31As regards Directive 2011/96, it should be noted that that directive was adopted on the basis of Article 115 TFEU, under which the Council has power to issue directives for the approximation of such laws, regulations or administrative provisions of the Member States as directly affect the establishment or functioning of the internal market. In accordance with recitals 3 to 6 of that directive, its objective is to exempt dividends and other profit distributions paid by subsidiary companies to their parent companies from withholding taxes and to eliminate double taxation of such income at the level of the parent company, in order to facilitate the grouping together of companies at EU level (see, to that effect, in relation to Directive 90/435, judgment of 19 December 2019, Brussels Securities, C‑389/18, EU:C:2019:1132, paragraphs 35 and 36 and the case-law cited).
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