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

CHAPTER 8 - ADMINISTRATION  

PART 8-2 - SAFE HARBOURS  

Division 3 - Simplified Calculations Safe Harbour  

Subdivision D - Miscellaneous  

SECTION 8-195   MEANING OF RELEVANT CbC REGULATIONS AND COUNTRY-BY-COUNTRY REPORTING REGULATIONS  

8-195(1)    
Relevant CbC Regulations of an MNE Group means:

(a)    if the jurisdiction in which the Ultimate Parent Entity of the MNE Group is located (the UPE jurisdiction ) does not have Country-by-Country Reporting regulations and the MNE Group is not required to file a Country-by-Country Report in any jurisdiction - the following documents:

(i) the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, as approved by the Council of the OECD and last amended on 7 January 2022;

(ii) Guidance on the Implementation of Country-by-Country Reporting: BEPS Action 13 (Updated May 2024) of the OECD; or

(b)    if paragraph (a) does not apply and the MNE Group is does not file a Country-by-Country Report in the UPE Jurisdiction - the Country-by-Country Reporting regulations of the surrogate parent entity jurisdiction (determined in accordance with the documents mentioned in subparagraphs (a)(i) and (ii) ); or

(c)    otherwise - the Country-by-Country Reporting regulations of the UPE jurisdiction.

8-195(2)    
Country-by-Country Reporting regulations means any of the following:

(a)    Subdivision 815-E of the Income Tax Assessment Act 1997 (Reporting obligations for country by country reporting entities);

(b)    a law of a non-Australian jurisdiction corresponding to that Subdivision.