Nya förenklingsregler och andra kompletteringar i lagen om tilläggsskatt

Lagrådsremiss

Nya förenklingsregler och andra kompletteringar i lagen om tilläggsskatt

Regeringen överlämnar denna remiss till Lagrådet.

Stockholm den 13 augusti 2026

Elisabeth Svantesson

Johan Lindqvist

(Finansdepartementet)

Lagrådsremissens huvudsakliga innehåll

I denna lagrådsremiss lämnas förslag på ändringar och kompletteringar i lagen om tilläggsskatt. Det lämnas förslag om två nya förenklingsregler som ska gälla om ett moderföretag hör hemma i en stat som har blivit godkänd som en stat med ett parallellt system för minimibeskattning. Den ena ska gälla vid parallella system för minimibeskattning av inhemsk och utländsk inkomst. Den andra ska gälla vid parallella system för minimibeskattning av inhemsk inkomst. Därutöver lämnas förslag om regler om kvalificerade skatteincitament och kompletteringar av bestämmelserna om uppskjuten skattekostnad när koncernenheter i en stat börjar omfattas av tilläggsskattereglerna. Det lämnas också förslag om att förlänga tillämpningen av den tillfälliga förenklingsregeln och övergångsperioden beträffande förenklingsregeln för kompletteringsregeln.

Lagändringarna föreslås träda i kraft den 1 januari 2027 och tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026. Det införs en möjlighet för den rapporterande enheten att begära retroaktiv tillämpning av bestämmelserna.

1¶Beslut

Regeringen har beslutat att inhämta Lagrådets yttrande över förslag till lag om ändring i lagen (2023:875) om tilläggsskatt.

2¶Förslag till lag om ändring i lagen (2023:875) om tilläggsskatt

Härigenom föreskrivs i fråga om lagen (2023:875) om tilläggsskatt

dels att 1 kap. 10 §, 2 kap. 1, 29, 29 a och 30 §§, 4 kap. 1 och 25–27 §§, 7 kap. 67 och 68 §§ och 8 kap. 1, 2, 4, 9 och 14 §§ och rubriken närmast före 2 kap. 29 § ska ha följande lydelse,

dels att det ska införas sex nya paragrafer, 4 kap. 17 a–17 d §§ och 8 kap. 18 a och 18 b §§, och närmast före 4 kap. 17 a och 17 d §§ och 8 kap. 18 a § nya rubriker av följande lydelse.

1 kap.

2 kap.

1 §

I detta kapitel finns definitioner av vissa begrepp samt förklaringar till hur vissa termer och uttryck används i denna lag. Det finns definitioner av 1 Senaste lydelse 2025:1461. 5

vissa begrepp och förklaringar till hur vissa termer och uttryck används i lagen också i andra kapitel. Definitioner av följande begrepp samt förklaringar till hur vissa termer och uttryck används finns i nedan angivna paragrafer: allmänt erkänd redovisningsstandard i 20 § asymmetrisk vinst och förlust i utländsk valuta i 3 kap. 13 § balansvärde i 5 kap. 5 § beskattningsår i 24 § bestämmande inflytande i 14 § betydande snedvridning av konkurrensen i 3 kap. 7 § bokfört nettovärde av materiella tillgångar i 23 § delägarbeskattad enhet i 7 kap. 2 § delägd moderenhet i 13 § dotterföretag till ett samriskföretag i 7 kap. 44 § effektiv skattesats i 3 kap. 37 § enhet i 6 § första stycket fast driftställe i 7 kap. 17 § fastighetsinvesteringsföretag i 40 § försäkringsinvesteringsenhet i 41 § godkänd redovisningsstandard i 21 § godkänt utdelningsskattessystem i 31 § huvudenhet i 7 kap. 18 § huvudregel för tilläggsskatt i 4 § hybridenhet i 41 a § hör hemma i 1 kap. 11–16 §§ icke kvalificerat imputationsbelopp i 28 § icke marknadsmässigt överlåtbart skattetillgodohavande i 29 f § ideell organisation i 34 § internationell organisation i 33 § investeringsenhet i 38 § investeringsenhet för pensioner i 37 § investeringsfond i 39 § justerat resultat i 3 kap. 2 § justerad skattekostnad i 3 kap. 23 § kompletteringsregel för tilläggsskatt i 5 § koncern i 7 § koncernenhet i 8 § koncernredovisning i 19 § kvalificerat imputationsbelopp i 27 §

kvalificerat skatteincitament i

4 kap. 17 c §

kvalificerat skattetillgodohav- kvalificerat skattetillgodohavande i 29 § ande i 29 § andra och tredje

styckena

lågbeskattad koncernenhet i 44 § lågskattestat i 45 § marknadsmässigt överlåtbart skattetillgodohavande i 29 a–29 e §§ medräknade skatter i 3 kap. 24–26 §§ mellanliggande moderenhet i 12 § 6 minimiskattesats i 25 §

minoritetsägd koncernenhet i 7 kap. 42 § modellreglerna i 47 § moderenhet i 10 § moderföretag i 11 § myndighetsenhet i 32 § nettoskattekostnad i 3 kap. 8 § offentligt organ i 6 § tredje stycket omorganisering i 7 kap. 59 § omvänd hybridenhet i 7 kap. 4 § pensionsenhet i 35 § pensionsfond i 36 § portföljinnehav i 17 § procentsats för tilläggsskatt i 3 kap. 38 § första stycket rapporterande enhet i 43 § redovisat resultat i 18 § regel om nationell tilläggsskatt i 3 § räkenskapsår i 22 § samriskföretag i 7 kap. 43 §

skattetillgodohavande i 29 § första stycket

skattetransparent enhet i 7 kap. 3 § stat i 46 § statslös koncernenhet i 48 § substansbelopp i 5 kap. 2 § svensk koncernenhet i 9 § system för beskattning av kontrollerade utländska företag i 26 § system med avdragsgill utdelning i 7 kap. 66 § särskild uppskjuten skattefordran i 4 kap. 13 § tilläggsskatt i 2 § tilläggsskattebelopp i 3 kap. 37–39 §§ tilläggsskatterapport i 42 § undantagna utdelningar i 3 kap. 9 § undantagen vinst och förlust avseende ägarintressen i 3 kap. 10 § undantagna enheter i 1 kap. 5–8 §§ värdet beträffande tilläggsskatt i 23 a § ägarenhet i 16 § ägarintresse i 15 § överskjutande vinst i 3 kap. 38 § andra stycket övrigt skattetillgodohavande i 30 §.

Kvalificerat skattetillgodohavande Skattetillgodohavande och kvalificerat skattetillgodohavande

29 §

Med skattetillgodohavande avses ett tillgodohavande som ger innehavaren rätt att minska skyldigheten att betala medräknade skatter i den stat som beviljar tillgodo-

havandet. Med kvalificerat skattetillgodohavande avses 7

1. ett anspråk på återbetalning 1. ett skattetillgodohavande med (skattetillgodohavande) som är anspråk på återbetalning som är utformat på ett sådant sätt att det utformat på ett sådant sätt att det ska betalas kontant eller på något ska betalas kontant eller på något motsvarande sätt till en koncern- motsvarande sätt till en koncernenhet inom fyra år från den dag då enhet inom fyra år från den dag då koncernenheten har rätt att erhålla koncernenheten har rätt att erhålla betalningen enligt lagstiftningen i betalningen enligt lagstiftningen i den stat som beviljar detta, eller den stat som beviljar detta, eller

2. om skattetillgodohavandet delvis återbetalas, den del av skattetillgodohavandet som ska betalas kontant eller på något motsvarande sätt till en koncernenhet inom fyra år från den dag då koncernenheten har rätt att erhålla detta belopp.

Ett kvalificerat skattetillgodohavande ska inte omfatta något skattebelopp som kan avräknas eller återbetalas på grundval av ett imputationsbelopp enligt 27 eller 28 §.

29 a §

Med marknadsmässigt överlåt- Med marknadsmässigt överlåtbart skattetillgodohavande avses ett bart skattetillgodohavande avses ett

tillgodohavande skattetillgodohavande

1. som inte är ett kvalificerat skattetillgodohavande,

2. som ger innehavaren en rätt att minska sin kostnad avseende medräknade skatter i den stat som

beviljar tillgodohavandet,

3. som uppfyller kriteriet om 2. som uppfyller kriteriet om överlåtbarhet i 29 b §, och överlåtbarhet i 29 b §, och

4. vars överlåtbarhet uppfyller 3. vars överlåtbarhet uppfyller kriteriet om marknadsmässighet i kriteriet om marknadsmässighet i 29 c §. 29 c §.

30 §

Med övrigt skattetillgodo- Med övrigt skattetillgodohavande avses ett anspråk på åter- havande avses ett skattetillgodobetalning som inte omfattas av 29, havande som inte omfattas av 29 § 29 a eller 29 f §. andra stycket, 29 a eller 29 f §.

4 kap.

1 §

I detta kapitel finns bestämmelser om

– val som påverkar det justerade resultatet (2–12 k §§),

– val som påverkar den justerade – val som påverkar den justerade skattekostnaden (13–17 §§), skattekostnaden (13–17 d §§),

– tillkommande tilläggsskattebelopp när det sammanlagda justerade resultatet i en stat är en förlust (18–19 a §§),

2 Senaste lydelse 2024:1248. 3 Senaste lydelse 2024:1248. 4 8 Senaste lydelse 2024:1248.

– justering av skattekostnad i efterhand (20–24 §§), och – uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar vid övergången till systemet (25–28 b §§).

Kvalificerat skatteincitament

17 a § Vid tillämpning av 3 kap. 37 § får den rapporterande enheten välja att de sammanlagda justerade skattekostnaderna ska ökas med ett belopp som motsvarar skatteeffekten av ett kvalificerat skatteincitament. Ökningen får inte överstiga det högsta av följande

belopp:

1. 5,5 procent av personalkostnaderna enligt 5 kap. 3 §, och 2. 5,5 procent av de redovisade kostnaderna för avskrivningar på tillgångar som avses i 5 kap. 4 § i den stat där koncernenheterna hör

hemma.

Vid tillämpning av första stycket ska – personalkostnader i 1 även omfatta sådana kostnader som

anges i 5 kap. 3 § andra stycket 1,

och – redovisade kostnader för avskrivningar i 2 inte omfatta avskrivningar på sådana tillgångar

som avses i 5 kap. 4 a §.

Den rapporterande enheten får, i stället för vad som anges i första stycket 1 och 2, välja att det belopp som skattekostnaden ska ökas med får uppgå till högst 1 procent av det redovisade värdet av sådana tillgångar som avses i 5 kap. 4 § och som finns i den stat där

koncernenheterna hör hemma.

Värdet av mark, övriga icke avskrivningsbara tillgångar och sådana tillgångar som avses i

5 kap. 4 a § ska inte ingå i det redovisade värdet. Ett sådant val gäller i fem år från och med det

räkenskapsår som valet avser. Därefter fortsätter valet att gälla, om den rapporterande enheten inte 9

återkallar valet. Om valet återkallas kan ett nytt val göras först fem år efter det år som återkallelsen avser. Om valet återkallas ska tillgångar som har omfattats av valet undantas från beräkningen

enligt första stycket 2.

17 b § Med kvalificerat skatteincitament avses ett allmänt tillgängligt skatteincitament till den del det är utgiftsbaserat eller produktionsbaserat. Ett skatteincitament är ett incitament som minskar skyldigheten att betala aktuella eller framtida medräknade skatter. Ett skatteincitament är utgiftsbaserat om det baseras på utgifter som en koncernenhet har haft när incitamentet beviljas och summan av skatteeffekten av incitamentet och övriga skatteincitament för samma utgift inte överstiger den

utgift som incitamentet baseras på.

Ett skatteincitament är produktionsbaserat om det baseras på

volymen av materiella tillgångar,

inklusive elektricitet, som har producerats i staten när

incitamentet beviljas.

17 c § Med skatteeffekt av ett kvalificerat skatteincitament avses

något av följande:

1. den minskning av skyldigheten att betala medräknade skatter som uppkommer för ett beskattningsår på grund av ett utnyttjat skatteincitament i form av en

skattereduktion,

2. den del av ett kostnadsavdrag för ett beskattningsår som överstiger 100 procent av utgiften multiplicerad med bolagsskatte-

satsen,

3. ett kostnadsavdrag för ett beskattningsår som annars inte skulle ha varit avdragsgillt enligt

lokala skatteregler multiplicerat

med bolagsskattesatsen,

4. en skattefri inkomst multi-

plicerad med bolagsskattesatsen,

eller 5. en inkomst som beskattas med en lägre skattesats än den generellt tillämpliga bolagsskattesatsen multiplicerad med skillnaden

mellan dessa skattesatser.

Kvalificerat respektive marknadsmässigt överlåtbart skattetillgodohavande

17 d § Den rapporterande enheten får, i

stället för vad som anges i 3 kap.

18–18 c §§, välja att behandla hela eller delar av ett kvalificerat skattetillgodohavande eller ett marknadsmässigt överlåtbart skattetillgodohavande som ett kvalificerat skatteincitament om skattetillgodohavandet uppfyller

villkoren i 17 b §.

25 § Vid fastställande av den effektiva Vid fastställande av den effektiva

skattesatsen för koncernenheter i en skattesatsen för koncernenheter i en stat för ett övergångsår enligt 26 § stat för ett övergångsår enligt 26 § och för varje därpå följande och för varje därpå följande räkenskapsår ska alla de uppskjutna räkenskapsår ska alla de uppskjutna skattefordringar och uppskjutna skattefordringar och uppskjutna skatteskulder som återspeglas eller skatteskulder som återspeglas eller redovisas i alla koncernenheters redovisas i alla koncernenheters räkenskaper i en stat beaktas för räkenskaper i en stat beaktas för övergångsåret. övergångsåret. Detta gäller dock

inte om de uppskjutna skattefordringarna och uppskjutna skatteskulderna avser skatt enligt ett sådant system för beskattning av kontrollerade utländska företag som avses i 2 kap. 26 §, och skatten för kontrollerade utländska företag enligt detta system beräknas gemensamt för samtliga sådana

företag. Uppskjutna skattefordringar och uppskjutna skatteskulder ska räknas

med utifrån den skattesats som är lägst av minimiskattesatsen och den tillämpliga nationella skattesatsen. En uppskjuten skattefordran som har 11

redovisats till en skattesats som är lägre än minimiskattesatsen får dock räknas om enligt minimiskattesatsen om den skattskyldige kan visa att den uppskjutna skattefordran är hänförlig till en justerad förlust.

Effekter som uppstår när värdet på en uppskjuten skattefordran justeras eller när principer för att ta upp en sådan fordran i räkenskaperna ändras ska inte påverka värdet av den uppskjutna skattefordran.

26 §

Med övergångsår för en stat Med övergångsår för en stat avses det första räkenskapsår då en avses det första räkenskapsår då en koncernenhet omfattas av en lag- koncern omfattas av lagens stiftning som är likvärdig med och tillämpningsområde i fråga om den administreras på ett sätt som är staten.

förenligt med 1. bestämmelserna i rådets direktiv 2022/2523, i den ursprungliga lydelsen, eller 2. när det gäller en stat utanför Europeiska unionen, modell-

reglerna.

27 §

Uppskjutna skattefordringar och uppskjutna skatteskulder som avses i 25 § ska inte justeras enligt 3 kap. 34 eller 35 §.

Uppskjutna skattefordringar som härrör från sådana poster som enligt 3 kap. inte ska ingå vid beräkningen av det justerade resultatet ska dock undantas från den beräkning som avses i 25 § när sådana uppskjutna skattefordringar uppkommer i en transaktion som har ägt rum efter den 30 november 2021.

Följande uppskjutna skattefordringar och uppskjutna skatteskulder ska undantas från den

beräkning som avses i 25 §:

1. uppskjutna skattefordringar som uppstått på grund av en sådan överenskommelse med myndigheterna i en stat som har ingåtts eller ändrats efter den 30 november

2021,

2. uppskjutna skattefordringar som har uppstått då en koncernenhet har gjort eller ändrat

ett val efter den 30 november 2021,

om valet retroaktivt ändrar behandlingen av en transaktion som har ingått i koncernenhetens beskattningsbara inkomst ett

tidigare beskattningsår,

5 12 Senaste lydelse 2024:1248.

3. uppskjutna skattefordringar och uppskjutna skatteskulder som har uppstått till följd av att en koncernenhet har använt ett annat skattemässigt värde än det bokförda värdet vid övergången till systemet när bolagsskatt har införts i en stat efter den 30 november

2021 men före övergångsårets början, och 4. en uppskjuten skattefordran till den del fordran beror på en förlust som har uppstått mer än fem räkenskapsår innan bolagsskatt

har införts i en stat.

7 kap.

67 § Den justerade vinsten för ett Den justerade vinsten för ett

moderföretag i en koncern som moderföretag i en koncern som omfattas av ett system med omfattas av ett system med avdragsgill utdelning ska minskas avdragsgill utdelning ska minskas, med belopp som delas ut som dock lägst till noll, med belopp som avdragsgill utdelning inom tolv delas ut som avdragsgill utdelning månader efter utgången av det inom tolv månader efter utgången räkenskapsår som den justerade av det räkenskapsår som den vinsten avser, om justerade vinsten avser, om

1. mottagaren beskattas för utdelningen med en skattesats som är lika med eller högre än minimiskattesatsen och inkomsten hänförs till ett beskattningsår som avslutas senast tolv månader efter utgången av räkenskapsåret, eller

2. det rimligen kan förväntas att det sammanlagda beloppet av medräknade skatter för moderföretaget och skatt som mottagaren betalar på utdelningen är lika med eller överstiger den utdelande enhetens inkomst multiplicerad med minimiskattesatsen.

Vid tillämpningen av bestämmelserna i första stycket ska mottagaren anses ha beskattats för utdelning som lämnats i förhållande till inköp från ett inköpskooperativ till den del utdelningen minskar en avdragsgill utgift eller kostnad.

68 §

Den justerade vinsten för ett Den justerade vinsten för ett moderföretag i en koncern som moderföretag i en koncern som omfattas av ett system med omfattas av ett system med avdragsgill utdelning ska, utöver avdragsgill utdelning ska, utöver vad som anges i 67 §, minskas med vad som anges i 67 §, minskas, det belopp som delas ut som dock lägst till noll, med det belopp avdragsgill utdelning inom tolv som delas ut som avdragsgill månader efter utgången av det utdelning inom tolv månader efter räkenskapsår som den justerade utgången av det räkenskapsår som vinsten avser, om mottagaren är 13

den justerade vinsten avser, om

mottagaren är

1. en fysisk person som är medlem i ett inköpskooperativ, och utdelningen lämnas i förhållande till gjorda inköp,

2. en fysisk person som har skatterättslig hemvist och är skattskyldig i den stat där moderföretaget hör hemma och dennes ägarintressen ger rätt till högst fem procent av vinst och tillgångar i moderföretaget, eller

3. ett offentligt organ, en myndighetsenhet, en internationell organisation, en ideell organisation eller en pensionsfond som hör hemma i den stat där moderföretaget hör hemma.

8 kap.

1 § I detta kapitel finns bestämmelser om – tidsgräns för den tillfälliga förenklingsregeln (2 §), – villkor för den tillfälliga förenklingsregeln (3–7 a §§), – särskilda enheter och koncerner (8–11 §§), – verkan av konstlade arrangemang (11 a–11 g §§), – undantag från tillämpningen av den tillfälliga förenklingsregeln (12 §), – övergångsår (13 §), – förenkling av kompletteringsregeln för tilläggsskatt (14 §), – en förenklingsregel för koncernenheter utan väsentlig betydelse för koncernredovisningen (15–17 §§),

– en förenklingsregel för – en förenklingsregel för utländsk nationell tilläggsskatt utländsk nationell tilläggsskatt (18 §), och (18 §),

– förenklingsregler när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem (18 a och 18 b §§), och

– val (19 §).

2 §

Bestämmelserna i 3–13 §§ gäller för koncernenheter i en stat för tid som

– motsvarar de räkenskapsår som gäller för enheternas moderföretag, och

– börjar närmast efter den – börjar närmast efter den 31 december 2023 men före den 31 december 2023 men före den 1 januari 2027. 1 januari 2028.

Bestämmelserna gäller dock inte Bestämmelserna gäller dock inte för räkenskapsår som avslutas efter för räkenskapsår som avslutas efter den 30 juni 2028. den 30 juni 2029.

4 §

Tilläggsskattebeloppet för koncernenheterna i en stat ska anses vara noll, om koncernenheterna tillsammans har en effektiv skattesats som är lika

6 Senaste lydelse 2024:1248. 7 14 Senaste lydelse 2024:1248.

med eller större än den procentsats som anges i tredje stycket. Den effektiva skattesatsen ska motsvara kvoten mellan koncernenheternas skattekostnad enligt andra stycket och deras vinst eller förlust före inkomstskatt enligt koncernens kvalificerade land-för-land-rapport.

Med skattekostnad avses i första Med skattekostnad avses i första stycket sådan skattekostnad som stycket sådan skattekostnad som redovisas i koncernens kvalific- redovisas i koncernens kvalificerade finansiella rapport minskad erade finansiella rapport minskad med skatter som inte är med- med skatter som inte är medräknade skatter och medräknade räknade skatter och medräknade skatter som hänför sig till en osäker skatter som hänför sig till en osäker skattesituation. skattesituation. Skattekostnaden

ska även minskas med belopp som återförs i redovisningen och som avser uppskjutna skattefordringar enligt 4 kap. 27 § tredje stycket 1–

3. Procentsatsen enligt första stycket ska vara – 15 procent för räkenskapsår som börjar under 2024, – 16 procent för räkenskapsår som börjar under 2025, och

– 17 procent för räkenskapsår – 17 procent för räkenskapsår som börjar under 2026. som börjar under 2026 och 2027.

9 §

Vid tillämpningen av 3–7 §§ Vid tillämpningen av 3–7 §§ gäller följande för moderföretag gäller följande för moderföretag som är delägarbeskattade enheter som är delägarbeskattade enheter eller enheter som omfattas av ett eller enheter som omfattas av ett system med avdragsgill utdelning. system med avdragsgill utdelning. Vinsten före bolagsskatt ska Vinsten före bolagsskatt ska minskas i den utsträckning som minskas, dock lägst till noll, i den beloppet är hänförligt till en utsträckning som beloppet är persons ägarintresse i den delägar- hänförligt till en persons ägarbeskattade enheten eller utdelat till intresse i den delägarbeskattade följd av en ägarandel som innehas enheten eller utdelat till följd av en av en sådan person. ägarandel som innehas av en sådan

person.

Med person avses i första stycket en sådan innehavare av ett ägarintresse som bestämmelserna i 7 kap. 12 och 13 §§ avser eller sådana mottagare som bestämmelserna i 67 och 68 §§ avser.

För delägarbeskattade enheter gäller första stycket bara om samtliga ägarintressen i moderföretaget innehas av någon som avses i 7 kap. 12 och 13 §§.

14 §

Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för den stat där moderföretaget hör hemma om bolags-

8 Senaste lydelse 2024:1248. 15

skattesatsen i den staten uppgår till minst 20 procent för varje räkenskapsår under övergångsperioden. Med övergångsperioden avses de Med övergångsperioden avses de räkenskapsår som inte omfattar mer räkenskapsår som inte omfattar mer än tolv månader och som börjar den än tolv månader och som börjar den 31 december 2025 eller tidigare 31 december 2025 eller tidigare och slutar före den 31 december och slutar före den 31 december 2026. 2026. Med övergångsperioden

avses också de räkenskapsår som enligt tillämplig redovisningsstandard är 52 eller 53 veckor och som börjar den 31 december 2025 eller tidigare och slutar före den 4

januari 2027.

Förenklingsregler när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem

18 a § Tilläggsskattebeloppet enligt huvud- och kompletteringsregeln för tilläggsskatt ska anses vara noll för koncernenheter om moderföretaget hör hemma i en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst som är godkänt av OECD/G20 Inclusive Framework

on BEPS.

Det som sägs om koncernenheter i första stycket gäller också för samriskföretag och dotterföretag till samriskföretag som tillhör en koncern vars moderföretag

uppfyller villkoret i första stycket.

Det gäller dock bara för koncernens andel av tilläggs-

skattebeloppet.

18 b § Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för den stat där moderföretaget hör hemma om den staten har ett parallellt system för minimibeskattning av inhemsk inkomst som är godkänt av OECD/G20 Inclusive Framework

16 on BEPS.

1. Denna lag träder i kraft den 1 januari 2027.

2. Lagen tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2026.

3. Den rapporterande enheten får tillämpa samtliga eller vissa av bestämmelserna första gången för beskattningsår som börjar närmast efter den 31 december 2024 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2024. Bestämmelserna i 4 kap. 17 a–17 d §§ samt 8 kap. 18 a och 18 b §§ får dock tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2025 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2025.

3¶Ärendet och dess beredning

Den 1 januari 2024 trädde lagen (2023:875) om tilläggsskatt i kraft. Genom lagen genomfördes rådets direktiv (EU) 2022/2523 av den 14 december 2022 om säkerställande av en global minimiskattenivå för multinationella koncerner och storskaliga nationella koncerner i unionen, kallat minimibeskattningsdirektivet, i svensk rätt. Syftet med minimibeskattningsdirektivet är att genomföra de modellregler om en global minimibeskattning (Global Anti-Base Erosion Model Rules, hädanefter kallade modellreglerna) som arbetats fram inom ramen för OECD/G20:s Inclusive Framework on Base Erosion and Profit Shifting (BEPS), det inkluderande ramverket, hädanefter kallat IF. Sedan modellreglerna antogs år 2021 har arbetet inom IF fortsatt och pågår fortfarande.

Administrativa riktlinjer har antagits av IF den 24 maj 2024, 13 januari 2025, 5 januari 2026 och 11 maj 2026. Riktlinjerna finns i bilaga 1–4. De administrativa riktlinjerna medför att lagen om tilläggsskatt behöver ändras och kompletteras i vissa delar. Inom Finansdepartementet har det därför tagits fram en promemoria, Nya förenklingsregler och andra kompletteringar i lagen om tilläggsskatt.

En sammanfattning av promemorian finns i bilaga 5. Promemorians lagförslag finns i bilaga 6.

Promemorian har remissbehandlats. En förteckning över remissinstanserna finns i bilaga 7. Remissvaren finns tillgängliga på regeringens webbplats (regeringen.se) och i Finansdepartementet (Fi2026/00780).

I denna lagrådsremiss behandlas promemorians lagförslag.

4¶Bakgrund

Den 14 december 2022 antogs minimibeskattningsdirektivet. Syftet med direktivet är att genomföra modellreglerna om global minimibeskattning som antogs av IF, den 14 december 2021. I svensk rätt har reglerna implementerats genom lagen (2023:875) om tilläggsskatt som trädde i kraft den 1 januari 2024.

Syftet med modellreglerna är att säkerställa att stora multinationella koncerners vinster beskattas med en effektiv skattesats om minst 15 procent beräknat på ett underlag som utgår från koncernredovisningen. Modellreglerna utgör ett koordinerat system för beskattning av lågbeskattade vinster genom att tilläggsskatt tas ut på sådana vinster av koncernenheter som hör hemma i en annan stat. Reglerna ska genomföras i form av ett gemensamt tillvägagångssätt. Det innebär att de stater som enats om reglerna inte är förbundna att införa dem i nationell rätt, men om de gör det ska reglerna införas och administreras i enlighet med modellreglerna och tillhörande kommentar med förklaringar och exempel (Tax Challenges Arising from the Digitalisation of the Economy – Commentary to the Global Anti-Base Erosion Model Rules [Pillar Two], hädanefter kallad kommentaren till modellreglerna), som godkänts av IF.

Kommentaren ändras genom s.k. administrativa riktlinjer, som syftar till att klargöra tolkning och tillämpning av reglerna. Administrativa riktlinjer som antogs av IF den 24 maj 2024 och publicerades i juni 2024 har därefter, förutom på en punkt, införts i lagen om tilläggsskatt genom propositionen Ytterligare kompletteringar till bestämmelserna om tilläggsskatt för företag i stora koncerner (prop. 2025/26:22) till den del det har krävts en lagändring. Ytterligare administrativa riktlinjer har därefter antagits av IF den 13 januari 2025. Vidare har IF den 5 januari 2026 antagit administrativa riktlinjer i form av ett paket med fem förenklingsregler (sida-vid-sida-paketet), varav fyra omfattas av denna lagrådsremiss. Den femte förenklingsregeln kommer att behandlas i ett annat lagstiftningsärende. Den 11 maj 2026 antogs ytterligare administrativa riktlinjer, vilka behandlas i denna lagrådsremiss. Den 28 maj 2026 publicerades en ny konsoliderad version av kommentaren till modellreglerna, som inkluderar administrativa riktlinjer och förenklingsregler fram t.o.m. maj 2026.

Eftersom arbetet med modellreglerna om global minimibeskattning ännu inte är avslutat kommer det sannolikt att antas ytterligare administrativa riktlinjer framöver.

5¶Det behöver införas ytterligare bestämmelser om tilläggsskatt för företag i stora koncerner

Regeringens bedömning

Lagen om tilläggsskatt behöver kompletteras med ytterligare bestämmelser med anledning av de administrativa riktlinjerna från juni 2024, januari 2025, januari och maj 2026 inom ramen för det inkluderande ramverket.

Den föreslagna utformningen av dessa ytterligare bestämmelser i denna lagrådsremiss bedöms vara förenlig med minimibeskattningsdirektivet och fördraget om Europeiska unionens funktionssätt.

Promemorians bedömning

Bedömningen i promemorian överensstämmer med regeringens.

Remissinstanserna

Juridiska fakultetsnämnden vid Stockholms universitet anför att minimibeskattningsdirektivet är statiskt, medan OECD:s arbete är dynamiskt, och det framstår som svårt att implementera sida-vid-sidapaketet (Side-by-Side Package) på ett direktivkonformt sätt, eftersom det är förtydliganden utan ändrade materiella regler. Det är tveksamt om det kan sägas utgöra ett ”kvalificerande internationellt avtal om safe harbour” enligt artikel 32 i direktivet. FAR och Skatteverket påtalar behovet av en tvistlösningsmekanism.

Skälen för regeringens bedömning

I minimibeskattningsdirektivet anges att genomförandet av modellreglerna inom unionen bör ligga så nära den globala överenskommelsen som möjligt (skäl 4 och 6 i direktivet). Detta ska säkerställa att de regler som medlemsstaterna genomför i enlighet med direktivet är kvalificerade i den mening som avses i modellreglerna och att det blir en konsekvent tillämpning av reglerna i medlemsstaterna. I direktivet anges vidare att modellreglerna, förklaringarna och exemplen i kommentaren till modellreglerna som godkänts av IF samt implementeringspaketet, inbegripet dess safe harbour-dokument, utgör en källa till illustration eller tolkning i den mån dessa källor är förenliga med direktivet och unionsrätten (skäl 24 i direktivet). Vidare har kommissionen vid Ekofin-rådets möte den 9 november 2023 uttalat att den anser att 2022 års dokument om safe harbour-regler och de administrativa riktlinjerna från februari och juli 2023 är förenliga med direktivet. Därefter har kommissionen den 30 september 2025 förklarat detsamma avseende de administrativa riktlinjerna från juni 2024 och januari 2025. I ett tillkännagivande den 12 januari 2026 erkänner kommissionen det avtal om safe harbour, dvs. de administrativa riktlinjerna, som IF antog i januari 2026 och bekräftar dess tillämpning inom ramen för direktivet, dvs. att riktlinjerna utgör ett sådant kvalificerat internationellt avtal om safe harbour som avses i artikel 32 i direktivet.

