Assume a wholly-owned subsidiary in country A (tax rate = 30%) makes 500 units of a product for $200 each and sells them to the parent company in country B (tax rate = 23%) for 360 USD each. The parent then sells them for 490 USD each in country B. The company has no other costs or sources of revenue.

Assume that the parent company repatriates all the profits from country A to B and there is a Participation Exemption allowed by Country B that provides that only 50% of the repatriated income to be subject to income tax in Country B. Now what is the total tax bill paid in Country B from both income earned in B and income repatriated to B from A?