Part 4 - Avoidance of Double Taxation
Chapter 2 - Tax Avoidance between Persons or By Entering into Transactions
Section 3 - Control of a Company
Article 132
[GTL Notes: Definition - Control of a Company]
For the purpose of this Law, a person shall have control over a company if he has the right - directly or indirectly - to have a hold over the company's business and commercial matters, and in the following cases in particular:
If the person acquires the greater part of the capital of the company, its issued capital, or the voting rights in the company;
If the person's ownership of the share in the issued capital of the company gives him the right to receive the greater share of the distributed amount in the case of distribution of the total income of the company among the partners;
If the person's ownership of these rights entitles him to receive the greater portion of the company's assets that are distributable to the participants in case of dissolution or termination of the company.
For the purpose of this Section, a person who is entitled at a future date to acquire any right, interest, or power of any kind, shall be treated as one entitled to that right, interest, or power.