Av de administrativa riktlinjerna från december 2023 (punkt 4) framgår bl.a. följande. Utifrån artikel 8.3 i modellreglerna har IF kommit överens om att en stat som implementerar reglerna ska ”tillämpa modellreglerna i enlighet med antagna administrativa riktlinjer med förbehåll för de krav som följer av nationell rätt”. Uttrycket antagna administrativa riktlinjer definieras i artikel 10.1 i modellreglerna som riktlinjer som har utfärdats av IF om ”tolkningen eller administrationen av modellreglerna”. Administrativa riktlinjer förväntas spela en viktig roll när det gäller förutsebarheten genom att klargöra tolkningen av modellreglerna och genom att ge skattemyndigheter vägledning när det gäller hur reglerna ska tillämpas. Eftersom de administrativa riktlinjerna också kommer att återspegla IF:s gemensamma syn på hur modellreglerna ska tolkas och tillämpas kommer de att spela en viktig roll för att säkerställa en konsekvent tillämpning av modellreglerna och för att skapa en jämn spelplan för multinationella koncerner. Vidare framgår bl.a. att definitionen av ”antagna administrativa riktlinjer” enligt artikel 10.1 i modellreglerna förutser att IF kan anta riktlinjer både vad gäller tolkningen och tillämpningen av reglerna (punkt 5). Riktlinjerna kompletterar eller ersätter punkter i kommentaren eller förklarar hur ordalydelsen ska tillämpas på vissa förhållanden.

Arbetet med kommentarerna till OECD:s modellregler pågår och är ännu inte avslutat. De administrativa riktlinjer som antogs av IF den 24 maj 2024 och publicerades i juni 2024 infördes i de delar det krävdes lagändringar i allt väsentligt i lagen om tilläggsskatt den 1 januari 2026 med anledning av förslagen i propositionen Ytterligare kompletteringar till bestämmelserna om tilläggsskatt för företag i stora koncerner (prop. 2025/26:22), se dock avsnitt 10.3 om punkt 5 i kommentaren till artikel 9.1.1 i modellreglerna. Administrativa riktlinjer antogs vidare av IF

den 13 januari 2025, 5 januari 2026 och 11 maj 2026. Av propositionen Tilläggsskatt för företag i stora koncerner framgår att vid tillämpningen av bestämmelserna i lagen om tilläggsskatt bör modellreglerna, kommentaren och de administrativa riktlinjerna utgöra en viktig källa för tolkning, i den mån dessa är förenliga med direktivet och unionsrätten (prop. 2023/24:32 s. 128 och 129). Även de kompletterande bestämmelser som föreslås i denna lagrådsremiss bör tolkas mot bakgrund av modellreglerna, kommentaren och de administrativa riktlinjerna. Det är därför viktigt att utforma förslagen så att de ligger så nära de administrativa riktlinjerna och kommentaren som möjligt. Lagen om tilläggsskatt behöver därför kompletteras vad avser riktlinjerna från juni 2024 i den del de inte redan införts. Vidare behöver lagen kompletteras utifrån de administrativa riktlinjerna från januari 2025, januari 2026 och maj 2026. Det krävs däremot inte ytterligare lagstiftning i den mån det som anges i administrativa riktlinjer ryms inom redan införda bestämmelser och det är fråga om förtydliganden och exempel.

Juridiska fakultetsnämnden vid Stockholms universitet anser att det är tveksamt om sida-vid-sida-paketet kan sägas utgöra ett ”kvalificerande internationellt avtal om safe harbour” enligt artikel 32 i direktivet och ifrågasätter, med hänsyn till den likvärdighetsbedömning som ska göras enligt artikel 52, att det är möjligt att avvika så pass mycket från modellreglerna som det görs i sida-vid-sida-paketet. Regeringen konstaterar att kommissionen i ett tillkännagivande den 12 januari 2026 erkänner det avtal om safe harbour, dvs. de administrativa riktlinjerna som IF antog i januari 2026, och bekräftar dess tillämpning inom ramen för direktivet. I direktivet finns safe harbour-regeln i artikel 32. Regeringen anser att det inte finns anledning att ifrågasätta kommissionens bedömning. Vad avser artikel 52 så framgår av den artikeln hur bedömningen av om nationella regler i en stat är likvärdiga med en huvudregel om tilläggsskatt ska göras (jfr 2 kap. 4 § lagen om tilläggsskatt och definitionen av Qualified IIR i artikel 10.1 i modellreglerna). Artikel 52 innebär inte en begränsning vad avser undantag som kan göras i en safe harbour i enlighet med artikel 32.

Skatteverket och FAR anför att det fortfarande saknas en ändamålsenlig mekanism för att lösa tvister. Regeringen konstaterar att arbetet med regler om tvistelösning inte är slutfört i IF och att sådana regler inte omfattas av detta lagstiftningsärende.

6¶De tillfälliga förenklingsreglerna

6.1¶Förlängning av tillämpningen av den tillfälliga förenklingsregeln

Regeringens förslag

Tillämpningen av den tillfälliga förenklingsregeln ska förlängas med ett år och ska omfatta räkenskapsår som börjar före den 1 januari 2028. Räkenskapsår som avslutas efter den 30 juni 2029 ska inte omfattas.

Procentsatsen enligt den tillfälliga förenklingsregeln för beräkning av effektiv skattesats ska vara 17 procent för räkenskapsår som börjar 2027.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR, som yttrar sig särskilt i denna del, tillstyrker förslaget.

Skälen för regeringens förslag

Av 8 kap. 2 § lagen om tilläggsskatt framgår att den s.k. tillfälliga förenklingsregeln gäller för koncernenheter i en stat för tid som motsvarar de räkenskapsår som gäller för enheternas moderföretag och som börjar närmast efter den 31 december 2023, men före den 1 januari 2027. Vidare framgår att förenklingsregeln inte gäller för räkenskapsår som avslutas efter den 30 juni 2028.

Genom avsnitt 3 i de administrativa riktlinjerna från januari 2026, vilket finns infört i avsnitt 1 i annex A i kommentaren till modellreglerna, förlängs den tillfälliga förenklingsregeln med ett år. Den ska således även gälla räkenskapsår som börjar före den 1 januari 2028 och slutar senast den 30 juni 2029. Den procentsats som utgör minimiskattesats vid tillämpningen av det s.k. ETR-testet i 8 kap. 4 § ska vara 17 procent för räkenskapsår som börjar 2027. Det föreslås därför att bestämmelser med denna innebörd förs in i den tillfälliga förenklingsregeln.

Lagförslag

Förslaget medför ändringar i 8 kap. 2 och 4 §§ lagen om tilläggsskatt.

6.2¶Förlängning av övergångsperioden i den tillfälliga förenklingsregeln för kompletteringsregeln för tilläggsskatt

Regeringens förslag

Den tillfälliga förenklingsregeln beträffande kompletteringsregeln för tilläggsskatt ska förlängas så att även räkenskapsår som enligt tillämplig redovisningsstandard är 52 eller 53 veckor är en sådan övergångsperiod som anges i bestämmelsen. Det ska gälla, om räkenskapsåret börjar den 31 december 2025 eller tidigare och slutar före den 4 januari 2027.

Promemorians förslag och bedömning

I promemorian lämnas inget förslag i den här delen. Där görs dock bedömningen att förslaget i promemorian kommer att behöva ändras om IF, till följd av att ett beskattningsår kan vara 52 eller 53 veckor i stället

för 365 dagar, skulle komma att besluta att komplettera riktlinjerna för att även ett sådant räkenskapsår ska omfattas.

Remissinstanserna

Ingen remissinstans kommenterar frågan särskilt.

Skälen för regeringens förslag

Gällande rätt

Enligt 8 kap 14 § lagen om tilläggsskatt ska tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt anses vara noll för den stat där ett moderföretag hör hemma om bolagsskattesatsen i den staten uppgår till minst 20 procent för varje räkenskapsår under en övergångsperiod. Med övergångsperioden avses de räkenskapsår som inte omfattar mer än tolv månader och som börjar den 31 december 2025 eller tidigare och slutar före den 31 december 2026.

Räkenskapsår som är 52 eller 53 veckor ska omfattas av förenklingsregeln

IF antog den 11 maj 2026 administrativa riktlinjer avseende koncerners räkenskapsår som enligt tillämplig redovisningsstandard uppgår till 52– 53 veckor. Riktlinjerna, som finns i avsnitt 4.1 i annex A i kommentaren till modellreglerna, innebär att övergångsperioden i den tillfälliga förenklingsregeln för kompletteringsregeln för tilläggsskatt ska vara de räkenskapsår som inte omfattar mer än tolv månader och som börjar den 31 december 2025 eller tidigare och slutar senast den 3 januari 2027.Regeringen föreslår därför att bestämmelsen i 8 kap. 14 § kompletteras så att även räkenskapsår som enligt tillämplig redovisningsstandard är 52 eller 53 veckor och som börjar den 31 december 2025 eller tidigare och slutar före den 4 januari 2027 är en sådan övergångsperiod som anges i bestämmelsen. Den föreslagna bestämmelsen föreslås ges en något annan utformning än i riktlinjen. I riktlinjen finns en begränsning till att räkenskapsåret inte får vara längre än tolv månader. Ett räkenskapsår som omfattar 53 veckor är emellertid något längre än tolv månader. Eftersom det är helt klart att även sådana räkenskapsår ska omfattas förs begränsningen till tolv månader inte in i lagen. Förslaget innebär att lagen ska omfatta ett räkenskapsår som börjar den 31 december 2025 eller tidigare och slutar före den 4 januari 2027.

Lagförslag

Förslaget medför ändring i 8 kap. 14 § lagen om tilläggsskatt.

7¶Förenklingsregler när moderföretag hör hemma i en stat med ett godkänt parallellt system för minimibeskattning

7.1¶Förenklingsregel avseende huvud- och kompletteringsregeln för tilläggsskatt (Side-by- Side Safe Harbour)

Regeringens förslag

Tilläggsskattebeloppet enligt huvud- och kompletteringsregeln för tilläggsskatt ska anses vara noll för koncernenheter om moderföretaget hör hemma i en stat som är godkänd av IF som en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst. En koncerns andel av ett tilläggsskattebelopp som avser samriskföretag och dotterföretag till samriskföretag ska också anses vara noll om företaget tillhör en koncern vars moderföretag uppfyller dessa villkor.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR tillstyrker förslaget. Juridiska fakultetsnämnden vid Uppsala universitet anför att innebörden av den föreslagna bestämmelsen i 8 kap. 18 a §, till följd av hänvisningen till ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst som är godkänt av IF, kommer att påverkas av framtida beslut i IF och att det vore önskvärt att regeringen förklarar hur överlämnandet av beslutandemakt till IF avseende godkända utländska skattesystem, förhåller sig till riksdagens exklusiva normgivningskompetens inom skatteområdet enligt 8 kap. 2 § första stycket 2 regeringsformen. Skatteverket efterfrågar klargöranden avseende vid vilken tidpunkt samriskföretag och dotterföretag till samriskföretag ska tillhöra en koncern och hur den bedömningen ska göras samt anser att det behöver klargöras hur ägarförändringar under året ska behandlas. Skatteverket framhåller också frågan om hur en koncerns andel av tilläggsskattebeloppet för samriskföretag och dotterföretag till samriskföretag ska beräknas.

Skälen för regeringens förslag

Enligt avsnitt 5.1 i de administrativa riktlinjerna från januari 2026, vilket finns infört i avsnitt 5 i annex A i kommentaren till modellreglerna, får koncerner vars moderföretag hör hemma i en stat med ett godkänt system (Qualified Side-by-Side Regime) välja att tillämpa en förenklingsregel som undantar koncernen samt dess samriskföretag och dotterföretag till samriskföretag, från tillämpning av huvud- och kompletteringsregeln för tilläggsskatt (Side-by-Side Safe Harbour). Regeln påverkar inte möjlig- 24 heten att ta ut nationell tilläggsskatt i en stat. Valet kan göras tidigast för

beskattningsår som börjar den 1 januari 2026. Förenklingsregeln är utformad som ett val som görs av den rapporterande enheten för ett beskattningsår (8 kap. 19 § lagen om tilläggsskatt). Om valet görs ska tilläggsskatten enligt huvud- och kompletteringsregeln som avser koncernenheter i en stat med ett godkänt system sättas ned till noll. Detta gäller även samriskföretag och dotterföretag till samriskföretag.

Uttrycket Qualified Side-by-Side Regime är särskilt definierat och innebär att den aktuella staten ska ha vad som kallas ett godkänt nationellt skattesystem (eligible domestic tax system) och ett godkänt internationellt skattesystem (eligible worldwide tax system), dvs. skatteregler för beskattning av inhemsk och utländsk inkomst som uppfyller särskilt uppställda kriterier. Nämnda regler ska vara införda före den 1 januari 2026, eller vid ett senare datum enligt en särskilt fastställd procedur. Vidare ska den aktuella staten ge avräkning för utländsk nationell tilläggsskatt på samma sätt som vid avräkning av utländsk skatt.

Ett godkänt nationellt skattesystem ska ha en bolagsskattesats som är minst 20 procent efter att allmänt tillämpliga justeringar och lokala skatter beaktats. Vidare ska det finnas en kvalificerad nationell tilläggsskatt (Qualified Domestic Minimum Top Up Tax; QDMTT) eller en alternativ minimiskatt (corporate alternative minimum tax) med justeringar som inte motverkar syftet med minimibeskattning, med en nominell skattesats på minst 15 procent på en betydande del av multinationella koncerners inhemska verksamhet. Systemet ska vidare inte innebära risk för att multinationella koncerners effektiva skattesats understiger 15 procent.

De krav som uppställs i fråga om ett godkänt internationellt skattesystem innebär att systemet ska vara heltäckande. Det betyder att det ska gälla utländsk inkomst för bolag med hemvist i den aktuella staten och tas ut på en bred skattebas som omfattar aktiv och passiv inkomst – oavsett om inkomsten delas ut eller inte – hos såväl fast driftställe som dotterbolag. Eventuell skattefrihet ska vara begränsad och inte strida mot syftet med minimibeskattning. Det ska vidare finnas fungerande unilaterala mekanismer mot skattebaserodering och vinstförflyttning och inte finnas risk för att multinationella koncerners effektiva skattesats understiger 15 procent.

När IF godkänt att en stats skatteregler motsvarar definitionen av Qualified Side-by-Side Regime förs staten in i det register där det framgår vilka staters regler som är godkända av IF (annex B i kommentaren till modellreglerna). Den 5 januari 2026 uppdaterades annex B med ett nytt avsnitt för Qualified SbS Regimes i vilket USA och dess regler (Internal Revenue Code of 1986 (Pub. L. 99–514,100 Stat. 2085, enacted October 22, 1986) anges, tillsammans med informationen att godkännandet gäller för beskattningsår som börjar den 1 januari 2026 eller senare.

Tilläggsskattebeloppet enligt huvud- och kompletteringsregeln för tilläggsskatt ska vara noll för koncernenheter om moderföretaget hör hemma i stat som är godkänd av IF som en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst. En koncerns andel av ett tilläggsskattebelopp som avser samriskföretag och dotterföretag till samriskföretag ska också anses vara noll om företaget tillhör en koncern vars moderföretag uppfyller dessa villkor.

Juridiska fakultetsnämnden vid Uppsala universitet ifrågasätter om den föreslagna bestämmelsen i 8 kap. 18 a § lagen om tilläggsskatt är förenlig 25

med 8 kap. 2 § regeringsformen till följd av hänvisningen till ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst som är godkänt av IF och som kommer att påverkas av framtida beslut i IF. Regeringen konstaterar att det redan i dag finns bestämmelser i lagen om tilläggsskatt som har dylika hänvisningar t.ex. 2 kap 5 a § och 8 kap. 18 §. Lagrådet har i sitt yttrande den 10 september 2024 avseende lagrådsremissen Kompletteringar till bestämmelserna om tilläggsskatt för företag i stora koncerner konstaterat, vad avser 2 kap. 5 a § lagen om tilläggsskatt, att för att säkerställa en korrekt och enhetlig bedömning av staters regelverk kommer IF kontinuerligt att göra en bedömning av om en stats regler uppfyller kraven och därmed kan anses vara kvalificerade. Resultatet av dessa granskningar kommer löpande att offentliggöras. Lagrådet anför vidare att avsikten med paragrafen är att den bedömning som IF gör ska vara bindande vid tillämpningen av lagen om tilläggsskatt och att det får godtas att det på detta sätt överlämnas till ett internationellt organ att avgöra huruvida ett nationellt regelverk är kvalificerat med följd att uttagen skatt ska betraktas som en tilläggsskatt. Vad avser 8 kap 18 § (då 8 kap. 19 §) lagen om tilläggsskatt hänvisade Lagrådet till sin bedömning av 2 kap. 5 a § samma lag. Regeringen konstaterar att Lagrådet funnit att det får godtas att det, på det sätt som görs i 2 kap. 5 a och 8 kap 18 §§ lagen om tilläggsskatt, överlämnas till ett internationellt organ att avgöra om ett nationellt regelverk uppfyller ställda krav och därmed kan anses vara kvalificerat. Regeringen anser därför att föreslagna regleringen i 8 kap. 18 a § lagen om tilläggsskatt får anses vara förenlig med 8 kap. 2 § regeringsformen.

Skatteverket efterfrågar förtydliganden avseende om prövningen av om samriskföretag och dotterföretag till ett samriskföretag tillhör en koncern ska göras vid en viss tidpunkt i fall av ägarförändringar och avseende hur tilläggsskattebelopp ska beräknas i sådana fall. Regeringen anser att detta är frågor som får avgöras i rättstillämpningen då det för närvarande saknas vägledning från IF vad avser dessa frågor.

Mot bakgrund av ovanstående föreslås att det i lagen om tilläggsskatt införs en permanent förenklingsregel för huvud- och kompletteringsregeln för tilläggsskatt som gäller om ett moderföretag hör hemma i stat som är godkänd av IF som en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst (Qualified Side-by-Side Regime). Förenklingsregeln innebär att tilläggsskattebeloppet enligt huvud- och kompletteringsregeln ska sättas ned till noll.

Lagförslag

Förslaget medför ändring i 8 kap. 1 § och införandet av 8 kap. 18 a § lagen om tilläggsskatt.

7.2¶Förenklingsregel avseende kompletteringsregeln för tilläggsskatt (Ultimate Parent Entity Safe Harbour)

Regeringens förslag

Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för enheter och koncernenheter i den stat där ett moderföretag hör hemma, om IF har godkänt den staten som en stat med ett parallellt system för minimibeskattning av inhemsk inkomst.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

Juridiska fakultetsnämnden vid Uppsala universitet anför att innebörden av den föreslagna 8 kap. 18 b § lagen om tilläggsskatt, till följd av hänvisningen till ett parallellt system för minimibeskattning av inhemsk inkomst som är godkänt av IF, kommer att påverkas av framtida beslut i IF och att det vore önskvärt att regeringen i det fortsatta lagstiftningsärendet närmare förklarar hur överlämnandet av beslutandemakt till IF avseende godkända utländska skattesystem, förhåller sig till riksdagens exklusiva normgivningskompetens inom skatteområdet enligt 8 kap. 2 § första stycket 2 regeringsformen. Skatteverket efterfrågar klargöranden avseende hur reglerna i 1 kap. om var koncernenheter och enheter hör hemma ska tillämpas på samriskföretag samt anser att det i fråga om samriskföretag och dotterföretag till samriskföretag bör klargöras att moderföretag i bestämmelsen är moderföretaget i den koncern som ett samriskföretag eller dotterföretag till ett samriskföretag tillhör. Skatteverket tar också upp frågan om hur en koncerns andel av tilläggsskattebeloppet för samriskföretag och dotterföretag till samriskföretag ska beräknas.

Skälen för regeringens förslag

Gällande rätt

I 8 kap. 14 § lagen om tilläggsskatt finns en tillfällig förenklingsregel för kompletteringsregeln för tilläggsskatt som innebär att tilläggsskattebeloppet enligt kompletteringsregeln för koncernenheterna i en stat ska anses vara noll om moderföretaget hör hemma i den staten och bolagsskattesatsen där är minst 20 procent. Bestämmelsen gäller för varje räkenskapsår under en övergångsperiod som utgörs av de räkenskapsår som inte löper längre än tolv månader, som börjar senast den 31 december 2025 och slutar före den 31 december 2026. Den tillfälliga regeln är därmed inte tillämplig för beskattningsår som börjar den 1 januari 2026 eller senare. I avsnitt 6.2 föreslås att bestämmelsen ska ändras så att den i vissa fall är tillämplig även på räkenskapsår som slutar före den 4 januari 2027.

En förenklingsregel för kompletteringsregeln för tilläggsskatt införs Enligt avsnitt 5.2 i de administrativa riktlinjerna från januari 2026 får koncerner vars moderföretag hör hemma i en stat med ett godkänt s.k. UPE- system (Qualified UPE [Ultimate Parent Entity] System) välja att tillämpa en förenklingsregel som innebär att kompletteringsregeln för tilläggsskatt inte ska tillämpas vad avser koncernenheter i den stat där moderföretaget hör hemma (UPE Safe Harbour) för beskattningsår som börjar den 1 januari 2026 eller senare. Riktlinjerna finns införda i avsnitt 5 i annex A i kommentaren till modellreglerna.

En rapporterande enhet får välja att tillämpa förenklingsregeln under ett räkenskapsår. (8 kap. 19 § lagen om tilläggsskatt). Valet kan bara göras om moderföretaget hör hemma i en stat med godkänt UPE-system. Om valet görs ska tilläggsskatt enligt kompletteringsregeln för tilläggsskatt som avser koncernenheter i den stat där moderföretaget hör hemma sättas ned till noll. Även tilläggsskatt enligt kompletteringsregeln för tilläggsskatt som avser koncernens samriskföretag och dotterföretag till samriskföretag i den staten ska i sådant fall sättas ned till noll, vilket följer av att förenklingsregeln utformats så att nedsättning ska ske om koncernenheter i den staten kvalificerar sig enligt regeln (punkt 32, underpunkt 1 i avsnitt 5 i annex A i kommentaren till modellreglerna).

Uttrycket Qualified UPE Regime är särskilt definierat och innebär att det ska finnas ett godkänt nationellt skattesystem med samma innehåll som enligt kraven på Qualified Side-by-Side Regime. Endast system som har antagits och trätt i kraft senast den 1 januari 2026 kan godkännas.

När IF godkänt att en stats skatteregler motsvarar definitionen av Qualified UPE Regime anges staten i det register där det framgår vilka staters regler som är godkända av IF (annex B i kommentaren till modellreglerna). Det är ännu inte någon stats regler som är godkända av IF i detta avseende.

Förenklingsregeln påverkar inte tillämpningen av kompletteringsregeln när moderföretaget hör hemma i en stat vars regler inte godkänts av IF. Tilläggsskatt som avser lågbeskattade koncernenheter som inte hör hemma i en godkänd stat påverkas inte heller.

Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska vara noll för den stat där ett moderföretag hör hemma om den staten är godkänd av IF som en stat med ett parallellt system för minimibeskattning av inhemsk inkomst.

Juridiska fakultetsnämnden vid Uppsala universitet ifrågasätter om den föreslagna bestämmelsen i 8 kap. 18 b § lagen om tilläggsskatt är förenlig med 8 kap. 2 § regeringsformen till följd av hänvisningen till ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst som är godkänt av IF och som kommer att påverkas av framtida beslut i IF. Regeringen konstaterar att Lagrådet funnit att det får godtas att det, på det sätt som görs i 2 kap. 5 a § och 8 kap. 18 § lagen om tilläggsskatt, överlämnas till ett internationellt organ att avgöra om ett nationellt regelverk uppfyller ställda krav och därmed kan anses vara kvalificerat. Regeringen anser därför att föreslagna regleringen i 8 kap. 18 b § lagen om tilläggsskatt får anses vara förenlig med 8 kap. 2 § regeringsformen, se avsnitt 7.1.

Skatteverket efterfrågar förklaringar avseende hur reglerna om var koncernenheter och enheter hör hemma i 1 kap. lagen om tilläggsskatt ska tillämpas på samriskföretag med hänsyn till att dessa är enheter men inte koncernenheter. Regeringen konstaterar att bestämmelserna i 1 kap. 11– 13 §§ lagen om tilläggsskatt gäller för enheter genom hänvisningen i 1 kap. 11 § tredje stycket till dessa bestämmelser samt att även 1 kap. 16 § lagen om tilläggsskatt gäller för enheter.

Skatteverket efterfrågar även förtydliganden avseende om prövningen av om samriskföretag och dotterföretag till ett samriskföretag tillhör en koncern ska göras vid en viss tidpunkt i fall av ägarförändringar och avseende hur tilläggsskattebelopp ska beräknas i sådana fall. Regeringen anser att detta är frågor som får avgöras i rättstillämpningen då det för närvarande saknas vägledning från IF vad avser dessa frågor.

Regeringen föreslår att det i lagen om tilläggsskatt införs en permanent förenklingsregel för kompletteringsregeln för tilläggsskatt som gäller om moderföretaget hör hemma i stat som är godkänd av IF som en stat med ett parallellt system för minimibeskattning av inhemsk inkomst. Förenklingsregeln innebär att tilläggsskattebeloppet ska sättas ned till noll för en sådan stat.

Lagförslag

Förslaget medför ändring i 8 kap. 1 § och införandet av 8 kap. 18 b § lagen om tilläggsskatt.

8¶Kvalificerade skatteincitament (Substance-based Tax Incentive Safe Harbour)

8.1¶Gällande rätt i fråga om skatteincitament i lagen om tilläggsskatt

Skattereduktioner

I många stater finns olika typer av skattereduktioner. Hur dessa behandlas kan ha stor betydelse för utfallet beträffande skyldigheten att betala tilläggsskatt. I lagen om tilläggsskatt används begreppet skattetillgodohavande för att beskriva olika skattereduktioner beträffande medräknade skatter. I lagen definieras fyra olika typer av skattetillgodohavanden: kvalificerade skattetillgodohavanden, marknadsmässigt överlåtbara skattetillgodohavanden, icke marknadsmässigt överlåtbara skattetillgodohavanden och övriga skattetillgodohavanden. Översiktligt gäller följande.

Kvalificerade skattetillgodohavanden (qualified refundable tax credit) är skattetillgodohavanden som kan betalas ut kontant eller på något annat motsvarande sätt om skattekostnaden är mindre än det skattetillgodohavande som beviljats. För att det ska vara fråga om ett kvalificerat till godohavande måste återbetalningen göras inom fyra år. Ekonomiskt sett 29

är sådana skattetillgodohavanden i stort sett likvärdiga med direkta bidrag som en stat betalar ut till företag. På grund av detta ska sådana skattetillgodohavanden inte behandlas som en sänkt skattekostnad utan som en intäkt eller som en minskning av värdet på en tillgång som har förvärvats för tillgodohavandet.

Ett marknadsmässigt överlåtbart skattetillgodohavande (marketable transferable tax credit) har ekonomiskt sett stora likheter med de kvalificerade skattetillgodohavandena. Sådana tillgodohavanden berättigar dock inte till utbetalning av mellanskillnaden om skattekostnaden inte är tillräckligt stor för att absorbera hela skattesänkningen. Däremot kan innehavaren sälja tillgodohavandet till en annan skattskyldig som i sin tur kan få den skattesänkning som den ursprunglige innehavaren inte kunde utnyttja. För att ett skattetillgodohavande ska klassificeras som ett marknadsmässigt överlåtbart skattetillgodohavande ska vissa kriterier om överlåtbarhet och marknadsmässighet vara uppfyllda. Även sådana skattetillgodohavanden ska behandlas som en intäkt eller som en minskning av värdet på en tillgång för den ursprunglige innehavaren av tillgodohavandet. Lagen innehåller också regler om vad som gäller i samband med överlåtelser och för en ny innehavare av tillgodohavandet. En koncernenhet som förvärvar ett marknadsmässigt överlåtbart skattetillgodohavande och utnyttjar det för att minska sin skatt ska ta upp en intäkt som uppgår till skillnaden mellan skatteminskningen och anskaffningsvärdet av den del av tillgodohavandet som utnyttjas.

Ett icke marknadsmässigt överlåtbart skattetillgodohavande är ett tillgodohavande som den ursprunglige innehavaren kan överlåta men inte på sådana villkor att kriteriet om marknadsmässighet är uppfyllt. Om ett skattetillgodohavande innehas av en koncernenhet som har förvärvat det – och det inte är ett marknadsmässigt överlåtbart skattetillgodohavande – är det ett icke marknadsmässigt överlåtbart skattetillgodohavande. Skattetillgodohavanden som varken är kvalificerade skattetillgodohavanden, marknadsmässigt överlåtbara skattetillgodohavanden eller icke marknadsmässigt överlåtbara skattetillgodohavanden klassificeras som övriga skattetillgodohavanden. Icke marknadsmässigt överlåtbara skattetillgodohavanden respektive övriga skattetillgodohavanden ska inte tas upp som intäkt. Förenklat beskrivet ska de i stället behandlas som en sänkt skattekostnad.

I avsnitt 9 föreslås förtydliganden avseende dessa definitioner.

Förhöjt kostnadsavdrag (s.k. superavdrag)

Reglerna om tilläggsskatt bygger till mycket stor del på företagens redovisning. Detta gäller exempelvis hur avskrivningar hanteras. Redovisningsmässigt kan avskrivningsunderlag inte överstiga 100 procent av anskaffningsutgiften. Det förekommer emellertid att stater ger företag stöd i form av möjligheten att skattemässigt skriva av tillgångar med mer än 100 procent, s.k. superavdrag. Översiktligt får detta följande konsekvenser i systemet med tilläggsskatt.

Om koncernenheterna har en skattemässig vinst även efter superavdraget blir den enda påverkan att den effektiva skattesatsen sjunker. Om denna blir lägre än 15 procent måste tilläggsskatt betalas vilket innebär att

värdet av superavdraget minskar i betydelse. Om superavdraget leder till en skattemässig förlust som inte motsvaras av en redovisningsmässig förlust kommer reglerna om tillkommande tilläggsskatt respektive överskjutande skattebelopp (4 kap. 18–19 a §§ lagen om tilläggsskatt) att bli tillämpliga. Tillkommande tilläggsskatt ska tas ut direkt. En koncern kan dock välja att i stället tillämpa reglerna om överskjutande skattebelopp. Då minskar den justerade skattekostnaden under kommande år (vilket i sin tur sänker den effektiva skattesatsen det året).

Den effekt som superavdrag respektive skattetillgodohavanden har för koncerners tilläggsskatt kan minska genom att den överskjutande vinsten minskas med ett substansbelopp enligt 5 kap. 2–11 §§ lagen om tilläggsskatt.

