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Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024
5‑20 Meaning of Top‑up Tax Percentage5‑20 Meaning of Top‑up Tax Percentage
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5‑20 Meaning of Top‑up Tax Percentage
(1) Subsection (2) applies in relation to an MNE Group for a jurisdiction for a Fiscal Year if it has an Effective Tax Rate for the jurisdiction for the Fiscal Year. (2) The Top‑up Tax Percentage of the MNE Group for the jurisdiction for the Fiscal Year is the amount computed in accordance with the following formula (but not less than zero): Start formula Minimum Rate minus ETR end formula where:
ETR is the Effective Tax Rate of the MNE Group for the jurisdiction for the Fiscal Year.