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

PART 1 - PRELIMINARY  

SECTION 3   INTERPRETING THIS ACT  

3(1)    
Interpret this Act in a manner consistent with the following:

(a)    the GloBE Rules;

(b)    the Commentary;

(c)    Agreed Administrative Guidance;

(d)    Safe Harbours and Penalty Relief: Global Anti-Base Erosion Rules (Pillar Two) published by the OECD on 20 December 2022;

(e)    a document, or part of a document, prescribed by the Rules for the purposes of this paragraph.

3(2)    
However, for the purposes of subsection (1) , disregard a document, or part of a document, prescribed by the Rules for the purposes of this subsection, to the extent prescribed by the Rules.

3(3)    
Subsection (1) does not affect the application of section 15AB of the Acts Interpretation Act 1901 for the purposes of interpreting this Act.

3(4)    
In this Act:

Agreed Administrative Guidance
means:

(a) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) published by the OECD on 2 February 2023; and

(b) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , July 2023, published by the OECD on 17 July 2023; and

(c) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , December 2023, published by the OECD on 18 December 2023; and

(d) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , June 2024, published by the OECD on 17 June 2024; and

(e) any other Agreed Administrative Guidance (within the meaning of the GloBE Rules).

Commentary
means Tax Challenges Arising from the Digitalisation of the Economy - Commentary to the Global Anti-Base Erosion Model Rules (Pillar Two) published by the OECD on 14 March 2022, as amended from time to time.

GloBE Rules
means Tax Challenges Arising from the Digitalisation of the Economy - Global Anti-Base Erosion Model Rules (Pillar Two) published by the OECD on 20 December 2021.

3(5)    
A reference in this Act to this Act (other than in this subsection, section 28 and Part 4 ) includes a reference to the Rules.