CINXE.COM
Dividend tax - Wikipedia
<!DOCTYPE html> <html class="client-nojs vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available" lang="en" dir="ltr"> <head> <meta charset="UTF-8"> <title>Dividend tax - Wikipedia</title> <script>(function(){var className="client-js vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available";var cookie=document.cookie.match(/(?:^|; )enwikimwclientpreferences=([^;]+)/);if(cookie){cookie[1].split('%2C').forEach(function(pref){className=className.replace(new RegExp('(^| )'+pref.replace(/-clientpref-\w+$|[^\w-]+/g,'')+'-clientpref-\\w+( |$)'),'$1'+pref+'$2');});}document.documentElement.className=className;}());RLCONF={"wgBreakFrames":false,"wgSeparatorTransformTable":["",""],"wgDigitTransformTable":["",""],"wgDefaultDateFormat":"dmy", "wgMonthNames":["","January","February","March","April","May","June","July","August","September","October","November","December"],"wgRequestId":"2df33d89-5924-4558-9904-726ac7fc6251","wgCanonicalNamespace":"","wgCanonicalSpecialPageName":false,"wgNamespaceNumber":0,"wgPageName":"Dividend_tax","wgTitle":"Dividend tax","wgCurRevisionId":1253922374,"wgRevisionId":1253922374,"wgArticleId":166496,"wgIsArticle":true,"wgIsRedirect":false,"wgAction":"view","wgUserName":null,"wgUserGroups":["*"],"wgCategories":["Webarchive template wayback links","All articles with bare URLs for citations","Articles with bare URLs for citations from March 2022","Articles with PDF format bare URLs for citations","Articles containing potentially dated statements from 2007","All articles containing potentially dated statements","CS1 maint: archived copy as title","Articles with short description","Short description matches Wikidata","Articles to be expanded from June 2008","All articles to be expanded", "Articles with ibid from January 2021","Dividends","Withholding taxes"],"wgPageViewLanguage":"en","wgPageContentLanguage":"en","wgPageContentModel":"wikitext","wgRelevantPageName":"Dividend_tax","wgRelevantArticleId":166496,"wgIsProbablyEditable":true,"wgRelevantPageIsProbablyEditable":true,"wgRestrictionEdit":[],"wgRestrictionMove":[],"wgRedirectedFrom":"Taxes_on_dividends","wgNoticeProject":"wikipedia","wgCiteReferencePreviewsActive":false,"wgFlaggedRevsParams":{"tags":{"status":{"levels":1}}},"wgMediaViewerOnClick":true,"wgMediaViewerEnabledByDefault":true,"wgPopupsFlags":0,"wgVisualEditor":{"pageLanguageCode":"en","pageLanguageDir":"ltr","pageVariantFallbacks":"en"},"wgMFDisplayWikibaseDescriptions":{"search":true,"watchlist":true,"tagline":false,"nearby":true},"wgWMESchemaEditAttemptStepOversample":false,"wgWMEPageLength":50000,"wgInternalRedirectTargetUrl":"/wiki/Dividend_tax","wgRelatedArticlesCompat":[],"wgCentralAuthMobileDomain":false,"wgEditSubmitButtonLabelPublish":true, "wgULSPosition":"interlanguage","wgULSisCompactLinksEnabled":false,"wgVector2022LanguageInHeader":true,"wgULSisLanguageSelectorEmpty":false,"wgWikibaseItemId":"Q1923644","wgCheckUserClientHintsHeadersJsApi":["brands","architecture","bitness","fullVersionList","mobile","model","platform","platformVersion"],"GEHomepageSuggestedEditsEnableTopics":true,"wgGETopicsMatchModeEnabled":false,"wgGEStructuredTaskRejectionReasonTextInputEnabled":false,"wgGELevelingUpEnabledForUser":false};RLSTATE={"ext.globalCssJs.user.styles":"ready","site.styles":"ready","user.styles":"ready","ext.globalCssJs.user":"ready","user":"ready","user.options":"loading","ext.cite.styles":"ready","skins.vector.search.codex.styles":"ready","skins.vector.styles":"ready","skins.vector.icons":"ready","jquery.tablesorter.styles":"ready","jquery.makeCollapsible.styles":"ready","ext.wikimediamessages.styles":"ready","ext.visualEditor.desktopArticleTarget.noscript":"ready","ext.uls.interlanguage":"ready","wikibase.client.init": "ready","ext.wikimediaBadges":"ready"};RLPAGEMODULES=["mediawiki.action.view.redirect","ext.cite.ux-enhancements","ext.scribunto.logs","site","mediawiki.page.ready","jquery.tablesorter","jquery.makeCollapsible","mediawiki.toc","skins.vector.js","ext.centralNotice.geoIP","ext.centralNotice.startUp","ext.gadget.ReferenceTooltips","ext.gadget.switcher","ext.urlShortener.toolbar","ext.centralauth.centralautologin","mmv.bootstrap","ext.popups","ext.visualEditor.desktopArticleTarget.init","ext.visualEditor.targetLoader","ext.echo.centralauth","ext.eventLogging","ext.wikimediaEvents","ext.navigationTiming","ext.uls.interface","ext.cx.eventlogging.campaigns","ext.cx.uls.quick.actions","wikibase.client.vector-2022","ext.checkUser.clientHints","ext.quicksurveys.init","ext.growthExperiments.SuggestedEditSession","wikibase.sidebar.tracking"];</script> <script>(RLQ=window.RLQ||[]).push(function(){mw.loader.impl(function(){return["user.options@12s5i",function($,jQuery,require,module){mw.user.tokens.set({"patrolToken":"+\\","watchToken":"+\\","csrfToken":"+\\"}); }];});});</script> <link rel="stylesheet" href="/w/load.php?lang=en&modules=ext.cite.styles%7Cext.uls.interlanguage%7Cext.visualEditor.desktopArticleTarget.noscript%7Cext.wikimediaBadges%7Cext.wikimediamessages.styles%7Cjquery.makeCollapsible.styles%7Cjquery.tablesorter.styles%7Cskins.vector.icons%2Cstyles%7Cskins.vector.search.codex.styles%7Cwikibase.client.init&only=styles&skin=vector-2022"> <script async="" src="/w/load.php?lang=en&modules=startup&only=scripts&raw=1&skin=vector-2022"></script> <meta name="ResourceLoaderDynamicStyles" content=""> <link rel="stylesheet" href="/w/load.php?lang=en&modules=site.styles&only=styles&skin=vector-2022"> <meta name="generator" content="MediaWiki 1.44.0-wmf.5"> <meta name="referrer" content="origin"> <meta name="referrer" content="origin-when-cross-origin"> <meta name="robots" content="max-image-preview:standard"> <meta name="format-detection" content="telephone=no"> <meta name="viewport" content="width=1120"> <meta property="og:title" content="Dividend tax - Wikipedia"> <meta property="og:type" content="website"> <link rel="preconnect" href="//upload.wikimedia.org"> <link rel="alternate" media="only screen and (max-width: 640px)" href="//en.m.wikipedia.org/wiki/Dividend_tax"> <link rel="alternate" type="application/x-wiki" title="Edit this page" href="/w/index.php?title=Dividend_tax&action=edit"> <link rel="apple-touch-icon" href="/static/apple-touch/wikipedia.png"> <link rel="icon" href="/static/favicon/wikipedia.ico"> <link rel="search" type="application/opensearchdescription+xml" href="/w/rest.php/v1/search" title="Wikipedia (en)"> <link rel="EditURI" type="application/rsd+xml" href="//en.wikipedia.org/w/api.php?action=rsd"> <link rel="canonical" href="https://en.wikipedia.org/wiki/Dividend_tax"> <link rel="license" href="https://creativecommons.org/licenses/by-sa/4.0/deed.en"> <link rel="alternate" type="application/atom+xml" title="Wikipedia Atom feed" href="/w/index.php?title=Special:RecentChanges&feed=atom"> <link rel="dns-prefetch" href="//meta.wikimedia.org" /> <link rel="dns-prefetch" href="//login.wikimedia.org"> </head> <body class="skin--responsive skin-vector skin-vector-search-vue mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject mw-editable page-Dividend_tax rootpage-Dividend_tax skin-vector-2022 action-view"><a class="mw-jump-link" href="#bodyContent">Jump to content</a> <div class="vector-header-container"> <header class="vector-header mw-header"> <div class="vector-header-start"> <nav class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-dropdown" class="vector-dropdown vector-main-menu-dropdown vector-button-flush-left vector-button-flush-right" > <input type="checkbox" id="vector-main-menu-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-main-menu-dropdown" class="vector-dropdown-checkbox " aria-label="Main menu" > <label id="vector-main-menu-dropdown-label" for="vector-main-menu-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-menu mw-ui-icon-wikimedia-menu"></span> <span class="vector-dropdown-label-text">Main menu</span> </label> <div class="vector-dropdown-content"> <div id="vector-main-menu-unpinned-container" class="vector-unpinned-container"> <div id="vector-main-menu" class="vector-main-menu vector-pinnable-element"> <div class="vector-pinnable-header vector-main-menu-pinnable-header vector-pinnable-header-unpinned" data-feature-name="main-menu-pinned" data-pinnable-element-id="vector-main-menu" data-pinned-container-id="vector-main-menu-pinned-container" data-unpinned-container-id="vector-main-menu-unpinned-container" > <div class="vector-pinnable-header-label">Main menu</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-main-menu.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-main-menu.unpin">hide</button> </div> <div id="p-navigation" class="vector-menu mw-portlet mw-portlet-navigation" > <div class="vector-menu-heading"> Navigation </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-mainpage-description" class="mw-list-item"><a href="/wiki/Main_Page" title="Visit the main page [z]" accesskey="z"><span>Main page</span></a></li><li id="n-contents" class="mw-list-item"><a href="/wiki/Wikipedia:Contents" title="Guides to browsing Wikipedia"><span>Contents</span></a></li><li id="n-currentevents" class="mw-list-item"><a href="/wiki/Portal:Current_events" title="Articles related to current events"><span>Current events</span></a></li><li id="n-randompage" class="mw-list-item"><a href="/wiki/Special:Random" title="Visit a randomly selected article [x]" accesskey="x"><span>Random article</span></a></li><li id="n-aboutsite" class="mw-list-item"><a href="/wiki/Wikipedia:About" title="Learn about Wikipedia and how it works"><span>About Wikipedia</span></a></li><li id="n-contactpage" class="mw-list-item"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us" title="How to contact Wikipedia"><span>Contact us</span></a></li> </ul> </div> </div> <div id="p-interaction" class="vector-menu mw-portlet mw-portlet-interaction" > <div class="vector-menu-heading"> Contribute </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-help" class="mw-list-item"><a href="/wiki/Help:Contents" title="Guidance on how to use and edit Wikipedia"><span>Help</span></a></li><li id="n-introduction" class="mw-list-item"><a href="/wiki/Help:Introduction" title="Learn how to edit Wikipedia"><span>Learn to edit</span></a></li><li id="n-portal" class="mw-list-item"><a href="/wiki/Wikipedia:Community_portal" title="The hub for editors"><span>Community portal</span></a></li><li id="n-recentchanges" class="mw-list-item"><a href="/wiki/Special:RecentChanges" title="A list of recent changes to Wikipedia [r]" accesskey="r"><span>Recent changes</span></a></li><li id="n-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_upload_wizard" title="Add images or other media for use on Wikipedia"><span>Upload file</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> <a href="/wiki/Main_Page" class="mw-logo"> <img class="mw-logo-icon" src="/static/images/icons/wikipedia.png" alt="" aria-hidden="true" height="50" width="50"> <span class="mw-logo-container skin-invert"> <img class="mw-logo-wordmark" alt="Wikipedia" src="/static/images/mobile/copyright/wikipedia-wordmark-en.svg" style="width: 7.5em; height: 1.125em;"> <img class="mw-logo-tagline" alt="The Free Encyclopedia" src="/static/images/mobile/copyright/wikipedia-tagline-en.svg" width="117" height="13" style="width: 7.3125em; height: 0.8125em;"> </span> </a> </div> <div class="vector-header-end"> <div id="p-search" role="search" class="vector-search-box-vue vector-search-box-collapses vector-search-box-show-thumbnail vector-search-box-auto-expand-width vector-search-box"> <a href="/wiki/Special:Search" class="cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only search-toggle" title="Search Wikipedia [f]" accesskey="f"><span class="vector-icon mw-ui-icon-search mw-ui-icon-wikimedia-search"></span> <span>Search</span> </a> <div class="vector-typeahead-search-container"> <div class="cdx-typeahead-search cdx-typeahead-search--show-thumbnail cdx-typeahead-search--auto-expand-width"> <form action="/w/index.php" id="searchform" class="cdx-search-input cdx-search-input--has-end-button"> <div id="simpleSearch" class="cdx-search-input__input-wrapper" data-search-loc="header-moved"> <div class="cdx-text-input cdx-text-input--has-start-icon"> <input class="cdx-text-input__input" type="search" name="search" placeholder="Search Wikipedia" aria-label="Search Wikipedia" autocapitalize="sentences" title="Search Wikipedia [f]" accesskey="f" id="searchInput" > <span class="cdx-text-input__icon cdx-text-input__start-icon"></span> </div> <input type="hidden" name="title" value="Special:Search"> </div> <button class="cdx-button cdx-search-input__end-button">Search</button> </form> </div> </div> </div> <nav class="vector-user-links vector-user-links-wide" aria-label="Personal tools"> <div class="vector-user-links-main"> <div id="p-vector-user-menu-preferences" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-userpage" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-dropdown" class="vector-dropdown " title="Change the appearance of the page's font size, width, and color" > <input type="checkbox" id="vector-appearance-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-appearance-dropdown" class="vector-dropdown-checkbox " aria-label="Appearance" > <label id="vector-appearance-dropdown-label" for="vector-appearance-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-appearance mw-ui-icon-wikimedia-appearance"></span> <span class="vector-dropdown-label-text">Appearance</span> </label> <div class="vector-dropdown-content"> <div id="vector-appearance-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <div id="p-vector-user-menu-notifications" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-overflow" class="vector-menu mw-portlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en" class=""><span>Donate</span></a> </li> <li id="pt-createaccount-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:CreateAccount&returnto=Dividend+tax" title="You are encouraged to create an account and log in; however, it is not mandatory" class=""><span>Create account</span></a> </li> <li id="pt-login-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:UserLogin&returnto=Dividend+tax" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o" class=""><span>Log in</span></a> </li> </ul> </div> </div> </div> <div id="vector-user-links-dropdown" class="vector-dropdown vector-user-menu vector-button-flush-right vector-user-menu-logged-out" title="Log in and more options" > <input type="checkbox" id="vector-user-links-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-user-links-dropdown" class="vector-dropdown-checkbox " aria-label="Personal tools" > <label id="vector-user-links-dropdown-label" for="vector-user-links-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-ellipsis mw-ui-icon-wikimedia-ellipsis"></span> <span class="vector-dropdown-label-text">Personal tools</span> </label> <div class="vector-dropdown-content"> <div id="p-personal" class="vector-menu mw-portlet mw-portlet-personal user-links-collapsible-item" title="User menu" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport" class="user-links-collapsible-item mw-list-item"><a href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en"><span>Donate</span></a></li><li id="pt-createaccount" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:CreateAccount&returnto=Dividend+tax" title="You are encouraged to create an account and log in; however, it is not mandatory"><span class="vector-icon mw-ui-icon-userAdd mw-ui-icon-wikimedia-userAdd"></span> <span>Create account</span></a></li><li id="pt-login" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:UserLogin&returnto=Dividend+tax" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o"><span class="vector-icon mw-ui-icon-logIn mw-ui-icon-wikimedia-logIn"></span> <span>Log in</span></a></li> </ul> </div> </div> <div id="p-user-menu-anon-editor" class="vector-menu mw-portlet mw-portlet-user-menu-anon-editor" > <div class="vector-menu-heading"> Pages for logged out editors <a href="/wiki/Help:Introduction" aria-label="Learn more about editing"><span>learn more</span></a> </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-anoncontribs" class="mw-list-item"><a href="/wiki/Special:MyContributions" title="A list of edits made from this IP address [y]" accesskey="y"><span>Contributions</span></a></li><li id="pt-anontalk" class="mw-list-item"><a href="/wiki/Special:MyTalk" title="Discussion about edits from this IP address [n]" accesskey="n"><span>Talk</span></a></li> </ul> </div> </div> </div> </div> </nav> </div> </header> </div> <div class="mw-page-container"> <div class="mw-page-container-inner"> <div class="vector-sitenotice-container"> <div id="siteNotice"><!-- CentralNotice --></div> </div> <div class="vector-column-start"> <div class="vector-main-menu-container"> <div id="mw-navigation"> <nav id="mw-panel" class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-pinned-container" class="vector-pinned-container"> </div> </nav> </div> </div> <div class="vector-sticky-pinned-container"> <nav id="mw-panel-toc" aria-label="Contents" data-event-name="ui.sidebar-toc" class="mw-table-of-contents-container vector-toc-landmark"> <div id="vector-toc-pinned-container" class="vector-pinned-container"> <div id="vector-toc" class="vector-toc vector-pinnable-element"> <div class="vector-pinnable-header vector-toc-pinnable-header vector-pinnable-header-pinned" data-feature-name="toc-pinned" data-pinnable-element-id="vector-toc" > <h2 class="vector-pinnable-header-label">Contents</h2> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-toc.