Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p74
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 185340–188025

of Additional Current Top‑up Tax mentioned in paragraph (4)(b).
Aggregate GloBE Income of all CEs for prior year is the sum of the GloBE Income of all Constituent Entities of the MNE Group that have GloBE Income for the prior Fiscal Year included in the computation of Net GloBE Income of the MNE Group in accordance with section 5‑15 for the jurisdiction for the prior Fiscal Year.
GloBE Income of the CE for prior year is the GloBE Income of the Constituent Entity for the jurisdiction for the prior Fiscal Year.
Note: Subsection (5) may apply multiple times in relation to the current Fiscal Year if there are amounts of Additional Current Top‑up Tax of the MNE Group for the jurisdiction for the current Fiscal Year, in respect of more than one prior Fiscal Year.
 (6) Subsection (7) applies if:
 (a) an MNE Group does not have Net GloBE Income for a jurisdiction for a Fiscal Year (the current Fiscal Year); and
 (b) there is an amount of Additional Current Top‑up Tax of the MNE Group for the jurisdiction for the current Fiscal Year, in respect of the current Fiscal Year, for the purposes of subsection 5‑100(1).
 (7) Increase the Top‑up Tax of a Constituent Entity of the MNE Group, located in the jurisdiction, for the current Fiscal Year by the amount computed in accordance with the formula in subsection (5), but in doing so:
 (a) treat all references in that subsection to the prior Fiscal Year as instead being references to the current Fiscal Year; and
 (b) treat the GloBE Income for the current Fiscal Year of a Constituent Entity of the MNE Group located in the jurisdiction as being increased by the amount computed under subsection 5‑100(2).

5‑45  Treatment of Stateless Constituent Entities
  For purposes of this Chapter, treat each Stateless Constituent Entity as a single Constituent Entity located in a separate jurisdiction.

Part 5‑3—Substance‑based Income Exclusion

5‑50  Substance‑based Income Exclusion Amount
 (1) The Substance‑based Income Exclusion Amount of an MNE Group for a jurisdiction for a Fiscal Year is the sum of the following:
 (a) the sum of the Payroll Carve‑out Amounts for each Constituent Entity of the MNE Group located in the jurisdiction, for the Fiscal Year;
 (b) the sum of the Tangible Asset Carve‑out Amounts for each Constituent Entity of the MNE Group located in the jurisdiction, for the Fiscal Year.
Note: In computing the Substance‑based Income Exclusion Amount of an MNE Group, further special rules (in addition to those mentioned in the note to the heading to Part 5‑1) apply if the MNE Group has any of the following:
(a) a Permanent Establishment: see section 5‑80;
(b) a Flow‑through Entity: see section 5‑85;
(c)