GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Global Minimum Tax Act — G-3.3 51
Domestic minimum top-up tax 51 (1) A particular person must pay a tax in respect of a constituent entity of an MNE group for a fiscal year in an amount equal to the domestic top-up amount of the constituent entity for the fiscal year, if (a) the constituent entity is located in Canada for the fiscal year; (b) the MNE group is a qualifying MNE group for the fiscal year; and (c) the particular person (i) is the constituent entity, or (ii) if the constituent entity is not a person, would, under the relevant assumptions, include in its income for the purposes of Part I of the Income Tax Act income of the constituent entity for the fiscal year. Relevant assumptions (2) For the purposes of subparagraph (1)(c)(ii), the relevant assumptions are that (a) the constituent entity referred to in that subparagraph has income for the fiscal year that would be included in computing its income for the purposes of Part I of the Income Tax Act if it were a person resident in Canada; and (b) the person referred to in paragraph (1)(c) is resident in Canada for the purposes of the Income Tax Act .
Global Minimum Tax Act — G-3.3 52
Definition of domestic top-up amount 52 (1) Subject to subsection 53 (3), the domestic top-up amount , of a constituent entity of an MNE group that is located in Canada for a fiscal year, means the amount that would be the top-up amount of the constituent entity for the fiscal year determined under subsection 30 (1), 34 (2), 35 (1) or 36 (2) (as adjusted under any other applicable provision of Part 2), as the case may be, if that amount (and any amounts or results relevant to the determination of that amount) were required to be determined and (a) the adjusted covered taxes of the constituent entities of the MNE group that are located in Canada were determined without reference to any covered taxes that would otherwise be allocable to those constituent entities under any of subsections 24 (1) and (4) to (6) (except, in the case of subsection 24 (6), any amount of those covered taxes imposed under the Income Tax Act ); (b) the total amount of tax payable for any fiscal year in respect of the constituent entities of the MNE group that are located in Canada, under a qualified domestic minimum top-up tax, were deemed to be nil; (c) if the fiscal year is, or is subsequent to, the QDMTT transition year of the MNE group in respect of Canada but precedes the GloBE transition year of the MNE group in respect of Canada, all references in section 26 and subsections 48 (1) and (2) to “GloBE transition year” were read as references to “QDMTT transition year”; (d) if the fiscal year is, or is subsequent to, the GloBE transition year of the MNE group in respect of Canada and the QDMTT transition year of the MNE group in respect of Canada preceded the GloBE transition year, (i) the following amounts in respect of the period before the start of the GloBE transition year (such period referred to in this paragraph as the “refresh period”) were deemed to be nil: (A) for the purposes of subsection 25 (6), all or any portion of a deferred tax liability (other than a recapture exception accrual) in respect of which (I) a positive amount was included in determining the total deferred tax adjustment amount of the constituent entity for a fiscal year that is included in the refresh period, and (II) subsection 25 (6) did not apply in a fiscal year that is included in the refresh period, and (B) any portion, of a GloBE loss deferred tax asset that arises under paragraph 26 (b) in a fiscal year that is included in the refresh period, that does not reverse during the refresh period, and (ii) all references in subsection 29 (4) to “a fiscal year that precedes the particular fiscal year” were read as references to “a fiscal year that is, or is subsequent to, the GloBE transition year and precedes the particular fiscal year”; and (e) any election made or revoked under section 44 or an equivalent provision of the laws of another jurisdiction were not taken into account. Application — joint ventures (2) For the purposes of this section and section 51 , any reference to a constituent entity of an MNE group includes an entity that is a joint venture entity in respect of the MNE group.