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-toc.unpin">hide</button> </div> <ul class="vector-toc-contents" id="mw-panel-toc-list"> <li id="toc-mw-content-text" class="vector-toc-list-item vector-toc-level-1"> <a href="#" class="vector-toc-link"> <div class="vector-toc-text">(Top)</div> </a> </li> <li id="toc-History" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#History"> <div class="vector-toc-text"> <span class="vector-toc-numb">1</span> <span>History</span> </div> </a> <button aria-controls="toc-History-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle History subsection</span> </button> <ul id="toc-History-sublist" class="vector-toc-list"> <li id="toc-Collection" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Collection"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Collection</span> </div> </a> <ul id="toc-Collection-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Debate" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Debate"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Debate</span> </div> </a> <button aria-controls="toc-Debate-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Debate subsection</span> </button> <ul id="toc-Debate-sublist" class="vector-toc-list"> <li id="toc-Arguments_in_favor" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Arguments_in_favor"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>Arguments in favor</span> </div> </a> <ul id="toc-Arguments_in_favor-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Arguments_against" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Arguments_against"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>Arguments against</span> </div> </a> <ul id="toc-Arguments_against-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Dividend_tax_policy" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Dividend_tax_policy"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Dividend tax policy</span> </div> </a> <button aria-controls="toc-Dividend_tax_policy-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Dividend tax policy subsection</span> </button> <ul id="toc-Dividend_tax_policy-sublist" class="vector-toc-list"> <li id="toc-OECD_tax_rates" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#OECD_tax_rates"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>OECD tax rates</span> </div> </a> <ul id="toc-OECD_tax_rates-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Canada" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Canada"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>Canada</span> </div> </a> <ul id="toc-Canada-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-India" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#India"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>India</span> </div> </a> <ul id="toc-India-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Korea" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Korea"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>Korea</span> </div> </a> <ul id="toc-Korea-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Other_countries" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Other_countries"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6</span> <span>Other countries</span> </div> </a> <ul id="toc-Other_countries-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Dividend tax</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 5 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-5" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">5 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%9E%D7%A1_%D7%93%D7%99%D7%91%D7%99%D7%93%D7%A0%D7%93%D7%99%D7%9D" title="מס דיבידנדים – Hebrew" lang="he" hreflang="he" data-title="מס דיבידנדים" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Dividendbelasting" title="Dividendbelasting – Dutch" lang="nl" hreflang="nl" data-title="Dividendbelasting" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Kupongskatt" title="Kupongskatt – Swedish" lang="sv" hreflang="sv" data-title="Kupongskatt" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Thu%E1%BA%BF_c%E1%BB%95_t%E1%BB%A9c" title="Thuế cổ tức – Vietnamese" lang="vi" hreflang="vi" data-title="Thuế cổ tức" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E8%82%A1%E6%81%AF%E7%A8%85" title="股息稅 – Chinese" lang="zh" hreflang="zh" data-title="股息稅" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q1923644#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-nstab-main" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Dividend_tax" title="View the content page [c]" accesskey="c"><span>Article</span></a></li><li id="ca-talk" class="vector-tab-noicon mw-list-item"><a href="/wiki/Talk:Dividend_tax" rel="discussion" title="Discuss improvements to the content page [t]" accesskey="t"><span>Talk</span></a></li> </ul> </div> </div> <div id="vector-variants-dropdown" class="vector-dropdown emptyPortlet" > <input type="checkbox" id="vector-variants-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-variants-dropdown" class="vector-dropdown-checkbox " aria-label="Change language variant" > <label id="vector-variants-dropdown-label" for="vector-variants-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" ><span class="vector-dropdown-label-text">English</span> </label> <div class="vector-dropdown-content"> <div id="p-variants" class="vector-menu mw-portlet mw-portlet-variants emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> </div> </div> </nav> </div> <div id="right-navigation" class="vector-collapsible"> <nav aria-label="Views"> <div id="p-views" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-views" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-view" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Dividend_tax"><span>Read</span></a></li><li id="ca-edit" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Dividend_tax&action=edit" title="Edit this page [e]" accesskey="e"><span>Edit</span></a></li><li id="ca-history" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Dividend_tax&action=history" title="Past revisions of this page [h]" accesskey="h"><span>View history</span></a></li> </ul> </div> </div> </nav> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-dropdown" class="vector-dropdown vector-page-tools-dropdown" > <input type="checkbox" id="vector-page-tools-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-tools-dropdown" class="vector-dropdown-checkbox " aria-label="Tools" > <label id="vector-page-tools-dropdown-label" for="vector-page-tools-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" ><span class="vector-dropdown-label-text">Tools</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-tools-unpinned-container" class="vector-unpinned-container"> <div id="vector-page-tools" class="vector-page-tools vector-pinnable-element"> <div class="vector-pinnable-header vector-page-tools-pinnable-header vector-pinnable-header-unpinned" data-feature-name="page-tools-pinned" data-pinnable-element-id="vector-page-tools" data-pinned-container-id="vector-page-tools-pinned-container" data-unpinned-container-id="vector-page-tools-unpinned-container" > <div class="vector-pinnable-header-label">Tools</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-page-tools.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-page-tools.unpin">hide</button> </div> <div id="p-cactions" class="vector-menu mw-portlet mw-portlet-cactions emptyPortlet vector-has-collapsible-items" title="More options" > <div class="vector-menu-heading"> Actions </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-more-view" class="selected vector-more-collapsible-item mw-list-item"><a href="/wiki/Dividend_tax"><span>Read</span></a></li><li id="ca-more-edit" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Dividend_tax&action=edit" title="Edit this page [e]" accesskey="e"><span>Edit</span></a></li><li id="ca-more-history" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Dividend_tax&action=history"><span>View history</span></a></li> </ul> </div> </div> <div id="p-tb" class="vector-menu mw-portlet mw-portlet-tb" > <div class="vector-menu-heading"> General </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-whatlinkshere" class="mw-list-item"><a href="/wiki/Special:WhatLinksHere/Dividend_tax" title="List of all English Wikipedia pages containing links to this page [j]" accesskey="j"><span>What links here</span></a></li><li id="t-recentchangeslinked" class="mw-list-item"><a href="/wiki/Special:RecentChangesLinked/Dividend_tax" rel="nofollow" title="Recent changes in pages linked from this page [k]" accesskey="k"><span>Related changes</span></a></li><li id="t-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_Upload_Wizard" title="Upload files [u]" accesskey="u"><span>Upload file</span></a></li><li id="t-specialpages" class="mw-list-item"><a href="/wiki/Special:SpecialPages" title="A list of all special pages [q]" accesskey="q"><span>Special pages</span></a></li><li id="t-permalink" class="mw-list-item"><a href="/w/index.php?title=Dividend_tax&oldid=1253922374" title="Permanent link to this revision of this page"><span>Permanent link</span></a></li><li id="t-info" class="mw-list-item"><a href="/w/index.php?title=Dividend_tax&action=info" title="More information about this page"><span>Page information</span></a></li><li id="t-cite" class="mw-list-item"><a href="/w/index.php?title=Special:CiteThisPage&page=Dividend_tax&id=1253922374&wpFormIdentifier=titleform" title="Information on how to cite this page"><span>Cite this page</span></a></li><li id="t-urlshortener" class="mw-list-item"><a href="/w/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FDividend_tax"><span>Get shortened URL</span></a></li><li id="t-urlshortener-qrcode" class="mw-list-item"><a href="/w/index.php?title=Special:QrCode&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FDividend_tax"><span>Download QR code</span></a></li> </ul> </div> </div> <div id="p-coll-print_export" class="vector-menu mw-portlet mw-portlet-coll-print_export" > <div class="vector-menu-heading"> Print/export </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="coll-download-as-rl" class="mw-list-item"><a href="/w/index.php?title=Special:DownloadAsPdf&page=Dividend_tax&action=show-download-screen" title="Download this page as a PDF file"><span>Download as PDF</span></a></li><li id="t-print" class="mw-list-item"><a href="/w/index.php?title=Dividend_tax&printable=yes" title="Printable version of this page [p]" accesskey="p"><span>Printable version</span></a></li> </ul> </div> </div> <div id="p-wikibase-otherprojects" class="vector-menu mw-portlet mw-portlet-wikibase-otherprojects" > <div class="vector-menu-heading"> In other projects </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-wikibase" class="wb-otherproject-link wb-otherproject-wikibase-dataitem mw-list-item"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q1923644" title="Structured data on this page hosted by Wikidata [g]" accesskey="g"><span>Wikidata item</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> </div> </div> </div> <div class="vector-column-end"> <div class="vector-sticky-pinned-container"> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-pinned-container" class="vector-pinned-container"> </div> </nav> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-pinned-container" class="vector-pinned-container"> <div id="vector-appearance" class="vector-appearance vector-pinnable-element"> <div class="vector-pinnable-header vector-appearance-pinnable-header vector-pinnable-header-pinned" data-feature-name="appearance-pinned" data-pinnable-element-id="vector-appearance" data-pinned-container-id="vector-appearance-pinned-container" data-unpinned-container-id="vector-appearance-unpinned-container" > <div class="vector-pinnable-header-label">Appearance</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-appearance.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">hide</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"><span class="mw-redirectedfrom">(Redirected from <a href="/w/index.php?title=Taxes_on_dividends&redirect=no" class="mw-redirect" title="Taxes on dividends">Taxes on dividends</a>)</span></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Tax levied on stock earnings</div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist li::after{content:" · ";font-weight:bold}.mw-parser-output .hlist dd:last-child::after,.mw-parser-output .hlist dt:last-child::after,.mw-parser-output .hlist li:last-child::after{content:none}.mw-parser-output .hlist dd dd:first-child::before,.mw-parser-output .hlist dd dt:first-child::before,.mw-parser-output .hlist dd li:first-child::before,.mw-parser-output .hlist dt dd:first-child::before,.mw-parser-output .hlist dt dt:first-child::before,.mw-parser-output .hlist dt li:first-child::before,.mw-parser-output .hlist li dd:first-child::before,.mw-parser-output .hlist li dt:first-child::before,.mw-parser-output .hlist li li:first-child::before{content:" (";font-weight:normal}.mw-parser-output .hlist dd dd:last-child::after,.mw-parser-output .hlist dd dt:last-child::after,.mw-parser-output .hlist dd li:last-child::after,.mw-parser-output .hlist dt dd:last-child::after,.mw-parser-output .hlist dt dt:last-child::after,.mw-parser-output .hlist dt li:last-child::after,.mw-parser-output .hlist li dd:last-child::after,.mw-parser-output .hlist li dt:last-child::after,.mw-parser-output .hlist li li:last-child::after{content:")";font-weight:normal}.mw-parser-output .hlist ol{counter-reset:listitem}.mw-parser-output .hlist ol>li{counter-increment:listitem}.mw-parser-output .hlist ol>li::before{content:" "counter(listitem)"\a0 "}.mw-parser-output .hlist dd ol>li:first-child::before,.mw-parser-output .hlist dt ol>li:first-child::before,.mw-parser-output .hlist li ol>li:first-child::before{content:" ("counter(listitem)"\a0 "}</style><style data-mw-deduplicate="TemplateStyles:r1246091330">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:var(--background-color-neutral-subtle,#f8f9fa);border:1px solid var(--border-color-base,#a2a9b1);padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of a series on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Tax" title="Tax">Taxation</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/100px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png" decoding="async" width="100" height="113" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/150px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/200px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png 2x" data-file-width="440" data-file-height="496" /></a></span></td></tr><tr><td class="sidebar-above"> An aspect of <a href="/wiki/Fiscal_policy" title="Fiscal policy">fiscal policy</a></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_policy" title="Tax policy">Policies</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Government_revenue" title="Government revenue">Government revenue</a></li> <li><a href="/wiki/Property_tax_equalization" title="Property tax equalization">Property tax equalization</a></li> <li><a href="/wiki/Tax_revenue" title="Tax revenue">Tax revenue</a></li> <li><a href="/wiki/Non-tax_revenue" title="Non-tax revenue">Non-tax revenue</a></li> <li><a href="/wiki/Tax_law" title="Tax law">Tax law</a></li> <li><a href="/wiki/Tax_bracket" title="Tax bracket">Tax bracket</a> <ul><li><a href="/wiki/Flat_tax" title="Flat tax">Flat tax</a></li></ul></li> <li><a href="/wiki/Income_tax_threshold" title="Income tax threshold">Tax threshold</a></li> <li><a href="/wiki/Tax_exemption" title="Tax exemption">Exemption</a></li> <li><a href="/wiki/Tax_credit" title="Tax credit">Credit</a></li> <li><a href="/wiki/Tax_deduction" title="Tax deduction">Deduction</a></li> <li><a href="/wiki/Tax_shift" title="Tax shift">Tax shift</a></li> <li><a href="/wiki/Tax_cut" title="Tax cut">Tax cut</a></li> <li><a href="/wiki/Tax_holiday" title="Tax holiday">Tax holiday</a></li> <li><a href="/wiki/Tax_amnesty" title="Tax amnesty">Tax amnesty</a></li> <li><a href="/wiki/Tax_advantage" title="Tax advantage">Tax advantage</a></li> <li><a href="/wiki/Tax_incentive" title="Tax incentive">Tax incentive</a></li> <li><a href="/wiki/Tax_reform" title="Tax reform">Tax reform</a></li> <li><a href="/wiki/Tax_harmonization" title="Tax harmonization">Tax harmonization</a></li> <li><a href="/wiki/Tax_competition" title="Tax competition">Tax competition</a></li> <li><a href="/wiki/Tax_withholding" title="Tax withholding">Tax withholding</a></li> <li><a href="/wiki/Double_taxation" title="Double taxation">Double taxation</a></li> <li><a href="/wiki/No_taxation_without_representation" title="No taxation without representation">Representation</a></li> <li><a href="/wiki/Taxpayer_groups" title="Taxpayer groups">Unions</a></li> <li><a href="/wiki/Medical_savings_account" title="Medical savings account">Medical savings account</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax#Economic_effects" title="Tax">Economics</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> General Theory</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Effect_of_taxes_and_subsidies_on_price" title="Effect of taxes and subsidies on price">Price effect</a></li> <li><a href="/wiki/Excess_burden_of_taxation" title="Excess burden of taxation">Excess burden</a></li> <li><a href="/wiki/Tax_incidence" title="Tax incidence">Tax incidence</a></li> <li><a href="/wiki/Laffer_curve" title="Laffer curve">Laffer curve</a></li> <li><a href="/wiki/Optimal_tax" title="Optimal tax">Optimal tax</a></li> <li><a href="/wiki/Theories_of_taxation" title="Theories of taxation">Theories</a></li> <li><a href="/wiki/Optimal_capital_income_taxation" title="Optimal capital income taxation">Optimal capital income taxation</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Distribution of Tax</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_rate" title="Tax rate">Tax rate</a></li> <li><a href="/wiki/Flat_tax" title="Flat tax">Flat</a></li> <li><a href="/wiki/Progressive_tax" title="Progressive tax">Progressive</a></li> <li><a href="/wiki/Regressive_tax" title="Regressive tax">Regressive</a></li> <li><a href="/wiki/Proportional_tax" title="Proportional tax">Proportional</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_collection" class="mw-redirect" title="Tax collection">Collection</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Revenue_service" title="Revenue service">Revenue service</a></li> <li><a href="/wiki/Revenue_stamp" title="Revenue stamp">Revenue stamp</a></li> <li><a href="/wiki/Tax_assessment" title="Tax assessment">Tax assessment</a></li> <li><a href="/wiki/Taxable_income" title="Taxable income">Taxable income</a></li> <li><a href="/wiki/Tax_lien" title="Tax lien">Tax lien</a></li> <li><a href="/wiki/Tax_refund" title="Tax refund">Tax refund</a></li> <li><a href="/wiki/Tax_shield" title="Tax shield">Tax shield</a></li> <li><a href="/wiki/Tax_residence" title="Tax residence">Tax residence</a></li> <li><a href="/wiki/Tax_preparation" class="mw-redirect" title="Tax preparation">Tax preparation</a></li> <li><a href="/wiki/Tax_investigation" title="Tax investigation">Tax investigation</a></li> <li><a href="/wiki/Tax_shelter" title="Tax shelter">Tax shelter</a></li> <li><a href="/wiki/Tax_collector" title="Tax collector">Tax collector</a></li> <li><a href="/wiki/Privatized_tax_collection" title="Privatized tax collection">Private tax collection</a></li> <li><a href="/wiki/Farm_(revenue_leasing)" title="Farm (revenue leasing)">Tax farming</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_noncompliance" title="Tax noncompliance">Noncompliance</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> General</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Tax_avoidance" title="Tax avoidance">Tax avoidance</a> <ul><li><a href="/wiki/Repatriation_tax_avoidance" title="Repatriation tax avoidance">Repatriation tax avoidance</a></li></ul></li> <li><a href="/wiki/Tax_evasion" title="Tax evasion">Tax evasion</a></li> <li><a href="/wiki/Tax_resistance" title="Tax resistance">Tax resistance</a></li> <li><a href="/wiki/Tax_shelter" title="Tax shelter">Tax shelter</a></li> <li><a href="/wiki/Debtors%27_prison" title="Debtors' prison">Debtors' prison</a></li> <li><a href="/wiki/Smuggling" title="Smuggling">Smuggling</a></li> <li><a href="/wiki/Black_market" title="Black market">Black market</a></li> <li><a href="/wiki/Unreported_employment" title="Unreported employment">Unreported employment</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Corporate</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_inversion" title="Tax inversion">Tax inversion</a></li> <li><a