Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p116
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 290233–292900

the Fiscal Year is less than 10 million Euros; and
 (b) the MNE Group's Profit (Loss) before Income Tax for the jurisdiction for the Fiscal Year is less than 1 million Euros.
 (2) However, the MNE Group does not meet the De minimis test for a jurisdiction for a Fiscal Year if the sum of the following equals or exceeds 10 million Euros:
 (a) the total revenue for the Fiscal Year of each Constituent Entity of the MNE Group that:
 (i) is located in the jurisdiction; and
 (ii) is covered by subsection (3);
 (b) the MNE Group's Total Revenue for the jurisdiction for the Fiscal Year.
 (3) For the purposes of subparagraph (2)(a)(ii), this subsection covers a Constituent Entity of the MNE Group if the Constituent Entity's assets, liabilities, income, expenses and cash flows are excluded from the Consolidated Financial Statements of the Ultimate Parent Entity of the MNE Group solely on the grounds that the Constituent Entity is held for sale.

8‑25  Meaning of Total Revenue of MNE Group
 (1) An MNE Group's Total Revenue, for a jurisdiction for a Fiscal Year, means the MNE Group's total revenues in the jurisdiction, as reported in its Qualified CbC Report in relation to the jurisdiction for the Fiscal Year.
 (2) Subsection (3) applies if an intragroup payment that is made between Group Entities of the MNE Group:
 (a) is treated as income in the Qualified Financial Statements of the recipient Group Entity; and
 (b) is treated as expense in the Qualified Financial Statements of the paying Group Entity.
 (3) For the purposes of subsection (1), include the amount of the intragroup payment in the MNE Group's total revenues mentioned in that subsection.

8‑30  Meaning of Profit (Loss) before Income Tax
 (1) An MNE Group's Profit (Loss) before Income Tax, for a jurisdiction for a Fiscal Year, means the MNE Group's profit or loss before income tax for the jurisdiction for the Fiscal Year, as reported in its Qualified CbC Report in relation to the jurisdiction for the Fiscal Year.
 (2) Subsection (3) applies if an intragroup payment that is made between Group Entities of the MNE Group:
 (a) is treated as income in the Qualified Financial Statements of the recipient Group Entity; and
 (b) is treated as expense in the Qualified Financial Statements of the paying Group Entity.
 (3) For the purposes of subsection (1), include the amount of the intragroup payment in the MNE Group's profit or loss before income tax mentioned in that subsection.
 (4) For the purposes of subsection (1), if:
 (a) a Constituent Entity of the MNE Group is a Permanent Establishment; and
 (b) a loss arising in respect of the Permanent Establishment is allocated to the