On 6 December 2011, by means of Decision C-914, the Constitutional Court decided on the constitutionality of an amendment to the foreign tax credit for dividends(i.e. amendment to article 254 of the Tax Code introduced by Law 1430 of 2010).
Under the amended provision, taxpayers must have a minimum direct or indirect participation of 15% in the equity of the foreign company paying the dividends to be entitled to the foreign tax credit.
The Court ruled t…