href="/wiki/Transfer_mispricing" title="Transfer mispricing">Transfer mispricing</a></li> <li><a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">Base erosion and profit shifting</a> (BEPS)</li> <li><a href="/wiki/Double_Irish_arrangement" title="Double Irish arrangement">Double Irish</a></li> <li><a href="/wiki/Dutch_Sandwich" title="Dutch Sandwich">Dutch Sandwich</a></li> <li><a href="/wiki/Double_Irish_arrangement#Replacement_by_single_malt" title="Double Irish arrangement">Single Malt</a></li> <li><a href="/wiki/Double_Irish_arrangement#Backstop_of_capital_allowances" title="Double Irish arrangement">CAIA</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Locations</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_haven" title="Tax haven">Tax havens</a></li> <li><a href="/wiki/Corporate_haven" title="Corporate haven">Corporate havens</a></li> <li><a href="/wiki/Offshore_financial_centre" title="Offshore financial centre">Offshore financial centres</a> (OFCs)</li> <li><a href="/wiki/Offshore_magic_circle" title="Offshore magic circle">Offshore magic circle</a></li> <li><a href="/wiki/Conduit_and_sink_OFCs" title="Conduit and sink OFCs">Conduit and sink OFCs</a></li> <li><a href="/wiki/Financial_centre" title="Financial centre">Financial centres</a></li> <li><a href="/wiki/Financial_Secrecy_Index" title="Financial Secrecy Index">Financial Secrecy Index</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Major examples</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Ireland_as_a_tax_haven" title="Ireland as a tax haven">Ireland as a tax haven</a> <ul><li><i><a href="/wiki/Apple%27s_EU_tax_dispute" title="Apple's EU tax dispute">Ireland v. Commission</a></i></li> <li><a href="/wiki/Leprechaun_economics" title="Leprechaun economics">Leprechaun economics</a></li></ul></li> <li><a href="/wiki/2008_Liechtenstein_tax_affair" title="2008 Liechtenstein tax affair">Liechtenstein tax affair</a></li> <li><a href="/wiki/LuxLeaks" title="LuxLeaks">Luxembourg Leaks</a></li> <li><a href="/wiki/Offshore_Leaks" title="Offshore Leaks">Offshore Leaks</a></li> <li><a href="/wiki/Paradise_Papers" title="Paradise Papers">Paradise Papers</a></li> <li><a href="/wiki/Panama_Papers" title="Panama Papers">Panama Papers</a></li> <li><a href="/wiki/Swiss_Leaks" title="Swiss Leaks">Swiss Leaks</a></li> <li><a href="/wiki/United_States_as_a_tax_haven" title="United States as a tax haven">United States as a tax haven</a></li> <li><a href="/wiki/Panama_as_a_tax_haven" title="Panama as a tax haven">Panama as a tax haven</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/List_of_taxes" title="List of taxes">Types</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Direct_tax" title="Direct tax">Direct</a></li> <li><a href="/wiki/Indirect_tax" title="Indirect tax">Indirect</a></li> <li><a href="/wiki/Per_unit_tax" title="Per unit tax">Per unit</a></li> <li><a href="/wiki/Ad_valorem_tax" title="Ad valorem tax">Ad valorem</a></li> <li><a href="/wiki/Aviation_taxation_and_subsidies" title="Aviation taxation and subsidies">Aviation</a> <ul><li><a href="/wiki/Airport_improvement_fee" title="Airport improvement fee">Airport improvement</a></li> <li><a href="/wiki/Landing_fee" title="Landing fee">Landing</a></li> <li><a href="/wiki/Solidarity_tax_on_airplane_tickets" title="Solidarity tax on airplane tickets">Solidarity</a></li></ul></li> <li><a href="/wiki/Capital_gains_tax" title="Capital gains tax">Capital gains</a> <ul><li><a href="/wiki/Expatriation_tax" title="Expatriation tax">Expatriation</a></li></ul></li> <li><a href="/wiki/Consumption_tax" title="Consumption tax">Consumption</a> <ul><li><a href="/wiki/Departure_tax" title="Departure tax">Departure</a></li> <li><a href="/wiki/Hotel_tax" class="mw-redirect" title="Hotel tax">Hotel</a></li> <li><a href="/wiki/Sales_tax" title="Sales tax">Sales</a></li> <li><a href="/wiki/Stamp_duty" title="Stamp duty">Stamp</a></li> <li><a href="/wiki/Television_licence" title="Television licence">Television</a></li> <li><a href="/wiki/Tourist_tax" title="Tourist tax">Tourist</a></li> <li><a href="/wiki/Value-added_tax" title="Value-added tax">Value-added</a></li></ul></li> <li><a class="mw-selflink selflink">Dividend</a></li> <li><a href="/wiki/Environmental_tax" title="Environmental tax">Environmental tax</a> <ul><li><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon</a></li> <li><a href="/wiki/Eco-tariff" title="Eco-tariff">Eco-tariff</a></li> <li><a href="/wiki/Landfill_tax" title="Landfill tax">Landfill</a></li> <li><a href="/wiki/Natural_resources_consumption_tax" title="Natural resources consumption tax">Natural resources consumption</a></li> <li><a href="/wiki/Severance_tax" title="Severance tax">Severance</a></li> <li><a href="/wiki/Steering_tax" title="Steering tax">Steering</a></li> <li><a href="/wiki/Stumpage" title="Stumpage">Stumpage</a></li></ul></li> <li><a href="/wiki/Excise" title="Excise">Excise</a> <ul><li><a href="/wiki/Alcohol_law" title="Alcohol law">Alcohol</a></li> <li><a href="/wiki/Cigarette_taxes_in_the_United_States" title="Cigarette taxes in the United States">Cigarette</a></li> <li><a href="/wiki/Fat_tax" title="Fat tax">Fat</a></li> <li><a href="/wiki/Meat_tax" title="Meat tax">Meat</a></li> <li><a href="/wiki/Sin_tax" title="Sin tax">Sin</a></li> <li><a href="/wiki/Sugary_drink_tax" title="Sugary drink tax">Sugary drink</a></li> <li><a href="/wiki/Tobacco_smoking" title="Tobacco smoking">Tobacco</a></li></ul></li> <li><a href="/wiki/Consolidated_Fund" title="Consolidated Fund">General</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgist</a></li> <li><a href="/wiki/Gift_tax" title="Gift tax">Gift</a></li> <li><a href="/wiki/Gross_receipts_tax" title="Gross receipts tax">Gross receipts</a></li> <li><a href="/wiki/Hypothecated_tax" title="Hypothecated tax">Hypothecated</a></li> <li><a href="/wiki/Income_tax" title="Income tax">Income</a></li> <li><a href="/wiki/Inheritance_tax" title="Inheritance tax">Inheritance (estate)</a></li> <li><a href="/wiki/Land_value_tax" title="Land value tax">Land value</a></li> <li><a href="/wiki/Luxury_tax" title="Luxury tax">Luxury</a></li> <li><a href="/wiki/Payroll_tax" title="Payroll tax">Payroll</a></li> <li><a href="/wiki/Pigouvian_tax" title="Pigouvian tax">Pigouvian</a></li> <li><a href="/wiki/Property_tax" title="Property tax">Property</a></li> <li><a href="/wiki/Resource_rent_tax" title="Resource rent tax">Resource rent</a></li> <li><a href="/wiki/Single_tax" title="Single tax">Single</a></li> <li><a href="/wiki/Surtax" title="Surtax">Surtax</a></li> <li><a href="/wiki/Turnover_tax" title="Turnover tax">Turnover</a></li> <li><a href="/wiki/Use_tax" title="Use tax">Use</a></li> <li><a href="/wiki/User_charge" title="User charge">User charge</a>/<a href="/wiki/User_fee" title="User fee">fee</a> <ul><li><a href="/wiki/Congestion_pricing" title="Congestion pricing">Congestion</a></li> <li><a href="/wiki/Fuel_tax" title="Fuel tax">Fuel</a></li> <li><a href="/wiki/Road_pricing" title="Road pricing">Road</a>/<a href="/wiki/GNSS_road_pricing" title="GNSS road pricing">GNSS</a></li> <li><a href="/wiki/Toll_(fee)" title="Toll (fee)">Toll</a></li> <li><a href="/wiki/Vehicle_miles_traveled_tax" title="Vehicle miles traveled tax">Vehicle miles traveled</a></li></ul></li> <li><a href="/wiki/Corporate_tax" title="Corporate tax">Corporate profit</a></li> <li><a href="/wiki/Excess_profits_tax" title="Excess profits tax">Excess profits</a></li> <li><a href="/wiki/Windfall_tax" title="Windfall tax">Windfall</a></li> <li><a href="/wiki/Negative_income_tax" title="Negative income tax">Negative (income)</a></li> <li><a href="/wiki/Wealth_tax" title="Wealth tax">Wealth</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/International_taxation" title="International taxation">International</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Financial_transaction_tax" title="Financial transaction tax">Financial transaction tax</a></li> <li><a href="/wiki/Association_for_the_Taxation_of_Financial_Transactions_and_for_Citizens%27_Action" title="Association for the Taxation of Financial Transactions and for Citizens' Action">ATTAC</a></li> <li><a href="/wiki/Currency_transaction_tax" title="Currency transaction tax">Currency transaction tax</a></li> <li><a href="/wiki/Common_Consolidated_Corporate_Tax_Base" title="Common Consolidated Corporate Tax Base"><span class="wrap">European Union Common Consolidated Corporate Tax Base</span></a> (CCCTB)</li> <li><a href="/wiki/Global_minimum_corporate_tax_rate" title="Global minimum corporate tax rate">Global minimum corporate tax rate</a></li> <li><a href="/wiki/Robin_Hood_tax" title="Robin Hood tax">Robin Hood tax</a></li> <li><a href="/wiki/Tobin_tax" title="Tobin tax">Tobin tax</a></li> <li><a href="/wiki/Spahn_tax" title="Spahn tax">Spahn tax</a></li> <li><a href="/wiki/Tax_equalization" title="Tax equalization">Tax equalization</a></li> <li><a href="/wiki/Tax_treaty" title="Tax treaty">Tax treaty</a></li> <li><a href="/wiki/Exchange_of_Information" class="mw-redirect" title="Exchange of Information">Exchange of Information</a></li> <li><a href="/wiki/Permanent_establishment" title="Permanent establishment">Permanent establishment</a></li> <li><a href="/wiki/Transfer_pricing" title="Transfer pricing">Transfer pricing</a></li> <li><a href="/wiki/European_Union_financial_transaction_tax" title="European Union financial transaction tax">European Union FTT</a></li> <li><a href="/wiki/Rule_against_foreign_revenue_enforcement" title="Rule against foreign revenue enforcement">Foreign revenue rule</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Trade" title="Trade">Trade</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Customs" title="Customs">Custom</a></li> <li><a href="/wiki/Duty_(economics)" class="mw-redirect" title="Duty (economics)">Duty</a></li> <li><a href="/wiki/Tariff" title="Tariff">Tariff</a> <ul><li><a href="/wiki/Import" title="Import">Import</a></li> <li><a href="/wiki/Export" title="Export">Export</a></li></ul></li> <li><a href="/wiki/Trade_war" title="Trade war">Tariff war</a></li> <li><a href="/wiki/Free_trade" title="Free trade">Free trade</a></li> <li><a href="/wiki/Free-trade_zone" title="Free-trade zone">Free-trade zone</a></li> <li><a href="/wiki/Trade_agreement" title="Trade agreement">Trade agreement</a></li> <li><a href="/wiki/ATA_Carnet" title="ATA Carnet">ATA Carnet</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)">Research</div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Academic</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Mihir_A._Desai" title="Mihir A. Desai">Mihir A. Desai</a></li> <li><a href="/wiki/Dhammika_Dharmapala" title="Dhammika Dharmapala">Dhammika Dharmapala</a></li> <li><a href="/wiki/James_R._Hines_Jr." title="James R. Hines Jr.">James R. Hines Jr.</a></li> <li><a href="/wiki/Ronen_Palan" title="Ronen Palan">Ronen Palan</a></li> <li><a href="/wiki/Joel_Slemrod" title="Joel Slemrod">Joel Slemrod</a></li> <li><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Advocacy groups</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Institute_on_Taxation_and_Economic_Policy" title="Institute on Taxation and Economic Policy">Institute on Taxation and Economic Policy</a> (ITEP)</li> <li><a href="/wiki/Oxfam" title="Oxfam">Oxfam</a> (UK)</li> <li><a href="/wiki/Tax_Foundation" title="Tax Foundation">Tax Foundation</a> (US)</li> <li><a href="/wiki/Tax_Justice_Network" title="Tax Justice Network">Tax Justice Network</a> (TJN)</li> <li><a href="/wiki/Tax_Policy_Center" title="Tax Policy Center">Tax Policy Center</a> (US)</li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Religion" title="Religion">Religious</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Church_tax" title="Church tax">Church tax</a></li> <li><a href="/wiki/Eight_per_thousand" title="Eight per thousand">Eight per thousand</a></li> <li><a href="/wiki/Teind" title="Teind">Teind</a></li> <li><a href="/wiki/Tithe" title="Tithe">Tithe</a></li> <li><a href="/wiki/Fiscus_Judaicus" title="Fiscus Judaicus">Fiscus Judaicus</a></li> <li><a href="/wiki/Leibzoll" title="Leibzoll">Leibzoll</a></li> <li><a href="/wiki/Temple_tax" title="Temple tax">Temple tax</a></li> <li><a href="/wiki/Tolerance_tax" title="Tolerance tax">Tolerance tax</a></li> <li><a href="/wiki/Jizya" title="Jizya">Jizya</a></li> <li><a href="/wiki/Kharaj" title="Kharaj">Kharaj</a></li> <li><a href="/wiki/Khums" title="Khums">Khums</a></li> <li><a href="/wiki/Nisab" title="Nisab">Nisab</a></li> <li><a href="/wiki/Zakat" title="Zakat">Zakat</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Category:Taxation_by_country" title="Category:Taxation by country">By country</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> All Countries</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/List_of_countries_by_tax_rates" title="List of countries by tax rates">List of countries by tax rates</a></li> <li><a href="/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio" class="mw-redirect" title="List of countries by tax revenue to GDP ratio">Tax revenue to GDP ratio</a></li> <li><a href="/wiki/Tax_rates_in_Europe" title="Tax rates in Europe">Tax rates in Europe</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Individual Countries</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Taxation_in_Albania" title="Taxation in Albania">Albania</a></li> <li><a href="/wiki/Taxation_in_Algeria" title="Taxation in Algeria">Algeria</a></li> <li><a href="/wiki/Taxation_in_Argentina" title="Taxation in Argentina">Argentina</a></li> <li><a href="/wiki/Taxation_in_Armenia" title="Taxation in Armenia">Armenia</a></li> <li><a href="/wiki/Taxation_in_Australia" title="Taxation in Australia">Australia</a></li> <li><a href="/wiki/Taxation_in_Azerbaijan" title="Taxation in Azerbaijan">Azerbaijan</a></li> <li><a href="/wiki/Taxation_in_Bangladesh" title="Taxation in Bangladesh">Bangladesh</a></li> <li><a href="/wiki/Taxation_in_Bhutan" title="Taxation in Bhutan">Bhutan</a></li> <li><a href="/wiki/Taxation_in_Brazil" title="Taxation in Brazil">Brazil</a></li> <li><a href="/wiki/Taxation_in_Bulgaria" title="Taxation in Bulgaria">Bulgaria</a></li> <li><a href="/wiki/Taxation_in_the_British_Virgin_Islands" title="Taxation in the British Virgin Islands">BVI</a></li> <li><a href="/wiki/Taxation_in_Canada" title="Taxation in Canada">Canada</a></li> <li><a href="/wiki/Taxation_in_China" title="Taxation in China">China</a></li> <li><a href="/wiki/Taxation_in_Colombia" title="Taxation in Colombia">Colombia</a></li> <li><a href="/wiki/Taxation_in_Croatia" title="Taxation in Croatia">Croatia</a></li> <li><a href="/wiki/Taxation_in_Denmark" title="Taxation in Denmark">Denmark</a></li> <li><a href="/wiki/Taxation_in_Finland" title="Taxation in Finland">Finland</a></li> <li><a href="/wiki/Taxation_in_France" title="Taxation in France">France</a></li> <li><a href="/wiki/Taxation_in_Germany" title="Taxation in Germany">Germany</a></li> <li><a href="/wiki/Taxation_in_Greece" title="Taxation in Greece">Greece</a></li> <li><a href="/wiki/Taxation_in_Hong_Kong" title="Taxation in Hong Kong">Hong Kong</a></li> <li><a href="/wiki/Taxation_in_Iceland" title="Taxation in Iceland">Iceland</a></li> <li><a href="/wiki/Taxation_in_India" title="Taxation in India">India</a></li> <li><a href="/wiki/Taxation_in_Indonesia" title="Taxation in Indonesia">Indonesia</a></li> <li><a href="/wiki/Taxation_in_Iran" title="Taxation in Iran">Iran</a></li> <li><a href="/wiki/Taxation_in_the_Republic_of_Ireland" title="Taxation in the Republic of Ireland">Ireland</a></li> <li><a href="/wiki/Taxation_in_Israel" title="Taxation in Israel">Israel</a></li> <li><a href="/wiki/Taxation_in_Italy" title="Taxation in Italy">Italy</a></li> <li><a href="/wiki/Taxation_in_Japan" title="Taxation in Japan">Japan</a></li> <li><a href="/wiki/Taxation_in_Kazakhstan" title="Taxation in Kazakhstan">Kazakhstan</a></li> <li><a href="/wiki/Taxation_in_Lithuania" title="Taxation in Lithuania">Lithuania</a></li> <li><a href="/wiki/Taxation_in_Malta" title="Taxation in Malta">Malta</a></li> <li><a href="/wiki/Taxation_in_Morocco" title="Taxation in Morocco">Morocco</a></li> <li><a href="/wiki/Taxation_in_Namibia" title="Taxation in Namibia">Namibia</a></li> <li><a href="/wiki/Taxation_in_the_Netherlands" title="Taxation in the Netherlands">Netherlands</a></li> <li><a href="/wiki/Taxation_in_New_Zealand" title="Taxation in New Zealand">New Zealand</a></li> <li><a href="/wiki/Taxation_in_Norway" title="Taxation in Norway">Norway</a></li> <li><a href="/wiki/Taxation_in_Pakistan" title="Taxation in Pakistan">Pakistan</a></li> <li><a href="/wiki/Taxation_in_the_State_of_Palestine" title="Taxation in the State of Palestine">Palestine</a></li> <li><a href="/wiki/Taxation_in_Peru" title="Taxation in Peru">Peru</a></li> <li><a href="/wiki/Taxation_in_the_Philippines" title="Taxation in the Philippines">Philippines</a></li> <li><a href="/wiki/Taxation_in_Poland" title="Taxation in Poland">Poland</a></li> <li><a href="/wiki/Taxation_in_Portugal" title="Taxation in Portugal">Portugal</a></li> <li><a href="/wiki/Taxation_in_Russia" title="Taxation in Russia">Russia</a></li> <li><a href="/wiki/Taxation_in_South_Africa" title="Taxation in South Africa">South Africa</a></li> <li><a href="/wiki/Taxation_in_Sri_Lanka" title="Taxation in Sri Lanka">Sri Lanka</a></li> <li><a href="/wiki/Taxation_in_Sweden" title="Taxation in Sweden">Sweden</a></li> <li><a href="/wiki/Taxation_in_Switzerland" title="Taxation in Switzerland">Switzerland</a></li> <li><a href="/wiki/Taxation_in_Taiwan" title="Taxation in Taiwan">Taiwan</a></li> <li><a href="/wiki/Taxation_in_Tanzania" title="Taxation in Tanzania">Tanzania</a></li> <li><a href="/wiki/Taxation_in_the_United_Arab_Emirates" title="Taxation in the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/wiki/Taxation_in_the_United_Kingdom" title="Taxation in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Taxation_in_the_United_States" title="Taxation in the United States">United States</a></li> <li><a href="/wiki/Taxation_in_Uruguay" title="Taxation in Uruguay">Uruguay</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-below" style="background-color: #efefef;"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Taxation" title="Template:Taxation"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Taxation" title="Template talk:Taxation"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Taxation" title="Special:EditPage/Template:Taxation"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>A <b>dividend tax</b> is a tax imposed by a jurisdiction on <a href="/wiki/Dividend" title="Dividend">dividends</a> paid by a corporation to its <a href="/wiki/Shareholder" title="Shareholder">shareholders</a> (stockholders). The primary tax liability is that of the shareholder, though a tax obligation may also be imposed on the corporation in the form of a <a href="/wiki/Withholding_tax" class="mw-redirect" title="Withholding tax">withholding tax</a>. In some cases the withholding tax may be the extent of the tax liability in relation to the dividend. A dividend tax is in addition to any tax imposed directly on the corporation on its profits. Some jurisdictions do not tax dividends. </p><p>To avoid a dividend tax being levied, a corporation may distribute surplus funds to shareholders by way of a <a href="/wiki/Share_repurchase" title="Share repurchase">share buy-back</a>. These, however, are normally treated as capital gains, but may offer tax benefits when the tax rate on capital gains is lower than the tax rate on dividends. Another potential strategy is for a corporation not to distribute surplus funds to shareholders, who benefit from an increase in the value of their shareholding. These may also be subject to capital gain rules. Some private companies may transfer funds to controlling shareholders by way of loans, whether interest-bearing or not, instead of by way of a formal dividend, but many jurisdictions have rules that tax the practice as a dividend for tax purposes, called a “deemed dividend”.