Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
An MNE Group is an Applicable MNE Group for a Fiscal Year (the test year ) if: (a) for at least 2 of the 4 Fiscal Years immediately preceding the test year, the MNE Group ' s annual revenue is equal to or greater than its GloBE Threshold for the Fiscal Year; or (b) if the Rules specify conditions for the purposes of this paragraph - those conditions are met.
12(2)
For the purposes of paragraph (1)(a) , the annual revenue of an MNE Group for a Fiscal Year preceding the test year is the amount shown in the Consolidated Financial Statements for that Fiscal Year of the Ultimate Parent Entity of the MNE Group as the annual revenue of the MNE Group.
12(3)
The GloBE Threshold of an MNE Group for a Fiscal Year is: (a) if paragraph (b) does not apply - 750 million Euros; or (b) if the Fiscal Year of the MNE Group is a period other than 12 months - the amount of Euros computed as follows:
(i) first, divide the period of the Fiscal Year (expressed in months) by 12;
(ii) next, multiply the result of subparagraph (i) by 750 million.
12(4)
In computing an amount of Euros for the purposes of subsection (3) , translate amounts expressed in currencies other than Euros to Euros in accordance with Rules made for the purposes of this subsection.
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