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(c) any dividends or distributions which by virtue of section 129 should be disregarded in computing income for corporation tax purposes are nevertheless to be taken into account in that computation in the like manner as if they were dividends or distributions of a company resident outside the State.

(ii) after the 5th day of April, 1976, a distribution within the meaning of Chapter 2 of Part 6 which if the company had been engaged in such a trade would have been required by section 752(3) to be taken into account to any extent mentioned in that section, an amount equal to so much of the distribution as would be so required to be taken into account increased by so much of the tax credit in respect of that distribution as bears to the amount of such tax credit the same proportion as the part of the distribution which would be so required to be taken into account bears to the distribution, and

(ii) ending on the date the distribution is made, then, subject to subsection (5), section 129 shall not apply to such amount of the distribution as is paid out of profits arising before the paying company became resident in the State and that amount shall be treated as income chargeable to tax under Case IV of Schedule D.

(i) the distributable profits of the paying company for a specified period shall, subject to subparagraph (ii), be taken to be the aggregate of the profits of the periods of account (in this subsection referred to as “corresponding periods”) which fall wholly or partly within the specified period, as reduced by the aggregate of so much of the amounts of any distributions made in the specified period as were amounts to which section 129 applied,

(4) Where, by virtue of subsection (2), section 129 does not apply to the whole or part of a distribution (such whole or part, as the case may be, in this section referred to as the “taxable distribution”) received by a company (in this subsection referred to as the “first-mentioned company”) from another company resident in the State then the first-mentioned company shall be entitled to reduce the corporation tax attributable to the taxable distribution by the amount of the credit for foreign tax that would have been applied, under the provisions of Schedule 24, in reducing the corporation tax chargeable in respect of a dividend of an amount equal to the taxable distribution received by the first-mentioned company from the other company on the day before the day (or the last such day where there was more than one) the other company became resident in the State.

(5) The provisions of the Tax Acts relating to the computation of profits or gains shall not be affected by the deduction of dividend withholding tax in relation to relevant distributions in accordance with this section and, accordingly, the amount of such relevant distributions shall, subject to section 129, be taken into account in computing for tax purposes the profits or gains of persons beneficially entitled to such distributions.

(iii) sections 129 and 152 shall not apply to the distribution.

(a) any interest or dividends on investments which, having regard to the nature of the company’s trade, would be taken into account as trading receipts in computing trading income but for the fact that they have been subjected to tax otherwise than as trading receipts, or but for the fact that by virtue of section 129 they are not to be taken into account in computing income for corporation tax, and

(5) Where, but for subsection (2) and section 129, a property income dividend would be income of a company which is income chargeable to tax under Case I of 30 Schedule D, it shall be so chargeable notwithstanding those provisions.

(1) Sections 129 and 153(1) Section 129 and subsections (4) and (5) of section 153 shall not apply as respects a distribution received by an assurance company in connection with that part of its life business the profits of which are charged to corporation tax otherwise than under Case I or IV of Schedule D , and the income represented by the distribution shall be equal to the aggregate of the amount of the distribution and the amount of the tax credit in respect of the distribution .

(1) For the purposes of sections 707 and 713 section 713, the exclusion by section 129 from the charge to corporation tax of franked investment income shall not prevent such income of a company resident in the State attributable to the investments of the company’s life assurance fund from being taken into account as part of the profits in computing trading income in accordance with the provisions applicable to Case I of Schedule D.

(4) Subject to subsection (5), the exclusion by section 129 from the charge to corporation tax of franked investment income shall not prevent such income being taken into account as part of the profits in computing under section 715 income from pension business.

(3)(a) (i) Section 129 shall not apply as respects a distribution received by an undertaking for collective investment which is a company , and the income represented by the distribution shall be equal to the aggregate of the distribution and the amount of the tax credit in respect of the distribution.

(4) Where the specified amount is in excess of the amount of any corresponding manufactured payment paid, then, notwithstanding Part 2, section 129, section 129A or section 138, that excess amount shall be charged to tax pursuant to section 753B(2)(b).

(a) who is chargeable to income tax or corporation tax under Schedule D in respect of the profits or gains or losses arising from the relevant activities or who would be chargeable to corporation tax in respect of the profits or gains arising from the relevant activities but for section 129,

(4) Notwithstanding section 129(4) of the Finance Act 2012, subsection (1) shall apply to an assessment or an amended assessment, as the case may be, made on a person for a chargeable period, that is an accounting period of a company, that starts before 1 January 2013 or for any year of assessment preceding 2013.