Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
Permanent Establishment means: (a) a place of business (including a deemed place of business) that is situated in a jurisdiction and treated as a permanent establishment in accordance with an applicable Tax Treaty in force, if the jurisdiction taxes the income attributable to it in accordance with a provision similar to Article 7 of the OECD Model Tax Convention; or (b) if there is no applicable Tax Treaty in force - a place of business (including a deemed place of business) in respect of which a jurisdiction taxes the income attributable to that place of business under its law on a net basis similar to the manner in which it taxes its own tax residents; or (c) if a jurisdiction has no corporate income tax system - a place of business (including a deemed place of business) that is situated in that jurisdiction and that would be treated as a permanent establishment in accordance with the OECD Model Tax Convention, if the jurisdiction would have had the right to tax the income attributable to it in accordance with Article 7 of that Convention; or (d) if paragraphs (a) to (c) do not apply - a place of business (including a deemed place of business) through which operations are conducted outside the jurisdiction where the Entity that would be the Main Entity if the place of business were a Permanent Establishment is located, if that jurisdiction exempts the income attributable to the operations conducted through the place of business.
19(2)
Main Entity , in respect of a Permanent Establishment, is the Entity that includes the Financial Accounting Net Income or Loss of the Permanent Establishment in its financial statements.
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