Treasury Laws Amendment (Multinational - Global and Domestic Minimum Tax) (Consequential) Act 2024 (134 of 2024)
Schedule 1 Amendments
Taxation Administration Act 1953
54 After subsection 286-80(4B) in Schedule 1
Insert:
(4C) Neither subsection (3) nor (4) applies to the entity, and the *base penalty amount is multiplied by 500, if:
(a) the base penalty amount arises in relation to *Australian IIR/UTPR tax or *Australian DMT tax in relation to an *Applicable MNE Group for a *Fiscal Year; and
(b) the entity concerned is a *Group Entity of the Applicable MNE Group.
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