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 1 - Article 3.2.1 adjustments  

SECTION 3-65  

3-65   ADJUSTMENT - POLICY DISALLOWED EXPENSES  
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 exclude the following:

(a)    expenses accrued by the Constituent Entity for illegal payments, including bribes and kickbacks;

(b)    expenses accrued by the Constituent Entity for a fine or penalty that equals or exceeds 50,000 Euros (or an equivalent in the Constituent Entity ' s accounting functional currency for the Fiscal Year);

(c)    expenses accrued by the Constituent Entity for fines and penalties that are levied in respect of the same activity on a periodic basis (such as daily fines), the total of which equals or exceeds 50,000 Euros (or an equivalent in the Constituent Entity ' s accounting functional currency for the Fiscal Year).