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Expand_section plainlinks metadata ambox mbox-small-left ambox-content" role="presentation"><tbody><tr><td class="mbox-image"><span typeof="mw:File"><a href="/wiki/File:Wiki_letter_w_cropped.svg" class="mw-file-description"><img alt="[icon]" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/20px-Wiki_letter_w_cropped.svg.png" decoding="async" width="20" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/30px-Wiki_letter_w_cropped.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/40px-Wiki_letter_w_cropped.svg.png 2x" data-file-width="44" data-file-height="31" /></a></span></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs expansion</b>. You can help by <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&action=edit&section=">adding to it</a>. <span class="date-container"><i>(<span class="date">June 2008</span>)</i></span></div></td></tr></tbody></table> <p>In the beginning of income tax history, dividends paid to shareholders were exempt from taxation, as such tax was considered a form or double taxation on money earned by companies and subject to corporate tax. </p><p>Currently, in most jurisdictions, dividends from corporations are treated as a type of income and taxed accordingly at the individual level. Many jurisdictions have adopted special treatment of dividends, imposing a separate rate on dividends to wage income or capital gains. </p><p>Here is a brief history of dividend taxation: </p> <ul><li>17th century: The first dividend taxes were imposed in the 17th century in the Netherlands and England.</li> <li>19th century: Dividend taxes became more common in the 19th century, as more countries adopted income taxes.</li> <li>United States: Dividend taxes were first imposed in the United States in 1913, with the passage of the 16th Amendment to the U.S. Constitution.</li> <li>1936-1939: During the Great Depression, dividends were taxed at an individual's income tax rate.</li> <li>1954: The Tax Reform Act of 1954 created a separate rate for dividends, which was lower than the individual income tax rate.</li> <li>1981: The Economic Recovery Tax Act of 1981 further reduced the tax rate on dividends.</li> <li>2003: The Jobs and Growth Tax Relief Reconciliation Act of 2003 reduced the tax rate on dividends to 15% for most investors.</li> <li>2013: The American Taxpayer Relief Act of 2012 (ATRA) increased the tax rate on dividends to 20% for taxpayers in the top income tax bracket.</li></ul> <p>In the United States, the <a href="/wiki/Revenue_Act_of_1913" title="Revenue Act of 1913">Revenue Act of 1913</a>, authorized via the <a href="/wiki/Sixteenth_Amendment_to_the_United_States_Constitution" title="Sixteenth Amendment to the United States Constitution">16th Amendment</a>, created a federal personal income tax of 1% with additional surtaxes of 1–5%,<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> and exempted dividends from the general income tax but not the surtaxes which applied above the $20,000 level. This was to avoid the double taxation of income as there was a 1% corporate tax as well. After 1936, dividends were again subject to the ordinary income tax, but from 1954–1983 there were various exemptions and credits, taxing dividends at a lower rate. Following this, there was an eighteen-year period (1985-2003) in which dividends were fully taxed at an individual's income tax bracket. During this period, the top tax bracket ranged between 28% and 50%.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> However, in 2003 former president <a href="/wiki/George_W._Bush" title="George W. Bush">George W. Bush</a> enacted the <a href="/wiki/Jobs_and_Growth_Tax_Relief_Reconciliation_Act_of_2003" title="Jobs and Growth Tax Relief Reconciliation Act of 2003">Jobs and Growth Tax Relief Reconciliation Act of 2003</a>, which changed tax rates significantly. These <a href="/wiki/Jobs_and_Growth_Tax_Relief_Reconciliation_Act_of_2003" title="Jobs and Growth Tax Relief Reconciliation Act of 2003">2003 tax cuts</a> created a new category of <a href="/wiki/Qualified_dividend" title="Qualified dividend">qualified dividend</a> that was taxed at the lower <a href="/wiki/Capital_gains_tax_in_the_United_States" title="Capital gains tax in the United States">long-term capital gains rate</a> instead of the ordinary income rate.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The current tax rate on dividends in the United States is 20% for taxpayers in the top income tax bracket, and 15% for taxpayers in the lower income tax brackets. There are also special rules for qualified dividends, which are dividends that are paid by companies that have met certain requirements. Qualified dividends are taxed at a lower rate of 0%, 15%, or 20%, depending on the taxpayer's income. </p><p>The history of dividend taxation outside the US is just as varied as it is in the US. Here is a brief overview of dividend taxation in some major countries: </p> <ul><li>United Kingdom: Dividends in the UK are taxed at a rate of 7.5% for basic rate taxpayers, 32.5% for higher rate taxpayers, and 38.1% for additional rate taxpayers. There is also a dividend allowance of £2,000 per year, which means that dividends up to £2,000 are tax-free.</li> <li>Canada: Dividends in Canada are taxed at a rate of 50% for non-residents, and 15% for residents. There is also a dividend tax credit that can be used to reduce the amount of tax that is owed on dividends.</li> <li>Australia: Dividends in Australia are taxed at a rate of 30% for non-residents, and 15% for residents. There is also a dividend imputation system that allows shareholders to claim a credit for the taxes that the company has already paid on its profits.</li> <li>Japan: Dividends in Japan are taxed at a rate of 20% for non-residents, and 15% for residents. There is also a dividend exemption system that allows shareholders to exempt dividends from tax if they meet certain conditions.</li> <li>Germany: Dividends in Germany are taxed at a rate of 25% for non-residents, and 26.375% for residents. There is also a dividend tax credit that can be used to reduce the amount of tax that is owed on dividends.</li></ul> <div class="mw-heading mw-heading3"><h3 id="Collection">Collection</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=2" title="Edit section: Collection"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Withholding_tax" class="mw-redirect" title="Withholding tax">Withholding tax</a></div> <p>In many jurisdictions, companies are subject to <a href="/wiki/Withholding_tax" class="mw-redirect" title="Withholding tax">withhold obligations</a> of a prescribed rate, paying this to the national revenue authorities and paying to shareholders only the balance of the dividend. </p> <div class="mw-heading mw-heading2"><h2 id="Debate">Debate</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=3" title="Edit section: Debate"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Taxation of dividends is controversial, based on the issues of <a href="/wiki/Double_taxation" title="Double taxation">double taxation</a>. Depending on the jurisdiction, dividends may be treated as "<a href="/wiki/Unearned_income" title="Unearned income">unearned income</a>" (like interest and collected rents) and thus liable for income tax. </p> <div class="mw-heading mw-heading3"><h3 id="Arguments_in_favor">Arguments in favor</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=4" title="Edit section: Arguments in favor"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A <a href="/wiki/Corporation" title="Corporation">corporation</a> is a legal entity separate from its shareholders with a "life" of its own. As a separate entity, a corporation has the right to use public goods as an individual does, and is therefore obligated to help pay for the public goods through taxes.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>Professor Confidence W. Amadi of <a href="/wiki/West_Georgia_University" class="mw-redirect" title="West Georgia University">West Georgia University</a> has argued: </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>The greatest advantage of the corporate form of business organization is the <a href="/wiki/Limited_liability" title="Limited liability">limited liability</a> protection accorded its owners. Taxation of corporate income is the price of that protection. This price must be worth the benefits since, according to the <a href="/wiki/Internal_Revenue_Service" title="Internal Revenue Service">Internal Revenue Service</a> (1996), corporations account for less than 20 percent of all U.S. business firms, but about 90 percent of U.S. business revenues and approximately 70 percent of U.S. business profits. The benefits of limited liability independent of those enjoyed by shareholders, the flexibility of change in ownership, and the immense ability to raise capital are all derived from the legal entity status accorded corporations by the law. This equal status requires that corporations pay income taxes.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>Once it is established that a corporation is, for all important purposes, a separate legal entity, the issue becomes how transfers from one legal entity (corporations) to another legal entity (shareholders) should be taxed, not whether the money should be taxed. It can be argued that it is unfair and economically unproductive, to tax <a href="/wiki/Earned_income" class="mw-redirect" title="Earned income">income generated through active work</a> at a higher rate than <a href="/wiki/Unearned_income" title="Unearned income">income generated through less active means</a>. </p><p>A 2022 study in the <i>American Economic Review</i> found that a substantial increase in dividend tax rates in France led to reduced dividend payments by firms and greater re-investment of profits back into the firms. The study also found that the dividend taxes did not contribute to a misallocation of capital, but may instead have reduced a capital misallocation.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The study was retracted after several inconsistencies in the data were pointed out by other researchers, some arguing that the alterations affected the results of the paper. The authors disputed that the results would have been altered.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Arguments_against">Arguments against</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=5" title="Edit section: Arguments against"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Critics, such as the <a href="/wiki/Cato_Institute" title="Cato Institute">Cato Institute</a>, argue that a dividend tax is an unfair "<a href="/wiki/Double_taxation" title="Double taxation">double taxation</a>".<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>a<span class="cite-bracket">]</span></a></sup> Cato's position is: </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>First, high dividend taxes add to the income tax code's general bias against savings and investment. Second, high dividend taxes cause corporations to rely too much on debt rather than equity financing. Highly indebted firms are more vulnerable to bankruptcy in economic downturns. Third, high dividend taxes reduce the incentive to pay out dividends in favor of retained earnings. That may cause corporate executives to invest in wasteful or unprofitable projects.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>Besides discussed above issues of whether taxing dividends is right and fair, a major issue is tax-induced distortions of economic incentives. For instance, quoting from:<sup id="cite_ref-PresPanel_11-0" class="reference"><a href="#cite_note-PresPanel-11"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> "Efforts to avoid the double tax on corporate earnings have created a misallocation of investment between the corporate and non-corporate sectors and rapid growth in the use of S corporations, partnerships, and other entities that do not pay corporate income tax." </p><p>The taxpayers retain the post-tax income, while the whole pre-tax income, tax including, forms the national resources. A mismatch between the actual income as perceived by taxpayers and the <a href="/wiki/Taxable_income" title="Taxable income">taxable income</a> distorts economic incentives by providing tempting ways to boost their difference. It promotes <a href="/wiki/Tax_planning" class="mw-redirect" title="Tax planning">tax planning</a> to maximize the post-tax income to the detriment of the pre-tax one: "We have seen how preferences in the tax code cause taxpayers to devote more resources to tax-advantaged investments and activities at the expense of other more productive alternatives."<sup id="cite_ref-PresPanel_11-1" class="reference"><a href="#cite_note-PresPanel-11"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>Shareholders control corporations and bear their tax burdens: "Economists at both the Treasury Department and the Congressional Budget Office assume that the burden of the corporate income tax is borne entirely by owners of capital."<sup id="cite_ref-reform_12-0" class="reference"><a href="#cite_note-reform-12"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Both corporate tax and personal taxes on dividends and capital gains in combination reduce shareholders <a href="/wiki/Comprehensive_income" title="Comprehensive income">comprehensive income</a><sup id="cite_ref-incm_13-0" class="reference"><a href="#cite_note-incm-13"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> which includes the change in their <a href="/wiki/Market_capitalization" title="Market capitalization">stock portfolio value</a>. </p><p>Changes of stock value are hard to legally define and timely tax.<sup id="cite_ref-etx_14-0" class="reference"><a href="#cite_note-etx-14"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-fix_15-0" class="reference"><a href="#cite_note-fix-15"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Parts of these changes have a legally recognizable source. E.g., cash earned by corporations can be taxed at the corporate level. But there are other "hidden" parts, e.g., when corporations gain valuable patents or see favorable markets shifts. They increase stock values but cannot be legally measured and timely taxed at the corporate level.<sup id="cite_ref-etx_14-1" class="reference"><a href="#cite_note-etx-14"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>These parts can be <a href="/wiki/Amount_realized" title="Amount realized">realized</a> and taxed at the shareholders level when dividends are paid or stock trade yields capital gains. However, when owners take dividends from their shares (or gains from selling them) their cash portfolio grows but the value of their stock portfolio shrinks by the same amount, resulting in no net <a href="/wiki/Comprehensive_income" title="Comprehensive income">comprehensive income</a>. Instead, the earlier growth of stock values gets legally recognized and (belatedly) taxed. However, this also includes growth that reflects previously taxed corporate income, resulting in double taxation.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>Many remedies have been discussed to reduce misallocation of investment, disincentive for trading shares and taking dividends that chills capital movement, and other distortions mentioned above. Some propose lower rates of taxes on dividends, capital gains, and corporate income or complete elimination of some of them.<sup id="cite_ref-reform_12-1" class="reference"><a href="#cite_note-reform-12"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Others aim at a better match between undertaxed and overtaxed parts of income: "Dividends and capital gains taxes have low rates but apply largely to income already taxed at the corporate level. This is widely criticized. Making dividends paid from taxed income tax-free and allowing companies to deduct capital losses (up to per-share taxed income) on share repurchase would be more consistent than lower tax rates on dividends, capital gains, and corporate income.".<sup id="cite_ref-fix_15-1" class="reference"><a href="#cite_note-fix-15"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Broadly accepted solutions to the problem are yet to be found; the issue remains highly controversial. </p> <div class="mw-heading mw-heading2"><h2 id="Dividend_tax_policy">Dividend tax policy</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=6" title="Edit section: Dividend tax policy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="OECD_tax_rates">OECD tax rates</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=7" title="Edit section: OECD tax rates"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Source:<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Share_repurchase" title="Share repurchase">Share buy-backs</a> are more tax-efficient than dividends when the tax rate on capital gains is lower than the tax rate on dividends. </p> <table class="wikitable sortable"> <tbody><tr> <th>Country</th> <th>Top Marginal Tax Rate <br /> on Capital Gains <br /> (2021)</th> <th>Top Marginal <br /> Dividend Tax Rate <br /> (2021)</th> <th>Spread in <br /> Tax Rates </th></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/23px-Flag_of_South_Korea.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/35px-Flag_of_South_Korea.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/45px-Flag_of_South_Korea.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/South_Korea" title="South Korea">South Korea</a></td> <td>0.0%</td> <td>44.0%</td> <td>+44.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/23px-Flag_of_Belgium_%28civil%29.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/35px-Flag_of_Belgium_%28civil%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/45px-Flag_of_Belgium_%28civil%29.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Belgium" title="Belgium">Belgium</a></td> <td>0.0%</td> <td>30.0%</td> <td>+30.