Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024
5‑105 De minimis exclusion5‑105 De minimis exclusion
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5‑105 De minimis exclusion
(1) The Top‑up Tax of a Constituent Entity of an MNE Group located in a jurisdiction is taken to be zero for a Fiscal Year if: (a) the Average GloBE Revenue of the MNE Group for the jurisdiction for the Fiscal Year is less than 10 million Euros; and (b) the Average GloBE Income or Loss of the MNE Group for the jurisdiction for the Fiscal Year is a loss or is less than 1 million Euros; and (c) an election for the MNE Group under subsection (2) applies to the jurisdiction and the Fiscal Year; and (d) the Constituent Entity is not a Stateless Constituent Entity, an Investment Entity or an Insurance Investment Entity. Election (2) A Filing Constituent Entity for the MNE Group may make an election for the MNE Group under this subsection that applies to a specified jurisdiction. (3) An election under subsection (2) is an Annual Election.