8.2¶Nya regler om substansbaserade skatteincitament

Regeringens förslag

Det ska införas regler om kvalificerade skatteincitament i lagen om tilläggsskatt. Reglerna ska gälla för skatteincitament som är utgiftsbaserade eller produktionsbaserade. En koncern ska få välja att höja den justerade skattekostnaden med skatteeffekten av incitamentet, vilket får till följd att tilläggsskattebeloppet blir lägre. Möjligheten att på detta sätt välja en förmånlig behandling av kvalificerade skatteincitament begränsas av ett takbelopp. Det ska även införas en möjlighet att välja att behandla hela eller delar av ett kvalificerat skattetillgodohavande eller ett marknadsmässigt överlåtbart skattetillgodohavande som ett kvalificerat skatteincitament om skattetillgodohavandet i övrigt uppfyller villkoren för sådana incitament.

Promemorians förslag

Förslaget i promemorian överensstämmer i sak med regeringens. Promemorians förslag har dock en något annan redaktionell utformning.

Remissinstanserna

Skatteverket, FAR och Näringslivets Skattedelegation (till vars yttrande, Fastighetsägarna, Finansbolagens Förening, Svensk Försäkring, Svensk Sjöfart och Svenskt Näringsliv ansluter sig), nedan NSD m.fl. lämnar vissa tekniska synpunkter på lagförslaget och önskar även vissa förtydliganden.

Skälen för regeringens förslag

Reglerna om skattetillgodohavanden finns införda i ett antal artiklar i modellreglerna samt i kommentaren till dessa artiklar. Avsnitt 4 i de administrativa riktlinjerna från januari 2026 behandlar nya regler beträffande substansbaserade skatteincitament. Där har en annan regleringsteknik valts. I stället för att föra in i nya eller befintliga artiklar i modellreglerna eller i kommentaren till vissa artiklar har de nya reglerna

utformats som en förenklingsregel (safe harbour). Riktlinjerna finns införda i avsnitt 2.3 i annex A i kommentaren till modellreglerna.

Vissa substansbaserade skatteincitament ska få öka den justerade

skattekostnaden

Innebörden av den nya förenklingsregeln om substansbaserade skatteincitament är att det blir möjligt för en koncern att behandla vissa substansbaserade skatteincitament som ett tillägg till den justerade skattekostnaden för koncernenheterna i en stat. De incitament som omfattas kallas kvalificerade skatteincitament. Behandlingen begränsas av en takregel som baseras på koncernens lönekostnader eller materiella tillgångar i den aktuella staten. Därigenom ska det säkerställas att incitamentet baseras på substans i den staten. När regeln tillämpas kan koncernen sätta ner tilläggsskattebeloppet för staten till noll i den utsträckning tilläggsskatten motsvaras av skatteeffekten (se nedan) av ett kvalificerat skatteincitament. De nya reglerna ska gälla för räkenskapsår som börjar den 1 januari 2026 eller senare.

Vad som räknas som kvalificerade skatteincitament

Av punkt 3–18 i avsnitt 2.3 i annex A i kommentaren framgår vad som räknas som kvalificerade skatteincitament. För att det ska vara fråga om ett kvalificerat skatteincitament ska incitamentet minska sådana skatter som räknas med vid beräkningen av den justerade skattekostnaden enligt lagen om tilläggsskatt. Beräkningen av incitamentet ska grundas antingen på utgifter som koncernen har haft (utgiftsbaserade incitament) eller på mängden materiella tillgångar som koncernen har producerat i staten (produktionsbaserade incitament). Inkomstbaserade skatteincitament, dvs. sådana incitament som gör att vissa intäkter beskattas lägre än andra, såsom exempelvis s.k. patentboxar, omfattas inte.

Ett utgiftsbaserat incitament ska vara utformat så att en viss andel av de aktuella utgifterna kan omfattas av incitamentet. Det kan ges i olika form, exempelvis som en skattereduktion eller som ett superavdrag (dvs. ett avdrag med mer än 100 procent av utgiften). Den form som incitamentet har spelar ingen roll. Det som är viktigt är i stället att incitamentet baseras direkt på de utgifter som avses. För att det ska klassificeras som ett kvalificerat skatteincitament ska det inte vara fråga om enbart förskjutningar i tiden av ett avdrag. Snabbare avskrivningsplaner än vad som är ekonomiskt motiverat tas nämligen om hand i systemet med tilläggsskatt genom redovisning av uppskjuten skatt. Det får inte heller vara fråga om sådana stöd där skatteeffekten är större än utgiften. Det innebär att exempelvis ett incitament i form av en skattereduktion inte får vara större än 100 procent av utgiften för att det ska klassificeras som ett kvalificerat skatteincitament. Vid bedömningen av om skatteeffekten är större än utgiften ska även skatteeffekten av andra skatteincitament avseende samma utgift räknas med. Med ”skatteincitament” avses här incitament som minskar sådana skatter som räknas med vid beräkningen av den justerade skattekostnaden enligt lagen om tilläggsskatt.

Ett produktionsbaserat incitament är ett incitament som baseras på producerad volym av materiella tillgångar. Incitamentet måste baseras på den producerade volymen och inte på värdet av de producerade till-

gångarna. Även produktion av el och exempelvis utvinning ur gruvor omfattas av begreppet.

Utgiftsbaserade incitament får bara avse utgifter som koncernen har haft och inte sådana som kommer att uppstå någon gång i framtiden. En koncern anses ha haft en utgift vid betalningen eller när utgiften tas med i redovisningen och används vid beräkning av det redovisade resultatet. Det är inte nödvändigt att en förvärvad tillgång har börjat skrivas av eller ens får skrivas av. Produktionsbaserade incitament måste baseras på tillgångar som har producerats vid tiden för beslutet att ge ett skatteincitament.

För att ett incitament ska vara ett kvalificerat skatteincitament måste det vara allmänt tillgängligt för företagen. Det går därför inte att rikta incitamentet särskilt till sådana företag som omfattas av systemet med tilläggsskatt eller till vissa enskilda företag.

Det kan noteras att det finns ett krav på att produktionsbaserade incitament bara får omfatta tillgångar som har tillverkats i staten. Något liknande krav finns däremot inte när det gäller utgiftsbaserade incitament. Sådana incitament kan därför omfatta även utgifter som har uppkommit utomlands.

Behandlingen av kvalificerade skatteincitament

Behandlingen av kvalificerade skatteincitament framgår av punkt 19–29 i avsnitt 2.3 i annex A i kommentaren. Förenklingsregeln för kvalificerade skatteincitament innebär att de sammanlagda justerade skattekostnaderna höjs med ett belopp, vilket får till följd att tilläggsskattebeloppet blir lägre. Höjningen uppgår till det lägsta av skatteeffekten av de kvalificerade skatteincitamenten och ett takbelopp (se nedan).

De kvalificerade skatteincitamenten ingår alltså inte i beräkningen av det justerade resultatet. Detta är en skillnad gentemot kvalificerade skattetillgodohavanden och marknadsmässigt överlåtbara skattetillgodohavanden, vilka behandlas som en intäkt eller som en minskning av värdet på tillgångar. Det innebär att kvalificerade skatteincitament har en förmånligare behandling än vad som gäller för sådana skattetillgodohavanden. Av detta skäl har det införts en rätt för koncerner som har sådana skattetillgodohavanden att i stället använda reglerna för kvalificerade skatteincitament. Ett sådant val gäller i ett år och behöver inte avse alla skattetillgodohavanden som koncernen har. Det kan till och med avse bara en viss del av ett skattetillgodohavande. Rätten att välja förenklingsregeln gäller bara sådana skattetillgodohavanden som också uppfyller definitionen av ett kvalificerat skatteincitament, vilket exempelvis innebär att det måste vara utgiftsbaserat eller produktionsbaserat. Den del av ett skattetillgodohavande som inte omfattas av ett val och därmed inte omfattas av förenklingsregeln ska behandlas enligt de vanliga reglerna för skattetillgodohavanden.

För att tillämpa regeln är det nödvändigt att bestämma skatteeffekten av ett kvalificerat skatteincitament. För incitament som utgörs av skattereduktioner uppgår beloppet till själva skattesänkningen. För incitament som utgörs av förhöjda avdrag eller undantag från inkomstbeskattning beräknas beloppet något förenklat till bolagsskattesatsen multiplicerad med det förhöjda avdraget eller inkomsten. Om ett incitament innebär att koncernen får göra ett extra avdrag med exempelvis

50 procent (dvs. ett totalt avdrag med 150 procent) uppgår skatteeffekten till 50 procent av utgiften multiplicerad med bolagsskattesatsen. Värdet beräknas för det år som avdraget yrkas. Om superavdraget medför en skattemässig förlust som inte motsvaras av en redovisningsmässig förlust ska normalt sett tillkommande eller överskjutande skattebelopp beräknas (se avsnitt 8.1). Detta kommer dock inte att gälla till den del ett kvalificerat skatteincitament utnyttjas. Den del av ett kvalificerat skatteincitament som utnyttjas höjer nämligen de sammanlagda justerade skattekostnaderna för koncernenheterna i en stat, vilket kommer att reducera tillkommande eller överskjutande skattebelopp i motsvarande mån.

Skatteverket, FAR och NSD m.fl. anser att den föreslagna lagtexten beträffande skatteeffekten av skattereduktioner är felaktig. Enligt den föreslagna lagtexten (4 kap. 17 c § 1 lagen om tilläggsskatt) är skatteeffekten ”den minskning av medräknade skatter som har redovisats för ett räkenskapsår på grund av ett utnyttjat skatteincitament i form av en skattereduktion”. Remissinstanserna invänder mot att bestämmelsen knyts till redovisningen av skatteminskningen i stället för till den skatteminskning som rent faktiskt har erhållits för räkenskapsåret, oavsett hur denna har redovisats (punkt 4 och 5 i box 2.3 i kommentaren). Regeringen delar remissinstansernas uppfattning och föreslår att lagtexten justeras så att detta framgår.

Skatteverket framför också att bestämmelsen i 4 kap. 17 c § 2 lagen om tilläggsskatt om skatteeffekten av superavdrag inte bara ska omfatta det belopp som överstiger 100 procent av en utgift multiplicerad med bolagsskattesatsen utan även skatteeffekten av en kostnad som annars inte hade varit avdragsgill enligt nationell skattelagstiftning. Regeringen delar Skatteverkets uppfattning och föreslår att lagtexten justeras så att detta framgår.

Slutligen anför Skatteverket att det måste klargöras att skatteeffekten av skattefria eller lågbeskattade inkomster bara avser inkomster som är kopplade till sådana utgifter som ger upphov till ett utgiftsbaserat skatteincitament (income attributable to eligible expenditure, punkt 5 iii i box 2.3). Regeringen delar Skatteverkets uppfattning att det är så de föreslagna bestämmelserna i 4 kap. 17 c § 3 och 4 lagen om tilläggsskatt ska förstås. Förslaget omfattar skatteeffekter av kvalificerade skatteincitament vilka definieras i 4 kap. 17 b § lagen om tilläggsskatt. För att det ska bli aktuellt att beräkna skatteeffekten av en skattefri eller lågbeskattad inkomst måste det alltså vara fråga om ett kvalificerat skatteincitament där inkomsten måste vara kopplad till en utgift som ger upphov till ett kvalificerat skatteincitament och inte vilken skattefri eller lågbeskattad inkomst som helst.

Takbelopp

Den möjlighet att få en förmånlig behandling av kvalificerade skatteincitament som beskrivits ovan begränsas av ett takbelopp (punkt 30–33 i avsnitt 2.3 i annex A i kommentaren). Syftet med takbeloppet är att säkerställa att sådana incitament som har en förmånlig behandling motsvaras av substans i staten. Substansen definieras utifrån samma parametrar som används för att beräkna det s.k. substansbeloppet enligt 5 kap. lagen om tilläggsskatt.

Takbeloppet kan beräknas enligt två alternativa regler, huvudregeln och alternativregeln. Huvudregeln består i sin tur av två alternativa regler. Huvudregeln baseras på olika kostnadsposter medan alternativregeln baseras på balansräkningsposter.

Enligt huvudregeln är takbeloppet 5,5 procent av det högsta av personalkostnaderna i staten och kostnaderna för avskrivning på materiella tillgångar i staten. Som materiella tillgångar räknas också sådana tillgångar som enligt 5 kap. 4 § lagen om tilläggsskatt ska behandlas som materiella tillgångar (naturresurser, leasetagares nyttjanderättigheter och licenser). Personalkostnaderna får inkludera sådana kostnader som har lagts till balansvärdet på tillgångar trots att sådana kostnader inte får ingå vid beräkningen av substansbeloppet enligt 5 kap. 3 § andra stycket 1 lagen om tilläggsskatt. Avskrivning på sådana tillgångar som avses i 5 kap. 4 a § lagen om tilläggsskatt (dvs. materiella anläggningstillgångar som innehas för försäljning, leasing eller investering eller som omfattas av undantaget för sjöfartsverksamhet) ingår inte i underlaget.

Enligt alternativregeln är takbeloppet i stället 1 procent av det redovisade värdet på materiella tillgångar i den aktuella staten. Mark och andra tillgångar som inte får skrivas av samt sådana tillgångar som avses i 5 kap. 4 a § lagen om tilläggsskatt ingår inte i underlaget. Om koncernen väljer att tillämpa denna regel så gäller detta val i fem år. Om valet inte återkallas efter fem år fortsätter det att gälla. Om valet återkallas någon gång efter femårsperioden och koncernen i stället tillämpar huvudregeln får avskrivningar på sådana tillgångar som har ingått i beräkningen enligt alternativregeln inte ingå i de avskrivningar som ligger till grund för beräkningen av takbeloppet.

Skatteverket efterfrågar en förklaring till hur det femåriga valet förhåller sig till det ettåriga val som en koncern kan göra när det gäller att tillämpa reglerna om kvalificerade skatteincitament i stället för reglerna om kvalificerade skattetillgodohavanden eller marknadsmässigt överlåtbara skattetillgodohavanden. Alternativregeln reglerar endast hur takbeloppet ska beräknas år för år. Om en koncern väljer att tillämpa alternativregeln måste den tillämpas i fem år. Detta innebär dock inte att även regeln om att behandla kvalificerade skattetillgodohavanden och marknadsmässigt överlåtbara skattetillgodohavanden som kvalificerade skatteincitament måste användas i fem år. För den regeln gäller att en koncern årligen kan bestämma att behandla eller inte behandla sådana skattetillgodohavanden som kvalificerade skatteincitament.

Den lagtekniska utformningen

IF har utformat de nya reglerna om substansbaserade skatteincitament som en förenklingsregel. Denna förenklingsregel skiljer sig dock åt från vad som gäller för övriga förenklingsregler. Övriga förenklingsregler innebär att tilläggsskattebeloppet för samtliga eller vissa koncernenheter i en stat i sin helhet ska anses vara noll. Den nu aktuella förenklingsregeln innebär att tilläggsskatten inte sätts ner till noll i sin helhet utan bara till den del den motsvaras av ett kvalificerat skatteincitament. Detta gör att de nya reglerna systematiskt inte passar in tillsammans med övriga förenklingsregler i 8 kap. lagen om tilläggsskatt.

Innebörden av de nya reglerna är att det blir möjligt för en koncern att behandla allmänt tillgängliga, utgifts- eller produktionsbaserade skatteincitament som ett tillägg till den justerade skattekostnaden för koncernenheterna i en stat. Även kvalificerade skattetillgodohavanden och marknadsmässigt överlåtbara skattetillgodohavanden kan behandlas på samma sätt om de uppfyller kraven på att vara allmänt tillgängliga och utgifts- eller produktionsbaserade. Om skattekostnaden höjs så minskar tilläggsskatten, dvs. sätts ner till noll, i motsvarande mån. Den avsedda effekten uppnås därför om reglerna formuleras som en möjlighet att välja att höja skattekostnaden. Systematiskt passar sådana regler bättre in i 4 kap. lagen om tilläggsskatt än i 8 kap.

Lagförslag

Förslaget medför ändringar i 2 kap. 1 § och 4 kap. 1 § och införandet av 4 kap. 17 a–17 d §§ lagen om tilläggsskatt.

9¶Skattetillgodohavanden

Regeringens förslag

Det ska införas en definition av skattetillgodohavanden som innebär att med skattetillgodohavande avses ett tillgodohavande som ger innehavaren rätt att minska kostnaden för medräknade skatter i den stat som beviljar tillgodohavandet. Detta medför även följdändringar i definitionen av marknadsmässigt överlåtbart skattetillgodohavande och övrigt skattetillgodohavande.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR tillstyrker förslaget. Näringslivets Skattedelegation (till vars yttrande Fastighetsägarna, Finansbolagens Förening, Svensk Försäkring, Svensk Sjöfart och Svensk Näringsliv ansluter sig), nedan NSD m.fl. anför att innebörden av uttrycket ”rätt att minska kostnaden för medräknade skatter” i den föreslagna definitionen av skattetillgodohavande är oklar. Det behöver klargöras att innebörden är en minskad skyldighet att betala medräknade skatter i jurisdiktionen.

Skälen för regeringens förslag

Gällande rätt

I 2 kap. 29–30 §§ lagen om tilläggsskatt används uttrycket skattetillgodohavande för att beskriva olika skattereduktioner. I lagen definieras fyra olika typer av skattetillgodohavanden: kvalificerade skattetillgodohavanden, marknadsmässigt överlåtbara skattetillgodohavanden, icke

marknadsmässigt överlåtbara skattetillgodohavanden och övriga skattetillgodohavanden. I 2 kap. 29 § första stycket lagen om tilläggsskatt finns en definition av kvalificerat skattetillgodohavande som något förenklat innebär att med kvalificerat skattetillgodohavande avses

ett anspråk på återbetalning (skattetillgodohavande) som är utformat på

ett sådant sätt att det ska betalas kontant eller på något motsvarande sätt

till en koncernenhet inom fyra år från den dag då koncernenheten har

rätt att erhålla betalningen enligt lagstiftningen i den stat som beviljar

detta,

Uttrycket kvalificerat skattetillgodohavande motsvaras i modellreglerna av Qualified Refundable Tax Credit. Enligt artikel 10.1 avses

a refundable tax credit designed in a way such that it must be paid as

cash or available as cash equivalents within four years from when a

Constituent Entity satisfies the conditions for receiving the credit under

the laws of the jurisdiction granting the credit.

Detta motsvarar lydelsen i lagen om tilläggsskatt med undantag för att den grundläggande förutsättningen att det ska vara en skattereduktion (tax credit) inte har tagits in i den svenska definitionen. Av lydelsen i 2 kap. 29 § andra stycket lagen om tilläggsskatt kan man förledas att tro att det är anspråket på återbetalning som är skattetillgodohavandet eftersom skattereduktion inte nämns. Av såväl förarbeten (exempelvis prop. 2024/25:7 s. 91) som modellreglerna med kommentarer är det helt klart att det som avses är skattereduktioner och dessutom sådana skattereduktioner som avser medräknade skatter. Bristen i lagtexten synes därför bero på ett förbiseende. Eftersom förarbeten och modellreglerna är helt klara är det inte troligt att bristen i lagtexten skulle medföra några praktiska problem vid tillämpningen av lagen men lagtexten bör ändå enligt regeringen justeras så att den faktiska innebörden av regeln tydligt framgår.

Uttrycket skattetillgodohavande definieras

Det införs en definition av uttrycket skattetillgodohavande. Ett skattetillgodohavande är ett tillgodohavande som ger innehavaren rätt att minska kostnaden avseende medräknade skatter i den stat som beviljar tillgodohavandet. Denna definition av skattetillgodohavande används sedan i en ny utformning av definitionen av begreppen kvalificerade skattetillgodohavanden, marknadsmässigt överlåtbara skattetillgodohavanden och övriga skattetillgodohavanden. Begreppet skattetillgodohavande används redan i definitionen av icke marknadsmässigt överlåtbara skattetillgodohavanden så den definitionen behöver inte ändras. När det gäller vad NSD m.fl. anför om uttrycket ”rätt att minska kostnaden för medräknade skatter” i den föreslagna definitionen, instämmer regeringen i bedömningen att bestämmelsen är oklar. Det föreslås därför att förslaget justeras i enlighet med vad NSD m.fl. föreslår.

Lagförslag

Förslaget medför ändring i 2 kap. 1, 29, 29 a och 30 §§ lagen om tilläggsskatt.

10¶Uppskjuten skatt vid övergången till systemet

10.1 Förtydligande avseende vissa uppskjutna skattefordringar och uppskjutna skatteskulder som uppkommit före övergångsåret

Regeringens förslag

Vid fastställande av den effektiva skattesatsen för koncernenheter i en stat för ett övergångsår ska vissa uppskjutna skattefordringar och uppskjutna skatteskulder undantas.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

Skatteverket föreslår en delvis annan teknisk utformning för att närmare följa de administrativa riktlinjerna samt anför att bestämmelser avseende beskattningsåren 2024–2026 bör övervägas. Enligt FAR får det anses tveksamt om förslaget, som är betungande för de skattskyldiga, har stöd i modellreglerna eller EU-direktivet och bristande rättsligt stöd för en utvidgning av tillämpningsområdet genom administrativa riktlinjer kan få både konstitutionella och EU-rättsliga konsekvenser, till exempel genom att regeln förklaras ogiltig. FAR påtalar att lagtexten bygger på en exemplifiering hämtad från punkt 8.5 i riktlinjerna, medan regeln återfinns i punkt 8.3 och 8.4, vilken begränsar tillämpningsområdet genom att utesluta skattelättnader som inte är beroende av en myndighets skönsmässiga bedömning. Enligt FAR:s uppfattning innebär punkt 8.4 för svenskt vidkommande exempelvis att en uppskjuten skattefordran i form av ett underskottsavdrag som uppstår genom en omprövning i efterhand avseende direktavdrag för reparationer på byggnad inte ska omfattas av begränsningen. Innehållet i punkt 8.4 återspeglas dock inte i den föreslagna lagtexten och FAR föreslår därför att föreslagna 4 kap. 27 § tredje stycket lagen om tilläggsskatt arbetas om eller kompletteras för att i stället återspegla punkterna 8.3 och 8.4 i riktlinjerna

Skälen för regeringens förslag

Gällande rätt

Av bestämmelserna i 4 kap. 25–28 b §§ lagen om tilläggsskatt framgår hur uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar ska hanteras vid övergången till systemet. Av 4 kap. 25 § lagen om tilläggsskatt (artikel 9.1.1 i modellreglerna) framgår att vid fastställande av den effektiva skattesatsen för koncernenheter i en stat för det som enligt 26 § utgör ett övergångsår och för varje därpå följande räkenskapsår ska alla de uppskjutna skattefordringar och uppskjutna skatteskulder som återspeglas eller redovisas i alla koncernenheters räkenskaper

i en stat beaktas för övergångsåret. I avsnitt 10.2 föreslås att bestämmelsen om övergångsår i 4 kap. 26 § lagen om tilläggsskatt ska ändras så att det framgår att med övergångsår för en stat avses det första räkenskapsår då en koncern omfattas av lagens tillämpningsområde vad avser den staten. Av 4 kap. 27 § andra stycket lagen om tilläggsskatt (artikel 9.1.2 i modellreglerna) framgår att fordringar avseende uppskjuten skatt som härrör från sådana poster som enligt 3 kap. samma lag inte ska ingå vid beräkningen av det justerade resultatet ska undantas från den beräkning som avses i 4 kap. 25 § lagen om tilläggsskatt när fordringarna uppkommer i en transaktion som har ägt rum efter den 30 november 2021. Motsvarande reglering till artikel 9.1 i modellreglerna finns i artikel 47 i minimibeskattningsdirektivet.

Uppskjutna skattefordringar och uppskjutna skatteskulder som inte ska

tas med vid övergången till systemet

Artikel 9.1 i modellreglerna (4 kap. 25–28 b §§ lagen om tilläggsskatt) innehåller övergångsregler som ska förenkla övergången till systemet. Reglerna avser bl.a. behandlingen av uppskjutna skatter som gäller när en multinationell koncern börjar omfattas av modellreglernas tillämpningsområde och för varje därpå följande räkenskapsår.

I de administrativa riktlinjerna från den 13 januari 2025 klargörs hur övergångsreglerna i artikel 9.1 ska tolkas och tillämpas vid övergången till systemet. Av riktlinjerna framgår att vissa multinationella koncerner, efter den 30 november 2021, har ingått överenskommelser med myndigheterna i en stat som gett koncernenheterna som hör hemma i den staten olika skatteförmåner innan tilläggsskattereglerna (huvudregeln och kompletteringsregeln) eller regeln om nationell tilläggsskatt trädde i kraft i den staten. De multinationella koncerner som har erhållit dessa skatteförmåner har redovisat dem som uppskjutna skattefordringar och de kan ha som avsikt att beakta fordringarna vid tillämpningen av övergångsreglerna för uppskjutna skattefordringar och skatteskulder i artikel 9.1 (punkt 2 i riktlinjerna). Mot bakgrund av detta har IF antagit riktlinjerna för att ytterligare klargöra hur övergångsreglerna i artikel 9.1 ska tillämpas, speciellt när det gäller uppskjutna skattefordringar som har uppstått till följd av skatteförmåner som beviljas av en stat efter den 30 november 2021. Av riktlinjerna framgår att uppskjutna skattekostnader som härrör från återföring av uppskjutna skattefordringar som har uppstått innan tilläggskattereglerna träder i kraft men efter den 30 november 2021 och som härrör från överenskommelser med myndigheterna i en stat undantas vid övergången till systemet enligt övergångsreglerna i artikel 9.1. Detsamma gäller uppskjutna skattefordringar och uppskjutna skatteskulder som uppstår till följd av att koncernenheter får göra en skattemässig uppskrivning av tillgångars värde så att det skattemässiga värdet överstiger det redovisade värdet. när en stat har infört ett bolagsskattesystem. Det gäller även uppskjutna skattefordringar som uppstår på grund av att koncernenheter i en stat får göra eller ändra ett val med retroaktiv verkan (punkt 3 i riktlinjerna).

I punkt 8.5 a–c i kommentaren till artikel 9.1.2 specificeras vilka uppskjutna skattefordringar och uppskjutna skatteskulder (tax attributes) som inte får tas med i beräkningen enligt artikel 9.1.1. Det är följande:

a. Uppskjutna skattefordringar som har uppstått på grund av att en

överenskommelse med myndigheter i en stat har ingåtts eller

ändrats efter den 30 november 2021, när överenskommelsen ger

den skattskyldige skatteförmåner i form av skattereduktioner

eller andra skattelättnader som inte hade uppstått utan en sådan

överenskommelse.

b. Uppskjutna skattefordringar som uppstått till följd av att en

koncernenhet efter den 30 november 2021 gjort eller ändrat ett

val och därigenom retroaktivt ändrar behandlingen av en

transaktion som har ingått i beräkningen av koncernenhetens

beskattningsbara inkomst ett tidigare beskattningsår och som har

fastställts av skattemyndigheten eller som framgått av en

inlämnad deklaration avseende bolagsskatt.

c. Uppskjutna skattefordringar eller uppskjutna skatteskulder som

uppstått till följd av att koncerner har fått använda ett högre

skattemässigt värde än det bokförda värdet på tillgångar vid

övergången till systemet när en stat infört bolagsskatt efter den

30 november 2021, men före övergångsåret.

I riktlinjerna erinras om att avsikten med övergångsbestämmelserna i artikel 9.1 inte är att ge koncerner eller myndigheter verktyg för att genomföra transaktioner som tillskapar uppskjutna skattefordringar som, när de återförs, i praktiken helt eller delvis undantar en koncerns framtida lågbeskattade inkomster från tilläggsskatt. De skatteförmåner som uppstått i de tre ovannämnda fallen i punkt 8.5 a–8.5 c omfattas inte av beräkningen enligt artikel 9.1.1, utan de ska undantas enligt artikel 9.1.2 i modellreglerna (punkt 4 i kommentaren till artikel 9.1 i modellreglerna och punkt 8.5 i kommentaren till artikel 9.1.2 i modellreglerna).

Artikel 9.1.2 är tillämplig på alla uppskjutna skattefordringar som har uppstått i transaktioner efter den 30 november 2021. Artikeln blir därför tillämplig även på en uppskjuten skattefordran som uppstår till följd av en transaktion som äger rum efter övergångsåret, om fordran redovisas eller återspeglas i räkenskaperna för en koncernenhet för övergångsåret (punkt 8.2 i kommentaren till artikel 9.1.2 i modellreglerna).

En kostnad avseende uppskjuten skatt som hänför sig till återföringen av en uppskjuten skattefordran som beskrivs i de ovan angivna tre fallen i punkt 8.5 a–8.5 c ska inte tas med vid beräkningen av det uppskjutna skattejusteringsbeloppet enligt artikel 4.4 (3 kap. 30–34 d §§ lagen om tilläggsskatt) och inte heller räknas som skattekostnad enligt 8 kap. 4 § andra stycket lagen om tilläggsskatt vid tillämpning av den tillfälliga förenklingsregeln (punkt 8.6 i kommentaren till artikel 9.1.2 i modellreglerna).

Artikel 9.1.2 ska tillämpas så att en uppskjuten skattefordran hänförlig till en förlust som uppstod mer än fem räkenskapsår före ikraftträdandet av ett nytt bolagsskattesystem i en stat som tidigare inte hade något sådant system undantas från beräkningen enligt artikel 9.1.1. Uppskjutna skattefordringar som avser förluster som uppkommit mindre än fem år innan ett nytt bolagsskattesystem införts får i princip föras in i systemet. Artikel 9.1.2 ska emellertid tillämpas även på sådana uppskjutna skatte- 40 fordringar på samma sätt som för en uppskjuten skattefordran som uppstår

till följd av en förlust enligt ett befintligt bolagsskattesystem (punkt 8.7 i kommentaren till artikel 9.1.2 i modellreglerna).

Regeringen konstaterar att riktlinjerna har antagits av IF för att klargöra hur artikel 9.1 i modellreglerna, som har införts i bl.a. 4 kap. 25 och 27 §§ lagen om tilläggsskatt, ska tolkas vad avser behandlingen av vissa skatteförmåner vid övergången till systemet. Utgångspunkten är således att sådana skatteförmåner som identifierats av IF och som redogörs för i det ovanstående inte alls ska beaktas vid beräkningen av den effektiva skattesatsen för koncernenheterna i en stat för ett övergångsår och för varje därpå följande räkenskapsår när en koncern övergår till systemet med tilläggsskatt. För att lagen ska överensstämma med riktlinjerna behöver det därför enligt regeringen införas bestämmelser i 4 kap. 27 § lagen om tilläggsskatt om att sådana uppskjutna skattefordringar och uppskjutna skatteskulder som nämns i punkterna 8.5 a–8.5 c och 8.7 ska undantas vid fastställandet av den effektiva skattesatsen i enlighet med 25 §. Enligt riktlinjerna ska reglerna gälla redan fr.o.m. 2024, dvs. det första år som systemet med tilläggsskatt tillämpas på. Mot bakgrund av förbudet mot retroaktiv skattelagstiftning till den enskildes nackdel i 2 kap. 10 § regeringsformen är det inte möjligt att ändra vilka värden som får användas som ingående balans vid beskattningen för ett redan avslutat eller påbörjat beskattningsår när detta är till den skattskyldiges nackdel. Därför föreslår regeringen i avsnitt 13 att bestämmelserna ska träda i kraft den 1 januari 2027 och tillämpas på beskattningsår som börjar närmast efter den 31 december 2026 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2026. Det innebär att för räkenskapsår som börjar efter detta datum får sådana fordringar och skulder inte räknas med.

