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

CHAPTER 8 - ADMINISTRATION  

PART 8-2 - SAFE HARBOURS  

Division 4 - Qualified Domestic Minimum Top-up Tax (QDMTT) Safe Harbour  

SECTION 8-200   QDMTT SAFE HARBOUR - GENERAL RULE  

8-200(1)    
An MNE Group ' s Jurisdictional Top-up Tax for a jurisdiction for a Fiscal Year is taken to be zero if:

(a)    the jurisdiction applies a Qualified Domestic Minimum Top-up Tax for the Fiscal Year; and

(b)    the jurisdiction is specified in a determination under subsection (2) ; and

(c)    an election for the MNE Group under subsection (3) applies to the jurisdiction and the Fiscal Year.

Note:

The condition in paragraph (b) will not be satisfied if the jurisdiction is a jurisdiction in which a Stateless Constituent Entity is taken to be located under section 5-45 .

8-200(2)    
The Minister may, by legislative instrument, make a determination specifying a jurisdiction if the Minister is satisfied that the jurisdiction ' s Qualified Domestic Minimum Top-up Tax has QDMTT Safe Harbour status for the Fiscal Year.

Election

8-200(3)    
A Filing Constituent Entity for an MNE Group may make an election for the MNE Group under this subsection that applies to a specified jurisdiction.

Note:

A Filing Constituent Entity for an MNE Group may not make an election under this subsection in certain circumstances: see sections 8-205 and 8-210 .

8-200(4)    
An election under subsection (3) is an Annual Election.