Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p13
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 33326–35914

the Fiscal Year:
 (a) despite subsection (6), the JV Subsidiary does not have a Domestic Top‑up Tax Amount for the Fiscal Year; and
 (b) the Main Entity has a Domestic Top‑up Tax Amount for the Fiscal Year in respect of the JV Subsidiary.

2‑30  Amount of Domestic Top‑up Tax Amount

Constituent Entities generally and Permanent Establishments
 (1) For the purposes of subsection 2‑25(2) or (4), the amount of the Domestic Top‑up Tax Amount is equal to the amount of the Top‑up Tax mentioned in that subsection, computed in accordance with the principles set out in section 2‑35.

Joint Ventures and JV Subsidiaries
 (2) For the purposes of subsection 2‑25(6) or (8), the amount of the Domestic Top‑up Tax Amount is equal to the amount of the Top‑up Tax mentioned in that subsection, computed in accordance with the principles set out in sections 2‑35 and 6‑75.
 (3) Subsection (4) applies if:
 (a) any of the following circumstances exist:
 (i) a Joint Venture of an MNE Group is also a Joint Venture of another MNE Group;
 (ii) a JV Subsidiary of a Joint Venture of an MNE Group is also a JV Subsidiary of a Joint Venture of another MNE Group; and
 (b) as a result of those circumstances, subsection 2‑25(6) or (8) applies to the Joint Venture, or the JV Subsidiary, for a Fiscal Year, in relation to each of the MNE Groups.
 (4) Treat the reference in subsection (2) to "the amount of the Top‑up Tax" as instead being a reference to "half the amount of the Top‑up Tax".
Note: This means that the Joint Venture or the JV Subsidiary (or if subsection 2‑25(8) applies, the Main Entity) has a Domestic Top‑up Tax Amount for the Fiscal Year of half the amount of the Top‑up Tax, in relation to each MNE Group.

2‑35  Computing Top‑up Tax for the purposes of section 2‑30—principles
 (1) This section sets out principles for the purposes of section 2‑30.
 (2) Assume that the amount of Domestic Top‑up Tax referred to in section 5‑30, for the Fiscal Year mentioned in subsection 2‑25(1) or (5), were zero.
 (3) If a Constituent Entity of an MNE Group is a Securitisation Entity:
 (a) treat the GloBE Income of the Constituent Entity for any Fiscal Year as being zero for the purposes of the following:
 (i) the definition of Aggregate GloBE Income of all CEs in subsection 5‑40(2);
 (ii) the definition of Aggregate GloBE Income of all CEs for prior year in subsection 5‑40(5) (including that definition as it applies for the purposes of subsection 5‑40(7));
 (iii) the definition of GloBE Income of the CE in subsection 5‑40(2);
 (iv) the definition of GloBE Income of the CE for prior year