Av punkt 8.8 i kommentaren till artikel 9.1.2 i modellreglerna framgår att en del uppskjutna skattekostnader som hänför sig till återföringen av en uppskjuten skattefordran ska få beaktas vid beräkningen av dels det uppskjutna skattejusteringsbeloppet enligt artikel 4.4 (3 kap. 30–36 §§ lagen om tilläggsskatt), dels skattekostnaden enligt den tillfälliga förenklingsregeln (8 kap. 4 § andra stycket lagen om tilläggsskatt) vad avser:

1. återföring av en uppskjuten skattefordran som avses i punkt 8.5 a och

8.5 b i kommentaren till artikel 9.1.2 i modellreglerna för räkenskapsår

som börjar under 2024 och 2025 och som slutar före den 1 juli 2027,

och 2. återföring av en uppskjuten skattefordran som avses i punkt 8.5 c i

kommentaren till artikel 9.1.2 i modellreglerna för räkenskapsår som

börjar under 2025 och 2026 och som slutar före den 1 juli 2028.

Det högsta belopp som får beaktas i dessa fall är ett belopp som motsvarar 20 procent av summan av de uppskjutna skattefordringarna (punkt 8.9 i kommentaren till artikel 9.1.2 i modellreglerna). Dessa bestämmelser omfattar endast beskattningsåren 2024–2026. Mot bakgrund av att de ändringar som föreslås i 4 kap. 27 § lagen om tilläggsskatt inte ska gälla för beskattningsåren 2024–2026 behöver det enligt regeringen inte införas några bestämmelser i lagen om tilläggsskatt som motsvarar punkt 8.8–8.12 i kommentaren till artikel 9.1.2.

FAR anser att det får anses tveksamt om förslaget, som är betungande för de skattskyldiga, har stöd i modellreglerna eller EU-direktivet. Regeringen konstaterar att kommissionen den 30 september 2025 uttalat att den anser att de administrativa riktlinjerna från januari 2025 är förenliga med direktivet. Regeringen bedömer att det är möjligt att komplettera lagen om tilläggsskatt så länge som kompletterande bestämmelser inte står i strid med minimibeskattningsdirektivet. Vidare har FAR anfört att punkt 8.3 och 8.4, begränsar tillämpningsområdet för bestämmelserna genom att utesluta skattelättnader som inte är beroende av myndigheter (General Governments). Regeringen delar inte denna bedömning utan anser att punkt 8.5 b och 8.5 c inte är begränsade till överenskommelser med myndigheterna i en stat. Det ska således införas bestämmelser i lagen om tilläggsskatt i enlighet med förslagen i promemorian.

Skatteverket anser att det av de administrativa riktlinjerna framgår att 4 kap. 27 § tredje stycket 3 ska omfatta situationen när det föreligger en skillnad mellan det skattemässiga värdet av en tillgång och skuld. Regeringen instämmer i denna bedömning och bestämmelsen förtydligas med anledning av vad Skatteverket anför.

Skatteverket anser vidare att tidsbegränsade regler som motsvarar punkt 8.8–8.12 i kommentaren till artikel 9.1.2 bör införas i lagen om tilläggsskatt. Regeringen konstaterar att enligt dessa punkter får de multinationella koncerner som har ingått överenskommelser med myndigheterna i en stat endast ta upp 20 procent av summan av de uppskjutna skattefordringarna. De föreslagna bestämmelserna hindrar inte att en koncern tar upp en mindre del av sina skattefordringar under beskattningsåren 2024 till 2026. För senare beskattningsår får dock inte sådana skattefordringar tas upp över huvud taget.

Lagförslag

Förslaget medför ändringar i 4 kap. 27 § och 8 kap. 4 § lagen om tilläggsskatt.

10.2¶Övergångsår

Regeringens förslag

När reglerna om uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar vid övergången till systemet tillämpas ska övergångsåret för en stat vara det första räkenskapsår då en koncern omfattas av lagens tillämpningsområde i fråga om den staten.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR, som yttrar sig särskilt i denna del, tillstyrker förslaget. Skatteverket anser att definitionen av övergångsår bör ges en annan lagteknisk utformning för att fungera i alla situationer.

Skälen för regeringens förslag

Gällande rätt

I 4 kap. 25–25 c och 27–28 b §§ lagen om tilläggsskatt finns bestämmelser om hur uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar ska beaktas vid övergången till systemet. Enligt 4 kap. 26 § lagen om tilläggsskatt avses med övergångsår för en stat det första räkenskapsår då en koncernenhet omfattas av en lagstiftning som är likvärdig med och administreras på ett sätt som är förenligt med antingen bestämmelserna i rådets direktiv 2022/2523, i den ursprungliga lydelsen, eller när det gäller en stat utanför Europeiska unionen, modellreglerna.

Definitionen av övergångsår finns i artikel 47.1 i minimibeskattningsdirektivet och artikel 10.1.1 i modellreglerna.

Definitionen av övergångsår ska ändras

I artikel 47.1 i direktivet definieras uttrycket övergångsår för en stat som det första räkenskapsår under vilket en koncern omfattas av direktivets tillämpningsområde med avseende på den staten. I modellreglerna avses med övergångsår för en stat det första året en koncern omfattas av regler om global minimibeskattning i fråga om den staten (Transition Year, for a jurisdiction, means the first Fiscal Year that the MNE Group comes within the scope of the GloBE Rules in respect of that jurisdiction). Av punkt 7 i kommentaren till artikel 9.1.1 framgår att övergångsåret bestäms stat för stat och att definitionen är utformad så att övergångsåret för en koncern för en viss stat kan inträda till följd av minimibeskattningsregler i en annan stat.

Den nuvarande utformningen av bestämmelsen i 4 kap. 26 § lagen om tilläggsskatt leder till oklarheter pga. hänvisningarna till en stats lagstiftning som är likvärdig med och administreras på ett sätt som är förenligt med direktivet, eller, när det gäller en stat utanför Europeiska unionen, modellreglerna. Att övergångsåret på detta sätt ska avgöras av om lagstiftning gäller i en stat innebär t.ex. att en koncern inte har ett övergångsår i fråga om en stat där koncernenheter hör hemma om den staten inte infört direktivet eller regler motsvarande modellreglerna. Det är inte så bestämmelsen är avsedd att fungera och dess utformning behöver därför justeras i linje med hur övergångsår definieras i direktivet och modellreglerna. Vad som är övergångsår ska enligt såväl modellreglerna som direktivet avgöras av vilket år som är det första räkenskapsår då en koncern omfattas av regler om minimibeskattning i fråga om en stat.

Några exempel kan illustrera. För en koncern som omfattas av lagens tillämpningsområde för räkenskapsåret 2024 är övergångsåret 2024 avseende alla stater där det finns koncernenheter som hör hemma. Om en multinationell koncern med ett svenskt moderföretag har koncernenheter i tio andra stater så är övergångsåret 2024 (dvs. det år lagen om tilläggsskatt trädde i kraft) för koncernenheterna i de tio staterna. För en koncern som omfattas av lagens tillämpningsområde för räkenskapsåret 2024 och som etablerar koncernenheter i en viss stat först 2026 är övergångsåret 2026 för den staten eftersom det är först det året som koncernen omfattas av lagens tillämpningsområde med avseende på den staten. Ett annat exempel är en koncern som omfattas av lagens tillämpningsområde först för räkenskaps- 43

året 2026 till följd av att koncernen först då har en årlig intäkt på minst 750 miljoner euro på det sätt som anges i 1 kap. 3 § lagen om tilläggsskatt. Övergångsåret blir i detta fall tidigast räkenskapsåret 2026 och kommer även i denna situation att i det enskilda fallet avgöras stat för stat beroende av om det ett år finns koncernenheter som hör hemma i en viss stat eller inte.

För att definitionen av övergångsår i 4 kap. 26 § lagen om tilläggsskatt ska överensstämma med motsvarande definition i direktivet och modellreglerna föreslås därför att definitionen ändras så att med övergångsår för en stat avses det första räkenskapsår då en koncern omfattas av lagen om tilläggsskatt vad avser den staten.

Skatteverket anser att det är olämpligt att knyta övergångsåret till lagens tillämpningsområde och anför att definitionen av övergångsår bör utgå från det första räkenskapsår då en koncern omfattas av en huvud- eller kompletteringsregel för tilläggsskatt vad avser en stat. Regeringen anser att definitionen av övergångsår bör följa definitionen i direktivet och modellreglerna samt även fungera i fråga om nationell tilläggsskatt. Förslaget bör därför inte ändras på det sätt som Skatteverket föreslår.

Lagförslag

Förslaget medför ändring i 4 kap. 26 § lagen om tilläggsskatt.

10.3¶Uppskjuten skatt enligt vissa system för beskattning av kontrollerade utländska företag

Regeringens förslag

Vid fastställande av den effektiva skattesatsen för koncernenheter i en stat vid övergången till systemet ska uppskjutna skattefordringar och uppskjutna skatteskulder i vissa fall inte beaktas om de avser skatt enligt ett system för beskattning av kontrollerade utländska företag. Detta ska gälla om skatten beräknas gemensamt för sådana företag i ett sådant system.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR, som yttrar sig särskilt i denna del, tillstyrker förslaget.

Skälen för regeringens förslag

Gällande rätt

Av 4 kap. 25 § lagen om tilläggsskatt (artikel 9.1.1 i modellreglerna och artikel 47.2 i minimibeskattningsdirektivet) framgår att vid fastställande av den effektiva skattesatsen för koncernenheter i en stat för ett övergångsår enligt 4 kap. 26 § samma lag och för varje därpå följande räkenskapsår ska alla de uppskjutna skattefordringar och uppskjutna

skatteskulder som återspeglas eller redovisas i alla koncernenheters räkenskaper i en stat beaktas för övergångsåret. I avsnitt 10.2 föreslås att bestämmelsen om övergångsår i 4 kap. 26 § lagen om tilläggsskatt ska ändras så att det framgår att med övergångsår för en stat avses det första räkenskapsår då en koncern omfattas av lagens tillämpningsområde vad avser den staten.

Uppskjuten skatt ska inte beaktas om den har uppkommit enligt vissa

system för beskattning av kontrollerade utländska företag

I punkt 5 i kommentaren till artikel 9.1.1 i modellreglerna, vilken motsvaras av 4 kap. 25 § lagen om tilläggsskatt, klargörs vad som gäller i fråga om uppskjuten skatt hänförlig till s.k. blended CFC tax regime. Punkt 5 hänger samman med bestämmelserna i 3 kap. 27 m–27 o §§ lagen om tilläggsskatt om hur det uppskjutna skattejusteringsbeloppet ska påverka fördelningen av medräknad skatt som tas ut enligt ett system för beskattning av kontrollerade utländska företag. Dessa bestämmelser motsvaras av punkt 71.4–71.17 i kommentaren till artikel 4.4.1 i modellreglerna. Av 3 kap. 27 m § lagen om tilläggsskatt framgår att 4 kap. 27 n–27 o §§ samma lag inte gäller uppskjuten skatt hänförlig till skatt enligt ett system för beskattning av kontrollerade utländska företag som beräknar skatten för samtliga företag samlat (s.k. blended CFC tax regime). Fördelning av sådan skatt sker enbart i fråga om aktuell skatt. Bestämmelserna om sådan fördelning finns i 3 kap. 27 d–27 i §§ lagen om tilläggsskatt, vilka motsvaras av punkt 58.1–58.7 i kommentaren till artikel 4.3.2. Uppskjuten skatt beräknas alltså inte vad avser skatt hänförlig till blended CFC tax regime. Sådan uppskjuten skatt ska därför inte heller beaktas vid tillämpning av artikel 9.1.1. Regeringen föreslår därför att 4 kap. 25 § lagen om tilläggsskatt tillförs ett förtydligande med denna innebörd.

Lagförslag

Förslaget medför ändring i 4 kap. 25 § lagen om tilläggsskatt.

11¶Lagens tillämpningsområde vid delning av en koncern

Regeringens förslag

Bestämmelsen om när beloppsgränsen för lagens tillämpningsområde har uppnåtts efter att en koncern har delats ska ändras på följande sätt för att stämma överens med direktivet och modellreglerna. Om en koncern som omfattas av lagens tillämpningsområde delas i två eller flera koncerner, ska beloppsgränsen för lagens tillämpningsområde avseende en koncerns årliga intäkt anses vara uppnådd

– för det första räkenskapsåret som avslutas närmast efter delningen: om summan av intäkterna i koncernredovisningen för den koncernen för det räkenskapsåret uppgår till minst 750 miljoner euro, och

– för det andra till fjärde räkenskapsåret som avslutas närmast efter delningen: om summan av intäkterna i koncernredovisningen för den koncernen uppgår till minst 750 miljoner euro under minst två av de fyra räkenskapsår som avslutas närmast efter delningen.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR, som yttrar sig särskilt i denna del, tillstyrker förslaget men föreslår en justering av lagtexten.

Skälen för regeringens förslag

Gällande rätt

Av 1 kap. 3 § lagen om tilläggsskatt framgår, något förenklat, att lagen ska tillämpas när en svensk koncernenhet ingår i en koncern som har en årlig intäkt på minst 750 miljoner euro. I 1 kap. 10 § lagen om tilläggsskatt finns särskilda bestämmelser om hur prövningen av denna beloppsgräns ska göras när en koncern som uppfyller kriterierna för att omfattas av lagens tillämpningsområde delas. Paragrafens första stycke lyder:

Om en koncern som omfattades av lagens tillämpningsområde året före

det aktuella räkenskapsåret delas i två eller flera nya koncerner, ska

beloppsgränsen i 3 § anses vara uppnådd

– för det räkenskapsår då delningen sker: om summan av

intäkterna i koncernredovisningen för vardera ny koncern för

det räkenskapsåret uppgår till minst 750 miljoner euro, och

– för det andra till fjärde räkenskapsåret efter delningen: om

summan av intäkterna i koncernredovisningen för vardera ny

koncern uppgår till minst 750 miljoner euro under minst två av

dessa räkenskapsår.

I modellreglerna finns bestämmelsen i artikel 6.1.1 c. Denna punkt lyder:

Where a single MNE Group within the scope of the GloBE Rules

demerges into two or more Groups (each a demerged Group), the

consolidated revenue threshold is deemed to be met by a demerged

Group:

i. with respect to the first tested Fiscal Year ending after the

demerger, if the demerged Group has annual revenues of EUR

750 million or more in that year;

ii. with respect to the second to fourth tested Fiscal Years ending

after the demerger, if the demerged Group has annual revenues

of EUR 750 million or more in at least two of the Fiscal Years

following the year of the demerger.

I minimibeskattningsdirektivet återfinns denna bestämmelse i artikel 33.4. Med undantag för att lydelsen i minimibeskattningsdirektivet även

inkluderar stora nationella koncerner överensstämmer den i allt väsentligt med artikel 6.1.1 c i modellreglerna. En skillnad i uttryckssätt återfinns i slutet av punkt ii i den artikeln. I modellreglerna lyder slutet av denna punkt: ”…or more in at least two of the Fiscal Years following the year of the demerger” medan motsvarande text i minimibeskattningsdirektivet lyder: ”…or more in at least two of those fiscal years” (kursiveringar här).

Beloppsgränsen vid delning av en koncern

Ordalydelsen i 1 kap. 10 § lagen om tilläggsskatt skiljer sig från modellreglerna och direktivet i några avseenden. För det första ska paragrafen enligt ingressen tillämpas om den koncern som delas omfattades av lagens tillämpningsområde året före delningsåret. Enligt modellreglerna och direktivet gäller i stället att regeln ska tillämpas om den koncern som delas omfattas av lagens tillämpningsområde under delningsåret. För det andra skulle uttrycket ”summan av intäkterna i koncernredovisningen för vardera ny koncern” i strecksatserna kunna tolkas som att det ska göras en sammanlagd bedömning av de nya koncernerna. Av såväl ordalydelsen i modellreglerna som av punkt 33 i kommentaren till artikel 6.1.1 c i modellreglerna framgår emellertid klart att reglerna i artikeln gäller separat för varje koncern, både en koncern som uppkommer och det som finns kvar av koncernen som delats. Varje sådan koncern är det som i punkt 33 kallas a demerged group och omfattas av bestämmelsen i 1 kap. 10 § lagen om tilläggsskatt. För det tredje är avslutningen på den andra strecksatsen i paragrafen olyckligt formulerad. Strecksatsen behandlar den prövning som ska göras det andra till fjärde året efter delningen. I både den svenska lagen och minimibeskattningsdirektivet anges att beloppsgränsen på 750 miljoner euro ska uppnås under minst två av dessa räkenskapsår. En bokstavstolkning av bestämmelsen innebär att prövningen bara ska avse de år som behandlas i strecksatsen, dvs. det andra till fjärde året efter delningen. Med en sådan tolkning går regeln emellertid inte att tillämpa det andra året efter delningen eftersom det då inte finns två år att bedöma. Enligt motsvarande text i modellreglerna och punkt 36 i kommentaren framgår emellertid helt klart att prövningen enligt andra strecksatsen i bestämmelsen även ska innefatta delningsåret. Att regeln ska tolkas på detta sätt framgår också i författningskommentaren till paragrafen (prop. 2023/24:32 s. 514 och 515).

För att lagen om tilläggsskatt ska stämma överens med direktivet och modellreglerna föreslår regeringen därför att 1 kap. 10 § lagen om tilläggsskatt ändras så att bestämmelsen tillämpas på sådana koncerner som omfattas av lagens tillämpningsområde under delningsåret. Vidare föreslår regeringen att det vid bedömningen av om beloppsgränsen är uppnådd för en koncern efter delningen endast ska tas hänsyn till den aktuella koncernens intäkter. När bestämmelsen tillämpas på de koncerner som finns efter delningen kommer prövningen av om beloppsgränsen i bestämmelsen är uppnådd alltså att göras för varje koncern för sig, utan att intäkterna i den eller de andra koncernerna räknas med.

FAR anför att det bör övervägas om inte paragrafen blir tydligare genom att ”en koncern” och ”den koncernen” i lagförslaget ersätts med ”var och en av de nya koncernerna”. Regeringen anser dock att den av FAR föreslagna ändringen skulle innebära att felaktigheten om en sammanlagd

bedömning av de nya koncernerna i nuvarande lydelse skulle komma att kvarstå.

Slutligen föreslås att det klargörs att den prövning avseende två räkenskapsår som ska göras det andra till fjärde räkenskapsåret som avslutas närmast efter delningen även ska inkludera delningsåret (det första räkenskapsåret som avslutas närmast efter delningen).

Lagförslag

Förslaget medför ändring i 1 kap. 10 § lagen om tilläggsskatt.

12¶Moderföretag som omfattas av system med avdragsgill utdelning

Regeringens förslag

Den justerade vinsten för ett moderföretag som omfattas av ett system med avdragsgill utdelning ska minskas lägst till noll. Motsvarande ska gälla vid tillämpningen av den tillfälliga förenklingsregeln.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

FAR, som yttrar sig särskilt i denna del, tillstyrker förslaget.

Skälen för regeringens förslag

I 7 kap. 67 och 68 §§ lagen om tilläggsskatt finns särskilda bestämmelser om minskning av justerad vinst för moderföretag som omfattas av ett system med avdragsgill utdelning. För den tillfälliga förenklingsregeln i 8 kap. 3–7 §§ lagen om tilläggsskatt finns en motsvarande bestämmelse i 8 kap. 9 §. Motsvarande reglering finns i artikel 39 i minimibeskattningsdirektivet, vilken motsvaras av artikel 7.2.1 och 7.2.4 i modellreglerna. Lydelsen i dessa artiklar skiljer sig emellertid från bestämmelserna i lagen om tilläggsskatt såtillvida att minskningen enligt dessa artiklar ska ske lägst till noll. För att lagen om tilläggsskatt ska stämma överens med direktivet föreslås därför att bestämmelserna i 7 kap. 67 och 68 §§ och 8 kap. 9 § lagen om tilläggsskatt kompletteras med en sådan begränsning.

Lagförslag

Förslaget medför ändring i 7 kap. 67 och 68 §§ och 8 kap. 9 § lagen om tilläggsskatt.

13¶Ikraftträdande- och övergångsbestämmelser

Regeringens förslag

Lagändringarna ska träda i kraft den 1 januari 2027. Bestämmelserna ska tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2026.

Den rapporterande enheten ska få tillämpa samtliga eller vissa av bestämmelserna första gången för beskattningsår som börjar närmast efter den 31 december 2024 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2024. Bestämmelserna i 4 kap. 17 a–17 d §§ samt 8 kap. 18 a och 18 b §§ lagen om tilläggsskatt ska dock få tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2025 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2025.

Promemorians förslag

Förslaget i promemorian överensstämmer med regeringens.

Remissinstanserna

Sveriges advokatsamfund anför att de centrala delarna av förslaget inte torde strida mot 2 kap. 10 § regeringsformen, eftersom de får betraktas som gynnande och frivilliga för de skattskyldiga. På grund av de förslag som är betungande bör ändå övervägas om intresset av att lagen om tilläggsskatt kan tillämpas på samma sätt och samtidigt under en övergångsperiod väger över jämfört med skattskyldigas intresse av förutsägbarhet.

Skälen för regeringens förslag

Det är angeläget att lagändringarna träder i kraft så snart som möjligt för att säkerställa att den svenska lagen stämmer överens med minimibeskattningsdirektivet och modellreglerna. Lagändringarna ska därför träda i kraft den 1 januari 2027. Bestämmelserna ska tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2026.

Vidare föreslås att den rapporterande enheten får tillämpa samtliga eller vissa av bestämmelserna första gången för beskattningsår som börjar närmast efter den 31 december 2024 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2024.

Regeringen konstaterar att möjligheten att införa retroaktiv lagstiftning bör tillämpas mycket restriktivt (prop. 2024/25:7 s. 238–241). I de tidigare lagstiftningsärenden då antagna administrativa riktlinjer har införts (prop. 2024/25:7 och prop. 2025/26:22) finns möjlighet för den rapporterande enheten att välja att tillämpa bestämmelser retroaktivt. Motiver-

ingen till att bestämmelserna skulle kunna tillämpas retroaktivt av de skattskyldiga var att det är av stor vikt att de svenska reglerna om tilläggsskatt kan tillämpas på samma sätt och samtidigt som de regler som övriga medlemsstater har infört i sina nationella rättsordningar vid genomförandet av minimibeskattningsdirektivet. Detsamma gäller regler som stater utanför EU har infört med anledning av modellreglerna.

De bestämmelser som föreslås i denna lagrådsremiss kommer att träda i kraft den 1 januari 2027. De föreslagna lagändringarna baseras på administrativa riktlinjer som beslutats under år 2024–2026. De administrativa riktlinjerna kan därför ha kommit att beaktas i andra staters lagstiftning redan från ett tidigare datum eftersom många stater inte har något problem med att införa lagstiftning retroaktivt eller genom en direkt hänvisning till modellreglerna och kommentaren. Det är därmed angeläget att även de svenska reglerna kan tillämpas så tidigt som möjligt i anslutning till det att riktlinjerna har antagits. Vidare anpassar sig många koncerner efter de administrativa riktlinjerna från det att de publiceras. För att inte stå i strid med retroaktivitetsförbudet föreslås att bestämmelsernas retroaktiva verkan görs frivillig för företagen. Det innebär att företagen vad avser beskattningsår som motsvarar kalenderåren 2025 och 2026 kan välja att tillämpa lagen om tilläggsskatt antingen i dess lydelse från och med det ursprungliga ikraftträdandet eller i dess lydelse från och med den 1 januari 2027. Det intresse som retroaktivitetsförbudet i 2 kap 10 § regeringsformen är avsett att skydda bör därmed anses tillgodosett. Företagen bör kunna välja att bara tillämpa en eller några enstaka av de lagändringar som föreslås retroaktivt för beskattningsår som påbörjas efter den 31 december 2024. Det bör inte ställas upp några särskilda krav avseende rapportering av vilka val som görs i detta hänseende. För svenska handelsbolag gäller vad som sägs ovan för räkenskapsåren 2025 och 2026. Det bedöms ändamålsenligt att det ska vara den rapporterande enheten, dvs. den enhet som lämnar tilläggsskatterapport, som får begära en retroaktiv tillämpning. En sådan begäran bör ske genom att den rapporterande enheten tillämpar en eller flera av de nu föreslagna reglerna vid beräkningarna enligt lagen om tilläggsskatt som sedermera redovisas i tilläggsskatterapporten, med verkan från beskattningsår 2025.

Vad Sveriges advokatsamfund anför om skattskyldigas intresse av förutsebarhet är enligt regeringens bedömning inte ett bärande skäl för att de förslag som lämnas endast ska få tillämpas på beskattningsår eller, i fråga om svenska handelsbolag, räkenskapsår som börjar den 1 januari 2027 eller senare. Även när det gäller betungande bestämmelser kan de skattskyldiga ha ett intresse av att tillämpa bestämmelserna retroaktivt om de t.ex. har anpassat sig efter de administrativa riktlinjerna från det att de antogs av IF.

Möjligheten för den rapporterande enheten att välja retroaktiv tillämpning föreslås vara mer begränsad i tre fall. Det gäller de bestämmelser som föreslås i avsnitt 7 och 8. I avsnitt 7 föreslås förenklingsregler dels för huvud- och kompletteringsregeln när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem, dels för kompletteringsregeln när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem. I avsnitt 8 föreslås bestämmelser om kvalificerade skatteincitament och om att kvalificerade respektive 50 marknadsmässigt överlåtbara skattetillgodohavanden får behandlas som

kvalificerade skatteincitament. Dessa bestämmelser får dock tidigast tillämpas för beskattningsår som börjar efter den 31 december 2025 eller senare eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2025. Detta överensstämmer med hur reglerna har formulerats i de administrativa riktlinjerna.

14¶Konsekvensanalys

I detta avsnitt redogörs för förslagens effekter i den omfattning som bedöms stå i proportion till det aktuella lagstiftningsärendet och med utgångspunkt i tillämpliga delar av 7 § förordningen (2024:183) om konsekvensutredningar. Regelrådet bedömer att konsekvensutredningen uppfyller kraven i förordningen (2024:183) om konsekvensutredningar.

14.1¶Offentligfinansiella effekter

I propositionen Tilläggsskatt för företag i stora koncerner (prop. 2023/24:32) finns en analys av konsekvenserna av förslaget om införande av lagen om tilläggsskatt. Lagen om tilläggsskatt genomför modellreglerna och minimibeskattningsdirektivet i svensk lagstiftning. Modellreglerna är ett omfattade och komplext regelverk och resultatet av ett mångårigt internationellt samarbete. Lagen om tilläggsskatt trädde i kraft den 1 januari 2024. Det finns i dag ingen ny information om svenska multinationella koncerner och deras tilläggskatterapporter som kan användas för att fördjupa konsekvensanalysen. Det har däremot kommit nya land-för-land-rapporter. Underlaget som ligger till grund för konsekvensanalysen i denna lagrådsremiss och de kvantitativa delarna av analysen bygger i stor utsträckning på de land-för-land-rapporter som lämnats av svenska multinationella koncerner under åren 2022–2023. Land-för-land-rapporteringen är relativt ny och kvaliteten på statistiken varierar. Det komplexa regelverket tillsammans med den osäkerhet som finns i det statistiska underlaget och vad gäller den internationella implementeringen av minimibeskattningsdirektivet eller modellreglerna gör att bedömningarna i konsekvensanalysen är osäkra och ska tolkas med försiktighet. Detta gäller särskilt de kvantitativa delarna.

I minimibeskattningsdirektivet anges att genomförandet av modellreglerna inom unionen bör ligga så nära den globala överenskommelsen som möjligt. Det är således centralt att även de administrativa riktlinjerna införs i lagen om tilläggsskatt. Utgångspunkten i lagstiftningsarbetet har varit att de nya bestämmelserna ska utformas så att de ligger så nära de administrativa riktlinjerna som möjligt. Några alternativa lösningar har inte övervägts eftersom det inte ansetts vara relevant. Regelrådet konstaterar att en beskrivning av konsekvenser om ingen åtgärd vidtas saknas. Regeringen bedömer att detta ryms inom beskrivningen av alternativa förslag.

I denna lagrådsremiss finns förslag och bedömningar om en rad nya och ändrade bestämmelser i lagen om tilläggsskatt. Förslagen föranleds av

administrativa riktlinjer som antagits av IF den 24 maj 2024 och den 13 januari 2025. Vidare har IF den 5 januari 2026 antagit ett paket med fem förenklingsregler, varav fyra omfattas av denna lagrådsremiss. De administrativa riktlinjerna från januari 2025 preciserar reglerna om övergången till systemet enligt artikel 9.1 i modellreglerna. Vidare förlängs den tillfälliga förenklingsregeln med ett år och nya förenklingsregler föreslås för de fall när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem som godkänts av IF. Det föreslås även att det ska införas regler om kvalificerade skatteincitament i lagen om tilläggsskatt. Med sådana skatteincitament får skattekostnaden höjas med ett visst belopp, vilket får till följd att tilläggsskattebeloppet blir lägre jämfört med nu gällande regler. Möjligheten att få en förmånlig behandling av kvalificerade skatteincitament begränsas emellertid av ett takbelopp.

De administrativa riktlinjerna från januari 2025 är i huvudsak preciseringar av reglerna om övergången till systemet och bedöms därför inte ge upphov till någon offentligfinansiell effekt enligt Finansdepartementets beräkningskonventioner vid ändrade skatte- och avgiftsregler. Ur ett konsekvensanalysperspektiv bör förslagen kopplade till de administrativa riktlinjerna i stället tolkas och utvärderas tillsammans med de befintliga bestämmelserna i lagen om tilläggsskatt. Dessa förslag ändrar inte i sak de bedömningar och slutsatser som gjordes i prop. 2023/24:32. Regelrådet anser att det är oklart hur de förslag som lämnas i promemorian kan utvärderas och när. Regeringen bedömer att en sådan precisering inte är möjlig eftersom arbetet med regelverket om global minimibeskattning ännu inte är avslutat.

När det gäller förlängningen av den tillfälliga förenklingsregeln uppstår inte heller någon offentligfinansiell effekt då det bara bedöms vara administrativa kostnader som påverkas. Effekten på administrativa kostnader på grund av förlängningen av den tillfälliga förenklingsregeln beskrivs i avsnitt 14.2.

I detta avsnitt uppdateras först relevanta bedömningar och slutsatser från propositionen Tilläggsskatt för företag i stora koncerner (prop. 2023/24:32) till följd av nya överenskommelser och aktuell information om vilka stater som har implementerat reglerna om minimibeskattning. Bedömningen i propositionen var att Sverige kommer att få intäkter från tilläggsskatt från stater utanför EU och G20 som inte implementerar reglerna om minimibeskattning eller inför nationell tilläggsskatt. Med hjälp av aktuell information om vilka stater som inte har kvalificerade regler och uppgifter från land-för-land-rapporteringar för 2022 och 2023 bedöms tilläggsskatten från moderföretag som hör hemma i Sverige och med koncernenheter i stater som inte har implementerat reglerna om minimibeskattning eller nationell tilläggsskatt uppgå till ca 350 miljoner kronor per år. Det innebär att intäkterna från tilläggsskatten i Sverige fortsatt bedöms vara i samma storleksordning som i prop. 2023/24:32.

