Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 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.
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