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

CHAPTER 8 - ADMINISTRATION  

PART 8-2 - SAFE HARBOURS  

Division 2 - Transitional CbCR Safe Harbour  

Subdivision E - Qualified Financial Statements  

SECTION 8-75   USE OF SAME KIND OF QUALIFIED FINANCIAL STATEMENTS  

8-75(1)    
Subsections (2) and (3) apply if:

(a)    a Constituent Entity of an MNE Group is a CbCR Resident of a jurisdiction; and

(b)    an amount in respect of a Fiscal Year is ascertained for the purposes of this Part in relation to the Constituent Entity; and

(c)    the amount is ascertained by reference to Qualified Financial Statements of the MNE Group to the extent that they relate to the Constituent Entity.

8-75(2)    
Ascertain any other amount that is:

(a)    in respect of the Fiscal Year; and

(b)    for the purposes of this Part; and

(c)    in relation to the Constituent Entity;

by reference to the same Qualified Financial Statements.

8-75(3)    
In ascertaining an amount in respect of the Fiscal Year for the purposes of this Part in relation to another Constituent Entity of the MNE Group that is a CbCR Resident of the jurisdiction, the following rules apply:

(a)    where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8-70(1)(a) - disregard paragraphs 8-70(1)(b) and (c) ;

(b)    where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8-70(1)(b) - disregard paragraphs 8-70(1)(a) and (c) ;

(c)    where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8-70(1)(c) - disregard paragraphs 8-70(1)(a) and (b) .

8-75(4)    
A reference in this section to Constituent Entity does not include a reference to:

(a)    a Permanent Establishment; or

(b)    an NMCE for the Fiscal Year.

8-75(5)    
A reference in this section to an amount does not include a reference to the deferred tax component of income tax expense.