Taxation (Multinational - Global and Domestic Minimum Tax) Act 2024
Interpret this Act in a manner consistent with the following: (a) the GloBE Rules; (b) the Commentary; (c) Agreed Administrative Guidance; (d) Safe Harbours and Penalty Relief: Global Anti-Base Erosion Rules (Pillar Two) published by the OECD on 20 December 2022; (e) a document, or part of a document, prescribed by the Rules for the purposes of this paragraph.
3(2)
However, for the purposes of subsection (1) , disregard a document, or part of a document, prescribed by the Rules for the purposes of this subsection, to the extent prescribed by the Rules.
3(3)
Subsection (1) does not affect the application of section 15AB of the Acts Interpretation Act 1901 for the purposes of interpreting this Act.
3(4)
In this Act:
Agreed Administrative Guidance
means:
(a) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) published by the OECD on 2 February 2023; and
(b) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , July 2023, published by the OECD on 17 July 2023; and
(c) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , December 2023, published by the OECD on 18 December 2023; and
(d) Tax Challenges Arising from the Digitalisation of the Economy - Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) , June 2024, published by the OECD on 17 June 2024; and
(e) any other Agreed Administrative Guidance (within the meaning of the GloBE Rules).
Commentary
means
Tax Challenges Arising from the Digitalisation of the Economy
-
Commentary to the Global Anti-Base Erosion Model Rules (Pillar Two)
published by the OECD on 14 March 2022, as amended from time to time.
GloBE Rules
means
Tax Challenges Arising from the Digitalisation of the Economy
-
Global Anti-Base Erosion Model Rules (Pillar Two)
published by the OECD on 20 December 2021.
3(5)
A reference in this Act to this Act (other than in this subsection, section 28 and Part 4 ) includes a reference to the Rules.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