Mot bakgrund av de senaste årens utveckling i arbetet med modellreglerna och de ändringar som görs nu bedöms att vissa G20 stater inte kommer implementera minimibeskattningsreglerna. Enligt den nya överenskommelsen från 5 januari 2026 ska tilläggsskattebeloppet enligt 52 huvud- och kompletteringsregeln för tilläggsskatt anses vara noll för

koncernenheter om moderföretaget hör hemma i stat som är godkänd av OECD/G20 Inclusive Framework on BEPS som en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst. Den 5 januari 2026 uppdaterades annex B med ett nytt avsnitt för Qualified SbS Regimes i vilket USA och dess regler anges, tillsammans med informationen att godkännandet gäller för beskattningsår som börjar den 1 januari 2026 eller senare. Enligt den första bedömningen i propositionen Tilläggsskatt för företag i stora koncerner skulle inte Sverige få några skatteintäkter från tilläggsskatt från amerikanska koncernenheter. Bedömningen är att den nya förenklingsregeln när moderföretag hör hemma i en stat med ett godkänt parallellt minimibeskattningssystem inte ger upphov till någon offentligfinansiell effekt eftersom det antas handla om stater som Sverige annars inte skulle kunna tillämpa kompletteringsregeln på. Det ska även införas regler om kvalificerade skatteincitament i lagen om tilläggsskatt. Dessa regler innebär att skattekostnaden får höjas med ett belopp vid kvalificerade skatteincitament, vilket möjliggör ett lägre tilläggsskattebelopp än om dessa regler inte används. Möjligheten att få en förmånlig behandling av kvalificerade skatteincitament begränsas av ett takbelopp. Denna del av förslaget bedöms inte leda till någon ändrad intäkt av svensk nationell tilläggsskatt eftersom Sverige inte har sådana incitament som kan omfattas av de föreslagna reglerna om kvalificerade skatteincitament. Däremot kan förslaget om nya regler för kvalificerade skatteincitament påverka den tilläggsskatt som Sverige tar ut från moderföretag som hör hemma i Sverige och med koncernenheter i stater som inte har en godkänd regel om nationell tilläggsskatt. Det finns bara ett fåtal stater som inte har en godkänd regel om nationell tilläggsskatt och där det enligt land-för-landrapporteringar för 2022 och 2023 finns lågbeskattade vinster för koncernenheter med svenska moderföretag. Det kan inte uteslutas att den låga beskattningen av enskilda koncernenheters vinster i vissa stater helt eller delvis beror på ett kvalificerat skatteincitament. I den utsträckning som den låga beskattningen beror på ett kvalificerat skatteincitament så minskar den tilläggsskatt som Sverige hade haft möjlighet att ta ut från det svenska moderföretaget om reglerna om kvalificerade skatteincitament inte införs. Det bedöms inte vara möjligt att i detalj uppskatta hur mycket av tilläggsskatten avseende koncernenheter i en enskild stat som beror på ett sådant skatteincitament eftersom det kräver detaljerad information om utländska koncernenheters utnyttjanden av skatteincitament. En samlad bedömning är dock att den låga beskattningen av vissa utländska koncernenheter till största del beror på andra skatteregler än kvalificerade skatteincitament. Den offentligfinansiella effekten av förslaget om nya regler för kvalificerade skatteincitament bedöms därför vara försumbar.

Sammantaget bedöms förslagen i lagrådsremissen inte påverka de offentliga finanserna nämnvärt. Det kan inte uteslutas att reglerna kan ha viss effekt på de svenska skatteintäkterna på sikt, men osäkerheten kring effekterna i kombination med att dessa bedöms vara små, särskilt i förhållande till de samlade bolagsskatteintäkterna, leder till slutsatsen att förslagen har en försumbar offentligfinansiell effekt.

14.2¶Effekter för företag

Förslagen i lagrådsremissen påverkar de företag som omfattas av lagen om tilläggsskatt. Det bedöms att mellan 150 och 160 koncerner med ett svenskt moderföretag och omkring 70 koncerner med utländskt moderföretag i Sverige omfattas av lagen om tilläggsskatt. Dessa koncerner består av ca 20 000 koncernenheter (företag) varav 7 000 finns i Sverige och 13 000 i utlandet. Lagen bedöms också omfatta 2 000–8 000 koncernenheter i Sverige i koncerner med ett utländskt moderföretag. Regelrådet finner avsaknaden av en beskrivning av särskilda hänsyn till små och medelstora företag bristfällig. Regeringen anser att effekterna av förslaget avseende företagens storlek är väl beskrivna och står i proportion till förslagets omfattning. Avsaknaden av beskrivning av särskild hänsyn till små och medelstora företag bygger på att små och medelstora företag inte bedöms påverkas av reglerna. Regeringen konstaterar också att en beskrivning av särskild hänsyn till små och medelstora företag inte omfattas av förordningen (2024:183) om konsekvensutredningar.

De koncerner som omfattas av lagen tilläggsskatt har delats in i branscher med hjälp av redovisningen av svensk näringsgrensindelning (SNI) i FRIDA. Utifrån en branschindelning som bestäms av moderföretagets SNI-rapportering är området Verksamhet inom juridik, ekonomi, vetenskap och teknik vanligast förekommande (ca 40 procent av koncernerna) medan ca 20 procent bedriver Handel; reparation av motorfordon och motorcyklar. Branschtillhörigheten bör tolkas med försiktighet eftersom den inte nödvändigtvis ger en rättvisande bild av i vilken bransch koncernen huvudsakligen verkar i. Att så många koncernenheter redovisar SNI-avdelningen Verksamhet inom juridik, ekonomi, vetenskap och teknik kan bero på att de enskilda koncernenheterna bedriver en övergripande verksamhet och tillhandahåller tjänster till flera enheter inom koncernen. En branschindelning som bestäms efter enheten med störst omsättning ger dock en annan bild. Cirka 30 procent av de koncerner som bedöms omfattas av regelverket rapporterar att de bedriver Handel; reparation av motorfordon och motorcyklar medan drygt 25 procent av koncernerna faller inom tillverkning. Andelen som faller inom verksamhet inom juridik, ekonomi, vetenskap och teknik sjunker till 10 procent. Omkring 10 procent är verksam inom Information och Kommunikation.

Vilka av koncernerna och företagen som kommer att påverkas av respektive förslag är dock svårt, och i vissa fall omöjligt, att avgöra. De administrativa riktlinjerna från januari 2025 är i huvudsak ett förtydligande av vad som gäller vid tillämpningen av artikel 9.1 i modellreglerna och bedöms därför inte påverka företagen nämnvärt. När det gäller förlängning av den tillfälliga förenklingsregeln bedöms förslaget påverka de administrativa kostnaderna för företagen, vilka beskrivs närmare nedan. Regelrådet saknar en beskrivning av påverkan på företagens intäkter. Regeringen bedömer att förslaget inte påverkar företagens intäkter.

Information om de nya bestämmelserna bör tillhandahållas inom ramen för övrig information om modellreglerna och lagen om tilläggsskatt. Skatteverket förutsätts uppdatera sina informationsmaterial och vidta 54 lämpliga informationsinsatser.

Administrativa kostnader

De administrativa kostnaderna för koncerner till följd av lagen om tilläggsskatt beräknas bli betydande, särskilt för koncerner med aktivitet i många stater och med många koncernenheter. Detta kan påverka konkurrensen mellan företag och missgynna stora koncerner. Förslaget om att förlänga den tillfälliga förenklingsregeln innebär möjlighet för koncerner att inte tillämpa lagen om tilläggsskatt fullt ut såvitt avser koncernenheter som hör hemma i lågriskjurisdiktioner. Förslaget är att en koncern inte behöver göra en fullständig beräkning av eventuell tilläggsskatt om den kan visa att den enligt en förenklad beräkning inte är lågbeskattad i en stat, bl.a. med hjälp av uppgifter i land-för-landrapporteringen. Syftet är att tillhandahålla ett förenklat förfarande för bedömningen av om tilläggsskatt ska betalas och ge de koncerner som omfattas av reglerna tid att anpassa sin interna hantering till de nya reglerna. För att uppnå syftet baseras beräkningarna bl.a. på information i land-för-land-rapporten, som redan är tillgänglig för de berörda koncernerna.

Av de koncerner som bedöms omfattas av direktivets regelverk förväntas ca 30–45 av 150–160 inte behöva samla in ytterligare information och göra fullständiga beräkningar enligt regelverket för enheter i någon stat som de bedriver verksamhet i. Resterande koncerner bedöms behöva samla in och rapportera information för enheter i vissa stater. Eftersom de inte behöver göra fullständiga beräkningar i stater där de inte är lågbeskattade då den tillfälliga förenklingsregeln förlängs minskar dock rapporteringen betydligt. Förlängningen av den tillfälliga förenklingsregeln bedöms således minska företagens administrativa kostnader betydligt jämfört med vad som annars hade varit fallet. I prop. 2023/24:32 bedömdes den tillfälliga förenklingsregeln minska de administrativa kostnaderna med 87 procent per år så länge regelverket var på plats. Denna bedömning kvarstår. Förslaget att förlänga förenklingsregeln innebär alltså att företagens administrativa kostnader bedöms minska till ca 15–130 miljoner kronor per år så länge regelverket är i kraft.

Den nya förenklingsregeln om kvalificerade skatteincitament innebär vissa ytterligare beräkningar för de multinationella koncerner som vill använda reglerna för kvalificerade skatteincitament eftersom hanteringen av dessa görs separat. Sådana beräkningar bedöms dock bygga på uppgifter som tas fram vid beräkningen av tilläggsskatt enligt de vanliga reglerna och bör därför inte innebära någon nämnvärd ytterligare påverkan på företagens administrativa kostnad. De övriga förslagen bedöms ha marginell påverkan på företagens administrativa kostnader.

Effekter för företagen och konkurrensförhållanden mellan olika stater

Även om många företag kan planera sin verksamhet så att skattekostnaden hålls nere är det i praktiken kostsamt att dra nytta av skillnader i effektiva skattesatser. Av det skälet är främst stora multinationella koncerner som har tillräckligt stora incitament och möjligheter att agera utifrån skillnader

i effektiva skattesatser. Reglerna om minimibeskattning gör att möjligheterna för de stora multinationella koncernerna att minska sina skattekostnader begränsas, vilket gör att konkurrenssituationen mellan stora och mindre koncerner förbättras. Reglerna utformades på ett sådant sätt att om en koncern har verksamhet i någon stat som inför reglerna om minimibeskattning så behöver koncernen i princip betala lika mycket tilläggsskatt oavsett omfattning eller form av aktiviteter i de staterna. Med de nya förenklingsreglerna behandlas en koncern annorlunda när moderföretag hör hemma i en stat med ett godkänt parallellt minimibeskattningssystem, s.k. side-by-side system. IF har i januari 2026 godkänt USA:s regler i detta avseende. Det är för närvarande oklart vilka andra stater som kan komma att godkännas. Koncerner vars moderföretag hör hemma i Sverige riskerar att hamna i en konkurrensmässigt sämre situation jämfört med koncerner med moderföretag i stater med s.k. sideby-side system. Koncerner vars moderföretag hör hemma i Sverige skulle kunna få högre skattekostnader och administrativa kostnader när de har verksamhet i en stat som inte har infört reglerna om minimibeskattning. Koncerner med moderföretag som hör hemma i en stat med ett godkänt parallellt minibeskattningssystem kan däremot fortsätta att använda mer förmånliga strukturer för att minska sina totala skattekostnader, behålla större flexibilitet i sina globala investeringar och därmed ha en konkurrensmässigt bättre position jämfört med koncerner med moderföretag som hör hemma i Sverige eller stater som har infört reglerna om minimibeskattning.

De nya reglerna om kvalificerade skatteincitament i de administrativa riktlinjerna från januari 2026 medför att sådana skatteincitament i andra stater blir mer förmånligt behandlade i reglerna om minimibeskattning och ökar trycket att införa liknande kvalificerade incitament i de stater som inte har det. Nya incitament förväntas införas i ett globalt perspektiv och stater med befintliga incitament kan förväntas göra dessa mer generösa. Ett av de starkaste skälen till att införa minimiskatteregler var att minska staternas möjlighet att konkurrera om investeringar genom olika skattemässiga incitament. Med den nya behandlingen kommer emellertid möjligheter att konkurrera genom skattemässiga incitament att öka.

Sverige har för närvarande inga incitament som kan omfattas av de föreslagna reglerna om kvalificerade skatteincitament. Ur svenskt perspektiv påverkar förslaget om nya regler för kvalificerade skatteincitament i lagen om tilläggsskatt främst konkurrensen mellan olika multinationella koncerner vars moderföretag hör hemma i Sverige och som har koncernenheter i olika stater. Förslaget medför en konkurrensfördel för de koncerner som använder kvalificerade skatteincitament i stater utan en godkänd regel för nationell tilläggsskatt. Eftersom den offentligfinansiella effekten av förslaget i denna del bedöms vara försumbar bedöms detta inte påverka konkurrensen mer än marginellt. Förslaget innebär att Sverige kan införa incitament som skulle omfattas av de föreslagna reglerna om kvalificerade skatteincitament för att förbättra Sveriges internationella konkurrenskraft i en situation där andra stater har incitament som utgör kvalificerade skatteincitament enligt de administrativa riktlinjerna från januari 2026.

Sammantaget bedöms de administrativa riktlinjerna från januari 2026 56 innebära en större möjlighet för stater att attrahera investeringar genom

olika former av skattekonkurrerande åtgärder som får genomslag i reglerna om minimibeskattning. Förslagen om regler om kvalificerade skatteincitament och förenklingsregler för s.k. side-by-side system i lagen om tilläggsskatt bedöms innebära konkurrensfördelar för multinationella koncerner med koncernenheter i stater utan godkända system för tilläggsskatt. Förslagen innebär att den tilläggsskatt som multinationella koncerner tidigare hade behövt betala i Sverige som följd av en låg effektiv skatt i andra stater under vissa omständigheter blir lägre. Sådana fall kan uppstå om den låga effektiva skattesatsen beror på sådana incitament som omfattas av de föreslagna reglerna om kvalificerade skatteincitament eller genom att de har ett moderföretag som hör hemma i ett godkänt parallellt minibeskattningssystem som tillåter lägre effektiva skattesatser under vissa omständigheter.

14.3¶Effekter på investeringar och sysselsättning

De justeringar som görs med anledning av administrativa riktlinjerna från januari 2025, som i huvudsak är ett förtydligande av vad som gäller vid tillämpningen artikel 9.1 i modellreglerna, påverkar inte investeringarna eller sysselsättningen. Däremot kan de nya förenklingsregler som föreslås när moderföretag hör hemma i en stat med ett godkänt parallellt minibeskattningssystem minska investeringarna i Sverige jämfört med dessa stater. Skillnaderna mellan det godkända systemet och minimibeskattningsreglerna kommer att innebära att nettoavkastningen på investeringar för europeiska koncerner i till exempel USA, allt annat lika, blir lägre än nettoavkastningen på investeringar som görs av koncerner vars moderföretag hör hemma i dessa stater för samma typ av investering. Ur ett ekonomiskt perspektiv finns det en risk att detta leder till färre investeringar i Sverige och EU, samt att moderföretaget på sikt kan flyttas till dessa stater.

Det finns även en risk att de nya reglerna för kvalificerade skatteincitament som antogs av IF i januari 2026 minskar investeringarna i Sverige. Eftersom Sverige inte har sådana incitament som kan omfattas av de föreslagna reglerna om kvalificerade skatteincitament innebär de nya reglerna att bolagsskatten blir relativt lägre i stater med incitament som utgör kvalificerade skatteincitament.

Förslaget om nya regler för kvalificerade skatteincitament i lagen om tilläggsskatt påverkar i första hand multinationella koncerner vars moderföretag hör hemma i Sverige och som har koncernenheter i stater utan en godkänd regel om nationell tilläggsskatt men som har sådana incitament som omfattas av de föreslagna reglerna om kvalificerade skatteincitament. Sådana moderföretag kan i viss utsträckning räkna med lägre tilläggsskatt på vinster från berörda koncernenheter utomlands och kan därför på marginalen välja att rikta investeringar dit i stället för till Sverige. Denna effekt bedöms dock i sig vara liten. Förslaget möjliggör däremot för Sverige att i framtiden införa ett kvalificerat skatteincitament för att locka till sig investeringar från multinationella koncerner. Till den del företagen förväntar sig en sådan utveckling kan förslaget i sig samtidigt

bidra att hålla investeringar inom landet. Sammantaget bedöms effekten på investeringar av förslaget vara marginell.

Samtidigt bedöms de förändringar som på ett internationellt plan medförs av de nya reglerna för kvalificerade skatteincitament som antogs av IF i januari 2026 på ett mer betydande sätt kan antas rikta internationella investeringar till andra stater under rådande förhållanden. Dessa förändringar är dock en effekt av den internationella överenskommelsen och inte av förslagen om ändringar i lagen om tilläggsskatt.

Det finns relativt få studier som analyserar sambandet mellan bolagsskatteförändringar och sysselsättningen. Eftersom bolagsskattehöjningar antas minska investeringarna, borde de även ha negativ påverkan på sysselsättningen. De nya reglerna för kvalificerade skatteincitament kan däremot motverka denna effekt. Sammantaget bedöms effekten på sysselsättningen vara svårbedömd.

14.4¶Effekter för Skatteverket och de allmänna förvaltningsdomstolarna

Förslagen bedöms endast medföra marginella förändringar för Skatteverket och de allmänna förvaltningsdomstolarna då det endast är fråga om ett begränsat antal nya bestämmelser som kompletterar de befintliga bestämmelserna i lagen om tilläggsskatt. Eventuella kostnader för Skatteverket och de allmänna förvaltningsdomstolarna till följd av förslagen ryms inom befintliga ekonomiska ramar.

14.5¶Övriga effekter

Förslagen bedöms inte få några effekter för enskilda, den ekonomiska jämställdheten, den ekonomiska fördelningen eller miljön.

15¶Författningskommentar

Förslaget till lag om ändring i lagen (2023:875) om tilläggsskatt

1 kap.

10 § Om en koncern som omfattas av lagens tillämpningsområde delas i två eller flera koncerner, ska beloppsgränsen i 3 § för en koncern anses vara uppnådd

– för det första räkenskapsåret som avslutas närmast efter delningen: om summan av intäkterna i koncernredovisningen för den koncernen för det räkenskapsåret uppgår till minst 750 miljoner euro, och

– för det andra till fjärde räkenskapsåret som avslutas närmast efter delningen: om summan av intäkterna i koncernredovisningen för den koncernen uppgår till minst 750 miljoner euro under minst två av de fyra räkenskapsår som avslutas närmast efter delningen.

Första stycket gäller i fråga om varje arrangemang där koncernenheterna i en koncern delas i två eller flera koncerner och inte längre ingår i samma moderföretags koncernredovisning.

Paragrafen motsvarar artikel 33.1 b och 33.4 i rådets direktiv (EU) 2022/2523 av den 14 december 2022 om säkerställande av en global minimiskattenivå för multinationella koncerner och storskaliga nationella koncerner i unionen, kallat minimibeskattningsdirektivet, och 6.1.1 c, och 6.1.3 i modellreglerna.

Paragrafen behandlar sådana förändringar i en koncern som innebär delning av en koncern.

Ändringarna i första styckets inledande avsnitt innebär dels att det framgår att paragrafen tillämpas på sådana koncerner som omfattas av lagens tillämpningsområde under delningsåret, dels att den prövning som ska göras enligt paragrafen görs för varje koncern för sig.

Första strecksatsen i första stycket ändras i två avseenden. För det första vad gäller delningsåret genom att formuleringen ”för det räkenskapsår då delningen sker” ersätts med ”för det första räkenskapsåret som avslutas närmast efter delningen”. Detta innebär dock ingen ändring i sak. För det andra ändras bestämmelsen så att det framgår att det efter en delning endast ska tas hänsyn till den aktuella koncernens intäkter vid bedömningen av om beloppsgränsen i 1 kap. 3 § är uppnådd för en koncern. När bestämmelsen tillämpas på de koncerner som finns efter delningen kommer prövningen av om beloppsgränsen i bestämmelsen är uppnådd alltså att göras för varje koncern för sig, utan att intäkterna i den eller de andra koncernerna räknas med. Det är alltså fråga om separata prövningar av de olika koncernerna.

I den andra strecksatsen görs motsvarande ändringar som i första strecksatsen avseende referensen till ett räkenskapsår som avslutas närmast efter delningen och till att prövningen avser varje koncern för sig. I slutet av strecksatsen ändras uttrycket ”minst två av dessa räkenskapsår” till ”minst två av de fyra räkenskapsår som avslutas närmast efter delningen” för att förtydliga att de räkenskapsår som beloppsgränsen på 750 miljoner euro i intäkter ska uppnås även inkluderar delningsåret.

Övervägandena finns i avsnitt 11.

2 kap.

1 § I detta kapitel finns definitioner av vissa begrepp samt förklaringar till hur vissa termer och uttryck används i denna lag. Det finns definitioner av vissa begrepp och förklaringar till hur vissa termer och uttryck används i lagen också i andra kapitel. Definitioner av följande begrepp samt förklaringar till hur vissa termer och uttryck används finns i nedan angivna paragrafer: allmänt erkänd redovisningsstandard i 20 § asymmetrisk vinst och förlust i utländsk valuta i 3 kap. 13 § balansvärde i 5 kap. 5 § beskattningsår i 24 § bestämmande inflytande i 14 § betydande snedvridning av konkurrensen i 3 kap. 7 § bokfört nettovärde av materiella tillgångar i 23 § delägarbeskattad enhet i 7 kap. 2 § delägd moderenhet i 13 § dotterföretag till ett samriskföretag i 7 kap. 44 § effektiv skattesats i 3 kap. 37 § enhet i 6 § första stycket fast driftställe i 7 kap. 17 § fastighetsinvesteringsföretag i 40 § försäkringsinvesteringsenhet i 41 § godkänd redovisningsstandard i 21 § godkänt utdelningsskattessystem i 31 § huvudenhet i 7 kap. 18 § huvudregel för tilläggsskatt i 4 § hybridenhet i 41 a § hör hemma i 1 kap. 11–16 §§ icke kvalificerat imputationsbelopp i 28 § icke marknadsmässigt överlåtbart skattetillgodohavande i 29 f § ideell organisation i 34 § internationell organisation i 33 § investeringsenhet i 38 § investeringsenhet för pensioner i 37 § investeringsfond i 39 § justerat resultat i 3 kap. 2 § justerad skattekostnad i 3 kap. 23 § kompletteringsregel för tilläggsskatt i 5 § koncern i 7 § koncernenhet i 8 § koncernredovisning i 19 § kvalificerat imputationsbelopp i 27 §

kvalificerat skatteincitament i 4 kap. 17 c §

kvalificerat skattetillgodohavande i 29 § andra och tredje styckena lågbeskattad koncernenhet i 44 § lågskattestat i 45 § marknadsmässigt överlåtbart skattetillgodohavande i 29 a–29 e §§ medräknade skatter i 3 kap. 24–26 §§ mellanliggande moderenhet i 12 § minimiskattesats i 25 § minoritetsägd koncernenhet i 7 kap. 42 § modellreglerna i 47 § moderenhet i 10 § moderföretag i 11 § myndighetsenhet i 32 § nettoskattekostnad i 3 kap. 8 §

offentligt organ i 6 § tredje stycket omorganisering i 7 kap. 59 § omvänd hybridenhet i 7 kap. 4 § pensionsenhet i 35 § pensionsfond i 36 § portföljinnehav i 17 § procentsats för tilläggsskatt i 3 kap. 38 § första stycket rapporterande enhet i 43 § redovisat resultat i 18 § regel om nationell tilläggsskatt i 3 § räkenskapsår i 22 § samriskföretag i 7 kap. 43 §

skattetillgodohavande i 29 § första stycket

skattetransparent enhet i 7 kap. 3 § stat i 46 § statslös koncernenhet i 48 § substansbelopp i 5 kap. 2 § svensk koncernenhet i 9 § system för beskattning av kontrollerade utländska företag i 26 § system med avdragsgill utdelning i 7 kap. 66 § särskild uppskjuten skattefordran i 4 kap. 13 § tilläggsskatt i 2 § tilläggsskattebelopp i 3 kap. 37–39 §§ tilläggsskatterapport i 42 § undantagna utdelningar i 3 kap. 9 § undantagen vinst och förlust avseende ägarintressen i 3 kap. 10 § undantagna enheter i 1 kap. 5–8 §§ värdet beträffande tilläggsskatt i 23 a § ägarenhet i 16 § ägarintresse i 15 § överskjutande vinst i 3 kap. 38 § andra stycket övrigt skattetillgodohavande i 30 §.

I paragrafen finns en lista över begrepp, termer och uttryck som definieras och förklaras i lagen. Listan kompletteras med de nya definitionerna av kvalificerat skatteincitament och skattetillgodohavande. Övervägandena finns i avsnitt 8.2 och 9.

Skattetillgodohavande och kvalificerat skattetillgodohavande

29 § Med skattetillgodohavande avses ett tillgodohavande som ger innehavaren rätt att minska skyldigheten att betala medräknade skatter i den stat som beviljar tillgodohavandet.

Med kvalificerat skattetillgodohavande avses

1. ett skattetillgodohavande med anspråk på återbetalning som är utformat på ett sådant sätt att det ska betalas kontant eller på något motsvarande sätt till en koncernenhet inom fyra år från den dag då koncernenheten har rätt att erhålla betalningen enligt lagstiftningen i den stat som beviljar detta, eller

2. om skattetillgodohavandet delvis återbetalas, den del av skattetillgodohavandet som ska betalas kontant eller på något motsvarande sätt till en koncernenhet inom fyra år från den dag då koncernenheten har rätt att erhålla detta belopp.

Ett kvalificerat skattetillgodohavande ska inte omfatta något skattebelopp som kan avräknas eller återbetalas på grundval av ett imputationsbelopp enligt 27 eller 28 §.

Första stycket i paragrafen saknar direkt motsvarighet i direktivet och modellreglerna, medan andra och tredje styckena motsvarar artikel 3.38 i direktivet och artikel 10.1.1 (qualified refundable tax credit) i modellreglerna. I paragrafen definieras vad som avses med kvalificerat skattetillgodohavande.

Genom ändringen flyttas bestämmelserna i nuvarande första och andra styckena till andra och tredje styckena. I andra stycket definieras uttrycket ”kvalificerat skattetillgodohavande”. I definitionen förtydligas att det ska vara fråga om ett skattetillgodohavande.

I det nya första stycket införs en definition av uttrycket skattetillgodohavande. Definitionen är hämtad från nuvarande 29 a § 2 med en något annorlunda redaktionell utformning. Innebörden av bestämmelsen är att med skattetillgodohavande avses ett tillgodohavande som ger innehavaren rätt att minska skyldigheten att betala medräknade skatter i den stat som beviljar tillgodohavandet. Det spelar ingen roll hur den minskade skyldigheten återspeglas i företagets redovisning. Kravet att ett skattetillgodohavande ska innebära en skattereduktion har inte tidigare framgått i definitionen av olika skattetillgodohavanden men behövs för att definitionen ska vara fullständig och överensstämma med vad som gäller enligt modellreglerna och minimibeskattningsdirektivet.

Övervägandena finns i avsnitt 9.

29 a § Med marknadsmässigt överlåtbart skattetillgodohavande avses ett

skattetillgodohavande

1. som inte är ett kvalificerat skattetillgodohavande, 2. som uppfyller kriteriet om överlåtbarhet i 29 b §, och 3. vars överlåtbarhet uppfyller kriteriet om marknadsmässighet i 29 c §.

Paragrafen saknar motsvarighet i direktivet men motsvarar punkt 112.1 i kommentaren till artikel 3.2.4 i modellreglerna.

I paragrafen definieras uttrycket marknadsmässigt överlåtbart skattetillgodohavande. I det inledande avsnittet förtydligas genom att ordet tillgodohavande byts ut mot skattetillgodohavande. Det medför i sin tur att nuvarande punkt 2 tas bort. Det som står i den punkten finns i stället i den nya definitionen av skattetillgodohavanden i 29 § första stycket. Till följd av att punkt 2 utgår numreras även nuvarande efterföljande punkter.

Övervägandena finns i avsnitt 9.

30 § Med övrigt skattetillgodohavande avses ett skattetillgodohavande som inte omfattas av 29 § andra stycket, 29 a eller 29 f §.

Paragrafen saknar motsvarar i direktivet, modellreglerna och kommentaren men framgår av punkt 41 i de administrativa riktlinjerna från juli 2023.

I paragrafen definieras uttrycket övrigt skattetillgodohavande. Enligt den nya lydelsen definieras uttrycket som ett skattetillgodohavande som inte omfattas av 29 § andra stycket, 29 a eller 29 f § dvs. ett skattetillgodohavande som inte är ett kvalificerat skattetillgodohavande, ett marknadsmässigt överlåtbart skattetillgodohavande eller ett icke marknadsmässigt överlåtbart skattetillgodohavande.

Övervägandena finns i avsnitt 9.

4 kap.

1 § I detta kapitel finns bestämmelser om

– val som påverkar det justerade resultatet (2–12 k §§), – val som påverkar den justerade skattekostnaden (13–17 d §§),

– tillkommande tilläggsskattebelopp när det sammanlagda justerade resultatet i en stat är en förlust (18–19 a §§),

– justering av skattekostnad i efterhand (20–24 §§), och

– uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar vid övergången till systemet (25–28 b §§).

I paragrafen anges vilka bestämmelser som kapitlet innehåller. Ändringen i andra strecksatsen är redaktionell och innebär att de nya bestämmelser som införs i kapitlet läggs till.

Kvalificerat skatteincitament

17 a § Vid tillämpning av 3 kap. 37 § får den rapporterande enheten välja att de sammanlagda justerade skattekostnaderna ska ökas med ett belopp som motsvarar skatteeffekten av ett kvalificerat skatteincitament. Ökningen får inte överstiga det högsta av följande belopp:

1. 5,5 procent av personalkostnaderna enligt 5 kap. 3 §, och

2. 5,5 procent av de redovisade kostnaderna för avskrivningar på tillgångar som avses i 5 kap. 4 § i den stat där koncernenheterna hör hemma.

Vid tillämpning av första stycket ska

– personalkostnader i 1 även omfatta sådana kostnader som anges i 5 kap. 3 §

andra stycket 1, och

– redovisade kostnader för avskrivningar i 2 inte omfatta avskrivningar på sådana tillgångar som avses i 5 kap. 4 a §.

Den rapporterande enheten får, i stället för vad som anges i första stycket 1 och 2, välja att det belopp som skattekostnaden ska ökas med får uppgå till högst 1 procent av det redovisade värdet av sådana tillgångar som avses i 5 kap. 4 § och som finns i den stat där koncernenheterna hör hemma. Värdet av mark, övriga icke avskrivningsbara tillgångar och sådana tillgångar som avses i 5 kap. 4 a § ska inte ingå i det redovisade värdet. Ett sådant val gäller i fem år från och med det räkenskapsår som valet avser. Därefter fortsätter valet att gälla, om den rapporterande enheten inte återkallar valet. Om valet återkallas kan ett nytt val göras först fem år efter det år som återkallelsen avser. Om valet återkallas ska tillgångar som har omfattats av valet undantas från beräkningen enligt första stycket 2.

