Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
PART 3
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CORE GROUP AND ENTITY CONCEPTS
Division 3
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Joint Ventures and Multi-Parented MNE Groups
SECTION 27
MEANINGS OF JV GROUP AND JV SUBSIDIARY
27(1)
JV Group means a Joint Venture of an MNE Group and its JV Subsidiaries.
27(2)
JV Subsidiary , of a Joint Venture of an MNE Group, means an Entity whose assets, liabilities, income, expenses and cash flows are consolidated by the Joint Venture under an Acceptable Financial Accounting Standard (or would have been consolidated had it been required to consolidate such items in accordance with an Acceptable Financial Accounting Standard).
27(3)
If the Main Entity in respect of a Permanent Establishment is a Joint Venture of an MNE Group or a JV Subsidiary of a Joint Venture of an MNE Group, the Permanent Establishment is a JV Subsidiary of the Joint Venture.
JV Group means a Joint Venture of an MNE Group and its JV Subsidiaries.
27(2)
JV Subsidiary , of a Joint Venture of an MNE Group, means an Entity whose assets, liabilities, income, expenses and cash flows are consolidated by the Joint Venture under an Acceptable Financial Accounting Standard (or would have been consolidated had it been required to consolidate such items in accordance with an Acceptable Financial Accounting Standard).
27(3)
If the Main Entity in respect of a Permanent Establishment is a Joint Venture of an MNE Group or a JV Subsidiary of a Joint Venture of an MNE Group, the Permanent Establishment is a JV Subsidiary of the Joint Venture.
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