Global Minimum Tax Act — G-3.3 (a)
initial phase of international activity year , of an MNE group, means a fiscal year (a) throughout which there are constituent entities of the MNE group that are located in no more than six different jurisdictions; and (b) for which the total of all amounts, each of which is the net book value, for the fiscal year, of a tangible asset held by a constituent entity of the MNE group that is located in a jurisdiction other than the reference jurisdiction, does not exceed €50 million. ( année de la phase de démarrage des activités internationales )
Global Minimum Tax Act — G-3.3
net book value , for a fiscal year, of a tangible asset, means the average of the beginning and end values of the tangible asset for the fiscal year after taking into account accumulated depreciation, depletion and impairment, as recorded in the financial statements. ( valeur nette comptable )
Global Minimum Tax Act — G-3.3 (a)
reference jurisdiction , of an MNE Group, means the jurisdiction (a) in which a constituent entity of the MNE group is located in the first fiscal year that any constituent entity of, or joint venture entity in respect of, the MNE group is subject to a qualified UTPR or this Part; and (b) for which the sum of the net book values, for that fiscal year, of tangible assets held by the one or more constituent entities that are located in the jurisdiction is greater than the sum of the net book values, for that fiscal year, of tangible assets held by constituent entities of the MNE group that are located in any other single jurisdiction. ( juridiction de référence )
Global Minimum Tax Act — G-3.3 54
General anti-avoidance rule 54 (1) Section 245 of the Income Tax Act applies for the purposes of this Act with any modifications that the circumstances require. (2) For purposes of subsection (1), the following rules also apply: (a) a constituent entity of an MNE group located in Canada may file in prescribed manner with the Minister, on behalf of the MNE group, an information return in prescribed form and containing prescribed information in respect of a transaction (which, for the purposes of this section, includes an arrangement or event) or series of transactions (within the meaning of subsection 248(10) of the Income Tax Act ) as if subsection 237.3(12.1) of the Income Tax Act applied for the purposes of this Act; and (b) if a constituent entity files an information return in accordance with paragraph (a), any penalty otherwise applicable because of subsection 245(5.1) of the Income Tax Act does not apply in respect of the transaction or series. 2024, c. 17, s. 81 “54” 2024, c. 17, s. 111
Global Minimum Tax Act — G-3.3 55
imate parent entity or designated filing entity of the MNE group for the fiscal year; (b) the constituent entity is located in a jurisdiction (referred to in this definition as the “filing jurisdiction”) other than Canada in the fiscal year; (c) the constituent entity is obligated to file a GIR, in respect of the MNE group for the fiscal year, with the tax authority of the filing jurisdiction; and (d) the filing jurisdiction has a qualifying competent authority agreement that is in effect, and to which Canada is a party, on or before the GIR exchange date for the fiscal year. ( entité déclarante étrangère admissible ) record means any material on which representations, in any form, of information or concepts are recorded or marked and that is capable of being read or understood by an individual or a computer system or other device. ( registre ) Person resident in Canada (2) For the purposes of this Part, a person is deemed to be resident in Canada at any time (a) in the case of a corporation, if the corporation is (i) incorporated in Canada and not continued elsewhere, or (ii) continued in Canada; (b) in the case of a partnership, unincorporated society, club, association or organization, or a branch thereof, if the member or participant, or a majority of the members or participants, having management and control of the person is or are resident in Canada at that time; (c) in the case of a labour union, if it is carrying on activities as such in Canada and has a local union or branch in Canada at that time; or (d) in the case of an individual, if the individual is deemed under any of paragraphs 250(1)(a) to (f) of the Income Tax Act to be resident in Canada at that time. Arm’s length (3) For the purposes of this Part, (a) related persons are deemed not to deal with each other at arm’s length; and (b) it is a question of fact whether persons not related to each other are, at any time, dealing with each other at arm’s length. Related persons (4) For the purposes of this Part, persons are related to each other if they are related persons within the meaning of subsection 6(2) of the Excise Act, 2001 . Administration or enforcement (5) For greater certainty, a reference in this Part to the administration or enforcement of this Act includes the collection of any amount payable under this Act. Partnerships (6) For the purposes of this Part, anything done by a person as a member of a partnership is deemed to have been done by the partnership in the course of the partnership’s activities and not to have been done by the person.