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/23px-Flag_of_Slovenia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/35px-Flag_of_Slovenia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/46px-Flag_of_Slovenia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Slovenia" title="Slovenia">Slovenia</a></td> <td>0.0%</td> <td>27.5%</td> <td>+27.5% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/16px-Flag_of_Switzerland_%28Pantone%29.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/24px-Flag_of_Switzerland_%28Pantone%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/32px-Flag_of_Switzerland_%28Pantone%29.svg.png 2x" data-file-width="512" data-file-height="512" /></span></span>  </span><a href="/wiki/Switzerland" title="Switzerland">Switzerland</a></td> <td>0.0%</td> <td>22.3%</td> <td>+22.3% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/23px-Flag_of_Luxembourg.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/35px-Flag_of_Luxembourg.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/46px-Flag_of_Luxembourg.svg.png 2x" data-file-width="512" data-file-height="307" /></span></span> </span><a href="/wiki/Luxembourg" title="Luxembourg">Luxembourg</a></td> <td>0.0%</td> <td>21.0%</td> <td>+21.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/23px-Flag_of_Turkey.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/35px-Flag_of_Turkey.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/45px-Flag_of_Turkey.svg.png 2x" data-file-width="1200" data-file-height="800" /></span></span> </span><a href="/wiki/Turkey" title="Turkey">Turkey</a></td> <td>0.0%</td> <td>20.0%</td> <td>+20.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/23px-Flag_of_Ireland.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/35px-Flag_of_Ireland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/46px-Flag_of_Ireland.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Republic_of_Ireland" title="Republic of Ireland">Ireland</a></td> <td>33.0%</td> <td>51.0%</td> <td>+18.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Flag_of_New_Zealand.svg/23px-Flag_of_New_Zealand.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Flag_of_New_Zealand.svg/35px-Flag_of_New_Zealand.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Flag_of_New_Zealand.svg/46px-Flag_of_New_Zealand.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/New_Zealand" title="New Zealand">New Zealand</a></td> <td>0.0%</td> <td>15.3%</td> <td>+15.3% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/23px-Flag_of_the_Czech_Republic.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/35px-Flag_of_the_Czech_Republic.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/45px-Flag_of_the_Czech_Republic.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Czech_Republic" title="Czech Republic">Czech Republic</a></td> <td>0.0%</td> <td>15.0%</td> <td>+15.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Canada_%28Pantone%29.svg/23px-Flag_of_Canada_%28Pantone%29.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Canada_%28Pantone%29.svg/35px-Flag_of_Canada_%28Pantone%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Canada_%28Pantone%29.svg/46px-Flag_of_Canada_%28Pantone%29.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Canada" title="Canada">Canada</a></td> <td>26.8%</td> <td>39.3%</td> <td>+12.5% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/23px-Flag_of_the_United_Kingdom.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/35px-Flag_of_the_United_Kingdom.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/46px-Flag_of_the_United_Kingdom.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a></td> <td>28.0%</td> <td>38.1%</td> <td>+10.1% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/23px-Flag_of_Mexico.svg.png" decoding="async" width="23" height="13" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/35px-Flag_of_Mexico.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/46px-Flag_of_Mexico.svg.png 2x" data-file-width="980" data-file-height="560" /></span></span> </span><a href="/wiki/Mexico" title="Mexico">Mexico</a></td> <td>10.0%</td> <td>17.1%</td> <td>+7.1% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/23px-Flag_of_Slovakia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/35px-Flag_of_Slovakia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/45px-Flag_of_Slovakia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Slovakia" title="Slovakia">Slovakia</a></td> <td>0.0%</td> <td>7.0%</td> <td>+7.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Israel.svg/21px-Flag_of_Israel.svg.png" decoding="async" width="21" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Israel.svg/32px-Flag_of_Israel.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Israel.svg/41px-Flag_of_Israel.svg.png 2x" data-file-width="1100" data-file-height="800" /></span></span> </span><a href="/wiki/Israel" title="Israel">Israel</a></td> <td>28.0%</td> <td>33.0%</td> <td>+5.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/88/Flag_of_Australia_%28converted%29.svg/23px-Flag_of_Australia_%28converted%29.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/88/Flag_of_Australia_%28converted%29.svg/35px-Flag_of_Australia_%28converted%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/88/Flag_of_Australia_%28converted%29.svg/46px-Flag_of_Australia_%28converted%29.svg.png 2x" data-file-width="1280" data-file-height="640" /></span></span> </span><a href="/wiki/Australia" title="Australia">Australia</a></td> <td>23.5%</td> <td>24.3%</td> <td>+0.8% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/23px-Flag_of_Austria.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/35px-Flag_of_Austria.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/45px-Flag_of_Austria.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Austria" title="Austria">Austria</a></td> <td>27.5%</td> <td>27.5%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Colombia.svg/23px-Flag_of_Colombia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Colombia.svg/35px-Flag_of_Colombia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Colombia.svg/45px-Flag_of_Colombia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Colombia" title="Colombia">Colombia</a> </td> <td>10.0% </td> <td>10.0% </td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/20px-Flag_of_Denmark.svg.png" decoding="async" width="20" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/31px-Flag_of_Denmark.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/40px-Flag_of_Denmark.svg.png 2x" data-file-width="512" data-file-height="387" /></span></span> </span><a href="/wiki/Denmark" title="Denmark">Denmark</a></td> <td>42.0%</td> <td>42.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/35px-Flag_of_France.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/45px-Flag_of_France.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/France" title="France">France</a></td> <td>34.0%</td> <td>34.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/35px-Flag_of_Germany.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/46px-Flag_of_Germany.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Germany" title="Germany">Germany</a></td> <td>26.4%</td> <td>26.4%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/23px-Flag_of_Hungary.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/35px-Flag_of_Hungary.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/46px-Flag_of_Hungary.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Hungary" title="Hungary">Hungary</a></td> <td>15.0%</td> <td>15.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Iceland.svg/21px-Flag_of_Iceland.svg.png" decoding="async" width="21" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Iceland.svg/32px-Flag_of_Iceland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Iceland.svg/42px-Flag_of_Iceland.svg.png 2x" data-file-width="1250" data-file-height="900" /></span></span> </span><a href="/wiki/Iceland" title="Iceland">Iceland</a></td> <td>22.0%</td> <td>22.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/35px-Flag_of_Italy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/45px-Flag_of_Italy.svg.png 2x" data-file-width="1500" data-file-height="1000" /></span></span> </span><a href="/wiki/Italy" title="Italy">Italy</a></td> <td>26.0%</td> <td>26.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/9e/Flag_of_Japan.svg/23px-Flag_of_Japan.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/9e/Flag_of_Japan.svg/35px-Flag_of_Japan.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/9e/Flag_of_Japan.svg/45px-Flag_of_Japan.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Japan" title="Japan">Japan</a></td> <td>20.3%</td> <td>20.3%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Norway.svg/21px-Flag_of_Norway.svg.png" decoding="async" width="21" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Norway.svg/32px-Flag_of_Norway.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Norway.svg/41px-Flag_of_Norway.svg.png 2x" data-file-width="512" data-file-height="372" /></span></span> </span><a href="/wiki/Norway" title="Norway">Norway</a></td> <td>31.7%</td> <td>31.7%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/23px-Flag_of_Poland.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/35px-Flag_of_Poland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/46px-Flag_of_Poland.svg.png 2x" data-file-width="1280" data-file-height="800" /></span></span> </span><a href="/wiki/Poland" title="Poland">Poland</a></td> <td>19.0%</td> <td>19.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/23px-Flag_of_Portugal.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/35px-Flag_of_Portugal.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/45px-Flag_of_Portugal.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Portugal" title="Portugal">Portugal</a></td> <td>28.0%</td> <td>28.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4c/Flag_of_Sweden.svg/23px-Flag_of_Sweden.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4c/Flag_of_Sweden.svg/35px-Flag_of_Sweden.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4c/Flag_of_Sweden.svg/46px-Flag_of_Sweden.svg.png 2x" data-file-width="1600" data-file-height="1000" /></span></span> </span><a href="/wiki/Sweden" title="Sweden">Sweden</a></td> <td>30.0%</td> <td>30.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/35px-Flag_of_Spain.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/45px-Flag_of_Spain.svg.png 2x" data-file-width="750" data-file-height="500" /></span></span> </span><a href="/wiki/Spain" title="Spain">Spain</a></td> <td>26.0%</td> <td>26.0%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/35px-Flag_of_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/46px-Flag_of_the_United_States.svg.png 2x" data-file-width="1235" data-file-height="650" /></span></span> </span><a href="/wiki/United_States" title="United States">United States</a></td> <td>29.2%</td> <td>29.2%</td> <td>0.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/23px-Flag_of_the_Netherlands.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/35px-Flag_of_the_Netherlands.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/45px-Flag_of_the_Netherlands.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Netherlands" title="Netherlands">Netherlands</a></td> <td>31.0%</td> <td>26.9%</td> <td>-4.1% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/23px-Flag_of_Lithuania.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/35px-Flag_of_Lithuania.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/46px-Flag_of_Lithuania.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Lithuania" title="Lithuania">Lithuania</a> </td> <td>20.0% </td> <td>15.0% </td> <td>-5.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/23px-Flag_of_Finland.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/35px-Flag_of_Finland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/46px-Flag_of_Finland.svg.png 2x" data-file-width="1800" data-file-height="1100" /></span></span> </span><a href="/wiki/Finland" title="Finland">Finland</a></td> <td>34.0%</td> <td>28.9%</td> <td>-5.1% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/78/Flag_of_Chile.svg/23px-Flag_of_Chile.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/78/Flag_of_Chile.svg/35px-Flag_of_Chile.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/78/Flag_of_Chile.svg/45px-Flag_of_Chile.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Chile" title="Chile">Chile</a></td> <td>40.0%</td> <td>33.3%</td> <td>-6.7% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/23px-Flag_of_Greece.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/35px-Flag_of_Greece.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/45px-Flag_of_Greece.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Greece" title="Greece">Greece</a></td> <td>15.0%</td> <td>5.0%</td> <td>-10.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/23px-Flag_of_Estonia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/35px-Flag_of_Estonia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/46px-Flag_of_Estonia.svg.png 2x" data-file-width="990" data-file-height="630" /></span></span> </span><a href="/wiki/Estonia" title="Estonia">Estonia</a></td> <td>20.0%</td> <td>0.0%</td> <td>-20.0% </td></tr> <tr> <td><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/23px-Flag_of_Latvia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/35px-Flag_of_Latvia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/46px-Flag_of_Latvia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Latvia" title="Latvia">Latvia</a> </td> <td>20.0% </td> <td>0.0% </td> <td>-20.0% </td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=8" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2003, President <a href="/wiki/George_W._Bush" title="George W. Bush">George W. Bush</a> proposed the elimination of the U.S. dividend tax saying that "double taxation is bad for our economy and falls especially hard on retired people". He also argued that while "it's fair to tax a company's profits, it's not fair to double-tax by taxing the <a href="/wiki/Shareholder" title="Shareholder">shareholder</a> on the same profits."<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <table class="wikitable" style="text-align:right"> <caption><b>Dividend Taxation in the United States since 2003</b><sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </caption> <tbody><tr> <th colspan="3" style="background:#efefef;">2003 – 2007</th> <th colspan="3" style="background:#efefef;">2008 – 2012</th> <th colspan="3" style="background:#efefef;">2013 – forward </th></tr> <tr> <th width="75">Ordinary Income Tax Rate </th> <th width="100">Ordinary Dividend<br />Tax Rate </th> <th width="100">Qualified Dividend<br />Tax Rate </th> <th width="75">Ordinary Income Tax Rate </th> <th width="100">Ordinary Dividend<br />Tax Rate </th> <th width="100">Qualified Dividend<br />Tax Rate </th> <th width="75">Ordinary Income Tax Rate </th> <th width="100">Ordinary Dividend<br />Tax Rate </th> <th width="100">Qualified Dividend<br />Tax Rate </th></tr> <tr> <td style="background:#efefef;"><b>10%</b></td> <td>10%</td> <td>5% </td> <td style="background:#efefef;"><b>10%</b></td> <td>10%</td> <td>0% </td> <td style="background:#efefef;"><b>10%</b></td> <td>10%</td> <td>0% </td></tr> <tr> <td style="background:#efefef;"><b>15%</b></td> <td>15%</td> <td>5% </td> <td style="background:#efefef;"><b>15%</b></td> <td>15%</td> <td>0% </td> <td style="background:#efefef;"><b>15%</b></td> <td>15%</td> <td>0% </td></tr> <tr> <td style="background:#efefef;"><b>25%</b></td> <td>25%</td> <td>15% </td> <td style="background:#efefef;"><b>25%</b></td> <td>25%</td> <td>15% </td> <td style="background:#efefef;"><b>25%</b></td> <td>25%</td> <td>15% </td></tr> <tr> <td style="background:#efefef;"><b>28%</b></td> <td>28%</td> <td>15% </td> <td style="background:#efefef;"><b>28%</b></td> <td>28%</td> <td>15% </td> <td style="background:#efefef;"><b>28%</b></td> <td>28%</td> <td>15% </td></tr> <tr> <td style="background:#efefef;"><b>33%</b></td> <td>33%</td> <td>15% </td> <td style="background:#efefef;"><b>33%</b></td> <td>33%</td> <td>15% </td> <td style="background:#efefef;"><b>33%</b></td> <td>33%</td> <td>15% </td></tr> <tr> <td style="background:#efefef;" rowspan="2"><b>35%</b></td> <td rowspan="2">35%</td> <td rowspan="2">15% </td> <td style="background:#efefef;" rowspan="2"><b>35%</b></td> <td rowspan="2">35%</td> <td rowspan="2">15% </td> <td style="background:#efefef;"><b>35%</b></td> <td>35%</td> <td>15% </td></tr> <tr> <td style="background:#efefef;"><b>39.6%</b></td> <td>39.6%</td> <td>20% </td></tr></tbody></table> <p>Soon after, Congress passed the <a href="/wiki/Jobs_and_Growth_Tax_Relief_Reconciliation_Act_of_2003" title="Jobs and Growth Tax Relief Reconciliation Act of 2003">Jobs and Growth Tax Relief Reconciliation Act of 2003</a> (JGTRRA), which included some of the cuts Bush requested and which he signed into law on May 28, 2003. Under the new law, <a href="/wiki/Qualified_dividend" title="Qualified dividend">qualified dividends</a> are taxed at the same rate as long-term <a href="/wiki/Capital_gain" title="Capital gain">capital gains</a>, which is 15 percent for most individual taxpayers. Qualified dividends received by individuals in the 10% and 15% <a href="/wiki/Rate_schedule_(federal_income_tax)" title="Rate schedule (federal income tax)">income tax brackets</a> were taxed at 5% from 2003 to 2007. The qualified dividend tax rate was set to expire December 31, 2008; however, the <a href="/wiki/Tax_Increase_Prevention_and_Reconciliation_Act_of_2005" title="Tax Increase Prevention and Reconciliation Act of 2005">Tax Increase Prevention and Reconciliation Act of 2005</a> (TIPRA) extended the lower tax rate through 2010 and further cut the tax rate on qualified dividends to 0% for individuals in the 10% and 15% income tax brackets. On December 17, 2010, President <a href="/wiki/Barack_Obama" title="Barack Obama">Barack Obama</a> signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. The legislation extends for two additional years the changes enacted to the taxation of dividends in the JGTRRA and TIPRA.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>In addition, the <a href="/wiki/Patient_Protection_and_Affordable_Care_Act" class="mw-redirect" title="Patient Protection and Affordable Care Act">Patient Protection and Affordable Care Act</a> created a new Net Investment Income Tax (NIIT) of 3.8% that applies to dividends, capital gains, and several other forms of passive investment income, effective January 1, 2013. The NIIT applies to married taxpayers with modified adjusted gross income over $250,000, and single taxpayers with modified adjusted gross income over $200,000. Unlike the thresholds for ordinary income tax rates and the qualified dividend rates, the NIIT threshold is not inflation-adjusted.