Taxation (Multinational - Global and Domestic Minimum Tax) Rules 2024
This section applies if, in a Fiscal Year (the current Fiscal Year ) the Effective Tax Rate and Jurisdictional Top-up Tax of an MNE Group for a jurisdiction for a prior Fiscal Year are required or permitted to be recalculated under an ETR Adjustment Provision.
5-115(2)
In computing, for the purposes of section 5-110 , the GloBE Revenue of the MNE Group for the jurisdiction for the prior Fiscal Year, make adjustments as necessary and appropriate to correspond to the adjustments to GloBE Income or Loss of Constituent Entities of the MNE Group for the jurisdiction for the prior Fiscal Year required by the relevant ETR Adjustment Provision.
5-115(3)
If, disregarding this subsection, the recalculation results in the condition in paragraph 5-105(1)(a) or (b) being met in relation to the MNE Group for the jurisdiction for a Fiscal Year that is before the current Fiscal Year, treat the condition as not being met.
Note:
If the recalculation results in the condition in paragraph 5-105(1)(a) or (b) no longer being met in relation to the MNE Group for the jurisdiction for a Fiscal Year, subsection 5-105(1) will cease to apply.
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