Global Minimum Tax Act — G-3.3 2
prehensive income , in respect of a constituent entity, means items of income and expense that are recognized outside of the profit or loss account in the financial statements used in determining the entity’s GloBE income or loss. ( autres éléments du résultat global ) owner means an entity that directly or indirectly holds an ownership interest in another entity. ( détenteur ) ownership interest means an interest that an entity or person holds in a particular entity (a) in the case of a direct interest, that (i) carries rights to the profits, capital or reserves of the particular entity or the particular entity’s permanent establishment, and (ii) would, in the absence of any requirement to consolidate the assets, liabilities, income, expenses and cash flows of the particular entity in the consolidated financial statements, be accounted for as equity in those statements; or (b) in the case of an indirect interest, through a chain of direct ownership interests. ( titre de participation ) partially-owned parent entity means a constituent entity of an MNE group (other than an ultimate parent entity, permanent establishment, investment entity or insurance investment entity) (a) that holds, directly or indirectly, an ownership interest in another constituent entity of the MNE group; and (b) in which more than 20% of the ownership interests, determined having regard only to the ownership interests that carry rights to profits, are held, directly or indirectly, by persons or entities that are not constituent entities of the MNE group. ( entité mère partiellement détenue ) passive income means income that is included in computing a constituent entity’s GloBE income or loss and that is (a) a dividend or dividend equivalent; (b) interest or an interest equivalent; (c) rent; (d) a royalty; (e) an annuity; or (f) a net gain from property of a type that produces income described in any of paragraphs (a) to (e). ( revenu passif ) patronage dividend means a distribution by a cooperative to its members. ( ristourne ) pension fund means (a) an entity that is established and operated in a jurisdiction exclusively or almost exclusively to administer or provide retirement benefits and ancillary or incidental benefits to individuals, if (i) the entity is regulated as such by that jurisdiction or one of its political subdivisions or local authorities, or (ii) those benefits are secured or otherwise protected by national regulations and funded by a pool of assets held through a fiduciary arrangement or trust to secure the fulfilment of the corresponding pension obligations against a case of insolvency of the entity or the MNE group of which the entity is a member; or (b) a pension services entity. ( fonds de pension ) pension services entity means an entity that is established and operated exclusively or almost exclusively (a) to invest funds for the benefit of entities described in paragraph (a) of the definition pension fund in this subsection; or (b) to carry out activities that are ancillary to the regulated activities carried out by an entity described in that paragraph that is a member of the same group. ( entité de services de fonds de pension ) permanent establishment means a place of business, including a deemed place of business, (a) that is situated in a jurisdiction and treated as a permanent establishment in accordance with an applicable tax treaty in force, provided that the jurisdiction taxes the income attributable to it in accordance with a provision similar to Article 7 of the OECD Model Tax Convention; (b) if there is no applicable tax treaty in force, in respect of which a jurisdiction taxes the income attributable to that place of business under its domestic law on a net basis similar to the manner in which it taxes its own tax residents; (c) if a jurisdiction has no corporate income tax system, that is situated in that jurisdiction and that would be treated as a permanent establishment in accordance with the OECD Model Tax Conv