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>Had the Bush-era federal income tax rates of 10, 15, 25, 28, 33 and 35 percent brackets been allowed to expire for tax year 2012, the rates would have increased to the Clinton-era rate schedule of 15, 28, 31, 36, and 39.6 percent. In that scenario, qualified dividends would no longer be taxed at the long-term capital gains rate, but would revert to being taxed at the taxpayer's regular income tax rate. However, the <a href="/wiki/American_Taxpayer_Relief_Act_of_2012" title="American Taxpayer Relief Act of 2012">American Taxpayer Relief Act of 2012</a> (H.R. 8) was passed by the United States Congress and signed into law by President Barack Obama in the first days of 2013. This legislation extended the 0 and 15 percent capital gains and dividends tax rates for taxpayers whose income does not exceed the thresholds set for the highest income tax rate (39.6 percent). Those who exceed those thresholds ($400,000 for single filers; $425,000 for heads of households; $450,000 for joint filers; $11,950 for estates and trusts) became subject to a top rate of 20 percent for capital gains and dividends.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Canada">Canada</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=9" title="Edit section: Canada"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In Canada, there is taxation of dividends, which is compensated by a dividend tax credit (DTC) for personal income in dividends from Canadian corporations. An increase to the DTC was <a href="/wiki/Income_trust#Dividend_tax_cut_announcement" title="Income trust">announced</a> in the fall of 2005 in conjunction with the announcement that Canadian <a href="/wiki/Income_trust" title="Income trust">income trusts</a> would not become subject to dividend taxation as had been feared. Effective tax rates on dividends will now range from negative to over 30% depending on income level and different provincial tax rates and credits. Starting 2006, the Government introduced the concept of eligible dividends.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Income not eligible for the Small Business Deduction and therefore taxed at higher corporate tax rates, can be distributed to the shareholders and taxed at a lower personal tax rate. </p> <div class="mw-heading mw-heading3"><h3 id="India">India</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=10" title="Edit section: India"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In India, earlier dividends were taxed in the hands of the recipient as any other income. However, since 1 June 1997, all domestic companies were liable to pay a <i>dividend distribution tax</i> on the profits distributed as dividends resulting in a smaller net dividend to the recipients. The rate of taxation alternated between 10% and 20%<sup id="cite_ref-India_surcharge_24-0" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> until the tax was abolished with effect from 31 March 2002.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> The dividend distribution tax was also extended to dividends distributed since 1 June 1999 by domestic <a href="/wiki/Mutual_fund" title="Mutual fund">mutual funds</a>, with the rate alternating between 10% and 20%<sup id="cite_ref-India_surcharge_24-1" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> in line with the rate for companies, up to 31 March 2002. However, dividends from open-ended equity oriented funds distributed between 1 April 1999 and 31 March 2002 were not taxed.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> Hence the dividends received from domestic companies since 1 June 1997, and domestic mutual funds since 1 June 1999, were made non-taxable in the hands of the recipients to avoid double-taxation, until 31 March 2002.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p><p>The budget for the financial year 2002–2003 proposed the removal of dividend distribution tax bringing back the regime of dividends being taxed in the hands of the recipients and the Finance Act 2002 implemented the proposal for dividends distributed since 1 April 2002. This fueled negative sentiments in the Indian <a href="/wiki/Stock_market" title="Stock market">stock markets</a> causing stock prices to go down.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> However the next year there were wide expectations for the budget to be friendlier to the markets<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> and the dividend distribution tax was reintroduced. </p><p>Hence the dividends received from domestic companies and mutual funds since 1 April 2003 were again made non-taxable at the hands of the recipients.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> However the new dividend distribution tax rate for companies was higher at 12.5%,<sup id="cite_ref-India_surcharge_24-2" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> and was increased with effect from 1 April 2007 to 15%.<sup id="cite_ref-India_surcharge_24-3" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Unit_Trust_of_India" class="mw-redirect" title="Unit Trust of India">Unit Trust of India</a> converted some units to tax-free bonds.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> The taxation rate for mutual funds was originally 12.5%<sup id="cite_ref-India_surcharge_24-4" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> but was increased to 20%<sup id="cite_ref-India_surcharge_24-5" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> for dividends distributed to entities other than individuals with effect from 9 July 2004.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> With effect from 1 June 2006 all equity oriented funds were kept out of the tax net but the tax rate was increased to 25%<sup id="cite_ref-India_surcharge_24-6" class="reference"><a href="#cite_note-India_surcharge-24"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> for money market and liquid funds with effect from 1 April 2007.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>Dividend income received by domestic companies until 31 March 1997 carried a deduction in computing the taxable income but the provision was removed with the advent of the dividend distribution tax.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> A deduction to the extent of received dividends redistributed in turn to their shareholders resurfaced briefly from 1 April 2002 to 31 March 2003 during the time the dividend distribution tax was removed to avoid double taxation of the dividends both in the hands of the company and its shareholders<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> but there has been no similar provision for dividend distribution tax. However the budget for 2008–2009 proposes to remove the double taxation for the specific case of dividends received by a domestic <a href="/wiki/Holding_company" title="Holding company">holding company</a> (with no parent company) from a subsidiary that is in turn distributed to its shareholders.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> Budget 2020-2021 saw abolishment of DDT(d<i>ividend distribution tax)</i> and the d<i>ividend</i> income being taxed in the hands of investor according to income tax slab rates.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Korea">Korea</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=11" title="Edit section: Korea"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Korea regulates the amount of possible dividends, payment time of dividends, and how to make decisions on dividends in the commercial law, since dividends are considered an outflow of profits from the company. Currently, 15.4 percent of dividend tax is collected as soon as the dividend is paid (private : 14% of the dividend income tax, residence tax : 1.4% of the dividend income tax). Separate taxation is possible below ₩20 million(€15 thousand) of dividend income, and if it is exceed, they become subject to total taxation. In addition, if the financial income (interest, dividend income) exceeds ₩20 million, a report of total income tax must be made. In the relationship between shareholders and creditors, the main principle of the commercial law is that the rights of company creditors should take precedence over those of shareholders who have limited liability to the property of the company. Stockholders always want to receive more money, but from the firm point of view, if they allocate too much money, the reduction of equity capital could lead to the failure of the company. That's why government regulates the possible amount of dividends.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Other_countries">Other countries</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=12" title="Edit section: Other countries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Australia, Chile and New Zealand have a <a href="/wiki/Dividend_imputation" title="Dividend imputation">dividend imputation</a> system, which entitles shareholders to claim a tax credit for the <a href="/wiki/Franking_credit" class="mw-redirect" title="Franking credit">franking credits</a> attached to dividends, being a share of the corporate tax paid by the corporation. A recipient of a fully franked dividend on the top marginal tax rate will effectively pay only about 15% tax on the cash amount of the dividend. In effect, when distributed as dividends, the profits of a corporation are taxed at the average of the shareholders' marginal tax rates; otherwise they are taxed at the <a href="/wiki/Corporate_tax" title="Corporate tax">corporate tax</a> rate. </p><p>In <a href="/wiki/Armenia" title="Armenia">Armenia</a> there hasn't been a dividend tax until the recently adapted tax law upon which citizens of Armenia pay 5% and non-citizens 10% of the annual income. </p><p>In Austria the KeSt (Kapitalertragsteuer) is used as dividend tax rate, which is 27.5% on dividends. </p><p>In Belgium there is a tax of 30% on dividends, known as "roerende voorheffing" (in Dutch) or "précompte mobilier" (in French). Citizens can claim back their taxes on the first 800 EUR (2021) of received dividends through their tax declaration. </p><p>In Brazil, dividends are <a href="/wiki/Tax-exempt" class="mw-redirect" title="Tax-exempt">tax-exempt</a>. </p><p>In Bulgaria there is a tax of 5% on dividends. </p><p>In China, the dividend tax rate is 20%, but since June 13, 2005, 50% of the dividend is taxed. </p><p>In the Czech Republic there is a tax of 15% on dividends. Government in 2012 wanted to reduce double taxation on corporates income, but this did not pass in the end. </p><p>In Estonia, the regular dividend tax rate is 20%. Since a new law was conducted in 01.01.2018, companies can pay dividends with a tax rate of 14% ONLY to resident and non-resident juridical persons. </p><p>In Finland, there is a tax of 25,5% or 27,2% on dividends (85% of dividend is taxable capital income and capital gain tax rate is 30% for capital gains lower than 30 000 and 34% for the part that exceeds 30 000). However, effective tax rates are 45.5% or 47.2% for private person. That's because corporate earnings have already been taxed, which means that dividends are taxed twice. Corporate income tax is 20%. </p><p>In France the taxpayer chooses either a tax of 30% on dividends, or to include the dividend in his income tax calculation with a 40% rebate, plus 17.2% social tax. </p><p>In Germany there is a tax of 25% on dividends, known as "Abgeltungssteuer", plus a solidarity tax of 5.5% on the dividend tax. Effectually there is a tax of 26.375%. </p><p>In Greece there is a tax of 5% on dividends for private persons. </p><p>In Hong Kong, there is no dividend tax. </p><p>In Iran there are no taxes on dividends, according to article (105). </p><p>In Ireland, companies paying dividends must generally withhold tax at the standard rate (as of 2007<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&action=edit">[update]</a></sup>, 20%) from the dividend and issue a tax voucher to include details of the tax paid. A person not liable to tax can reclaim it at the end of year, while a person liable to a higher rate of tax must declare it and pay the difference. </p><p>In Israel there is a tax of 28% on dividends for individuals and 33% for major shareholders (=above 10%). If a company receives a dividend, the tax is 0%. </p><p>In Italy there is a tax of 26% on dividends, known as "capital gain tax". </p><p>In Japan, there is a tax of 10% on dividends from listed stocks (7% for Nation, 3% for Region) while Jan 1st 2009 - Dec 31 2012, by tax reduction rule. After Jan 1st 2013, the tax of 20% on dividends from listed stocks (15% for Nation, 5% for Region). In case of an individual person who has over 5% of total issued stocks (value or number), he/she can not apply the tax reduction rule, so after Jan 1st 2009, should pay 20%(15%+5%). There is a tax of 20% on dividends from Non-listed stocks (20% for Nation, 0% for Region).<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p><p>In Luxembourg, only 50% of dividends paid out by corporations is subject to tax in the hands of an individual tax payer at the applicable marginal tax rate.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> Therefore, dividends are taxed at up to 21% if received from a corporation that is subject to tax and up to 40% if received from a corporation that does not satisfy the "subject to tax" test. </p><p>In the Netherlands there's a tax on the assumed return on assets in general (except bank savings, for which a separate rate applies), regardless of the actual dividend, as part of the <a href="/wiki/Income_tax_in_the_Netherlands#Tax_on_savings_and_investments_(box_3)" title="Income tax in the Netherlands">tax on savings and investments</a>.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> For major shareholders (over 5%) there is a different tax scheme, based on the actual dividend (in addition to the profit tax paid by the company). </p><p>In Norway dividends are taxed as capital gains, at a flat 31.7% tax rate. However a "shelter deduction" is applied to the dividend income to compensate for the lost interest income. The size of the shelter deduction is based on the interest rate on short term government bonds and was 1.1% in 2013. For example, if NOK 100,000 has been invested in a company stock that gave a dividend of NOK 4,000, the shelter deduction is NOK 1,100 (1.1% of NOK 100,000) and the remaining NOK 2,900 is taxed at 27%. </p><p>In Pakistan income tax of 10% as required by the Income Tax Ordinace, 2001 on the amount of dividend is deducted at source. A surcharge of 15% on income tax is withheld and will be duly paid by the company to Government of Pakistan as per Income Tax (Amendment) Ordinance, 2011. </p><p>In Poland there is a tax of 19% on dividends. This rate is equal to the rates of capital gains and other taxes. </p><p>In Romania there is a tax of 5% paid to private investors and 16% when paid to companies, on dividends since 1 February 2017. Additionally, private investors must pay a 5.5% healthcare tax on earnings from dividends. </p><p>In Singapore, there is no dividend tax. </p><p>In Slovakia, tax residents' income from dividends is not subject to income taxation in the Slovak Republic pursuant to Article 12 Section 7 Letter c) for legal entities and to Article 3 Section 2 Letter c) for individual entities of Income Tax Act No. 595/2003 Coll. as amended. This applies to dividends from profits relating to the calendar year 2004 onwards (regardless of when the dividends were actually paid out). Before that, dividends were taxed as normal income. The stated justification is that tax at 19 percent has already been paid by the company as part of its corporation tax (in Slovak "Income Tax for a Legal Entity"). However, there is no provision for residents to reclaim tax on dividends withheld in other jurisdictions with which Slovakia has a double-taxation treaty. Foreign resident owners of shares in Slovak companies may have to declare and pay tax in their local jurisdiction. Shares of profits made by investment funds are taxable as income at 19 percent. Resident natural persons have to pay 14% of received dividends as health insurance with maximum payment of €14,000, non-resident natural persons and companies are not subject of this "capital gain health tax". </p><p>In South Africa there is a tax of 20% on dividends.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p><p>In Spain, dividends are taxed between 19 and 23%, based on yearly dividend income. This tax rate is applicable between 2016 and 2019.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p><p>In Sweden there is a tax of 30% on dividends. </p><p>In Taiwan, the dividends are taken into account in the taxation of one's <a href="/wiki/Gross_income" title="Gross income">gross income</a>, though varying from one stock to another, there is a specific deduction rate to the gross income tax if one holds this corresponding stock on the <a href="/w/index.php?title=In-dividend_date&action=edit&redlink=1" class="new" title="In-dividend date (page does not exist)">in-dividend date</a> (once per year). Beginning from January 2013, there will be an additional 2% "tax" on all dividends, serving as the supplemental premium for the second-generation <a href="/wiki/Healthcare_in_Taiwan" title="Healthcare in Taiwan">National Health Insurance (NHI) of Taiwan</a>. </p><p>In Turkey there is an <a href="/wiki/Income_tax" title="Income tax">income tax</a> withholding of 20% on dividends. Dividend income from foreign sources are taxed at the marginal tax rates. As of 2020, highest marginal tax rate is 40%. </p><p>In the United Kingdom, companies pay <a href="/wiki/United_Kingdom_corporation_tax" title="United Kingdom corporation tax">UK corporation tax</a> on their profits and the remainder can be paid to shareholders as dividends. From April 2018, the first £2,000 of dividend income is untaxed, regardless of the taxpayer's other income; dividends above this amount are taxed at 7.5% in basic rate income tax band, 32.5% in higher rate income tax band and 38.1% in additional rate income tax band.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=13" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Corporate_tax#Company_shareholder_taxation" title="Corporate tax">Corporate tax: company shareholder taxation</a></li> <li><a href="/wiki/Passive_income" title="Passive income">Passive income</a></li> <li><a href="/wiki/Estate_tax_(United_States)" class="mw-redirect" title="Estate tax (United States)">Estate tax (United States)</a></li> <li><a href="/wiki/State_income_tax" title="State income tax">State income tax</a></li> <li><a href="/wiki/Double_taxation" title="Double taxation">Double taxation</a></li> <li><a href="/wiki/Taxation_in_the_United_States" title="Taxation in the United States">Taxation in the United States</a></li> <li><a href="/wiki/Withholding_tax" class="mw-redirect" title="Withholding tax">Withholding tax</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=14" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-lower-alpha"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text">US economists use the term "double taxation" in reference to the tax on dividends due to the fact that dividend income is paid out of corporate profits and represent a portion of the profit stream owned by shareholders. Since corporate profits are taxed first at the corporate tax rate, they are taxed again when paid out as dividends (or capital gains, which are a derivative of corporate profits). Note that in international usage, this term means the practice of taxing the same income in two different national jurisdictions.