Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024
3‑65 Adjustment—policy disallowed expens3‑65 Adjustment—policy disallowed expenses
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3‑65 Adjustment—policy disallowed expenses
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 exclude the following: (a) expenses accrued by the Constituent Entity for illegal payments, including bribes and kickbacks; (b) expenses accrued by the Constituent Entity for a fine or penalty that equals or exceeds 50,000 Euros (or an equivalent in the Constituent Entity’s accounting functional currency for the Fiscal Year); (c) expenses accrued by the Constituent Entity for fines and penalties that are levied in respect of the same activity on a periodic basis (such as daily fines), the total of which equals or exceeds 50,000 Euros (or an equivalent in the Constituent Entity’s accounting functional currency for the Fiscal Year).