32Secondly, since Directive 2011/96 pursues, in accordance with recital 3 thereof, the objective of eliminating double taxation of profits distributed by a subsidiary to its parent company at the level of the parent company, taxation of that parent company by its Member State in respect of those profits, which would have the effect of making the profits subject to taxation exceeding the ceiling of 5% laid down in Article 4(3) of that directive, would lead to a double taxation at the level of the parent company contrary to that directive.
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