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 127-20   GloBE INFORMATION RETURNS GIVEN TO FOREIGN GOVERNMENT AGENCIES  

127-20(1)    
This section applies in relation to an * Applicable MNE Group for a * Fiscal Year if:

(a)    either:

(i) the * GloBE Ultimate Parent Entity of the Applicable MNE Group is * GloBE located in a foreign country or part of a foreign country that has a * Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; or

(ii) a * Designated Filing Entity in relation to the * GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year is GloBE located in a foreign country or part of a foreign country that has a Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; and

(b)    the GloBE Ultimate Parent Entity or Designated Filing Entity gives a GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year to a * foreign government agency of the foreign country or part of the foreign country no later than the time specified in section 127-60 in relation to the Fiscal Year.

127-20(2)    
Each * Group Entity of the * Applicable MNE Group that is required to give a * GloBE Information Return in respect of the Applicable MNE Group for the * Fiscal Year to the Commissioner:

(a)    is taken to give the GloBE Information Return to the Commissioner, in accordance with subsection 127-5(2) , at the time the * GloBE Ultimate Parent Entity or * Designated Filing Entity gives the GloBE Information Return to the * foreign government agency; and

(b)    must give the Commissioner a notice in accordance with subsection 127-30(1) in respect of the Applicable MNE Group for the Fiscal Year.

127-20(3)    
A foreign country or part of a foreign country has a Qualifying Competent Authority Agreement in effect with Australia for a * Fiscal Year if an agreement or arrangement that:

(a)    is between 2 or more competent authorities:

(i) at least one of which is a competent authority of Australia; and

(ii) at least one of which is a competent authority of that foreign country or part of a foreign country; and

(b)    provides for the automatic exchange of annual * GloBE Information Returns for the Fiscal Year;

is in effect.

Commissioner may require Group Entity to give GloBE Information Return

127-20(4)    
If:

(a)    under subsection (2) , a * Group Entity of the * Applicable MNE Group is taken to give a * GloBE Information Return in respect of the Applicable MNE Group for the * Fiscal Year to the Commissioner because the GloBE Information Return is given to a * foreign government agency; and

(b)    the relevant * Qualifying Competent Authority Agreement provides for the GloBE Information Return to be given to the Commissioner by a specified time; and

(c)    that time has passed, but the GloBE Information Return has not been given to the Commissioner under the Qualifying Competent Authority Agreement;

the Commissioner may, by written notice given to the Group Entity, request the Group Entity to give to the Commissioner a GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year in accordance with subsection 127-5(2) .

127-20(5)    
The * Group Entity must comply with the request in accordance with subsection (6) .

127-20(6)    
The * GloBE Information Return given under subsection (5) must be * lodged electronically.