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

CHAPTER 8 - ADMINISTRATION  

PART 8-2 - SAFE HARBOURS  

Division 2 - Transitional CbCR Safe Harbour  

Subdivision B - De minimis test  

SECTION 8-35   MEANING OF QUALIFIED CbC REPORT  

8-35(1)    
Qualified CbC Report in relation to a jurisdiction means a Country-by-Country Report that is prepared in relation to the jurisdiction, and filed, using Qualified Financial Statements.

8-35(2)    
Subsections (3) and (4) apply if an MNE Group is not required have a Qualified CbC Report in relation to a jurisdiction.

8-35(3)    
For the purposes of this Division, if:

(a)    the jurisdiction in which the Ultimate Parent Entity of the MNE Group is located has requirements for the filing of Country-by-Country Reports; and

(b)    on the assumption that the MNE Group filed a Country-by-Country Report in accordance with those requirements, data from the MNE Group ' s Qualified Financial Statements would have been reported as total revenue and profit or loss before tax in that Country-by-Country Report;

treat that data as being reported in the MNE Group ' s Qualified CbC Report.

8-35(4)    
For the purposes of this Division, if:

(a)    the jurisdiction in which the Ultimate Parent Entity of the MNE Group is located does not have requirements for the filing of Country-by-Country Reports; and

(b)    on the assumption that the MNE Group filed a Country-by-Country Report in accordance with the following, data from the MNE Group ' s Qualified Financial Statements would have been reported as total revenue and profit or loss before tax in that Country-by-Country Report:

(i) Transfer Pricing Documentation and Country-by-Country Reporting, Action 13 - 2015 Final Report of the OECD/G20 Base Erosion and Profit Shifting Project;

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

treat that data as being reported in the MNE Group ' s Qualified CbC Report.