Paragrafen, som är ny, har sin grund i avsnitt 4 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 2.3 i annex A i kommentaren till modellreglerna. I paragrafen regleras behandlingen av kvalificerade skatteincitament. Av första stycket framgår att den rapporterande enheten kan välja att öka de sammanlagda justerade skattekostnaderna med ett belopp som motsvarar skatteeffekten av ett kvalificerat skatteincitament. Valmöjligheten gäller vid tillämpningen av 3 kap. 37 § vilket innebär att valet görs vid beräkningen av den sammanlagda skattekostnaden för samtliga koncernenheter i staten. Kvalificerat skatteincitament definieras i 17 b § och skatteeffekt av ett kvalificerat skatteincitament definieras i 17 c §. Ökningen av de sammanlagda justerade skattekostnaderna begränsas av ett takbelopp som kan beräknas enligt två alternativa regler, en huvudregel och en alternativregel. Huvudregeln finns i första stycket och

alternativregeln finns i tredje stycket. Utgångspunkten för båda reglerna är att beräkningen baseras på samma parametrar som används för beräkning av substansbeloppet i 5 kap.

Vid beräkning av takbeloppet enligt huvudregeln i första stycket får ökningen av de sammanlagda justerade skattekostnaderna inte överstiga det högsta av antingen 5,5 procent av personalkostnader enligt 5 kap. 3 § (punkt 1), eller 5,5 procent av kostnader för avskrivningar på tillgångar som avses i 5 kap. 4 § i den stat där koncernenheterna hör hemma (punkt 2). Även avskrivningar på sådana tillgångar som ska behandlas som materiella tillgångar enligt 5 kap. 4 § tredje stycket (naturresurser, leasetagares nyttjanderättigheter och licenser) får ingå vid beräkning enligt punkt 2. Med avskrivning avses även redovisad minskning av värdet på exempelvis gruvor på grund av utvinning.

I andra stycket finns två bestämmelser som kompletterar regeln i första stycket. Enligt första strecksatsen ska personalkostnaderna i punkt 1 även omfatta sådana kostnader som läggs till balansvärdet för materiella anläggningstillgångar trots att sådana kostnader inte får ingå vid beräkning av substansbeloppet enligt 5 kap. 3 § andra stycket 1. Enligt andra strecksatsen omfattar de redovisade kostnaderna för avskrivningar i punkt 2 inte avskrivningar på sådana tillgångar som avses i 5 kap. 4 a §, dvs. materiella anläggningstillgångar som innehas för försäljning, leasing eller investering eller som omfattas av undantaget för sjöfartsverksamhet. Enligt 5 kap. 4 a § ska sådana tillgångar inte ingå i beräkningen enligt 5 kap. 4 §, men för att undvika missförstånd införs ett uttryckligt undantag för avskrivningar på sådana tillgångar även i den här paragrafen.

I tredje stycket finns den alternativa regeln för beräkning av takbeloppet. Enligt denna får den rapporterande enheten – i stället för vad som följer av första stycket 1 och 2 – välja ett belopp som motsvarar 1 procent av det redovisade värdet av sådana tillgångar som avses i 5 kap. 4 § i den stat där koncernenheterna hör hemma. Vissa tillgångar får dock inte ingå i underlaget. Det gäller mark, övriga icke avskrivningsbara tillgångar och sådana tillgångar som avses i 5 kap. 4 a § (dvs. materiella anläggningstillgångar som innehas för försäljning, leasing eller investering eller som omfattas av undantaget för sjöfartsverksamhet).

Om den rapporterande enheten väljer att tillämpa alternativregeln i tredje stycket så gäller detta val i fem år från och med det räkenskapsår som valet avser. Efter femårsperioden fortsätter valet att gälla om det inte återkallas. Om valet återkallas kan ett nytt val att tillämpa alternativregeln göras först fem år efter det år som återkallelsen avser. Om valet återkallas och koncernen i stället tillämpar punkt 2 i första stycket (avskrivningar på materiella tillgångar) får avskrivningar på sådana tillgångar som har omfattats av valet inte ingå i de avskrivningar som ligger till grund för beräkningen av takbeloppet. Det innebär att avskrivningar på sådana tillgångar som har ingått i beräkningen enligt alternativregeln i tredje stycket de år denna regel har tillämpats inte får räknas med.

Övervägandena finns i avsnitt 8.2.

17 b § Med kvalificerat skatteincitament avses ett allmänt tillgängligt skatteincitament till den del det är utgiftsbaserat eller produktionsbaserat. Ett skatteincitament är ett incitament som minskar skyldigheten att betala aktuella eller framtida medräknade skatter. Ett skatteincitament är utgiftsbaserat om det

baseras på utgifter som en koncernenhet har haft när incitamentet beviljas och summan av skatteeffekten av incitamentet och övriga skatteincitament för samma utgift inte överstiger den utgift som incitamentet baseras på. Ett skatteincitament är produktionsbaserat om det baseras på volymen av materiella tillgångar, inklusive elektricitet, som har producerats i staten när incitamentet beviljas.

Paragrafen, som är ny, har sin grund i avsnitt 4 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 2.3 i annex A i kommentaren till modellreglerna.

I paragrafen definieras begreppet ”kvalificerat skatteincitament”.

Med ett kvalificerat skatteincitament avses ett allmänt tillgängligt skatteincitament till den del det är utgiftsbaserat eller produktionsbaserat. Med skatteincitament avses ett incitament som minskar skyldigheten att betala sådana aktuella eller framtida skatter som enligt 3 kap. 24–26 §§ räknas med vid beräkningen av den justerade skattekostnaden. Definitionen av skatteincitament är likartad den som gäller för skattetillgodohavanden i förslaget till 2 kap. 29 § första stycket. Den huvudsakliga skillnaden ligger i att definitionen i 2 kap. 29 § använder uttrycket ”tillgodohavande” medan denna paragraf använder uttrycket ”incitament”. Begreppet ”skatteincitament” är ett bredare begrepp än begreppet ”skattetillgodohavande”. Ett skattetillgodohavande kan bara ges i form av en skattereduktion medan ett skatteincitament även omfattar andra åtgärder som sänker skattekostnaden såsom exempelvis skattemässiga avdrag som överstiger 100 procent av en utgift. Att ett incitament är allmänt tillgängligt innebär att incitamentet inte får riktas till enskilda företag eller till särskilda kategorier av företag, exempelvis sådana företag som omfattas av systemet med tilläggsskatt.

Vidare måste incitamentet vara antingen utgiftsbaserat eller produktionsbaserat. Med utgiftsbaserat menas att det baseras på utgifter som en koncernenhet har haft när incitamentet beviljas. Det får alltså inte baseras på utgifter som kommer att uppstå någon gång i framtiden. En koncern anses ha haft en utgift när den tas med i redovisningen och används vid beräkning av det redovisade resultatet eller vid betalningen. Det är inte nödvändigt att en förvärvad tillgång har börjat skrivas av eller ens får skrivas av. Incitament kan även betraktas som utgiftsbaserade om de grundas på avskrivningar under räkenskapsåret avseende tillgångar som har förvärvats ett tidigare räkenskapsår eller om det grundas på utgifter som har uppstått ett tidigare räkenskapsår (utom sådana utgifter som uppkom innan incitamentet trädde i kraft). Utgiftsbaserade incitament kan ges på olika sätt, exempelvis i form av en skattereduktion, ett avdrag med mer än 100 procent av en utgift (superavdrag) eller genom att en inkomst är skattefri eller beskattas med än lägre skattesats än den allmänt tillämpliga. Stöd i form av skattefria eller lågbeskattade inkomster måste dock ha en direkt koppling till utgifter för att klassificeras som ett utgiftsbaserat incitament. Slutligen får incitamentet inte vara så stort att summan av skatteeffekten av incitamentet (se 17 c §) och övriga skatteincitament för samma utgift överstiger den utgift som incitamentet baseras på. Eftersom uttrycket skatteincitament betyder ett incitament som minskar medräknade skatter kommer incitament som sänker andra skatter, exempelvis arbetsgivaravgifter, inte att ingå i den sammanlagda beräkningen.

Med ett produktionsbaserat skatteincitament menas ett skatteincitament som baseras på volymen av materiella tillgångar som har producerats i staten där incitamentet beviljas. Sådana incitament ges generellt i form av skattereduktioner. I detta sammanhang räknas elektricitet som en materiell tillgång. Även exempelvis utvinning ur gruvor och raffinering av olja omfattas. Det är den producerade volymen som ska grunda incitamentet, inte värdet av produktionen.

Övervägandena finns i avsnitt 8.2.

17 c § Med skatteeffekt av ett kvalificerat skatteincitament avses något av följande:

1. den minskning av skyldigheten att betala medräknade skatter som uppkommer för ett beskattningsår på grund av ett utnyttjat skatteincitament i form av en skattereduktion,

2. den del av ett kostnadsavdrag för ett beskattningsår som överstiger 100 procent av utgiften multiplicerad med bolagsskattesatsen,

3. ett kostnadsavdrag för ett beskattningsår som annars inte skulle ha varit avdragsgillt enligt lokala skatteregler multiplicerat med bolagsskattesatsen,

4. en skattefri inkomst multiplicerad med bolagsskattesatsen, eller

5. en inkomst som beskattas med en lägre skattesats än den generellt tillämpliga bolagsskattesatsen multiplicerad med skillnaden mellan dessa skattesatser.

Paragrafen, som är ny, har sin grund i avsnitt 4 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 2.3 i annex A i kommentaren till modellreglerna.

I paragrafen definieras uttrycket ”skatteeffekt av ett kvalificerat skatteincitament”. Detta behövs för att bestämma hur stor del av ett kvalificerat skatteincitament som får användas enligt 17 a § första stycket. Beräkningen av skatteeffekten beror på vilken form som incitamentet har.

Första punkten avser incitament som ges i form av en skattereduktion. För sådana incitament uppgår skatteeffekten till den minskning av skyldigheten att betala medräknade skatter som har uppkommit för ett beskattningsår på grund av ett utnyttjat skatteincitament.

Andra punkten avser incitament i form av kostnadsavdrag som överstiger utgiften (superavdrag). För sådana incitament är skatteeffekten den del av ett kostnadsavdrag för ett beskattningsår som överstiger 100 procent av utgiften multiplicerad med bolagsskattesatsen. Om ett incitament innebär att koncernen får göra ett extra avdrag med exempelvis 50 procent (dvs. ett totalt avdrag med 150 procent) uppgår skatteeffekten till 50 procent av utgiften multiplicerad med bolagsskattesatsen.

Tredje punkten avser incitament som ges i form av avdragsrätt för en kostnad som annars inte skulle ha varit avdragsgill enligt lokala skatteregler. För sådana incitament uppgår skatteeffekten till avdraget multiplicerat med bolagsskattesatsen.

Fjärde punkten avser incitament i form av en skattefri inkomst. För sådana incitament uppgår skatteeffekten till inkomsten multiplicerad med bolagsskattesatsen.

Femte punkten avser stöd som innebär att en inkomst beskattas med en lägre skattesats än den generellt tillämpliga bolagsskattesatsen. För sådana stöd uppgår skatteeffekten till inkomsten multiplicerad med skillnaden mellan den lägre skattesatsen och den generellt tillämpliga skattesatsen.

För både skattefria och lågbeskattade inkomster (punkt 4 och 5) gäller att det inte kan vara fråga om vilka skattefria eller lågbeskattade inkomster

som helst. Inkomsten måste vara kopplad till sådana utgifter som ger upphov till ett utgiftsbaserat skatteincitament enligt 17 b §.

Övervägandena finns i avsnitt 8.2

Kvalificerat respektive marknadsmässigt överlåtbart skattetillgodohavande

17 d § Den rapporterande enheten får, i stället för vad som anges i 3 kap. 18– 18 c §§, välja att behandla hela eller delar av ett kvalificerat skattetillgodohavande eller ett marknadsmässigt överlåtbart skattetillgodohavande som ett kvalificerat skatteincitament om skattetillgodohavandet uppfyller villkoren i 17 b §.

Paragrafen, som är ny, har sin grund i avsnitt 4 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 2.3 i annex A i kommentaren till modellreglerna.

I paragrafen finns en möjlighet för den rapporterande enheten att välja att behandla hela eller delar av ett kvalificerat skattetillgodohavande eller ett marknadsmässigt överlåtbart skattetillgodohavande som ett kvalificerat skatteincitament. Kvalificerade skattetillgodohavanden definieras i 2 kap. 29 § och marknadsmässigt överlåtbara skattetillgodohavanden definieras i 2 kap. 29 a §. Valmöjligheten gäller dock bara om skattetillgodohavandet uppfyller villkoren i 17 b §, dvs. det ska vara allmänt tillgängligt och utgifts- eller produktionsbaserat. Valet behöver inte avse alla skattetillgodohavanden som koncernen har och valet kan avse bara en viss del av ett skattetillgodohavande. Valet gäller i ett år. När valet utnyttjas gäller 4 kap. 17 a–17 c §§, i stället för de vanliga reglerna i 3 kap. 18–18 c §§. Den del av ett skattetillgodohavande som inte omfattas av ett val ska behandlas enligt de vanliga reglerna för skattetillgodohavanden.

Övervägandena finns i avsnitt 8.2.

25 § Vid fastställande av den effektiva skattesatsen för koncernenheter i en stat för ett övergångsår enligt 26 § och för varje därpå följande räkenskapsår ska alla de uppskjutna skattefordringar och uppskjutna skatteskulder som återspeglas eller redovisas i alla koncernenheters räkenskaper i en stat beaktas för övergångsåret. Detta gäller dock inte om de uppskjutna skattefordringarna och uppskjutna skatteskulderna avser skatt enligt ett sådant system för beskattning av kontrollerade utländska företag som avses i 2 kap. 26 §, och skatten för kontrollerade utländska företag enligt detta system beräknas gemensamt för samtliga sådana företag.

Uppskjutna skattefordringar och uppskjutna skatteskulder ska räknas med utifrån den skattesats som är lägst av minimiskattesatsen och den tillämpliga nationella skattesatsen. En uppskjuten skattefordran som har redovisats till en skattesats som är lägre än minimiskattesatsen får dock räknas om enligt minimiskattesatsen om den skattskyldige kan visa att den uppskjutna skattefordran är hänförlig till en justerad förlust.

Effekter som uppstår när värdet på en uppskjuten skattefordran justeras eller när principer för att ta upp en sådan fordran i räkenskaperna ändras ska inte påverka värdet av den uppskjutna skattefordran.

Paragrafen motsvarar artikel 47.2 i direktivet och artikel 9.1.1 i modellreglerna.

I paragrafen behandlas uppskjutna skattefordringar och uppskjutna skatteskulder som förs in i systemet.

Ändringen i första stycket innebär att det klargörs att uppskjutna skattefordringarna och uppskjutna skatteskulder som avser skatt enligt ett sådant 67

system för beskattning av kontrollerade utländska företag som avses i 2 kap. 26 § som beräknar skatten för kontrollerade utländska företag gemensamt för samtliga sådana företag inte får föras in i systemet under ett övergångsår. Vad som avses med övergångsår framgår av 26 §.

Övervägandena finns i avsnitt 10.3.

26 § Med övergångsår för en stat avses det första räkenskapsår då en koncern omfattas av lagens tillämpningsområde i fråga om den staten.

Paragrafen motsvarar artikel 47.1 i direktivet och artikel 10.1.1 (transition year) i modellreglerna.

I paragrafen definieras uttrycket övergångsår för en stat, vilket är centralt för tillämpningen av bestämmelserna om uppskjutna skattefordringar, uppskjutna skatteskulder och överförda tillgångar vid övergången till systemet. Ändringen i paragrafen innebär att med övergångsår för en stat ska avses det första räkenskapsår då en koncern omfattas av lagens tillämpningsområde med avseende på den staten. Om exempelvis koncern A, vilken omfattas av lagens tillämpningsområde redan från 2024, under 2026 avyttrar koncernenhet C i stat C till koncern B, vilken inte omfattas av lagens tillämpningsområde vad avser stat C, så blir 2026 koncern B:s övergångsår för stat C. Om däremot koncern B redan vid förvärvet av C omfattades av lagens tillämpningsområde vad avser stat C så får koncern B inte ett nytt övergångsår för stat C till följd av förvärvet.

Övervägandena finns i avsnitt 10.2.

27 § Uppskjutna skattefordringar och uppskjutna skatteskulder som avses i 25 § ska inte justeras enligt 3 kap. 34 eller 35 §.

Uppskjutna skattefordringar som härrör från sådana poster som enligt 3 kap. inte ska ingå vid beräkningen av det justerade resultatet ska dock undantas från den beräkning som avses i 25 § när sådana uppskjutna skattefordringar uppkommer i en transaktion som har ägt rum efter den 30 november 2021.

Följande uppskjutna skattefordringar och uppskjutna skatteskulder ska undantas från den beräkning som avses i 25 §:

1. uppskjutna skattefordringar som uppstått på grund av en sådan överenskommelse med myndigheterna i en stat som har ingåtts eller ändrats efter den 30 november 2021,

2. uppskjutna skattefordringar som har uppstått då en koncernenhet har gjort eller ändrat ett val efter den 30 november 2021, om valet retroaktivt ändrar behandlingen av en transaktion som har ingått i koncernenhetens beskattningsbara inkomst ett tidigare beskattningsår,

3. uppskjutna skattefordringar och uppskjutna skatteskulder som har uppstått till följd av att en koncernenhet har använt ett annat skattemässigt värde än det bokförda värdet vid övergången till systemet när bolagsskatt har införts i en stat efter den 30 november 2021 men före övergångsårets början, och

4. en uppskjuten skattefordran till den del fordran beror på en förlust som har uppstått mer än fem räkenskapsår innan bolagsskatt har införts i en stat.

Paragrafen motsvarar artikel 47.3 i direktivet och artikel 9.1.2 i modellreglerna.

Paragrafen innehåller en begränsning avseende de uppskjutna skattefordringar och uppskjutna skatteskulder som kan föras in i systemet.

I tredje stycket, som är nytt, anges vissa särskilt utpekade uppskjutna skattefordringar och uppskjutna skatteskulder som ska undantas från

beräkningen av den effektiva skattesatsen för övergångsåret och varje därpå följande räkenskapsår i enlighet med 25 §. Ändringen föreslås träda i kraft den 1 januari 2027 och tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026 (se punkt 2 i ikraftträdande- och övergångsbestämmelserna). Det innebär att för räkenskapsår som avslutas efter detta datum får sådana fordringar och skulder inte räknas med.

Av första punkten framgår att uppskjutna skattefordringar som uppstått på grund av en överenskommelse med myndigheterna i en stat som ingåtts eller ändrats efter den 30 november 2021 inte får beaktas vid beräkningen enligt 25 §. Uppskjutna skattefordringar som inte uppstått på grund av en sådan överenskommelse får beaktas vid beräkningen enligt 25 §.

Av andra punkten framgår att uppskjutna skattefordringar som uppstått då en koncernenhet gjort eller ändrat ett val efter den 30 november 2021 som retroaktivt ändrat behandlingen av en transaktion som har ingått i koncernenhetens beskattningsbara inkomst ett tidigare beskattningsår inte får beaktas. Det val som avses i punkten är inte ett sådant val som följer av reglerna om minimibeskattning. Med en koncernenhets beskattningsbara inkomst avses t.ex. att koncernenhetens inkomst har fastställts av skattemyndigheten i en stat eller att inkomsten framgått av en lämnad deklaration.

Av tredje punkten framgår att uppskjutna skattefordringar och uppskjutna skatteskulder som uppstått till följd av att en koncernenhet använt ett annat skattemässigt värde än det bokförda värdet vid övergången till systemet när ett bolagsskattesystem har införts i en stat efter den 30 november 2021 men före övergångsårets början inte får beaktas vid beräkningen enligt 25 §. Eftersom bestämmelsen avser både uppskjutna skattefordringar och uppskjutna skatteskulder ska bestämmelsen tillämpas oavsett om det skattemässiga värdet är högre eller lägre än det bokförda värdet. Detta följer av uttrycket ”ett annat skattemässigt värde”.

Av fjärde punkten framgår att en uppskjuten skattefordran till den del fordran beror på en förlust som har uppstått mer än fem räkenskapsår innan bolagsskatt har införts i en stat inte får beaktas. Av punkt 8.7 i kommentaren till artikel 9.1.2 i modellreglerna, vilken motsvarar andra stycket i paragrafen, följer att den allmänna regeln i den artikeln gäller för uppskjutna skattefordringar som avser förluster som uppkommit mindre än fem år innan bolagsskatt införts på samma sätt som för en förlust enligt befintlig bolagsskatt. Det gäller till den del förlusten härrör från en post som enligt 3 kap. inte ska ingå vid beräkningen av det justerade resultatet och som därmed ska undantas från den beräkning som avses i 25 § när sådana uppskjutna skattefordringar uppkommer i en transaktion som har ägt rum efter den 30 november 2021. Detta kan exempelvis gälla mutor. I Sverige är mutor olagliga. Om ett dotterföretag till ett svenskt företag betalar mutor ska därför kostnaden för detta inte räknas med i det justerade resultatet (3 kap. 14 § 1). Om dotterföretaget finns i en stat som inför bolagsskatt från och med exempelvis 2027 ska en fordran för uppskjuten skatt som avser en förlust som uppkom under räkenskapsåren 2022–2026 undantas till den del förlusten beror på mutan.

Övervägandena finns i avsnitt 10.1.

7 kap.

67 § Den justerade vinsten för ett moderföretag i en koncern som omfattas av ett system med avdragsgill utdelning ska minskas, dock lägst till noll, med belopp som delas ut som avdragsgill utdelning inom tolv månader efter utgången av det räkenskapsår som den justerade vinsten avser, om

1. mottagaren beskattas för utdelningen med en skattesats som är lika med eller högre än minimiskattesatsen och inkomsten hänförs till ett beskattningsår som avslutas senast tolv månader efter utgången av räkenskapsåret, eller

2. det rimligen kan förväntas att det sammanlagda beloppet av medräknade skatter för moderföretaget och skatt som mottagaren betalar på utdelningen är lika med eller överstiger den utdelande enhetens inkomst multiplicerad med minimiskattesatsen.

Vid tillämpningen av bestämmelserna i första stycket ska mottagaren anses ha beskattats för utdelning som lämnats i förhållande till inköp från ett inköpskooperativ till den del utdelningen minskar en avdragsgill utgift eller kostnad.

Paragrafen motsvarar artikel 39.2 och 39.6 i direktivet och artikel 7.2.1 och 7.2.4 i modellreglerna. Paragrafen föreskriver särskilda regler för moderföretag som omfattas av system med avdragsgill utdelning. Dessa enheters effektiva skattesats skulle kunna bli noll eller åtminstone mycket låg enligt de allmänna reglerna i 3 kap. och resultera i tilläggsskatt, trots att en skattekostnad på inkomsten belastar delägarna. Skattekostnader på moderföretagets inkomst som belastar delägare som inte är koncernenheter ska därför beaktas, om de medför en beskattning av inkomsten som överstiger minimiskattesatsen. Ändringen i första stycket innebär att paragrafen anpassas för att överensstämma med motsvarande bestämmelser i minimibeskattningsdirektivet och modellreglerna genom att det anges att justeringar ska göras så att den justerade vinsten blir lägst noll. Övervägandena finns i avsnitt 12.

68 § Den justerade vinsten för ett moderföretag i en koncern som omfattas av ett system med avdragsgill utdelning ska, utöver vad som anges i 67 §, minskas, dock lägst till noll, med det belopp som delas ut som avdragsgill utdelning inom tolv månader efter utgången av det räkenskapsår som den justerade vinsten avser, om mottagaren är

1. en fysisk person som är medlem i ett inköpskooperativ, och utdelningen lämnas i förhållande till gjorda inköp,

2. en fysisk person som har skatterättslig hemvist och är skattskyldig i den stat där moderföretaget hör hemma och dennes ägarintressen ger rätt till högst fem procent av vinst och tillgångar i moderföretaget, eller

3. ett offentligt organ, en myndighetsenhet, en internationell organisation, en ideell organisation eller en pensionsfond som hör hemma i den stat där moderföretaget hör hemma.

Paragrafen motsvarar artikel 39.3 i direktivet och artikel 7.2.1 i modellreglerna. I de fall som anges i paragrafen ska moderföretagets justerade vinst, utöver de situationer som anges i 67 §, minskas med belopp som kan hänföras till mottagare som uppfyller kriterierna i paragrafen. I paragrafen uppställs inget krav på beskattning av utdelningen hos mottagaren.

Ändringen i paragrafen innebär att paragrafen anpassas för att överensstämma med motsvarande bestämmelser i minimibeskattningsdirektivet och modellreglerna genom att det anges att justeringar ska göras så att den justerade vinsten blir lägst noll. Övervägandena finns i avsnitt 12.

8 kap.

1 § I detta kapitel finns bestämmelser om

– tidsgräns för den tillfälliga förenklingsregeln (2 §), – villkor för den tillfälliga förenklingsregeln (3–7 a §§), – särskilda enheter och koncerner (8–11 §§), – verkan av konstlade arrangemang (11 a–11 g §§), – undantag från tillämpningen av den tillfälliga förenklingsregeln (12 §), – övergångsår (13 §), – förenkling av kompletteringsregeln för tilläggsskatt (14 §), – en förenklingsregel för koncernenheter utan väsentlig betydelse för koncernredovisningen (15–17 §§), – en förenklingsregel för utländsk nationell tilläggsskatt (18 §),

– förenklingsregler när moderföretag hör hemma i en stat med ett parallellt

minimibeskattningssystem (18 a och 18 b §§), och

– val (19 §).

I paragrafen anges vilka bestämmelser som kapitlet innehåller. Ändringen är redaktionell och innebär att de nya bestämmelser som införs i kapitlet läggs till.

2 § Bestämmelserna i 3–13 §§ gäller för koncernenheter i en stat för tid som

– motsvarar de räkenskapsår som gäller för enheternas moderföretag, och – börjar närmast efter den 31 december 2023 men före den 1 januari 2028.

Bestämmelserna gäller dock inte för räkenskapsår som avslutas efter den 30 juni 2029.

Paragrafen har sin grund i punkt 24 i avsnitt 1 i annex A i kommentaren till modellreglerna och i avsnitt 3 i de administrativa riktlinjerna från januari 2026. Paragrafen innehåller bestämmelsen om vilken tidsperiod som den tillfälliga förenklingsregeln är tillämplig. Ändringen innebär att tidsbegränsningen förlängs ett år. Övervägandena finns i avsnitt 6.1.

4 § Tilläggsskattebeloppet för koncernenheterna i en stat ska anses vara noll, om koncernenheterna tillsammans har en effektiv skattesats som är lika med eller större än den procentsats som anges i tredje stycket. Den effektiva skattesatsen ska motsvara kvoten mellan koncernenheternas skattekostnad enligt andra stycket och deras vinst eller förlust före inkomstskatt enligt koncernens kvalificerade land-förland-rapport.

Med skattekostnad avses i första stycket sådan skattekostnad som redovisas i koncernens kvalificerade finansiella rapport minskad med skatter som inte är medräknade skatter och medräknade skatter som hänför sig till en osäker skattesituation. Skattekostnaden ska även minskas med belopp som återförs i redovisningen och som avser uppskjutna skattefordringar enligt 4 kap. 27 § tredje stycket 1–3.

Procentsatsen enligt första stycket ska vara – 15 procent för räkenskapsår som börjar under 2024, – 16 procent för räkenskapsår som börjar under 2025, och – 17 procent för räkenskapsår som börjar under 2026 och 2027.

Paragrafen har sin grund i artikel 32 i direktivet, avsnitt 1 i annex A i kommentaren till modellreglerna, punkt 8.6 i kommentaren till artikel

9.1.2 i modellreglerna (de administrativa riktlinjerna från januari 2025), punkt 20 i avsnitt 1 i annex A i kommentaren till modellreglerna (punkt 5 i avsnitt 3 i de administrativa riktlinjerna från januari 2026). I paragrafen regleras det andra testet som omfattas av den tillfälliga förenklingsregeln, ETR-testet (Effective Tax Rate). Ändringen i andra stycket innebär att skattekostnaden ska minskas med belopp som återförs i redovisningen och som avser uppskjutna skattefordringar enligt 4 kap. 27 § tredje stycket 1–3. Ändringen i tredje stycket innebär att procentsatsen 17 procent som gäller för räkenskapsår som börjar under 2026 också ska gälla för räkenskapsår som börjar under 2027. Övervägandena finns i avsnitt 6.1 och 10.1.

9 § Vid tillämpningen av 3–7 §§ gäller följande för moderföretag som är delägarbeskattade enheter eller enheter som omfattas av ett system med avdragsgill utdelning. Vinsten före bolagsskatt ska minskas, dock lägst till noll, i den utsträckning som beloppet är hänförligt till en persons ägarintresse i den delägarbeskattade enheten eller utdelat till följd av en ägarandel som innehas av en sådan person.

Med person avses i första stycket en sådan innehavare av ett ägarintresse som bestämmelserna i 7 kap. 12 och 13 §§ avser eller sådana mottagare som bestämmelserna i 67 och 68 §§ avser.

För delägarbeskattade enheter gäller första stycket bara om samtliga ägarintressen i moderföretaget innehas av någon som avses i 7 kap. 12 och 13 §§.

Paragrafen har sin grund i artikel 32 i direktivet och avsnitt 1 annex A i kommentaren till modellreglerna. I denna paragraf regleras tillämpning av den tillfälliga förenklingsregeln för delägarbeskattade enheter och moderföretag som omfattas av bestämmelser om avdragsgill utdelning. Ändringen i första stycket innebär att den minskning av vinsten före bolagsskatt som ska ske enligt paragrafen, ska göras lägst till noll. Övervägandena finns i avsnitt 12.

14 § Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för den stat där moderföretaget hör hemma om bolagsskattesatsen i den staten uppgår till minst 20 procent för varje räkenskapsår under övergångsperioden.

Med övergångsperioden avses de räkenskapsår som inte omfattar mer än tolv månader och som börjar den 31 december 2025 eller tidigare och slutar före den 31 december 2026. Med övergångsperioden avses också de räkenskapsår som enligt tillämplig redovisningsstandard är 52 eller 53 veckor och som börjar den 31 december 2025 eller tidigare och slutar före den 4 januari 2027.

Paragrafen har sin grund i punkt 1–7 i avsnitt 4 i annex A i kommentaren till modellreglerna.

I denna paragraf regleras tillämpning av den tillfälliga förenklingsregeln för kompletteringsregeln för tilläggsskatt.

Ändringen i andra stycket innebär att bestämmelsen tillförs en ny mening med som kompletterar definitionen av uttrycket övergångsperioden som används i bestämmelsens första stycke. Med övergångsperioden avses också de räkenskapsår som enligt tillämplig redovisningsstandard är 52 eller 53 veckor och som börjar den 31 december 2025 eller tidigare och slutar före den 4 januari 2027.

Övervägandena finns i avsnitt 6.2.

Förenklingsregler när moderföretag hör hemma i en stat med ett parallellt

minimibeskattningssystem

18 a § Tilläggsskattebeloppet enligt huvud- och kompletteringsregeln för tilläggsskatt ska anses vara noll för koncernenheter om moderföretaget hör hemma i en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst som är godkänt av OECD/G20 Inclusive Framework on BEPS.

Det som sägs om koncernenheter i första stycket gäller också för samriskföretag och dotterföretag till samriskföretag som tillhör en koncern vars moderföretag uppfyller villkoret i första stycket. Det gäller dock bara för koncernens andel av tilläggsskattebeloppet.

