Taxation (Multinational - Global and Domestic Minimum Tax) Rules 2024

CHAPTER 3 - COMPUTATION OF GloBE INCOME OR LOSS  

PART 3-2 - ADJUSTMENTS TO DETERMINE GloBE INCOME OR LOSS  

Division 2 - Other Article 3.2 adjustments  

SECTION 3-110  

3-110   ADJUSTMENT - REFUNDABLE TAX CREDITS AND TRANSFERABLE TAX CREDITS  
In computing a Constituent Entity ' s GloBE Income or Loss for a Fiscal Year, adjust the Constituent Entity ' s Financial Accounting Net Income or Loss for the Fiscal Year so as to:

(a)    include tax credits in that Financial Accounting Net Income or Loss, in accordance with sections 3-115 and 3-120 , to the extent they are:

(i) Qualified Refundable Tax Credits; or

(ii) Marketable Transferable Tax Credits; and

(b)    subject to paragraph (a) , exclude tax credits from that Financial Accounting Net Income or Loss to the extent they are:

(i) Non-Qualified Refundable Tax Credits; or

(ii) Non-Marketable Transferable Tax Credits; or

(iii) Other Tax Credits.