</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=15" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Ibid plainlinks metadata ambox ambox-style" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/40px-Edit-clear.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/60px-Edit-clear.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/80px-Edit-clear.svg.png 2x" data-file-width="48" data-file-height="48" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">Constructs such as <i><a href="/wiki/Ibid." title="Ibid.">ibid.</a></i>, <i><a href="/wiki/Loc._cit." title="Loc. cit.">loc. cit.</a></i> and <i><a href="/wiki/Idem" title="Idem">idem</a></i> are <b>discouraged by <a href="/wiki/Wikipedia:IBID" class="mw-redirect" title="Wikipedia:IBID">Wikipedia's style guide</a> for footnotes</b>, as they are easily broken. Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&action=edit">improve this article</a> by replacing them with <a href="/wiki/Wikipedia:Footnotes#Naming_a_ref_tag_so_it_can_be_used_more_than_once" class="mw-redirect" title="Wikipedia:Footnotes">named references</a> (<i><a href="/wiki/Template:Refref/core" title="Template:Refref/core">quick guide</a></i>), or an abbreviated title. <span class="date-container"><i>(<span class="date">January 2021</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text">Australian Taxation Office, <a rel="nofollow" class="external text" href="https://www.ato.gov.au/Forms/You-and-your-shares-2003/?page=26">Deemed dividends from private companies</a></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFJoint_Committee_on_Internal_Revenue_Taxation1961" class="citation book cs1">Joint Committee on Internal Revenue Taxation, Staff of (July 25, 1961). <a rel="nofollow" class="external text" href="https://www.jct.gov/getattachment/0b8cb6a1-44b3-4cbe-99a8-4cdaabbff2d3/jcs-6-61-4129.pdf"><i>History of Exemption of Dividend Income under the Individual Income Tax 1913-1961</i></a> <span class="cs1-format">(PDF)</span>. Washington D.C.: U.S. Government Printing Office. pp. 1–2.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=History+of+Exemption+of+Dividend+Income+under+the+Individual+Income+Tax+1913-1961&rft.place=Washington+D.C.&rft.pages=1-2&rft.pub=U.S.+Government+Printing+Office&rft.date=1961-07-25&rft.aulast=Joint+Committee+on+Internal+Revenue+Taxation&rft.aufirst=Staff+of&rft_id=https%3A%2F%2Fwww.jct.gov%2Fgetattachment%2F0b8cb6a1-44b3-4cbe-99a8-4cdaabbff2d3%2Fjcs-6-61-4129.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.dividend.com/taxes/a-brief-history-of-dividend-tax-rates/Dividend.com">"Dividend.com"</a>. <i>Dividend.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2023-06-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Dividend.com&rft.atitle=Dividend.com&rft_id=https%3A%2F%2Fwww.dividend.com%2Ftaxes%2Fa-brief-history-of-dividend-tax-rates%2FDividend.com&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCongressional_Research_Service2014" class="citation web cs1"><a href="/wiki/Congressional_Research_Service" title="Congressional Research Service">Congressional Research Service</a> (2014-03-10). <a rel="nofollow" class="external text" href="https://www.everycrsreport.com/reports/R43418.html#_Toc382291689">"The Taxation of Dividends: Background and Overview"</a>. <i>www.everycrsreport.com</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180609124811/https://www.everycrsreport.com/reports/R43418.html#_Toc382291689">Archived</a> from the original on 2018-06-09<span class="reference-accessdate">. Retrieved <span class="nowrap">2019-09-09</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.everycrsreport.com&rft.atitle=The+Taxation+of+Dividends%3A+Background+and+Overview&rft.date=2014-03-10&rft.au=Congressional+Research+Service&rft_id=https%3A%2F%2Fwww.everycrsreport.com%2Freports%2FR43418.html%23_Toc382291689&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.newaccountantusa.com/newsFeat/wealthManagement/TaxPaperDividends.pdf">Double Taxation of Dividends: Is the Question Resolved? By Novella Clevenger and Ken Pfannenstiel</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110514214046/http://www.newaccountantusa.com/newsFeat/wealthManagement/TaxPaperDividends.pdf">Archived</a> May 14, 2011, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> published in New Accountant magazine.</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.westga.edu/~bquest/2002/double.htm">Double Taxation of Dividends: A Clarification</a> by Confidence W. Amadi, West Georgia University</span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBoisselMatray2022" class="citation journal cs1">Boissel, Charles; Matray, Adrien (2022). <a rel="nofollow" class="external text" href="https://www.aeaweb.org/articles?id=10.1257/aer.20210369">"Dividend Taxes and the Allocation of Capital"</a>. <i>American Economic Review</i>. <b>112</b> (9): 2884–2920. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1257%2Faer.20210369">10.1257/aer.20210369</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0002-8282">0002-8282</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=Dividend+Taxes+and+the+Allocation+of+Capital&rft.volume=112&rft.issue=9&rft.pages=2884-2920&rft.date=2022&rft_id=info%3Adoi%2F10.1257%2Faer.20210369&rft.issn=0002-8282&rft.aulast=Boissel&rft.aufirst=Charles&rft.au=Matray%2C+Adrien&rft_id=https%3A%2F%2Fwww.aeaweb.org%2Farticles%3Fid%3D10.1257%2Faer.20210369&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span>{{Retracted|doi=10.1257/aer.113.7.2053|<a rel="nofollow" class="external free" href="https://retractionwatch.com/2023/07/18/econ-study-retracted-after-researchers-find-undocumented-alterations-in-the-code/">https://retractionwatch.com/2023/07/18/econ-study-retracted-after-researchers-find-undocumented-alterations-in-the-code/</a> <i>Retraction Watch</i>}|intentional=yes}</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external free" href="https://retractionwatch.com/2023/07/18/econ-study-retracted-after-researchers-find-undocumented-alterations-in-the-code/">https://retractionwatch.com/2023/07/18/econ-study-retracted-after-researchers-find-undocumented-alterations-in-the-code/</a></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20040204191706/http://www.cato.org/research/articles/edwards-030108.html">"Dividend Tax Relief: Long Overdue"</a>. Archived from <a rel="nofollow" class="external text" href="http://www.cato.org/research/articles/edwards-030108.html">the original</a> on 2004-02-04<span class="reference-accessdate">. Retrieved <span class="nowrap">2004-02-05</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Dividend+Tax+Relief%3A+Long+Overdue&rft_id=http%3A%2F%2Fwww.cato.org%2Fresearch%2Farticles%2Fedwards-030108.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span> The Cato Institute</span> </li> <li id="cite_note-PresPanel-11"><span class="mw-cite-backlink">^ <a href="#cite_ref-PresPanel_11-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-PresPanel_11-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>Statement by the Members of the President’s Advisory Panel on Federal Tax Reform</i> <a rel="nofollow" class="external free" href="https://govinfo.library.unt.edu/taxreformpanel/04132005.pdf">https://govinfo.library.unt.edu/taxreformpanel/04132005.pdf</a></span> </li> <li id="cite_note-reform-12"><span class="mw-cite-backlink">^ <a href="#cite_ref-reform_12-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-reform_12-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>Proposals to Fix America’s Tax System.</i> Connie Mack, III (Chairman), John Breaux (Vice-Chairman), Jeffrey F. Kupfer (Executive Director), Members: William E. Frenzel, Elizabeth Garrett, Edward P. Lazear, Timothy J. Muris, James M. Poterba, Charles O. Rossotti, Liz Ann Sonders. <a rel="nofollow" class="external free" href="https://www.treasury.gov/resource-center/tax-policy/Documents/Report-Fix-Tax-System-2005.pdf">https://www.treasury.gov/resource-center/tax-policy/Documents/Report-Fix-Tax-System-2005.pdf</a> (They also note that, over time, capital flight may shift part of the combined tax burden onto employees and consumers.)</span> </li> <li id="cite_note-incm-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-incm_13-0">^</a></b></span> <span class="reference-text">R.M.Haig. <i>The Concept of Income.</i> In R.M.Haig(ed). <i>The Federal Income Tax,</i> 1921.</span> </li> <li id="cite_note-etx-14"><span class="mw-cite-backlink">^ <a href="#cite_ref-etx_14-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-etx_14-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">L.Levin. <i>Taxation and Valuation.</i> Tax Notes Federal, 164(7):1065-1067, section "Cash Taxes Cannot Avoid Distortion of Incentives" <a rel="nofollow" class="external free" href="https://www.taxnotes.com/tax-notes-federal/tax-policy/taxation-and-valuation/2019/08/12/29rhn">https://www.taxnotes.com/tax-notes-federal/tax-policy/taxation-and-valuation/2019/08/12/29rhn</a></span> </li> <li id="cite_note-fix-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-fix_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-fix_15-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">ibid. section "Just One Issue in a Broader Scope".</span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text">Lanfeng Kao & Anlin Chen (2011): <i>Dividend policy and elimination of double taxation of dividends;</i> Asia-Pacific Journal of Financial Studies. 2011</span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://taxfoundation.org/savings-and-investment-oecd/">"Savings and Investment: The Tax Treatment of Stock and Retirement Accounts in the OECD"</a>. <i>Tax Foundation</i>. 2021-05-26<span class="reference-accessdate">. Retrieved <span class="nowrap">2022-07-16</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Tax+Foundation&rft.atitle=Savings+and+Investment%3A+The+Tax+Treatment+of+Stock+and+Retirement+Accounts+in+the+OECD&rft.date=2021-05-26&rft_id=https%3A%2F%2Ftaxfoundation.org%2Fsavings-and-investment-oecd%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">The White House: <a rel="nofollow" class="external text" href="https://georgewbush-whitehouse.archives.gov/news/releases/2003/01/20030107-5.html">President Discusses Taking Action to Strengthen America's Economy </a></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.kiplinger.com/features/archives/2008/11/tax-planning-tax-law-changes4.html?kipad_id=44">"Tax Law Changes for 2008 - 2017." <i>Kiplinger's</i>. <www.kiplinger.com> Published March 2009. Accessed 28 August 2009.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090815005121/http://www.kiplinger.com/features/archives/2008/11/tax-planning-tax-law-changes4.html?kipad_id=44">Archived</a> 15 August 2009 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://economy.cbh.com/2010/12/two-year-extension-of-bush-era-tax-cuts-becomes-law/">"Two Year Extension of Bush-era Tax Cut Becomes Law Published December 21, 2010. Accessed December 31, 2010.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20101226091208/http://economy.cbh.com/2010/12/two-year-extension-of-bush-era-tax-cuts-becomes-law/">Archived</a> December 26, 2010, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs">"Questions and Answers on the Net Investment Income Tax"</a> Internal Revenue Service</span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external free" href="https://www.gpo.gov/fdsys/pkg/BILLS-112hr8enr/pdf/BILLS-112hr8enr.pdf">http://www.gpo.gov/fdsys/pkg/BILLS-112hr8enr/pdf/BILLS-112hr8enr.pdf</a> <sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Bare_URLs" title="Wikipedia:Bare URLs"><span title="A full citation of this PDF document is required to prevent link rot. (March 2022)">bare URL PDF</span></a></i>]</sup></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://carleton.ca/profbrouard/wp-content/uploads/PWCTaxFactsFiguresEN_2006.pdf">"PwC Tax Facts and Figures"</a> <span class="cs1-format">(PDF)</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=PwC+Tax+Facts+and+Figures&rft_id=https%3A%2F%2Fcarleton.ca%2Fprofbrouard%2Fwp-content%2Fuploads%2FPWCTaxFactsFiguresEN_2006.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-India_surcharge-24"><span class="mw-cite-backlink">^ <a href="#cite_ref-India_surcharge_24-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-India_surcharge_24-6"><sup><i><b>g</b></i></sup></a></span> <span class="reference-text">Indian dividend distribution taxes are subject to a surcharge since 2000 and an education cess since 2004 — as of 2007<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&action=edit">[update]</a></sup> the effect is to increase the tax to 1.133 times the rate, as per the sub-sections (4), (11) and (12) of the section 2 of the <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080910031807/http://www.taxmann.net/Directtaxlaws/FA2007.pdf">"Finance Act 2007"</a> <span class="cs1-format">(PDF)</span>. Archived from <a rel="nofollow" class="external text" href="http://www.taxmann.net/Directtaxlaws/FA2007.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 2008-09-10.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Finance+Act+2007&rft_id=http%3A%2F%2Fwww.taxmann.net%2FDirecttaxlaws%2FFA2007.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span> <span style="font-size:85%;">(245 <a href="/wiki/Kibibyte" class="mw-redirect" title="Kibibyte">KiB</a>)</span></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section115O.htm">Section 115-O</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090208180034/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section115O.htm">Archived</a> February 8, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2002, added by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft91.htm">Finance Act 1997</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207021154/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft91.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, modified by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft92.htm">Finance Acts 2000, 2001</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020246/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft92.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft91a.htm">2002</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020610/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115oft91a.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section115R.htm">Section 115R</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020736/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section115R.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2002, added by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95.htm">Finance Act 1999</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020251/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, modified by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft96.htm">Finance Acts 2000, 2001</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020615/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft96.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and 2002 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207015600/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95a.htm">"Archived copy"</a>. Archived from <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95a.htm">the original</a> on 2009-02-07<span class="reference-accessdate">. Retrieved <span class="nowrap">2008-02-07</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Archived+copy&rft_id=http%3A%2F%2Flaw.incometaxindia.gov.in%2FDitTaxmann%2FIncomeTaxActs%2F2002ITAct%2FITACT2002%2Fftnsec115rft95a.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: archived copy as title (<a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">link</a>)</span><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020348/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95b.htm">"Archived copy"</a>. Archived from <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec115rft95b.htm">the original</a> on 2009-02-07<span class="reference-accessdate">. Retrieved <span class="nowrap">2008-02-07</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Archived+copy&rft_id=http%3A%2F%2Flaw.incometaxindia.gov.in%2FDitTaxmann%2FIncomeTaxActs%2F2002ITAct%2FITACT2002%2Fftnsec115rft95b.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: archived copy as title (<a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">link</a>)</span></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section10.htm">Sub-section (34) of the section 10</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207015635/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/section10.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2002, added by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft396.htm">Finance Act 1997</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090206184912/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft396.htm">Archived</a> February 6, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, modified by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft396.htm">Finance Act 1999</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090206184912/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft396.htm">Archived</a> 2009-02-06 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and removed by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft395a.htm">Finance Act 2002</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207021749/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/ITACT2002/ftnsec10ft395a.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> — The tax on dividends from companies was excluded since the tax assessment year 1 Apr 1998–31 Mar 1999, i.e. for income received since the financial year 1 Apr 1997–31 Mar 1998, however the section 115-O was introduced only with effect from 1 June 1997. Similarly for dividends from mutual funds the tax was excluded since the assessment year 2000-2001, i.e. for income received since 1 June 1999. The tax was brought back for the assessment year 2003-2004, i.e. for income received since 1 April 2002.</span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://specials.rediff.com/money/2008/feb/06slide3.htm">"rediff.com: How the Budget affects the Sensex"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=rediff.com%3A+How+the+Budget+affects+the+Sensex&rft_id=http%3A%2F%2Fspecials.rediff.com%2Fmoney%2F2008%2Ffeb%2F06slide3.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://specials.rediff.com/money/2008/feb/06slide2.htm">"rediff.com: How the Budget affects the Sensex"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=rediff.com%3A+How+the+Budget+affects+the+Sensex&rft_id=http%3A%2F%2Fspecials.rediff.com%2Fmoney%2F2008%2Ffeb%2F06slide2.