47. Reduction of 108 balance

Where a company has paid dividend to any of its shareholders—

on any date during the period from the first day of the basis period for year of assessment 2008 to 31 December 2007, in the case where the basis period of a company for the year of assessment 2007 ends on a day other than 31 December 2007; or

on any date during the period from 1 January 2008 to 31 December 2013, from which tax has been deducted or deemed to have been deducted in accordance with this Part, the 108 balance or revised 108