Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)
Schedule 1 Diverted profits tax
Income Tax Assessment Act 1997
28 Section 208-120 (at the end of the table)
Add:
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8 |
the entity *receives a refund of diverted profits tax; and the entity was an *exempting entity during all or part of the income year to which the refund relates; and the entity satisfies the *residency requirement for the income year to which the refund relates |
an amount equal to that part of the refund that is attributable to the period during which the entity is an exempting entity, multiplied by the proportion worked out under subsection (2) |
on the day on which the refund is received |