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.taxmann.net/Directtaxlaws/Act2007/section10.htm">Sub-sections (34), (35) of the section 10</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090214105352/http://www.taxmann.net/Directtaxlaws/Act2007/section10.htm">Archived</a> February 14, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2007<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&action=edit">[update]</a></sup>, added by the <a rel="nofollow" class="external text" href="http://www.taxmann.net/Directtaxlaws/Act2007/ftn374section10.htm">Finance Act 2003</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090214122905/http://www.taxmann.net/Directtaxlaws/Act2007/ftn374section10.htm">Archived</a> February 14, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> — The tax was excluded since the tax assessment year 2004–2005, i.e. for income received since 1 Apr 2003.</span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090214111901/http://www.taxmann.net/Directtaxlaws/Act2007/section115O.htm">"Taxmann.net::..Direct Tax Laws"</a>. Archived from <a rel="nofollow" class="external text" href="http://www.taxmann.net/Directtaxlaws/Act2007/section115O.htm">the original</a> on 14 February 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Taxmann.net%3A%3A..Direct+Tax+Laws&rft_id=http%3A%2F%2Fwww.taxmann.net%2FDirecttaxlaws%2FAct2007%2Fsection115O.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://www.google.com/books/edition/The_Indian_Financial_System_Markets_Inst/KWw8BAAAQBAJ?hl=en&gbpv=1&dq=funds+of+the+Unit+Trust+of+India+and+equity+oriented+funds+were+kept+out+of+the+tax+net+open-ended&pg=PA577&printsec=frontcover"><i>The Indian Financial System: Markets, Institutions and Services</i></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Indian+Financial+System%3A+Markets%2C+Institutions+and+Services&rft_id=https%3A%2F%2Fwww.google.com%2Fbooks%2Fedition%2FThe_Indian_Financial_System_Markets_Inst%2FKWw8BAAAQBAJ%3Fhl%3Den%26gbpv%3D1%26dq%3Dfunds%2Bof%2Bthe%2BUnit%2BTrust%2Bof%2BIndia%2Band%2Bequity%2Boriented%2Bfunds%2Bwere%2Bkept%2Bout%2Bof%2Bthe%2Btax%2Bnet%2Bopen-ended%26pg%3DPA577%26printsec%3Dfrontcover&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/section115R.htm">Section 115R</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090208180629/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/section115R.htm">Archived</a> February 8, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2004, modified after 2002 by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/ftn91_1_563.htm">Finance Act 2003</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207015820/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/ftn91_1_563.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/ftn91a_1_563.htm">Finance (No. 2) Act 2004</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207022152/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2004ITAct/ftn91a_1_563.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090214141158/http://www.taxmann.net/Directtaxlaws/Act2007/section115R.htm">"Taxmann.net::..Direct Tax Laws"</a>. Archived from <a rel="nofollow" class="external text" href="http://www.taxmann.net/Directtaxlaws/Act2007/section115R.htm">the original</a> on 14 February 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Taxmann.net%3A%3A..Direct+Tax+Laws&rft_id=http%3A%2F%2Fwww.taxmann.net%2FDirecttaxlaws%2FAct2007%2Fsection115R.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac3zzh.htm">Section 80M</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020545/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac3zzh.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 1997, added by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac4q5w.htm">Finance (No. 2) Act 1967</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207020220/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac4q5w.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, modified by various Finance Acts and removed by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac2iht.htm">Finance Act 1997</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207021743/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/1997ITAct/itac2iht.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> — The deduction was removed since the tax assessment year 1998–1999, i.e. for income received since 1 Apr 1997.</span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/Section80m.htm">Section 80M</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207015636/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/Section80m.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> of the Income Tax Act in India as of 2003, added by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/ftn55p469.htm">Finance Act 2002</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207021200/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/ftn55p469.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and removed by the <a rel="nofollow" class="external text" href="http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/ftn54Ap469.htm">Finance Act 2003</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090207022107/http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2003ITAct/Act2003/ftn54Ap469.htm">Archived</a> February 7, 2009, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://indiabudget.nic.in/ub2008-09/bs/speecha.htm">"Government of India : Union Budget and Economic Survey (http://indiabudget.nic.in)"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Government+of+India+%3A+Union+Budget+and+Economic+Survey+%28http%3A%2F%2Findiabudget.nic.in%29&rft_id=http%3A%2F%2Findiabudget.nic.in%2Fub2008-09%2Fbs%2Fspeecha.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://economictimes.indiatimes.com/markets/stocks/news/rip-dividend-distribution-tax-but-are-you-still-feeling-a-hangover/articleshow/75624666.cms">"RIP dividend distribution tax! But are you still feeling a hangover?"</a>. <i>The Economic Times</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2021-02-15</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economic+Times&rft.atitle=RIP+dividend+distribution+tax%21+But+are+you+still+feeling+a+hangover%3F&rft_id=https%3A%2F%2Feconomictimes.indiatimes.com%2Fmarkets%2Fstocks%2Fnews%2Frip-dividend-distribution-tax-but-are-you-still-feeling-a-hangover%2Farticleshow%2F75624666.cms&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.mondaq.com/india/withholding-tax/934760/taxability-of-dividend-pre-post-budget-analysis">"Taxability Of Dividend – Pre & Post Budget Analysis - Tax - India"</a>. <i>www.mondaq.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2021-02-15</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.mondaq.com&rft.atitle=Taxability+Of+Dividend+%E2%80%93+Pre+%26+Post+Budget+Analysis+-+Tax+-+India&rft_id=https%3A%2F%2Fwww.mondaq.com%2Findia%2Fwithholding-tax%2F934760%2Ftaxability-of-dividend-pre-post-budget-analysis&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.KSD.or.kr">KSD(Korean Security Depositor)</a></span> </li> <li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.nta.go.jp/taxanswer/shotoku/1330.htm">"No.1330 配当金を受け取ったとき(配当所得)"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">14 May</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=No.1330+%E9%85%8D%E5%BD%93%E9%87%91%E3%82%92%E5%8F%97%E3%81%91%E5%8F%96%E3%81%A3%E3%81%9F%E3%81%A8%E3%81%8D%28%E9%85%8D%E5%BD%93%E6%89%80%E5%BE%97%29&rft_id=http%3A%2F%2Fwww.nta.go.jp%2Ftaxanswer%2Fshotoku%2F1330.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.impotsdirects.public.lu/legislation/LIR/Loi_modifi__e_du_4_d__cembre_1967_concernant_l_imp__t_sur_le_revenu_-_texte_coordonn___au_1er_janvier_20131.pdf#page=96">art. 115 Sect. 15a of the Loi modifiée du 4 décembre 1967 concernant l'impôt sur le revenu</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20131008010901/http://www.impotsdirects.public.lu/legislation/LIR/Loi_modifi__e_du_4_d__cembre_1967_concernant_l_imp__t_sur_le_revenu_-_texte_coordonn___au_1er_janvier_20131.pdf#page=96">Archived</a> October 8, 2013, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.expatica.com/nl/finance/taxes">"Taxes in the Netherlands"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Taxes+in+the+Netherlands&rft_id=https%3A%2F%2Fwww.expatica.com%2Fnl%2Ffinance%2Ftaxes&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.moneyweb.co.za/in-depth/budget/budget-2017-what-you-need-to-know/">"Budget 2017: What you need to know"</a>. <i>Moneyweb</i>. 22 February 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Moneyweb&rft.atitle=Budget+2017%3A+What+you+need+to+know&rft.date=2017-02-22&rft_id=https%3A%2F%2Fwww.moneyweb.co.za%2Fin-depth%2Fbudget%2Fbudget-2017-what-you-need-to-know%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.lawyersspain.eu/dividend-tax-in-spain">"Dividend Tax in Spain"</a>. <i>www.lawyersspain.eu</i>. Lawyers Spain. 18 April 2016<span class="reference-accessdate">. Retrieved <span class="nowrap">12 November</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.lawyersspain.eu&rft.atitle=Dividend+Tax+in+Spain&rft.date=2016-04-18&rft_id=http%3A%2F%2Fwww.lawyersspain.eu%2Fdividend-tax-in-spain&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.gov.uk/tax-on-dividends">"Tax on dividends"</a>. <i>gov.uk</i>. 6 November 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=gov.uk&rft.atitle=Tax+on+dividends&rft.date=2018-11-06&rft_id=https%3A%2F%2Fwww.gov.uk%2Ftax-on-dividends&rfr_id=info%3Asid%2Fen.wikipedia.org%3ADividend+tax" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Dividend_tax&action=edit&section=16" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <dl><dt>United States</dt></dl> <ul><li><a rel="nofollow" class="external text" href="http://www.dollarsandsense.org/archives/2003/0303miller.pdf">Double Taxation Double Speak: Why Repealing Dividend Taxes Is Unfair</a> from <a href="/wiki/Dollars_%26_Sense" title="Dollars & Sense">Dollars & Sense</a> magazine</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20071128090709/http://tscpa.com/Journal/articles/dividend_tax_cut_traps.pdf">The new U.S. dividend tax cut traps</a> from Tennessee CPA Journal (archived 28 November 2007)</li> <li><a rel="nofollow" class="external text" href="https://www.irs.gov/publications/p17/ch08.html">IRS Publication 17 on taxation of dividends</a></li></ul> <dl><dt>India</dt></dl> <ul><li><a rel="nofollow" class="external text" href="http://www.thehindubusinessline.com/2007/03/09/stories/2007030901060900.htm">The Hindu Business Line : How FMs have been spraying Budgets with DDT</a></li></ul> <!-- NewPP limit report Parsed by mw‐web.codfw.main‐6df7948d6c‐bfmlb Cached time: 20241127173606 Cache expiry: 2592000 Reduced expiry: false Complications: [vary‐revision‐sha1, show‐toc] CPU time usage: 0.804 seconds Real time usage: 1.069 seconds Preprocessor visited node count: 6464/1000000 Post‐expand include size: 142403/2097152 bytes Template argument size: 9318/2097152 bytes Highest expansion depth: 17/100 Expensive parser function count: 8/500 Unstrip recursion depth: 1/20 Unstrip post‐expand size: 164363/5000000 bytes Lua time usage: 0.399/10.000 seconds Lua memory usage: 7563360/52428800 bytes Number of Wikibase entities loaded: 0/400 --> <!-- Transclusion expansion time report (%,ms,calls,template) 100.00% 871.639 1 -total 37.29% 325.076 2 Template:Reflist 18.89% 164.691 1 Template:Taxation 18.39% 160.318 1 Template:Sidebar_with_collapsible_lists 13.80% 120.316 37 Template:Flag 11.31% 98.604 2 Template:Cite_book 10.45% 91.089 19 Template:Cite_web 9.36% 81.608 4 Template:Sidebar 9.10% 79.348 1 Template:Short_description 8.59% 74.905 1 Template:Expand_section --> <!-- Saved in parser cache with key enwiki:pcache:idhash:166496-0!canonical and timestamp 20241127173606 and revision id 1253922374. Rendering was triggered because: page-view --> </div><!--esi <esi:include src="/esitest-fa8a495983347898/content" /> --><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Dividend_tax&oldid=1253922374">https://en.wikipedia.org/w/index.php?title=Dividend_tax&oldid=1253922374</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Dividends" title="Category:Dividends">Dividends</a></li><li><a href="/wiki/Category:Withholding_taxes" title="Category:Withholding taxes">Withholding taxes</a></li></ul></div><div id="mw-hidden-catlinks" class="mw-hidden-catlinks mw-hidden-cats-hidden">Hidden categories: <ul><li><a href="/wiki/Category:Webarchive_template_wayback_links" title="Category:Webarchive template wayback links">Webarchive template wayback links</a></li><li><a href="/wiki/Category:All_articles_with_bare_URLs_for_citations" title="Category:All articles with bare URLs for citations">All articles with bare URLs for citations</a></li><li><a href="/wiki/Category:Articles_with_bare_URLs_for_citations_from_March_2022" title="Category:Articles with bare URLs for citations from March 2022">Articles with bare URLs for citations from March 2022</a></li><li><a href="/wiki/Category:Articles_with_PDF_format_bare_URLs_for_citations" title="Category:Articles with PDF format bare URLs for citations">Articles with PDF format bare URLs for citations</a></li><li><a href="/wiki/Category:Articles_containing_potentially_dated_statements_from_2007" title="Category:Articles containing potentially dated statements from 2007">Articles containing potentially dated statements from 2007</a></li><li><a href="/wiki/Category:All_articles_containing_potentially_dated_statements" title="Category:All articles containing potentially dated statements">All articles containing potentially dated statements</a></li><li><a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">CS1 maint: archived copy as title</a></li><li><a href="/wiki/Category:Articles_with_short_description" title="Category:Articles with short description">Articles with short description</a></li><li><a href="/wiki/Category:Short_description_matches_Wikidata" title="Category:Short description matches Wikidata">Short description matches Wikidata</a></li><li><a href="/wiki/Category:Articles_to_be_expanded_from_June_2008" title="Category:Articles to be expanded from June 2008">Articles to be expanded from June 2008</a></li><li><a href="/wiki/Category:All_articles_to_be_expanded" title="Category:All articles to be expanded">All articles to be expanded</a></li><li><a href="/wiki/Category:Articles_with_ibid_from_January_2021" title="Category:Articles with ibid from January 2021">Articles with ibid from January 2021</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 28 October 2024, at 15:52<span class="anonymous-show"> (UTC)</span>.</li> <li id="footer-info-copyright">Text is available under the <a href="/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License" title="Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License">Creative Commons Attribution-ShareAlike 4.0 License</a>; additional terms may apply. By using this site, you agree to the <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Terms_of_Use" class="extiw" title="foundation:Special:MyLanguage/Policy:Terms of Use">Terms of Use</a> and <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy" class="extiw" title="foundation:Special:MyLanguage/Policy:Privacy policy">Privacy Policy</a>. Wikipedia® is a registered trademark of the <a rel="nofollow" class="external text" href="https://wikimediafoundation.org/">Wikimedia Foundation, Inc.</a>, a non-profit organization.</li> </ul> <ul id="footer-places"> <li id="footer-places-privacy"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy">Privacy policy</a></li> <li id="footer-places-about"><a href="/wiki/Wikipedia:About">About Wikipedia</a></li> <li id="footer-places-disclaimers"><a href="/wiki/Wikipedia:General_disclaimer">Disclaimers</a></li> <li id="footer-places-contact"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us">Contact Wikipedia</a></li> <li id="footer-places-wm-codeofconduct"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Universal_Code_of_Conduct">Code of Conduct</a></li> <li id="footer-places-developers"><a href="https://developer.wikimedia.org">Developers</a></li> <li id="footer-places-statslink"><a href="https://stats.wikimedia.org/#/en.wikipedia.org">Statistics</a></li> <li id="footer-places-cookiestatement"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Cookie_statement">Cookie statement</a></li> <li id="footer-places-mobileview"><a href="//en.m.wikipedia.org/w/index.php?title=Dividend_tax&mobileaction=toggle_view_mobile" class="noprint stopMobileRedirectToggle">Mobile view</a></li> </ul> <ul id="footer-icons" class="noprint"> <li id="footer-copyrightico"><a href="https://wikimediafoundation.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/static/images/footer/wikimedia-button.svg" width="84" height="29" alt="Wikimedia Foundation" loading="lazy"></a></li> <li id="footer-poweredbyico"><a href="https://www.mediawiki.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/w/resources/assets/poweredby_mediawiki.svg" alt="Powered by MediaWiki" width="88" height="31" loading="lazy"></a></li> </ul> </footer> </div> </div> </div> <div class="vector-settings" id="p-dock-bottom"> <ul></ul> </div><script>(RLQ=window.RLQ||[]).push(function(){mw.config.set({"wgHostname":"mw-web.codfw.main-847495b4dd-pc7vp","wgBackendResponseTime":160,"wgPageParseReport":{"limitreport":{"cputime":"0.804","walltime":"1.069","ppvisitednodes":{"value":6464,"limit":1000000},"postexpandincludesize":{"value":142403,"limit":2097152},"templateargumentsize":{"value":9318,"limit":2097152},"expansiondepth":{"value":17,"limit":100},"expensivefunctioncount":{"value":8,"limit":500},"unstrip-depth":{"value":1,"limit":20},"unstrip-size":{"value":164363,"limit":5000000},"entityaccesscount":{"value":0,"limit":400},"timingprofile":["100.00% 871.639 1 -total"," 37.29% 325.076 2 Template:Reflist"," 18.89% 164.691 1 Template:Taxation"," 18.39% 160.318 1 Template:Sidebar_with_collapsible_lists"," 13.80% 120.316 37 Template:Flag"," 11.31% 98.604 2 Template:Cite_book"," 10.45% 91.089 19 Template:Cite_web"," 9.36% 81.608 4 Template:Sidebar"," 9.10% 79.348 1 Template:Short_description"," 8.59% 74.905 1 Template:Expand_section"]},"scribunto":{"limitreport-timeusage":{"value":"0.399","limit":"10.000"},"limitreport-memusage":{"value":7563360,"limit":52428800},"limitreport-logs":"table#1 {\n [\"size\"] = \"tiny\",\n}\ntable#1 {\n [\"size\"] = \"tiny\",\n}\n"},"cachereport":{"origin":"mw-web.codfw.main-6df7948d6c-bfmlb","timestamp":"20241127173606","ttl":2592000,"transientcontent":false}}});});</script> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"Article","name":"Dividend tax","url":"https:\/\/en.wikipedia.org\/wiki\/Dividend_tax","sameAs":"http:\/\/www.wikidata.org\/entity\/Q1923644","mainEntity":"http:\/\/www.wikidata.org\/entity\/Q1923644","author":{"@type":"Organization","name":"Contributors to Wikimedia projects"},"publisher":{"@type":"Organization","name":"Wikimedia Foundation, Inc.","logo":{"@type":"ImageObject","url":"https:\/\/www.wikimedia.org\/static\/images\/wmf-hor-googpub.png"}},"datePublished":"2003-01-07T19:40:19Z","dateModified":"2024-10-28T15:52:16Z","headline":"tax levied on stock earnings"}</script> </body> </html>