Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p124
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 310942–313772

under subsection 7‑125(1) (Investment Entity Transparency Election) does not apply to the Investment Entity and the Fiscal Year; and
 (c) an election under subsection 7‑145(1) (Taxable Distribution Method Election) does not apply to the Investment Entity and the Fiscal Year; and
 (d) each Constituent Entity‑owner of the Investment Entity is a CbCR Resident of the same jurisdiction as the Investment Entity.

Interpretation
 (8) For the purposes of this section, treat an Insurance Investment Entity as if it were an Investment Entity.
 (9) For the purposes of this section, treat each reference to a Constituent Entity‑owner of an Investment Entity as only including Constituent Entity‑owners that hold a Direct Ownership Interest in the Investment Entity.

8‑100  Transitional CbCR Safe Harbour—special rule for Net Unrealised Fair Value Loss
 (1) For the purposes of section 8‑10, in working out the MNE Group's Profit (Loss) before Income Tax for the jurisdiction for the Fiscal Year, disregard the MNE Group's Net Unrealised Fair Value Loss for the jurisdiction for the Fiscal Year if that Net Unrealised Fair Value Loss exceeds 50 million Euros.
 (2) An MNE Group's Net Unrealised Fair Value Loss for a jurisdiction for a Fiscal Year means the sum of all losses, as reduced by any gains, which arise from changes in fair value of Ownership Interests (except for Portfolio Shareholdings) held by any Constituent Entity of the MNE Group.

8‑105  Transitional CbCR Safe Harbour—exclusions
  Section 8‑10 does not apply in relation to an MNE Group for a jurisdiction for a Fiscal Year if any of the following conditions are satisfied:
 (a) the jurisdiction is a jurisdiction in which a Stateless Constituent Entity is taken to be located under section 5‑45;
 (b) the MNE Group is a combined MNE Group referred to in paragraph 6‑80(2)(a) (Multi‑Parented MNE Groups) and there is no single Qualified CbC Report that includes the information of the all the separate Groups referred to in that paragraph;
 (c) an election for the MNE Group under section 7‑40 (Deemed Distribution Tax election) applies to the Fiscal Year and the jurisdiction;
 (d) all of the following conditions are satisfied:
 (i) in a previous Fiscal Year, one or more Constituent Entities of the MNE Group were located in the jurisdiction;
 (ii) section 8‑10 did not apply in relation to the MNE Group for the jurisdiction for the previous Fiscal Year;
 (iii) the MNE Group was an Applicable MNE Group for the previous Fiscal Year.

Subdivision G—Treatment of Hybrid Arbitrage Arrangements

8‑110  Transitional CbCR Safe Harbour—Hybrid Arbitrage Arrangements
 (1) For the purposes of applying subsection 8‑10(1) in relation to an MNE Group and a jurisdiction:
 (a) exclude from the MNE Group's profit or loss before income tax for the jurisdiction any expense