Global Minimum Tax Act — G-3.3
Agency means the Canada Revenue Agency continued by subsection 4(1) of the Canada Revenue Agency Act . ( Agence )
Global Minimum Tax Act — G-3.3
assessment means an assessment or a reassessment under this Act. ( cotisation )
Global Minimum Tax Act — G-3.3
bank means a bank or an authorized foreign bank , as those terms are defined in section 2 of the Bank Act , that is not subject to the restrictions and requirements referred to in subsection 524(2) of that Act. ( banque )
Global Minimum Tax Act — G-3.3
bankrupt has the same meaning as in section 2 of the Bankruptcy and Insolvency Act . ( failli )
Global Minimum Tax Act — G-3.3
business number means any number (other than a Social Insurance Number) used by the Minister to identify a person for the purposes of this Act. ( numéro d’entreprise )
Global Minimum Tax Act — G-3.3
Canadian filing entity means an entity appointed under subsection 61 (3). ( entité déclarante Canadienne )
Global Minimum Tax Act — G-3.3
Commissioner means, except in sections 58 , 120 and 137 , the Commissioner of Revenue appointed under section 25 of the Canada Revenue Agency Act . ( commissaire )
Global Minimum Tax Act — G-3.3 (a)
designated filing entity , in respect of an MNE group for a fiscal year, means a constituent entity of the MNE group that has been appointed by the MNE group in substitution for the ultimate parent entity to file a GIR on behalf of the MNE group for the fiscal year, if the entity (a) has been given everything it may reasonably require to comply with the filing obligations under this Part; and (b) is located in a jurisdiction in the fiscal year that has a qualified IIR or a qualified UTPR in effect for the fiscal year. ( entité déclarante désignée )
Global Minimum Tax Act — G-3.3
designated local entity means an entity appointed under paragraph 60 (3)(a). ( entité locale désignée )
Global Minimum Tax Act — G-3.3
designated notification entity means an entity appointed under paragraph 60 (5)(a). ( entité de notification déterminée )
Global Minimum Tax Act — G-3.3 (a)
GIR due date , in respect of a qualifying MNE group for a fiscal year, means the later of (a) June 30, 2026; and (b) the day that is (i) 18 months after the last day of the fiscal year, if the fiscal year is the earlier of (A) the first fiscal year for which a constituent entity of, or joint venture entity in respect of, the MNE group that is located in Canada is subject to Part 3, and (B) the first fiscal year that a constituent entity of, or joint venture entity in respect of, the MNE group is subject to a qualified IIR or qualified UTPR; and (ii) 15 months after the last day of the fiscal year, in any other case. ( date d’échéance DRG )
Global Minimum Tax Act — G-3.3
GIR exchange date , in respect of a qualifying MNE group for a fiscal year, means the date that exchanges of GIR information are due to occur under the applicable (or relevant) qualifying competent authority agreement. ( date d’échange DRG )
Global Minimum Tax Act — G-3.3
judge , in respect of any matter, means a judge of a superior court having jurisdiction in the province in which the matter arises or a judge of the Federal Court. ( juge )
Global Minimum Tax Act — G-3.3
official means a person who is employed in the service of, who occupies a position of responsibility in the service of, or who is engaged by or on behalf of, His Majesty in right of Canada or a province, or a person who was formerly so employed, who formerly occupied such a position or who formerly was so engaged. ( fonctionnaire )
Global Minimum Tax Act — G-3.3 (a)
qualifying competent authority agreement means an agreement that (a) is between authorized representatives of the jurisdictions that are parties to a listed international agreement (as defined in subsection 248(1) of the Income Tax Act ); and (b) requires the automatic exchange of GIR information between the jurisdictions of the parties. ( accord admissible entre autorités compétentes )
Global Minimum Tax Act — G-3.3 (a)
qualifying foreign filing entity , in respect of a qualifying MNE group for a fiscal year, means a constituent entity of the MNE group, if (a) the constituent entity is the ultimate parent entity or designated filing entity of the MNE group for the fiscal year; (b) the constituent entity is located in a jurisdiction (referred to in this definition as the “filing jurisdiction”) other than Canada in the fiscal year; (c) the constituent entity is obligated to file a GIR, in respect of the MNE group for the fiscal year, with the tax authority of the filing jurisdiction; and (d) the filing jurisdiction has a qualifying competent authority agreement that is in effect, and to which Canada is a party, on or before the GIR exchange date for the fiscal year. ( entité déclarante étrangère admissible )
Global Minimum Tax Act — G-3.3
record means any material on which representations, in any form, of information or concepts are recorded or marked and that is capable of being read or understood by an individual or a computer system or other device. ( registre )
Global Minimum Tax Act — G-3.3 56
Minister’s duty 56 The Minister must administer and enforce this Act and the Commissioner may exercise the powers and perform the duties of the Minister under this Act.
