Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p120
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 300518–303342

MNE Group has submitted such a Country‑by‑Country Report for a Fiscal Year beginning after 31 December 2022—the Constituent Entity was required by law or regulation to change its separate financial accounts or separate financial statements for the Fiscal Year to include purchase accounting adjustments.

Goodwill impairment adjustment
 (5) The condition in this subsection is met if any reduction to the Constituent Entity's income attributable to an impairment of goodwill related to transactions entered into after 30 November 2021 is added back to the MNE Group's profit or loss before income tax:
 (a) for the purposes of applying the Routine profits test; and
 (b) for the purposes of applying the Simplified ETR test, but only if the financial accounts or separate financial statements do not also have a reversal of deferred tax liability, or recognition or increase of a deferred tax asset, in respect of the impairment of goodwill.

8‑75  Use of same kind of Qualified Financial Statements
 (1) Subsections (2) and (3) apply if:
 (a) a Constituent Entity of an MNE Group is a CbCR Resident of a jurisdiction; and
 (b) an amount in respect of a Fiscal Year is ascertained for the purposes of this Part in relation to the Constituent Entity; and
 (c) the amount is ascertained by reference to Qualified Financial Statements of the MNE Group to the extent that they relate to the Constituent Entity.
 (2) Ascertain any other amount that is:
 (a) in respect of the Fiscal Year; and
 (b) for the purposes of this Part; and
 (c) in relation to the Constituent Entity;
by reference to the same Qualified Financial Statements.
 (3) In ascertaining an amount in respect of the Fiscal Year for the purposes of this Part in relation to another Constituent Entity of the MNE Group that is a CbCR Resident of the jurisdiction, the following rules apply:
 (a) where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8‑70(1)(a)—disregard paragraphs 8‑70(1)(b) and (c);
 (b) where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8‑70(1)(b)—disregard paragraphs 8‑70(1)(a) and (c);
 (c) where the Qualified Financial Statements mentioned in subsection (1) are of a kind mentioned in paragraph 8‑70(1)(c)—disregard paragraphs 8‑70(1)(a) and (b).
 (4) A reference in this section to Constituent Entity does not include a reference to:
 (a) a Permanent Establishment; or
 (b) an NMCE for the Fiscal Year.
 (5) A reference in this section to an amount does not include a reference to the deferred tax component of income tax expense.

Subdivision F—Special rules for particular circumstances

8‑80  Transitional CbCR Safe Harbour—special rule for Joint Ventures
 (1) This section applies if there is a separate MNE Group mentioned in