Paragrafen, som är ny, har sin grund i avsnitt 5.1 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 5 i annex A i kommentaren. Paragrafen innebär att koncerner vars moderföretag hör hemma i en stat med ett godkänt s.k. Side-by-Side-system (Qualified Sideby-Side Regime) får välja att tillämpa en förenklingsregel som undantar koncernen samt dess samriskföretag och dotterföretag till samriskföretag, från tillämpning av huvud- och kompletteringsregeln för tilläggsskatt (Side-by-Side Safe Harbour). Den nedsättning som följer av paragrafen ska ske om den rapporterande enheten gör ett val enligt 19 §.

I första stycket anges att tilläggsskattebeloppet enligt huvud- och kompletteringsregeln för tilläggsskatt ska anses vara noll för koncernenheter om moderföretaget hör hemma i stat som är godkänd av OECD/G20 Inclusive Framework on BEPS som en stat med ett parallellt system för minimibeskattning av inhemsk och utländsk inkomst.

I andra stycket anges att det som sägs om koncernenheter i första stycket också gäller för samriskföretag och dotterföretag till samriskföretag om företaget tillhör en koncern vars moderföretag uppfyller villkoret i första stycket. Det gäller dock bara för koncernens andel av tilläggsskattebeloppet. Ett samriskföretag och ett dotterföretag till ett samriskföretag ingår inte i en koncern. I stället används uttrycket ”tillhör en koncern” i paragrafen.

Övervägandena finns i avsnitt 7.1.

18 b § Tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för den stat där moderföretaget hör hemma om den staten har ett parallellt system för minimibeskattning av inhemsk inkomst som är godkänt av OECD/G20 Inclusive Framework on BEPS.

Paragrafen, som är ny, har sin grund i avsnitt 5.2 i de administrativa riktlinjerna från januari 2026 som finns införda i avsnitt 5 i annex A i kommentaren. Paragrafen innebär att koncerner vars moderföretag hör 73

hemma i en stat med ett godkänt system (Qualified UPE [Ultimate Parent Entity] System) får välja att tillämpa en förenklingsregel som undantar koncernen samt dess samriskföretag och dotterföretag till samriskföretag, från tillämpning av kompletteringsregeln för tilläggsskatt vad avser den stat där moderföretaget hör hemma (UPE Safe Harbour). Den nedsättning som följer av paragrafen ska ske om den rapporterande enheten gör ett val enligt 19 §.

I paragrafen anges att tilläggsskattebeloppet enligt kompletteringsregeln för tilläggsskatt ska anses vara noll för den stat där ett moderföretag hör hemma om den staten har ett parallellt system för minimibeskattning av inhemsk inkomst om är godkänt av OECD/G20 Inclusive Framework on BEPS. Nedsättningen till noll ska även omfatta tilläggsskatt enligt kompletteringsregeln som avser samriskföretag och dotterföretag till samriskföretag som tillhör en koncern vars moderföretag uppfyller villkoren och som hör hemma i den staten. Det gäller dock bara för den koncernens andel av tilläggsskattebeloppet för samriskföretaget och dotterföretaget till samriskföretaget. Ett samriskföretag och ett dotterföretag till ett samriskföretag ingår inte i en koncern. I stället används uttrycket ”tillhör en koncern” i paragrafen.

Övervägandena finns i avsnitt 7.2.

Ikraftträdande- och övergångsbestämmelser

1. Denna lag träder i kraft den 1 januari 2027.

2. Lagen tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2026 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2026.

3. Den rapporterande enheten får tillämpa samtliga eller vissa av bestämmelserna första gången för beskattningsår som börjar närmast efter den 31 december 2024 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2024. Bestämmelserna i 4 kap. 17 a–17 d §§ samt 8 kap. 18 a och 18 b §§ får dock tillämpas första gången för beskattningsår som börjar närmast efter den 31 december 2025 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2025.

Av första punkten framgår att lagen träder i kraft den 1 januari 2027.

Enligt andra punkten ska lagen tillämpas första gången för beskattningsår som börjar efter den 31 december 2026 eller i fråga om svenska handelsbolag räkenskapsår, som börjar närmast efter den 31 december 2026.

Det följer av första meningen i den tredje punkten att den rapporterande enheten får välja att tillämpa samtliga eller vissa av bestämmelserna första gången för beskattningsår som börjar närmast efter den 31 december 2024 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2024. I 2 kap. 43 § finns en definition av rapporterande enhet. Med en rapporterande enhet avses en enhet som lämnar tilläggsskatterapport. Det ställs inte upp några särskilda krav avseende rapportering av vilka val som görs i detta hänseende. I andra meningen i den tredje punkten anges att vissa bestämmelser får tillämpas tidigast för beskattningsår som börjar närmast efter den 31 december 2025 eller, i fråga om svenska handelsbolag, räkenskapsår som börjar närmast efter den 31 december 2025. Det gäller de förenklingsregler som föreslås för huvudoch kompletteringsregeln när moderföretag hör hemma i en stat med ett

parallellt minimibeskattningssystem, och för kompletteringsregeln när moderföretag hör hemma i en stat med ett parallellt minimibeskattningssystem som föreslås i avsnitt 6. Det gäller också de i avsnitt 7 föreslagna bestämmelserna om kvalificerade skatteincitament och om att kvalificerade respektive marknadsmässigt överlåtbara skattetillgodohavanden får behandlas som kvalificerade skatteincitament.

Övervägandena finns i avsnitt 13.

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 1 of the Economy – Administrative Guidance on OECD/G20 Base Erosion and Profit Shifting Project the Global Anti- Base Erosion Model Rules (Pillar Two), June 2024

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OECD/G20 Base Erosion and Profit Shifting Project This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. This document was approved by the OECD/G20 Inclusive Framework on BEPS on 24 May 2024 and prepared for publication by the OECD Secretariat.

Please cite as:

Tax Challenges Arising from the

OECD (2024), Tax Challenges Arising from the Digitalisation of the Economy – Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two), June 2024, OECD/G20 Inclusive Framework Digitalisation of the Economy – on BEPS, OECD, Paris, http://www.oecd.org/tax/beps/administrative-guidance-global-anti-base-erosionrules-pillar-two-june-2024.pdf.

Administrative Guidance on the Global Anti- Base Erosion Model Rules (Pillar Two), June 2024

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© OECD 2024

The use of this work, whether digital or print, is governed by the Terms and Conditions to be found at www.oecd.org/termsandconditions.

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Table of contents

Executive Summary 4

3.1. Principles for allocating cross-border, current taxes under a cross-crediting corporate tax

4.2. Principles for allocating deferred taxes from one Constituent Entity to another Constituent

5.4. Allocation of cross-border taxes under Article 4.3 in structures including Flow-through Entities 124 5.5. Hybrid Entities 129 5.6. Taxes paid by a Constituent Entity-owner with respect to a Reverse Hybrid Entity’s income 134

6. Treatment of Securitisation Vehicles 139

6.1. Securitisation Vehicles 139

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Table of contents Executive Summary

Background

Executive Summary 4

Background 4

1. In October 2021 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit

June 2024 Administrative Guidance 5

Shifting (Inclusive Framework) agreed a two-pillar solution to reform the international tax framework in

response to the challenges of digitalisation of the economy. As part of the October Statement, Inclusive

adopt the GloBE rules, but, if they choose to do so, they will implement and administer the rules in a way that is consistent with the agreed outcomes. The common approach also means that Inclusive Framework

2021 Tax Challenges Arising from Digitalisation of the Economy – Global Anti-Base Erosion Model Rules 3.1. Principles for allocating cross-border, current taxes under a cross-crediting corporate tax

(Pillar Two): Inclusive Framework on BEPS (OECD, 2021[1]). The GloBE Model Rules consist of an system 50

interlocking and coordinated system of rules which are designed to be implemented into the domestic law 3.2. Clarification of Article 3.4.5 72

of each jurisdiction and operate together to ensure large MNE Groups are subject to a minimum effective

tax rate of 15% on any excess profits arising in each jurisdiction where they operate. Consistent with the

4. Allocation of Cross-border Deferred Taxes 91

intention of the Inclusive Framework, the GloBE Rules (including the IIR and UTPR) are designed so that 4.1. Extension of the Substitute Loss Carry-forward DTA Introduction 91

the imposition of top-up tax in accordance with those rules will be compatible with the provisions of the 4.2. Principles for allocating deferred taxes from one Constituent Entity to another Constituent

United Nations Model Double Taxation Convention between Developed and Developing Countries (the Entity 94

“UN Model Double Tax Convention”) (UN, 2021[2]) and the Model Tax Convention on Income and on

Capital: Condensed Version 2017, (the “OECD Model Tax Convention”) (OECD, 2017[3]).

5. Allocation of profits and taxes in structures including Flow-through Entities 111

5.1. Introduction 111 3. The Commentary to the GloBE Model Rules was first approved and released by the Inclusive 5.2. Application of Article 3.5.1(b) and Article 10.2.1 definitions 112 Framework on 14 March 2022 Tax Challenges Arising from the Digitalisation of the Economy – 5.3. Application of Article 3.5.3 120 Commentary to the Global Anti-Base Erosion Model Rules (Pillar Two), First Edition: Inclusive Framework 5.4. Allocation of cross-border taxes under Article 4.3 in structures including Flow-through on BEPS (OECD, 2022[4]) The Commentary clarifies the interpretation and operation of the provisions in Entities 124 the GloBE Model Rules and includes some examples illustrating how the rules apply to specific fact 5.5. Hybrid Entities 129 patterns. The Commentary is intended to promote a consistent and common interpretation of the GloBE 5.6. Taxes paid by a Constituent Entity-owner with respect to a Reverse Hybrid Entity’s income 134 Model Rules in order to provide certainty for MNE Groups and to facilitate coordinated outcomes among

implementing jurisdictions. Although the Commentary is detailed and comprehensive, it does not provide

guidance on every aspect of the GloBE Model Rules.

6. Treatment of Securitisation Vehicles 139

6.1. Securitisation Vehicles 139

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4. The Model GloBE Rules envision that the Inclusive Framework may issue guidance on both the interpretation and the operation of the rules. The Inclusive Framework has provided interpretive guidance to ensure consistent and common interpretation of the GloBE Rules, provide certainty for MNE Groups and facilitate coordinated and transparent outcomes under the rules. Once agreed, the Administrative Guidance is incorporated into the Commentary as it supplements or replaces paragraphs in the Commentary or explains how to apply the language of the rules to particular fact patterns. The text of the Commentary has been updated in 2024 to incorporate the various pieces of Administrative Guidance that were approved by the Inclusive Framework before the end of December 2023 Tax Challenges Arising from the Digitalisation of the Economy – Consolidated Commentary to the Global Anti-Base Erosion Model Rules (2023): Inclusive Framework on BEPS (OECD, 2024[5]).

June 2024 Administrative Guidance

5. This document sets out the fourth set of Administrative Guidance released by the Inclusive Framework. This package includes guidance on application of the recapture rule applicable to deferred tax liabilities (DTL), including how to aggregate DTL categories and methodologies for determining whether a DTL reversed within five years. This guidance also clarifies how to determine deferred tax assets and liabilities for GloBE purposes when the rules result in divergences between GloBE and accounting carrying value of assets and liabilities. This package also includes further guidance on cross-border allocation of current and deferred taxes, allocation of profits and taxes in certain structures involving Flow-through Entities, and the treatment of securitisation vehicles. This Administrative Guidance will be incorporated into the Commentary.

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4. The Model GloBE Rules envision that the Inclusive Framework may issue guidance on both the interpretation and the operation of the rules. The Inclusive Framework has provided interpretive guidance to ensure consistent and common interpretation of the GloBE Rules, provide certainty for MNE Groups and facilitate coordinated and transparent outcomes under the rules. Once agreed, the Administrative Guidance is incorporated into the Commentary as it supplements or replaces paragraphs in the

DTL recapture

Commentary or explains how to apply the language of the rules to particular fact patterns. The text of the 1.

Commentary has been updated in 2024 to incorporate the various pieces of Administrative Guidance that were approved by the Inclusive Framework before the end of December 2023 Tax Challenges Arising from the Digitalisation of the Economy – Consolidated Commentary to the Global Anti-Base Erosion Model Rules (2023): Inclusive Framework on BEPS (OECD, 2024[5]).

1.1¶Introduction June 2024 Administrative Guidance

1. Article 4.4.4 stipulates that the accrual of a Deferred Tax Liability (DTL) that is claimed in the

Adjusted Covered Taxes for the relevant Fiscal Year shall be subject to recapture if it does not reverse 5. This document sets out the fourth set of Administrative Guidance released by the Inclusive

within the subsequent five Fiscal Years (the DTL recapture rule). The policy objective of the rule is to Framework. This package includes guidance on application of the recapture rule applicable to deferred tax

protect the integrity of the GloBE Rules from situations where the Adjusted Covered Taxes of a Constituent liabilities (DTL), including how to aggregate DTL categories and methodologies for determining whether a

Entity are increased based on accrual of DTLs that have a long-term or even indefinite reversal horizon. DTL reversed within five years. This guidance also clarifies how to determine deferred tax assets and

The DTL recapture rule does not apply to DTLs that qualify as Recapture Exception Accruals (REAs) liabilities for GloBE purposes when the rules result in divergences between GloBE and accounting carrying

pursuant to Article 4.4.5. Nor does it apply to an Unclaimed Accrual under Article 4.4.7. value of assets and liabilities. This package also includes further guidance on cross-border allocation of current and deferred taxes, allocation of profits and taxes in certain structures involving Flow-through 2. In practice, DTL recapture means that the Adjusted Covered Taxes and the ETR for the Fiscal Entities, and the treatment of securitisation vehicles. This Administrative Guidance will be incorporated into Year in which the DTL was accrued and claimed are re-computed without such DTL. If the re-computed the Commentary. ETR is below the Minimum Rate, an Additional Top-up Tax is computed for that Fiscal Year. In the Fiscal

Year that a recaptured DTL reverses, Article 4.4.2(b) excludes the reversal of the Recaptured DTL from

the computation of the Adjusted Covered Taxes in the Fiscal Year, which effectively increases the Adjusted

Covered Taxes by the amount of the recaptured DTL.

3. Paragraph 89 of the Commentary to Article 4.4.4 provides that the DTL recapture rule applies to

‘categories’ of deferred tax liabilities. Compliance with the DTL recapture rule requires each Constituent

Entity to (i) identify categories of DTLs that are in scope of the DTL recapture rule and (ii) determine the

year in which, and the extent to which, each identified DTL accrual reverses. The main objective of this

guidance is to provide clarifications on how to practically manage the DTL recapture rule in a way that is

in line with the policy objective of the rule itself, as well as minimizing administrative and compliance

burdens for tax administrations and MNE Groups, including by giving due regard to the MNE Group’s

existing accounting processes for DTLs.

4. This note provides guidance on the criteria for determining the scope of a DTL category and

methodologies for determining whether the DTL accruals in the category have reversed within five Fiscal

Years. The guidance also prescribes methodologies of determining whether DTLs reversals are

attributable to recaptured DTLs or pre-GloBE DTLs (i.e. DTLs that arose before the Transition Year).

5. This note also provides a simplification through an extended application of the Unclaimed Accrual

election rule in Article 4.4.7. Specifically, the guidance provides that a Constituent Entity may make an

Unclaimed Accrual Five-Year election for a DTL category that it does not expect to prove reversed within

five Fiscal Years. The result will be that the Constituent Entity will not claim those DTL accruals in

determining its Adjusted Covered Taxes and therefore will not need to determine when the DTLs reverse.

1.2¶Issues to be considered

6. In general, a deferred tax asset or liability is the tax effect computed by reference to the difference

between the accounting carrying value and the tax carrying value of an asset or liability, provided that such

difference has a timing nature (i.e. it reverses at some point in the future). In some cases, financial

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accounting standards apply or permit deferred tax accounting based on accounting-tax timing differences of income and expenses or on another basis. This guidance is drafted based on the balance sheet model that is most commonly used by MNE Groups. However, the principles of this guidance are applicable to other models of deferred tax accounting. 7. Although accounting standards focus on the different carrying values of assets and liabilities, MNE Groups do not typically measure DTLs and DTAs for each asset or liability. The tax carrying values of the Constituent Entity’s assets and liabilities are not always organized and tracked in accounts that align with each of the General Ledger accounts (GL accounts) of the chart of accounts used for Consolidated Financial Statements. For example, the Constituent Entity may have a tax account used to prepare its tax balance sheet for a broader group of assets than is included in a single GL account. The reporting package process requires that the deferred tax measurement is performed in a way that harmonizes the tax balance sheet accounts with the chart of accounts used for Consolidated Financial Statements, however this harmonization generally occurs at higher levels of aggregation than the GL accounts (i.e. at Balance Sheet account or sub-Balance Sheet account level). For example, the tax accounts may correspond to a combination of two or more GL accounts. However, the tax accounts will not span two of the accounts that are separately reported in the balance sheet of the Consolidated Financial Statements. Where the aggregations between GL accounts and tax accounts align is generally the level at which the deferred tax assets and liabilities are measured for the purposes of the reporting package. The comparison of carrying values is reflected in the reporting package or in the workpapers used in preparation of the reporting package. The Constituent Entity may not have a GL account to record the results of each of these comparisons. The Consolidated Financial Statements aggregate all DTAs and DTLs determined for the Constituent Entities and report only the net balance as a deferred tax asset or deferred tax liability. 8. Each Constituent Entity computes its Adjusted Covered Taxes and GloBE Income or Loss based on the financial accounts used for the preparation of the Consolidated Financial Statements, where available. The GloBE Rules start with the financial accounts used to prepare Consolidated Financial Statements to mitigate compliance costs and to benefit from the independent review of an external auditor as noted in paragraph 7 of the Commentary to Article 3.1.2. Consequently, GloBE compliance processes are expected to be linked to and to rely on the accounting processes already established by the MNE Groups for the purposes of the preparation of the Consolidated Financial Statements, i.e. the reporting package process. Thus, to minimize compliance costs, this guidance provides MNE Groups the ability, in certain cases, to align DTL categories to the GL accounts or BS accounts that are referenced in computing DTLs for financial accounting purposes. 9. In some instances, however, the GloBE Rules deviate from financial accounting requirements. Tracking DTLs to determine the time frame in which they reverse is not required for accounting purposes but is necessary under the GloBE Rules. This naturally means that MNE Groups will need to develop processes and mechanisms in addition to their existing accounting processes to determine whether DTLs reverse within five years. 10. The purpose of the DTL recapture rule is to ensure that the ETR is not overstated by giving credit for DTLs that will not actually reverse within five years. The GloBE Rules concerning the inclusion of DTL accruals in the Adjusted Covered Taxes distinguish between DTLs that fully reverse within five Fiscal Years (Short-term DTLs) and DTLs that do not fully reverse within five Fiscal Years (Long-term DTLs). Reporting packages that aggregate Short-term and Long-term DTLs present a challenge in complying with the purpose of the DTL recapture rule. In these circumstances, a reliable methodology for determining the extent to which different DTLs have reversed is necessary where a DTL category includes an aggregation of Short-term and Long-term DTLs. Otherwise, the Short-term and Long-term DTLs would need to be separated. 11. GL accounts are the primary tool to track and manage the financial information of a business. GL accounts are organized according to the structure defined in the chart of accounts, which is the list of all

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accounting standards apply or permit deferred tax accounting based on accounting-tax timing differences the accounts a business uses to record its financial transactions. Businesses tailor the chart of accounts

of income and expenses or on another basis. This guidance is drafted based on the balance sheet model and GL accounts based on a combination of factors, such as industry-specific standards or regulations,

that is most commonly used by MNE Groups. However, the principles of this guidance are applicable to reporting requirements, organizational structure, their size and complexity and tax compliance. The ending

other models of deferred tax accounting. balance of each GL account includes any opening amounts and all the transactions registered in that

account during the relevant financial year. The ending balances of all the GL accounts constitute the trial 7. Although accounting standards focus on the different carrying values of assets and liabilities, MNE

balance for the relevant financial year and is the starting point for the preparation of the financial Groups do not typically measure DTLs and DTAs for each asset or liability. The tax carrying values of the

statements. Constituent Entity’s assets and liabilities are not always organized and tracked in accounts that align with

each of the General Ledger accounts (GL accounts) of the chart of accounts used for Consolidated 12. There may be cases in which a single GL account reflects multiple assets and some of the assets

Financial Statements. For example, the Constituent Entity may have a tax account used to prepare its tax have different timing rules for tax purposes. For example, a Constituent Entity may account for two assets

balance sheet for a broader group of assets than is included in a single GL account. The reporting package that have a ten-year depreciation period for accounting purposes using the same GL account. However,

process requires that the deferred tax measurement is performed in a way that harmonizes the tax balance one has a five-year depreciation period for tax purposes and the other is immediately deductible for tax

sheet accounts with the chart of accounts used for Consolidated Financial Statements, however this purposes. In such cases, the Constituent Entity is not required to separate the assets in the GL account

harmonization generally occurs at higher levels of aggregation than the GL accounts (i.e. at Balance Sheet into separate sub-GL accounts solely for purposes of the DTL recapture rule.

account or sub-Balance Sheet account level). For example, the tax accounts may correspond to a

13. As explained above, for reporting package purposes many MNE Groups track DTLs in relation to combination of two or more GL accounts. However, the tax accounts will not span two of the accounts that

an aggregation of assets or liabilities in GL accounts that are encompassed by the same Balance Sheet are separately reported in the balance sheet of the Consolidated Financial Statements. Where the

account. The MNE generally measure the DTLs based on an aggregation of all GL accounts under the aggregations between GL accounts and tax accounts align is generally the level at which the deferred tax

Balance Sheet account (a BS account) or different subsets of GL accounts under the BS account (a subassets and liabilities are measured for the purposes of the reporting package. The comparison of carrying

BS account). It is very rare that DTL measurement for reporting package is based on single GL accounts. values is reflected in the reporting package or in the workpapers used in preparation of the reporting

However, MNE Groups do not aggregate GL accounts from different BS accounts for purposes of package. The Constituent Entity may not have a GL account to record the results of each of these

measuring DTLs. DTLs measured and tracked by reference to an aggregate of GL accounts are referred comparisons. The Consolidated Financial Statements aggregate all DTAs and DTLs determined for the

to as Aggregate DTL Categories in this guidance. Constituent Entities and report only the net balance as a deferred tax asset or deferred tax liability.

14. There are three risks that arise from aggregation of DTLs related to assets and liabilities in different 8. Each Constituent Entity computes its Adjusted Covered Taxes and GloBE Income or Loss based

GL accounts. The first risk is that some of the GL accounts in the Aggregate DTL Category may have a on the financial accounts used for the preparation of the Consolidated Financial Statements, where

DTA balance on a stand-alone basis such that the DTL for category is essentially a net of DTLs over the available. The GloBE Rules start with the financial accounts used to prepare Consolidated Financial

DTAs in the category. Consequently, the amount of the DTL offset by the DTA would not be subject to the Statements to mitigate compliance costs and to benefit from the independent review of an external auditor

recapture rule. The second risk is the risk that the DTL category will include a mix of DTLs that fully reverse as noted in paragraph 7 of the Commentary to Article 3.1.2. Consequently, GloBE compliance processes

within five Fiscal Years (Short-Term DTLs) and DTLs that do not fully reverse within five Fiscal Years are expected to be linked to and to rely on the accounting processes already established by the MNE

(Long-term DTLs) and that such a mix could undermine the effective recapture of Long-term DTLs. The Groups for the purposes of the preparation of the Consolidated Financial Statements, i.e. the reporting

third risk is that a DTL arising from a related party transaction can be engineered to remain outstanding package process. Thus, to minimize compliance costs, this guidance provides MNE Groups the ability, in

indefinitely. certain cases, to align DTL categories to the GL accounts or BS accounts that are referenced in computing

DTLs for financial accounting purposes. 15. One way to mitigate these risks and ensure that the recapture rule applies to DTLs that do not

reverse within five years is to disaggregate the DTLs into more narrow categories. Indeed, if each DTA 9. In some instances, however, the GloBE Rules deviate from financial accounting requirements.

and DTL were tracked separately, none of the risks would arise. However, separate tracking of all DTAs Tracking DTLs to determine the time frame in which they reverse is not required for accounting purposes

and DTLs is not practical for MNE Groups. Nor is it necessary in all cases. Instead, aggregation can be but is necessary under the GloBE Rules. This naturally means that MNE Groups will need to develop

limited to DTLs that have similar reversal timelines. Aggregation of Short-term DTLs does not present an processes and mechanisms in addition to their existing accounting processes to determine whether DTLs

integrity risk because all of the DTLs reverse within a five-year period. Exclusion of Long-term DTLs from reverse within five years.

Aggregate DTL Categories that include Short-term DTLs will ensure that reversals of Short-term DTLs do

10. The purpose of the DTL recapture rule is to ensure that the ETR is not overstated by giving credit not cause an appearance that the Long-term DTLs are reversing in full within five years. Further, exclusion

for DTLs that will not actually reverse within five years. The GloBE Rules concerning the inclusion of DTL of DTAs from categories that include Long-term DTLs will ensure that those DTLs do not avoid recapture

accruals in the Adjusted Covered Taxes distinguish between DTLs that fully reverse within five Fiscal Years due to netting within the category. Finally, requiring separate tracking of DTLs associated with related party

(Short-term DTLs) and DTLs that do not fully reverse within five Fiscal Years (Long-term DTLs). Reporting transactions ensures that those DTLs will be recaptured to the extent they are not reversed within five

packages that aggregate Short-term and Long-term DTLs present a challenge in complying with the years.

purpose of the DTL recapture rule. In these circumstances, a reliable methodology for determining the

16. Another way of mitigating the risks is in the methodology used to determine whether DTLs in the extent to which different DTLs have reversed is necessary where a DTL category includes an aggregation

category have reversed within five years (the recapture methodology). Tracking the DTLs in a category of Short-term and Long-term DTLs. Otherwise, the Short-term and Long-term DTLs would need to be

item-by-item will ensure that Long-term DTLs are appropriately recaptured, but as noted above this is only separated.

practical in limited circumstances. Therefore, the recapture methodologies make assumptions as to which

11. GL accounts are the primary tool to track and manage the financial information of a business. GL DTLs in the Aggregate DTL category have reversed when a reversal occurs. For example, a recapture

accounts are organized according to the structure defined in the chart of accounts, which is the list of all methodology may assume that reversals or net reversals for a given year relate to the oldest outstanding

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DTLs in the category, i.e. a FIFO recapture methodology. The FIFO approach effectively assumes that the DTLs outstanding at year end relate to the most recently accrued DTLs, whether Long-term or Short-term DTLs. Alternatively, a recapture methodology could include an assumption that reversals relate to the most recently accrued DTLs in the category, i.e. a LIFO recapture methodology. The LIFO approach effectively assumes that the DTLs outstanding at year end relate to Long-term DTLs and not Short-term DTLs. Depending on the DTLs in the category, either of these recapture methodologies may appropriately recapture the DTLs in the Aggregate DTL category to the extent that they have not reversed within five years. On the other hand, because they are based on assumptions about the outstanding DTLs at year end, both may result in recapture of Short-term DTLs in some circumstances.

1.2.1¶Principles for aggregating DTLs under GloBE Rules

17. For purposes of the DTL recapture rule, a Constituent Entity may track DTLs on an Aggregate DTL Category basis, rather than an item-by-item tracking or based on a single GL account. An Aggregate DTL Category means a category of DTLs determined in relation to two or more GL accounts that, consistent with the chart of accounts used for the purposes of Article 3.1.2 or 3.1.3, fall under the same balance sheet account or sub-balance sheet account. An Aggregate DTL Category is not required to include all of the GL accounts that fall under the same balance sheet account. A Constituent Entity may have more than one Aggregate DTL Category that falls under the same balance sheet account. 18. An Aggregate DTL Category may include Short-term DTLs and Long-term DTLs. A Short-term DTL is an individual DTL that fully reverses within five Fiscal Years or a DTL that is determined in relation to a GL account and that fully reverses within five Fiscal Years. A Long-term DTL is an individual DTL that does not fully reverse within five Fiscal Years or a DTL that is determined in relation to a GL account and that does not fully reverse within five Fiscal Years. 19. Where a Constituent Entity cannot demonstrate that an Aggregate DTL Category satisfies the aggregate tracking requirements or the conditions for the simplification for Short-term DTLs (as set out in below paragraphs), the Constituent Entity cannot claim the accrual of that DTL in the computation of its Adjusted Covered Taxes. Where a Constituent Entity fulfils the aggregate tracking requirements but cannot demonstrate that the Aggregate DTL Category satisfies the FIFO requirements (as defined in below paragraphs), the Constituent Entity must apply LIFO recapture methodology.

Exclusion of certain types of GL accounts and separate tracking

20. Considering the risks of Aggregate DTL Categories, the Inclusive Framework has determined that DTLs related to certain assets and liabilities may be aggregated up to the GL account and cannot be aggregated with other GL accounts. DTLs related to the following assets or liabilities that might be claimed in the computation of Adjusted Covered Taxes may be aggregated for purposes of the DTL recapture rule only up to the GL account level:

• Non-amortizable intangible assets, including goodwill; • Amortizable intangible assets with an accounting life of more than five years; and • Related party receivables and payables.

Exclusion of GL accounts that generate DTAs

21. The inclusion of a GL account that on a standalone basis generates a DTA in an Aggregate DTL Category would have the distortive effect of diminishing the DTLs subject to recapture because the DTA accrual would have the same effect as a DTL reversal and therefore it would appear that part of the DTL has reversed when it has not. An Aggregate DTL Category cannot include any GL account that on a standalone basis would always generate only DTA. A Constituent Entity will need to be able to demonstrate

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DTLs in the category, i.e. a FIFO recapture methodology. The FIFO approach effectively assumes that the that the accounting and tax timing differences in respect of the assets and liabilities in the GL accounts DTLs outstanding at year end relate to the most recently accrued DTLs, whether Long-term or Short-term encompassed by the Aggregate DTL Category can only generate a DTL. DTLs. Alternatively, a recapture methodology could include an assumption that reversals relate to the most recently accrued DTLs in the category, i.e. a LIFO recapture methodology. The LIFO approach effectively Exclusion of swinging accounts and separate tracking assumes that the DTLs outstanding at year end relate to Long-term DTLs and not Short-term DTLs.

22. A swinging account is a GL account for which variances in the accounting and tax timing rules Depending on the DTLs in the category, either of these recapture methodologies may appropriately

result in a net DTA or a net DTL at different points over the life of the encompassed assets or liabilities. recapture the DTLs in the Aggregate DTL category to the extent that they have not reversed within five

Including a swinging account in an Aggregate DTL Category can create the same distortion as including a years. On the other hand, because they are based on assumptions about the outstanding DTLs at year

GL account with a DTA nature in the Aggregate DTL Category. Moreover, an aggregation of swinging end, both may result in recapture of Short-term DTLs in some circumstances.

accounts causes the same issue to arise because when a GL account swings to a DTA balance the

Aggregate DTL Category will appear to have a reversal of a DTL. Considering the risks of Aggregate DTL

1.2.1¶Principles for aggregating DTLs under GloBE Rules

Categories, the Inclusive Framework has determined that swinging accounts cannot be aggregated with 17. For purposes of the DTL recapture rule, a Constituent Entity may track DTLs on an Aggregate DTL other GL accounts. DTLs related to swinging accounts that are claimed in the computation of Adjusted Category basis, rather than an item-by-item tracking or based on a single GL account. An Aggregate DTL Covered Taxes must be tracked separately for purposes of the DTL recapture rule at the level of a single Category means a category of DTLs determined in relation to two or more GL accounts that, consistent GL account. with the chart of accounts used for the purposes of Article 3.1.2 or 3.1.3, fall under the same balance sheet account or sub-balance sheet account. An Aggregate DTL Category is not required to include all of the GL Exclusion of DTL related to items excluded from GloBE Income or Loss

accounts that fall under the same balance sheet account. A Constituent Entity may have more than one

23. Movements in DTLs that are related to items that do not factor into the computation of the GloBE Aggregate DTL Category that falls under the same balance sheet account.

