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  

Australian DMT tax returns

SECTION 127-55   GloBE JOINT VENTURES AND GloBE JV SUBSIDIARIES  

127-55(1)    
This section applies if, in relation to an * Applicable MNE Group, any of the following has an * Australian DMT tax amount for a Fiscal Year (including a nil amount):

(a)    a * GloBE Joint Venture of the Applicable MNE Group;

(b)    a * GloBE JV Subsidiary of a GloBE Joint Venture of the * Applicable MNE Group.

127-55(2)    
In addition to the application that they have under this subsection, sections 127-45 and 127-50 apply, for the Fiscal Year, in relation to the * GloBE Joint Venture or the * GloBE JV Subsidiary in the same way they apply in relation to a * Group Entity of an Applicable MNE Group.

127-55(3)    
For the purposes of subsection (2) , treat:

(a)    the * GloBE Joint Venture and its * GloBE JV Subsidiaries as * Group Entities of a separate * Applicable MNE Group for the * Fiscal Year; and

(b)    the GloBE Joint Venture as the * GloBE Ultimate Parent Entity of that separate Applicable MNE Group.

127-55(4)    
Subsection (5) applies if:

(a)    a * Designated Local Entity of the * Applicable MNE Group mentioned in subsection (1) for a * Fiscal Year has been appointed, by each Entity mentioned in paragraphs (1)(a) and (b) that is required to give the Commissioner an * Australian DMT tax return for the Fiscal Year (each of which is a reporting Entity ), to give an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of the reporting Entity; and

(b)    the Designated Local Entity gives an Australian DMT tax return for the Fiscal Year to the Commissioner on behalf of those reporting Entities in accordance with subsection 127-45(3) .

127-55(5)    
Each of the reporting Entities is taken to give the * Australian DMT tax return to the Commissioner at the time at which the * Designated Local Entity gives the Australian DMT tax return to the Commissioner.

127-55(6)    
However, subsection (5) does not apply to the reporting Entities if any reporting Entity appoints more than one * Designated Local Entity under paragraph (4)(a) for the Fiscal Year.

Note:

In these circumstances, section 127-50 may still apply.