Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p84
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 210462–213159

Revenue of an MNE Group for a jurisdiction for a Fiscal Year is the sum of the revenue for the Fiscal Year of all Constituent Entities of the MNE Group located in the jurisdiction, taking into account the adjustments computed in accordance with Chapter 3; and
 (b) the GloBE Income or Loss of an MNE Group for a jurisdiction for a Fiscal Year is the amount computed for the MNE Group for the jurisdiction for the Fiscal Year in accordance with the formula in subsection 5‑15(2) (Net GloBE Income or Net GloBE Loss); and
 (c) in making computations under paragraphs (a) and (b), disregard the revenue and GloBE Income or Loss of a Constituent Entity that is:
 (i) a Stateless Constituent Entity; or
 (ii) an Investment Entity or Insurance Investment Entity.
 (4) However, for the purposes of subsections (1), (2) and (3), if a Fiscal Year of a Constituent Entity of the MNE Group is a period less than 12 months, treat each of the following amounts:
 (a) the revenue for the Fiscal Year of the Constituent Entity;
 (b) the GloBE Income or GloBE Loss for the Fiscal Year of the Constituent Entity;
as being that amount multiplied by 12, then divided by the period of the Fiscal Year (expressed in months).

5‑115  Recalculations under an ETR Adjustment Provision
 (1) 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.
 (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.
 (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.

Part 5‑6—Minority‑Owned Constituent Entities

5‑120  Minority‑Owned Constituent Entities that comprise a Minority‑Owned Subgroup
 (1) This section applies if 2 or more Constituent Entities of an MNE Group (the actual group) are Minority‑Owned Constituent Entities (each of which is a MOCE) that comprise a