Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-18 - AUSTRALIAN IIR/UTPR TAX AND AUSTRALIAN DMT TAX  

Division 127 - General provisions relating to Australian IIR/UTPR tax and Australian DMT tax  

Subdivision 127-A - Returns  

GloBE Information Returns

SECTION 127-5   GloBE INFORMATION RETURNS  

Giving GloBE Information Returns

127-5(1)    
A * Group Entity of an * Applicable MNE Group for a * Fiscal Year must give the Commissioner a * GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year if the Group Entity is * GloBE located in Australia for the Fiscal Year.

Note:

The Group Entity is required to give the Commissioner a GloBE Information Return even if the amount of Australian IIR/UTPR tax and Australian DMT tax the Group Entity is liable to pay in relation to the Fiscal Year is nil.

127-5(2)    
The * GloBE Information Return given under subsection (1) must:

(a)    be * lodged electronically; and

(b)    be in the * approved form.

127-5(3)    
A GloBE Information Return , in respect of an * Applicable MNE Group for a * Fiscal Year, is a return that:

(a)    if a determination under subsection (4) specifies requirements - is in accordance with those requirements; and

(b)    if paragraph (a) does not apply - is in accordance with the standardised return developed in accordance with the * GloBE Implementation Framework, as amended from time to time; and

(c)    contains the following information concerning the Applicable MNE Group:

(i) identification of the * Constituent Entities of the Applicable MNE Group, including the jurisdiction in which they are * GloBE located for the Fiscal Year and their status under the * GloBE Rules;

(ii) information on the overall corporate structure of the Applicable MNE group in the Fiscal Year;

(iii) information relevant to the determination of Effective Tax Rates (within the meaning of the GloBE Rules), Top-up Tax (within the meaning of the GloBE Rules) and allocation of Top-up Tax for the Fiscal Year;

(iv) elections made, for the Fiscal Year, in accordance with the relevant provisions of the GloBE Rules;

(v) other information that is agreed as part of the GloBE Implementation Framework and is necessary to carry out the administration of the GloBE Rules.

127-5(4)    
For the purposes of paragraph (3)(a) , the Commissioner may, by legislative instrument, make a determination specifying requirements for a return.