Global Minimum Tax Act — G-3.3 57
Staff 57 (1) The persons that are necessary to administer and enforce this Act are to be appointed, employed or engaged in the manner authorized by law. Delegation of powers (2) The Minister may authorize any person who is employed or engaged by the Agency, or occupies a position of responsibility in the Agency, to exercise powers or perform duties of the Minister under this Act, including any judicial or quasi-judicial power or duty.
Global Minimum Tax Act — G-3.3 58
Administration of oaths 58 Any person, if so designated by the Minister, may administer oaths and take and receive affidavits, declarations and affirmations for the purposes of, or incidental to, the administration or enforcement of this Act, and every person so designated has for those purposes all the powers of a commissioner for administering oaths or taking affidavits.
Global Minimum Tax Act — G-3.3 59
Waiving filing of documents 59 If any provision of this Act or a regulation requires a person to file a form or other document (other than a return or a form, or other document, with respect to an election) or to provide information, prescribed by the Minister, the Minister may waive the requirement, but at the Minister’s request the person must file the document or provide the information by the date set out in the request.
Global Minimum Tax Act — G-3.3 60
fiscal year under subsection (4), (a) one of those constituent entities that are located in Canada may be appointed as a designated notification entity, in the notification provided to the Minister on or before the GIR due date for the fiscal year, to notify the Minister, in respect of the MNE group for the year, on behalf of all of those constituent entities; and (b) where a designated notification entity is appointed to provide the notification to the Minister for the fiscal year (i) the designated notification entity must provide the notification to the Minister, in respect of the MNE group for the year, on or before the GIR due date for the fiscal year, and (ii) if the designated notification entity provides the notification to the Minister at a time that is on or before the GIR due date for the fiscal year, the notification is deemed to have been provided at that time by each of the other constituent entities of the MNE group that are located in Canada.
Global Minimum Tax Act — G-3.3 61
Part 2 return 61 (1) A person that is liable to pay tax under Part 2 for a fiscal year must file in the prescribed form and manner with the Minister, on or before the GIR due date, a return for the fiscal year containing an estimate of the tax payable. Part 3 return (2) A person that is liable to pay tax under Part 3 for a fiscal year must file in the prescribed form and manner with the Minister, on or before the GIR due date, a return for the fiscal year containing an estimate of the tax payable. Canadian filing entity (3) If more than one person, in respect of an MNE group, is required to file a return under subsection (1) or (2) for a fiscal year, one of those persons that is resident in Canada may be appointed as the Canadian filing entity in the return, with the consent of the person, to file the return on behalf of all the persons that would, in the absence of subsection (4), be required to file the return for the fiscal year. Consequences — Canadian filing entity (4) If a Canadian filing entity is appointed, in respect of an MNE group, under subsection (3) to file a return with the Minister for a fiscal year, (a) the Canadian filing entity must file the return — on behalf of all persons that are required to file returns under subsection (1) or (2), as the case may be, in respect of the MNE group for the fiscal year — on or before the GIR due date for the fiscal year; and (b) if the Canadian filing entity does so, the return is deemed to have been filed at that time by each of those persons. Consequences — appointment (5) If a designated filing entity that is located in Canada, a designated local entity or a Canadian filing entity (each referred to in this subsection as an “appointed entity”) is appointed to act on behalf of one or more persons in respect of an MNE group for a fiscal year, (a) the appointed entity must act on behalf of those persons for the purposes of this Part in respect of the fiscal year; (b) any action taken by the appointed entity on behalf of those persons for the purposes of this Part in respect of the fiscal year is deemed to have been performed by those persons; and (c) the Minister must direct to the appointed entity and those persons any communication for the purposes of this Part as it applies to those persons in respect of the fiscal year.
