Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024
3‑110 Adjustment—Refundable Tax Credits 3‑110 Adjustment—Refundable Tax Credits and transferable tax credits
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3‑110 Adjustment—Refundable Tax Credits and transferable tax credits
In computing a Constituent Entity’s GloBE Income or Loss for a Fiscal Year, adjust the Constituent Entity’s Financial Accounting Net Income or Loss for the Fiscal Year so as to: (a) include tax credits in that Financial Accounting Net Income or Loss, in accordance with sections 3‑115 and 3‑120, to the extent they are: (i) Qualified Refundable Tax Credits; or (ii) Marketable Transferable Tax Credits; and (b) subject to paragraph (a), exclude tax credits from that Financial Accounting Net Income or Loss to the extent they are: (i) Non‑Qualified Refundable Tax Credits; or (ii) Non‑Marketable Transferable Tax Credits; or (iii) Other Tax Credits.