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An indication from a taxing authority that a certain provision does not apply to a particular transaction. The procedure is only available when specified by statute, as, for example, on the reorganization of a company's purchase of its own shares. Exceptionally, the Revenue grants a clearance under the extra-statutory concessional treatment whereby a dividend paid on the liquidation of a company is subject to capital gains tax and not to income tax.

Subjects: Financial Institutions and Services — Accounting.

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