40It should be noted in this regard that, since European Union law, as it currently stands, does not lay down any general criteria for the attribution of areas of competence between the Member States in relation to the elimination of double taxation within the European Union (Case C-513/04 Kerckhaert and Morres [2006] ECR I-10967, paragraph 22, and Case C-157/10 Banco Bilbao Vizcaya Argentaria [2011] ECR I-13023, paragraph 31 and the case‑law cited), each Member State remains free to organise its system for taxing distributed profits, provided, however, that the system in question does not entail discrimination prohibited by the FEU Treaty. An obligation on the Member State where the company receiving dividends resides to exempt foreign-sourced dividends from corporation tax would affect the competence of the Member State concerned to tax, in compliance with the principle of non-discrimination, the profits thereby distributed at the rate prescribed by its own legislation.
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