Taxation (Multinational - Global and Domestic Minimum Tax) Rules 2024
For the purposes of this instrument: (a) the Average GloBE Revenue of an MNE Group for a jurisdiction for a Fiscal Year is the average of the GloBE Revenue of the MNE Group (see subsection (3) ) for the jurisdiction for the Fiscal Year and the 2 preceding Fiscal Years; and (b) the Average GloBE Income or Loss of an MNE Group for a jurisdiction for a Fiscal Year is the average of the GloBE Income or Loss of the MNE Group (see subsection (3) ) for the jurisdiction for the Fiscal Year and the 2 preceding Fiscal Years.
5-110(2)
However, if, in a preceding Fiscal Year mentioned in subsection (1) , there were no Constituent Entities of the MNE Group located in the jurisdiction with revenue or GloBE Losses, exclude that Fiscal Year from the computation of the Average GloBE Revenue and the Average GloBE Income or Loss of the MNE Group for the jurisdiction for the Fiscal Year.
5-110(3)
For the purposes of subsections (1) and (2) : (a) the GloBE Revenue of an MNE Group for a jurisdiction for a Fiscal Year is the sum of the revenue for the Fiscal Year of all Constituent Entities of the MNE Group located in the jurisdiction, taking into account the adjustments computed in accordance with Chapter 3 ; and (b) the GloBE Income or Loss of an MNE Group for a jurisdiction for a Fiscal Year is the amount computed for the MNE Group for the jurisdiction for the Fiscal Year in accordance with the formula in subsection 5-15(2) (Net GloBE Income or Net GloBE Loss); and (c) in making computations under paragraphs (a) and (b) , disregard the revenue and GloBE Income or Loss of a Constituent Entity that is:
(i) a Stateless Constituent Entity; or
(ii) an Investment Entity or Insurance Investment Entity.
5-110(4)
However, for the purposes of subsections (1) , (2) and (3) , if a Fiscal Year of a Constituent Entity of the MNE Group is a period less than 12 months, treat each of the following amounts: (a) the revenue for the Fiscal Year of the Constituent Entity; (b) the GloBE Income or GloBE Loss for the Fiscal Year of the Constituent Entity;
as being that amount multiplied by 12, then divided by the period of the Fiscal Year (expressed in months).
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