Global Minimum Tax Act — G-3.3 62
Demand for return 62 A person must, on demand sent by the Minister, file, within any reasonable time that may be specified in the demand, a return under this Act for any fiscal year that is designated in the demand.
Global Minimum Tax Act — G-3.3 63
Trustees, etc. 63 Every trustee in bankruptcy, assignee, liquidator, curator, receiver, trustee or committee and every agent or other person administering, managing, winding up, controlling or otherwise dealing with the property, business, estate or income of a person that has not filed a return for a fiscal year as required by this Division must file the return.
Global Minimum Tax Act — G-3.3 64
Payments 64 The tax payable under this Act by a person in respect of a fiscal year must be paid on or before the GIR due date for the fiscal year.
Global Minimum Tax Act — G-3.3 65
Manner and form of payments 65 Every person that is required under this Act to pay tax or any other amount must make the payment to the account of the Receiver General for Canada in the manner and form prescribed by the Minister.
Global Minimum Tax Act — G-3.3 66
at any time during a fiscal year are jointly and severally, or solidarily, liable for the payment of all amounts that are required to be paid by the trust under this Act for the fiscal year. Persons liable in respect of other entities (8) All persons that are, in respect of a constituent entity, liable to pay an amount under this Act for a fiscal year are jointly and severally, or solidarily, liable with the constituent entity to pay all amounts that are required to be paid by any of those persons or the constituent entity under this Act for the fiscal year. Discharge of liability (9) If a particular person and another person are jointly and severally, or solidarily, liable in respect of part or all of the liability of the other person under this Act, the following rules apply: (a) a payment by the particular person on account of the particular person’s liability discharges, to the extent of the payment, the joint liability; and (b) a payment by the other person on account of the other person’s liability discharges the particular person’s liability only to the extent that the payment operates to reduce the particular person’s liability to an amount less than the amount in respect of which the particular person is jointly and severally, or solidarily, liable.
Global Minimum Tax Act — G-3.3 67
 transaction or series of transactions if (i) the transferor and the transferee do not deal at arm’s length at any time during the period beginning immediately before the transaction or series of transactions and ending immediately after the transaction or series of transactions, and (ii) it is reasonable to conclude that one of the purposes of undertaking or arranging the transaction or series of transactions is to avoid joint and several, or solidary, liability of the transferee and the transferor under this section for an amount payable under this Act; (b) an amount that the transferor is liable to pay under this Act (including, for greater certainty, an amount that the transferor is liable to pay under this section, regardless of whether the Minister has made an assessment under subsection (5) in respect of that amount) is deemed to have become payable in the fiscal year in which the property is transferred, if it is reasonable to conclude that one of the purposes of the transfer of the property is to avoid the payment of a future amount payable under this Act by the transferor or transferee; and (c) the amount determined for A in paragraph (2)(a) is deemed to be the greater of (i) the amount otherwise determined for A in paragraph (2)(a) without reference to this paragraph, and (ii) the amount determined by the formula A − B where A is the fair market value of the property at the time of the transfer, and B is (A) the lowest fair market value of the consideration (that is held by the transferor) given for the property at any time during the period beginning immediately before the transaction or series of transactions and ending immediately after the transaction or series of transactions, or (B) if the consideration is in a form that is cancelled or extinguished during the period referred to in clause (A), (I) the amount that is the lower of the amount determined under clause (A) and the fair market value during that period of any property, other than property that is cancelled or extinguished during the period, that is substituted for the consideration referred to in clause (A), or (II) if no property is substituted for the consideration referred to in clause (A), other than property that is cancelled or extinguished during the period, nil. 2024, c. 17, s. 81 “67” 2024, c. 17, s. 111 2026, c. 3, s. 157