Global Minimum Tax Act — G-3.3 2
olds, directly or indirectly, an ownership interest, on income (referred to in this definition as the “attributed controlled foreign company income”) of the controlled foreign company that is included under the controlled foreign company tax regime of the particular jurisdiction for the purposes of determining the constituent entity’s taxable income in the particular jurisdiction; (b) is not allowed to be used in the particular taxation year in which it arises solely because the income tax laws of the particular jurisdiction require, in determining the constituent entity’s taxable income, that an amount that would be a tax loss of the constituent entity in the absence of the attributed controlled foreign company income in the particular taxation year be offset against the attributed controlled foreign company income in priority to the tax credit, or portion of the tax credit, being used to reduce or eliminate any covered taxes for which the constituent entity would otherwise be liable in respect of the attributed controlled foreign company income under the income tax laws of the particular jurisdiction; and (c) is, under the income tax laws of the particular jurisdiction, allowed to be used by the constituent entity, in a taxation year following the particular taxation year, to reduce or eliminate any covered taxes for which the constituent entity would otherwise be liable under the income tax laws of the particular jurisdiction in respect of income that is included in computing the constituent entity’s GloBE income or loss. ( crédit d’impôt pour report de pertes de remplacement ) tax means a compulsory unrequited payment to general government. ( impôt ) tax transparent entity , in relation to an owner, means a flow-through entity to the extent that the flow-through entity is fiscally transparent under the laws of the jurisdiction in which the owner is located. ( entité fiscalement transparente ) tax transparent structure means a chain of entities through which a particular entity holds an ownership interest, if the entities are (a) flow-through entities; and (b) fiscally transparent in relation to the particular entity. ( structure fiscalement transparente ) tax treaty means an agreement for the avoidance of double taxation with respect to taxes on income and on capital. ( convention fiscale ) top-up amount has the same meaning as in subsection 30 (1). ( montant complémentaire ) top-up percentage has the same meaning as in subsection 30 (3). ( pourcentage complémentaire ) total deferred tax adjustment amount has the same meaning as in subsection 25 (1). ( montant total de l’ajustement pour impôts différés ) transitional special allocation year , of an MNE group, means any fiscal year beginning on or before December 31, 2025 and ending on or before June 30, 2027. ( année de répartition spéciale transitoire ) ultimate parent entity has the same meaning as in subsection 12 (1). ( entité mère ultime ) unclaimed accrual , of a constituent entity of an MNE group for a fiscal year, means an increase in a deferred tax liability recorded in the financial accounts of the constituent entity for the fiscal year if (a) the increase is not expected to reverse on or before the last day of the fifth fiscal year following the fiscal year; and (b) the filing constituent entity of the MNE group elects to not include the increase in determining the constituent entity’s total deferred tax adjustment amount for the fiscal year. ( accumulation non réclamée ) unrelated purchaser , in respect of the transfer of a tax credit by a person, means another person that acquires the tax credit unless (a) based on all the relevant facts and circumstances, one person has control of the other or both persons are under the control of the same person or persons; (b) one of the persons owns directly or indirectly, (i) if the other person is a corporation, shares of the capital stock of the corporation that (A) give their holder at least 50% of the votes of the sha