Income or Loss are excluded from the computation of the Total Deferred Tax Adjustment Amount. Only 18. An Aggregate DTL Category may include Short-term DTLs and Long-term DTLs. A Short-term DTLs which are claimed in the Total Deferred Tax Adjustment Amount are subject to the DTL Recapture DTL is an individual DTL that fully reverses within five Fiscal Years or a DTL that is determined in relation rule. A DTL related to excluded items shall not be included in a GL account or Aggregate DTL Category. to a GL account and that fully reverses within five Fiscal Years. A Long-term DTL is an individual DTL that

24. For example, a DTL related to items which are accounted in Other Comprehensive Income should does not fully reverse within five Fiscal Years or a DTL that is determined in relation to a GL account and

be excluded from the scope of the DTL recapture rule, unless Article 4.1.1(c) applies. If items accounted that does not fully reverse within five Fiscal Years.

in Other Comprehensive Income are recycled through profit and loss, DTLs related to those items are 19. Where a Constituent Entity cannot demonstrate that an Aggregate DTL Category satisfies the included accordingly in the computation of the Total Deferred Tax Adjustment Amount and those DTLs are aggregate tracking requirements or the conditions for the simplification for Short-term DTLs (as set out in subject to the DTL recapture rule. below paragraphs), the Constituent Entity cannot claim the accrual of that DTL in the computation of its Adjusted Covered Taxes. Where a Constituent Entity fulfils the aggregate tracking requirements but cannot Exclusion of Recapture Exception Accruals demonstrate that the Aggregate DTL Category satisfies the FIFO requirements (as defined in below paragraphs), the Constituent Entity must apply LIFO recapture methodology. 25. The DTL recapture rule does not apply to a DTL that meets the definition of a Recapture Exception

Accrual in Article 4.4.5. However, if a Constituent Entity has a GL account or Aggregate DTL Category that

Exclusion of certain types of GL accounts and separate tracking includes one or more DTLs that is a Recapture Exception Accrual, the DTL recapture rule will apply with

respect to the GL account or the entire Aggregate DTL Category. 20. Considering the risks of Aggregate DTL Categories, the Inclusive Framework has determined that DTLs related to certain assets and liabilities may be aggregated up to the GL account and cannot be 1.2.2. Mechanisms to recapture Long-term DTLs in an Aggregate DTL Category aggregated with other GL accounts. DTLs related to the following assets or liabilities that might be claimed in the computation of Adjusted Covered Taxes may be aggregated for purposes of the DTL recapture rule General principles only up to the GL account level:

26. The DTL recapture rule is intended to recapture the benefit of including a DTL accrual in the ETR

• Non-amortizable intangible assets, including goodwill;

computation if that DTL does not reverse within five Fiscal Years. Determining when a particular DTL

• Amortizable intangible assets with an accounting life of more than five years; and

reverses presents some challenges because Constituent Entities typically do not create a separate DTL

• Related party receivables and payables. for each transaction and then reverse that DTL when the relevant carrying value and tax basis come back

into line. Instead, Constituent Entities typically compare the difference between the year-end carrying value

Exclusion of GL accounts that generate DTAs and tax basis of assets and liabilities reflected in a GL account or a group of GL accounts to determine the

DTL in respect of those assets or liabilities. The deferred tax expense attributable to a DTL reported in the 21. The inclusion of a GL account that on a standalone basis generates a DTA in an Aggregate DTL

income statement is based on the net movement in the balance of the DTL from the end of the previous Category would have the distortive effect of diminishing the DTLs subject to recapture because the DTA

year. For DTL recapture purposes, where DTL tracking is performed on an aggregate basis, the net accrual would have the same effect as a DTL reversal and therefore it would appear that part of the DTL

increase in the balance of the GL account or Aggregate DTL Category is treated as a DTL accrual and the has reversed when it has not. An Aggregate DTL Category cannot include any GL account that on a

net decrease is treated as a DTL reversal. standalone basis would always generate only DTA. A Constituent Entity will need to be able to demonstrate

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27. The DTL balance related to a GL account or to an Aggregate DTL Category may remain constant even where assets and liabilities are recorded and reversed for accounting and tax purposes if other assets and liabilities are also recorded in the relevant GL account(s). To illustrate, assume CE1 acquires an asset on the last day of Year 1 and the cost of acquiring the asset is fully deductible for tax purposes in the year of the acquisition (Year 1) and amortized over two years starting from when it is first used for accounting purposes (Year 2). If CE1 acquires the asset for 100 and has a 15% tax rate, it will record a DTL of 15 at the end of Year 1. The DTL related to the asset at the end of Year 2 will be 7.5. However, if another similar asset is purchased for 100 in Year 2 and starts to be amortized in Year 2, the net balance of the DTL in Year 2 will remain at 15. 28. In the example, it appears that part of the DTL from Year 1 reversed in Year 2 and the DTL reflected in the ending balance was a new accrual. However, MNE Groups may not commonly make accounting entries that reflect whether the DTLs at any given point in time are in relation to pre-existing or newly acquired assets or liabilities. Their financial accounts only indicate whether, in the aggregate, there is an accrual of a DTL (i.e. a net increase in the DTL balance) or reversal of part or all of the DTL (i.e. a net decrease in the DTL balance). 29. Because MNE Groups generally do not trace the balance of a DTL to particular assets or liabilities reflected in the corresponding GL account or Aggregate DTL category, a methodology with certain assumptions is needed to determine whether a reversal (i.e. a decrease in the ending balance) relates to amounts that accrued in the preceding five Fiscal Years or to amounts that were previously subject to recapture under Article 4.4.4. One approach would be to assume that reversals relate to the oldest accruals. This would be a first-in, first-out or FIFO methodology. Another approach would be to assume that reversals relate to the most recent accruals. This would be a last-in, first-out or LIFO methodology. 30. These different methodologies produce different outcomes in terms of the amount of DTLs recaptured and the Fiscal Years in which the recapture occurs. They will further result in the corresponding recapture reversal (pursuant to Article 4.4.2(b)) occurring in different Fiscal Years. However, it is not possible to determine in absolute terms whether a particular methodology is more or less favourable for the taxpayer (in terms of amount overall subject to recapture) in all cases, because it depends on the actual trend of DTL increases and decreases in the year-end balances of a given GL account or Aggregate DTL category. 31. Nevertheless, in the case of Aggregate DTL Categories, the FIFO methodology could shield an un-reversed DTL accrual from recapture in some circumstances. The risk arises where the Aggregate DTL Category contains GL accounts that have both Short-term DTLs and Long-term DTLs. In such cases, the accruals and reversals in the Short-term DTLs can make it appear on a FIFO basis that all of the DTLs have reversed within five years when in fact, the Long-term DTLs remain outstanding for more than five years. 32. The LIFO methodology is a more conservative approach because it mitigates the risk that the Long-term DTLs encompassed by an Aggregate DTL Category would not be recaptured after five years or that the relevant recapture would be postponed indefinitely. 33. A Constituent Entity may use the FIFO methodology to determine DTL reversals in the following cases:

a. The DTL is determined in relation to a single GL account;

b. The DTL is determined in relation to an Aggregate DTL Category that consists

solely of DTLs determined in relation to GL accounts with a similar reversal trend;

or

c. The DTLs are aggregated within an Aggregate DTL Category without a similar

reversal trend but where MNE can demonstrate that the FIFO methodology

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27. The DTL balance related to a GL account or to an Aggregate DTL Category may remain constant nevertheless results in appropriate recapture of DTLs to the extent their reversal even where assets and liabilities are recorded and reversed for accounting and tax purposes if other assets trend extends beyond 5 years. and liabilities are also recorded in the relevant GL account(s). To illustrate, assume CE1 acquires an asset

For any Aggregate DTL Category for which the Constituent Entity does not choose to use the FIFO on the last day of Year 1 and the cost of acquiring the asset is fully deductible for tax purposes in the year

methodology or for which it cannot demonstrate that the conditions above are satisfied, the LIFO of the acquisition (Year 1) and amortized over two years starting from when it is first used for accounting

methodology must be used. purposes (Year 2). If CE1 acquires the asset for 100 and has a 15% tax rate, it will record a DTL of 15 at the end of Year 1. The DTL related to the asset at the end of Year 2 will be 7.5. However, if another similar 34. DTLs related to an Aggregate DTL Category are considered to have a similar reversal trend if such asset is purchased for 100 in Year 2 and starts to be amortized in Year 2, the net balance of the DTL in DTLs fully reverse within a two-year period of each other. For example, if all of the DTLs related to GL Year 2 will remain at 15. accounts in an Aggregate DTL Category will fully reverse within 9 to 11 years from the Fiscal Year in which

they arise, those DTLs have a similar reversal trend. 28. In the example, it appears that part of the DTL from Year 1 reversed in Year 2 and the DTL reflected in the ending balance was a new accrual. However, MNE Groups may not commonly make accounting 35. A Constituent Entity may be able to demonstrate that the FIFO method appropriately recaptures entries that reflect whether the DTLs at any given point in time are in relation to pre-existing or newly Long-term DTLs based on facts and circumstances related to the nature of the transactions and the acquired assets or liabilities. Their financial accounts only indicate whether, in the aggregate, there is an relevant tax rules. For example, a Constituent Entity may be able to demonstrate that the DTLs in respect accrual of a DTL (i.e. a net increase in the DTL balance) or reversal of part or all of the DTL (i.e. a net of an Aggregate DTL Category reverse ratably over a 10-year period beginning in the Fiscal Year after the decrease in the DTL balance). accrual and that the FIFO method recaptures half of the DTL accruals related to that Aggregate DTL

Category. 29. Because MNE Groups generally do not trace the balance of a DTL to particular assets or liabilities reflected in the corresponding GL account or Aggregate DTL category, a methodology with certain 36. The functioning of both the FIFO and LIFO methodology of determining DTL reversals and assumptions is needed to determine whether a reversal (i.e. a decrease in the ending balance) relates to recapture is based on the determination of the Unjustified Balance in the current Fiscal Year (i.e. the fifth amounts that accrued in the preceding five Fiscal Years or to amounts that were previously subject to subsequent Fiscal Year after the tested Fiscal Year). The Tested Fiscal Year is the one in which the DTL recapture under Article 4.4.4. One approach would be to assume that reversals relate to the oldest accrual occurs and is claimed in the Adjusted Covered Taxes (to be subject to DTL recapture rule). The accruals. This would be a first-in, first-out or FIFO methodology. Another approach would be to assume Testing Period is the five-year period which follows the Tested Fiscal Year. The Unjustified Balance that reversals relate to the most recent accruals. This would be a last-in, first-out or LIFO methodology. represents the total amount of the DTL that has not been reversed before the end of Testing Period (i.e.

the total amount of recaptured DTL) and is determined as the excess (if any) of the Outstanding Balance 30. These different methodologies produce different outcomes in terms of the amount of DTLs

of the DTL over the Maximum Justifiable Amount for that category. The Outstanding Balance is the DTL recaptured and the Fiscal Years in which the recapture occurs. They will further result in the corresponding

balance as of the end of the Testing Period computed starting from the Transition Year. The Maximum recapture reversal (pursuant to Article 4.4.2(b)) occurring in different Fiscal Years. However, it is not

Justifiable Amount is determined in two different ways depending on whether the FIFO or LIFO possible to determine in absolute terms whether a particular methodology is more or less favourable for

methodology applies. If the Maximum Justifiable Amount is equal to or greater than the Outstanding the taxpayer (in terms of amount overall subject to recapture) in all cases, because it depends on the actual

Balance of the Aggregate DTL Category or GL account, there is no DTL recapture for the tested Fiscal trend of DTL increases and decreases in the year-end balances of a given GL account or Aggregate DTL

Year. If the Maximum Justifiable amount is lower than the Outstanding balance of the Aggregate DTL category.

Category or GL account, the difference is an Unjustified Balance. The Unjustified Balance is compared 31. Nevertheless, in the case of Aggregate DTL Categories, the FIFO methodology could shield an with the previous year Unjustified Balance amount (if any), in order to determine whether there is an un-reversed DTL accrual from recapture in some circumstances. The risk arises where the Aggregate DTL increase or a decrease for the relevant tested Fiscal Year. If the Unjustified Balance increases in the Category contains GL accounts that have both Short-term DTLs and Long-term DTLs. In such cases, the current Fiscal Year, the amount of the increase represents the DTL accrual which shall be recaptured (i.e. accruals and reversals in the Short-term DTLs can make it appear on a FIFO basis that all of the DTLs excluded from the computation of the Adjusted Covered Taxes of the tested Fiscal Year in the ETR rehave reversed within five years when in fact, the Long-term DTLs remain outstanding for more than five computation under Article 5.4). If the Unjustified Balance decreases in the current Fiscal Year, the amount years. of the decrease must be treated either as a reversal of a recaptured DTL, or reversal of an Unclaimed

Accrual, or reversal of pre-Transition Year DTL. 32. The LIFO methodology is a more conservative approach because it mitigates the risk that the Long-term DTLs encompassed by an Aggregate DTL Category would not be recaptured after five years or

FIFO Methodology

that the relevant recapture would be postponed indefinitely.

37. Under the FIFO methodology, the Maximum Justifiable amount corresponds to the sum of the net 33. A Constituent Entity may use the FIFO methodology to determine DTL reversals in the following cases: increases in the outstanding DTL balance for each Fiscal Year in the five-year testing period in which there

was a net increase in the outstanding DTL balance. In this way, a net decrease in the DTL balance with a

a. The DTL is determined in relation to a single GL account;

Fiscal Year (representing, on net, a reversal) is considered to reduce the net increase in DTL balance in

b. The DTL is determined in relation to an Aggregate DTL Category that consists the earliest Fiscal Year in chronological order. solely of DTLs determined in relation to GL accounts with a similar reversal trend;

or LIFO Methodology

c. The DTLs are aggregated within an Aggregate DTL Category without a similar 38. Under the LIFO methodology, the Maximum Justifiable amount is determined as the greater of

reversal trend but where MNE can demonstrate that the FIFO methodology zero or the net amount of the DTL accruals and reversals that occurred during the five-year testing period.

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In this way, the reversals occurring during the Testing Period are first allocated to the DTL accruals of the Testing Period.

1.2.3¶Simplification for Short-term DTLs

39. A Constituent Entity that has an Aggregate DTL Category that is comprised exclusively of Shortterm DTLs may benefit from the simplification described in the following paragraphs. If a Constituent Entity’s existing Aggregate DTL Category contains Short-term DTLs and Long-term DTLs, it is allowed to separate the GL accounts with Short-term DTLs from the GL accounts with Long-term DTLs and apply this simplification to the individual GL accounts or an Aggregate DTL Category that includes two or more of such GL accounts. For example, a Constituent Entity may have an Aggregate DTL Category comprised of some GL accounts for inventory that will be reflected in the balance sheet for less than five years and some GL accounts for inventory, such as replacement parts for manufactured products, that remains on the balance sheet for a long period of time. If the Constituent Entity can separate that Aggregate DTL Category and separately determine the DTLs related to the replacement parts and the remainder of the inventory, the Constituent Entity can apply the simplification described below with respect to the remainder of the inventory. 40. The Constituent Entity may be able to demonstrate on the basis of objective facts, that all DTLs related to the assets or liabilities in a GL account or all DTLs included in an Aggregate DTL Category reverse within five fiscal years of the accrual year. In such cases, the Constituent Entity is not obligated to put in place a tracking system and recapture methodology to demonstrate that such DTLs have a shortterm reversal. These objective facts shall take into account (i) the difference between the tax base and the accounting carrying value, applicable to the relevant DTLs, and, where relevant (ii) the economic features of the underlying assets and liabilities. Short-term DTLs can benefit from this compliance simplification where the Constituent Entity is able to demonstrate the short-term reversal based on objective facts. For this purpose, the Constituent Entity shall maintain proper evidence to support the conclusion that the DTLs have a short-term reversal period. 41. The guidance below provides examples illustrating the objective facts in relation to certain circumstances that may be relevant for the purposes of demonstrating that DTLs are Short-term DTLs. 42. If a Constituent Entity’s existing practice of measuring DTLs has an Aggregate DTL Category that has only Short-term DTLs and DTAs, the Constituent Entity is allowed to include the DTAs in the Aggregate DTL Category and to benefit from the Short-term DTL simplification. 43. Where the Constituent Entity is no longer able to benefit from the Short-term DTL simplification for a given GL account or an Aggregate DTL Category starting from a given Fiscal Year, the Constituent Entity will start applying the DTL recapture rule starting from that Fiscal Year. For example, this could happen as a consequence of a change in the tax rules that causes DTLs to become Long-term DTLs. In order to apply the DTL recapture rule, the Constituent Entity shall determine whether the Aggregate DTL Category meets the aggregate tracking requirements and determine the applicable recapture methodology (FIFO or LIFO). The outstanding DTL for the relevant GL account or an Aggregate DTL Category (that meets the aggregate tracking requirements) as of the beginning of the Fiscal Year in which the simplification is no longer available shall be treated in the same manner as if they were pre-Transition Year DTLs (as set out below in the guidance).

1.2.4¶Reversal of DTLs that accrued before the Transition Year

44. The DTL recapture rule applies to DTLs that are included in the computation of Adjusted Covered Taxes starting from the Transition Year. DTLs imported into the GloBE system pursuant to Article 9.1.1 are not subject to the DTL recapture rule (as stated in paragraph 6.3 of the Commentary to Article 9.1.1).

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In this way, the reversals occurring during the Testing Period are first allocated to the DTL accruals of the 45. Accordingly, the reversal of pre-Transition Year DTLs should be excluded from the application of Testing Period. the DTL recapture rule in a way that is consistent with the Constituent Entity’s DTL recapture methodology.

46. For example, where the Constituent Entity uses the FIFO methodology to determine recaptured

1.2.3¶Simplification for Short-term DTLs

DTLs, DTL reversals shall be first allocated to pre-Transition Year DTLs and as such shall be excluded

from the computation of the Outstanding Balance. Once the amount of those pre-Transition Year DTLs is 39. A Constituent Entity that has an Aggregate DTL Category that is comprised exclusively of Short-

exhausted, the subsequent reversals will be included in the computation of the Outstanding Balance and term DTLs may benefit from the simplification described in the following paragraphs. If a Constituent

factored into the relevant DTL recapture methodology. Where the Constituent Entity uses LIFO as its DTL Entity’s existing Aggregate DTL Category contains Short-term DTLs and Long-term DTLs, it is allowed to

recapture methodology, the reversals for the Fiscal Year shall be first allocated to the Outstanding Balance separate the GL accounts with Short-term DTLs from the GL accounts with Long-term DTLs and apply this

to the extent thereof and then to pre-Transition Year DTL. simplification to the individual GL accounts or an Aggregate DTL Category that includes two or more of

such GL accounts. For example, a Constituent Entity may have an Aggregate DTL Category comprised of

1.2.5¶Changes in the scope of an Aggregate DTL Category

some GL accounts for inventory that will be reflected in the balance sheet for less than five years and some

GL accounts for inventory, such as replacement parts for manufactured products, that remains on the

47. It is expected that Constituent Entities will not want to frequently change their DTL categories balance sheet for a long period of time. If the Constituent Entity can separate that Aggregate DTL Category

because of the administrative burdens. However, a Constituent Entity may want or need to change the and separately determine the DTLs related to the replacement parts and the remainder of the inventory,

scope of an Aggregate DTL category in situations in which the chart of account or the reporting package the Constituent Entity can apply the simplification described below with respect to the remainder of the

set-up changes, for example, in connection with the combination of two MNE Groups or upgrades to the inventory.

MNE Group’s financial reporting and information systems. A Constituent Entity may want or need to change

40. The Constituent Entity may be able to demonstrate on the basis of objective facts, that all DTLs the scope of an Aggregate DTL Category for other reasons as well.

related to the assets or liabilities in a GL account or all DTLs included in an Aggregate DTL Category

To properly manage the transition, the Constituent Entity must determine the amount of its DTL recapture reverse within five fiscal years of the accrual year. In such cases, the Constituent Entity is not obligated to

attributes for each Aggregate DTL Category and allocate those amounts among the new DTL categories put in place a tracking system and recapture methodology to demonstrate that such DTLs have a short-

on a reasonable basis such that after the transition there will not be double counting or double nonterm reversal. These objective facts shall take into account (i) the difference between the tax base and the

counting. For this purpose, the DTL recapture attributes are (i) the amount of the Unjustified Balance, (ii) accounting carrying value, applicable to the relevant DTLs, and, where relevant (ii) the economic features

the Outstanding Balance of the Aggregate DTL Category, (iii) any amount of pre-Transition Year DTLs not of the underlying assets and liabilities. Short-term DTLs can benefit from this compliance simplification

yet reversed, and (iv) DTL accruals during the five-year period preceding the change. where the Constituent Entity is able to demonstrate the short-term reversal based on objective facts. For

this purpose, the Constituent Entity shall maintain proper evidence to support the conclusion that the DTLs

1.2.6¶Clarification on the Recapture Exception Accrual under Article 4.4.5(a)

have a short-term reversal period.

41. The guidance below provides examples illustrating the objective facts in relation to certain 48. A lessor of a tangible asset may use lease accounting to recover the cost of the leased property

circumstances that may be relevant for the purposes of demonstrating that DTLs are Short-term DTLs. for accounting purposes. Under lease accounting, the lessor may reflect the cost of the tangible asset that

is subject to the lease as a receivable in the financial accounts, rather than as a tangible asset. For tax 42. If a Constituent Entity’s existing practice of measuring DTLs has an Aggregate DTL Category that

purposes, however, the lessor may recover the cost of the leased property through depreciation, often has only Short-term DTLs and DTAs, the Constituent Entity is allowed to include the DTAs in the Aggregate

accelerated depreciation. In such cases, the timing of the cost recovery for the leased asset will be different DTL Category and to benefit from the Short-term DTL simplification.

for accounting and tax purposes and will often give rise to a deferred tax liability. That deferred tax liability

43. Where the Constituent Entity is no longer able to benefit from the Short-term DTL simplification for is with respect to cost recovery allowances on the leased property and is within the scope of Article 4.4.5(a)

a given GL account or an Aggregate DTL Category starting from a given Fiscal Year, the Constituent Entity if the leased property is a tangible asset.

will start applying the DTL recapture rule starting from that Fiscal Year. For example, this could happen as

a consequence of a change in the tax rules that causes DTLs to become Long-term DTLs. In order to apply 1.2.7. Unclaimed Accrual Election

the DTL recapture rule, the Constituent Entity shall determine whether the Aggregate DTL Category meets the aggregate tracking requirements and determine the applicable recapture methodology (FIFO or LIFO). 49. Article 4.4.7 provides an Annual Election which allows a Constituent Entity to exclude the DTL

accrual in a given Fiscal Year if it is not expected to reverse, in its entirety, by the end of the fifth subsequent The outstanding DTL for the relevant GL account or an Aggregate DTL Category (that meets the aggregate tracking requirements) as of the beginning of the Fiscal Year in which the simplification is no longer Fiscal Year. If the Unclaimed Accrual election is made, the reversal of the unclaimed DTL shall also be

excluded from the computation of the Adjusted Covered Taxes (pursuant to Article 4.4.2(a)). The DTL available shall be treated in the same manner as if they were pre-Transition Year DTLs (as set out below in the guidance). recapture rule only applies to the DTL accrual that is included in the computation of the Adjusted Covered

Taxes for the relevant Fiscal Year. If a DTL accrual is not included in the Adjusted Covered Taxes, it is not

subject to the DTL recapture rule.

1.2.4¶Reversal of DTLs that accrued before the Transition Year

50. The Unclaimed Accrual election is allowed in respect of DTLs that are not expected to reverse 44. The DTL recapture rule applies to DTLs that are included in the computation of Adjusted Covered

entirely within five Fiscal Years. The Unclaimed Accrual election must be made with respect to a DTL Taxes starting from the Transition Year. DTLs imported into the GloBE system pursuant to Article 9.1.1

consistently with the tracking approach used by the Constituent Entity for that DTL. If DTL are tracked are not subject to the DTL recapture rule (as stated in paragraph 6.3 of the Commentary to Article 9.1.1).

individually, the Unclaimed Accrual election must be made on each DTL on an item-by-item basis, if

tracking is based on a GL account, the election must be made for all the DTLs encompassed in the GL

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account, if tracking is based on Aggregate DTL Category, the election must be made for all the DTLs encompassed in the Aggregate DTL Category. It follows that the election cannot be made with respect to a subset of DTLs within a GL account or within an Aggregate DTL Category or a portion of the DTL accrued as an individual DTL. 51. A Constituent Entity may make an Unclaimed Accrual Annual Election with respect to DTLs that it expects will reverse in more than five years after accrual. A Constituent Entity may make an Unclaimed Accrual Five-Year Election with respect to a DTL for a GL account or an Aggregate DTL Category irrespective of any expectations about the reversal time period of the DTLs individually or the GL account or Aggregate DTL Category as a whole. 52. If an Unclaimed Accrual Five-Year Election is made in the Transition Year for a given DTL category (i.e. the DTL related to a GL account or an Aggregate DTL Category), all relevant DTL accruals and reversals of the DTL category shall be excluded from the Adjusted Covered Taxes until the election is revoked. The Constituent Entity must determine the amount in the Aggregate DTL Category or GL account that relate to the pre-Transition Year DTLs because reversals of pre-Transition Year DTLs should be included in the computation of Adjusted Covered Taxes. For this purpose, the first reversals in the Aggregate DTL Category or GL account shall be treated reversals of pre-Transition Year DTLs. 53. In cases where a Constituent Entity makes an Annual Election for an Unclaimed Accrual in some Fiscal Years but not in others or revokes a Five-Year Election for an Unclaimed Accrual, the Constituent Entity must apply the appropriate DTL tracking methodology to determine whether DTL reversals in subsequent Fiscal Years relate to claimed or unclaimed DTLs. 54. In cases where a Constituent Entity begins applying the DTL recapture rules to a GL account or an Aggregate DTL Category for which an Unclaimed Accrual election applied to all preceding Fiscal Years beginning with the Transition Year, reversals of the amount of DTL accrual that was not claimed in the previous Fiscal Years shall be ignored in the computation of Adjusted Covered Taxes. In determining which DTL reversals relate to Unclaimed Accruals in an Aggregate DTL Category or GL account, the Constituent Entity shall apply its methodology for determining which DTL reversals related to pre-Transition Year DTLs and treat the Unclaimed Accruals as arising chronologically after the pre-Transition Year DTLs and before any DTLs that are subject to the DTL recapture rule. For example, if the Constituent Entity uses the FIFO method as the recapture methodology for the Aggregate DTL Category, the DTL reversals will be treated as reversals of Unclaimed Accruals only after all of the pre-Transition Year DTLs have been reversed.

1.2.8¶QDMTT Considerations

55. A QDMTT generally must provide for Aggregate DTL Categories consistent with the principles and exclusions set out in the Commentary to Article 4.4.4 of the GloBE Rules. Application of those principles and exclusions to the DTLs that are tracked under a local accounting standard may result in categories that do not align with the Aggregate DTL Categories that would be used under the accounting standard required under Article 3.1.2 or Article 3.1.3. Accordingly, the Constituent Entity may have different Aggregate DTL Categories where a QDMTT (whether or not it meets the requirements of a QDMTT Safe Harbour) permits or requires QDMTT computations based on local financial accounting standards. 56. A QDMTT must provide for an Unclaimed Accrual election consistently with the principles set out in the Commentary to Article 4.4.7 of the GloBE Rules (including the Unclaimed Accrual Five-Year Election).

1.3¶Guidance

57. Paragraph 89 of the Commentary to Article 4.4.4 is replaced with the following paragraph:

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account, if tracking is based on Aggregate DTL Category, the election must be made for all the DTLs 89. Article 4.4.4 establishes a recapture rule (the DTL recapture rule) for categories of encompassed in the Aggregate DTL Category. It follows that the election cannot be made with respect to deferred tax liabilities (DTL), other than Recapture Exception Accruals defined in Article 4.4.5, that a subset of DTLs within a GL account or within an Aggregate DTL Category or a portion of the DTL accrued are included in the Total Deferred Tax Adjustment Amount in a Fiscal Year and do not reverse by as an individual DTL. the end of the fifth subsequent Fiscal Year. Pursuant to the DTL recapture rule, the amount of the

recaptured deferred tax liability has to be excluded from the Adjusted Covered Taxes in the Fiscal 51. A Constituent Entity may make an Unclaimed Accrual Annual Election with respect to DTLs that it

Year in which it was originally included in the Total Deferred Tax Adjustment Amount component expects will reverse in more than five years after accrual. A Constituent Entity may make an Unclaimed

of Adjusted Covered Taxes and the Effective Tax Rate for that Fiscal Year must be re-computed Accrual Five-Year Election with respect to a DTL for a GL account or an Aggregate DTL Category

under Article 5.4. A corollary of the DTL recapture rule is in Article 4.4.2(b). Article 4.4.2(b) irrespective of any expectations about the reversal time period of the DTLs individually or the GL account

excludes the reversal of a Recaptured DTL from the computation of the Total Deferred Tax or Aggregate DTL Category as a whole.

Adjustment amount in the Fiscal Year in which the reversal occurs. Article 4.4.4 and Article 4.4.2(b) 52. If an Unclaimed Accrual Five-Year Election is made in the Transition Year for a given DTL category ensure that deferred tax liabilities which reverse after five Fiscal Years are not taken into account (i.e. the DTL related to a GL account or an Aggregate DTL Category), all relevant DTL accruals and for GloBE purposes in the year of accrual, but in the year of the reversal. The term “payment” in reversals of the DTL category shall be excluded from the Adjusted Covered Taxes until the election is Article 4.4.4 and Article 4.4.2(b) refers to the accounting reversal of the DTL or of the recaptured revoked. The Constituent Entity must determine the amount in the Aggregate DTL Category or GL account DTL. that relate to the pre-Transition Year DTLs because reversals of pre-Transition Year DTLs should be

58. Paragraph 90 of the Commentary to Article 4.4.4 is revised to read as follows: included in the computation of Adjusted Covered Taxes. For this purpose, the first reversals in the Aggregate DTL Category or GL account shall be treated reversals of pre-Transition Year DTLs.

Principles for tracking DTLs under GloBE Rules

53. In cases where a Constituent Entity makes an Annual Election for an Unclaimed Accrual in some Fiscal Years but not in others or revokes a Five-Year Election for an Unclaimed Accrual, the Constituent 90. DTL recapture applies at the Constituent Entity level. For purposes of the DTL recapture Entity must apply the appropriate DTL tracking methodology to determine whether DTL reversals in rule, a Constituent Entity may track its DTLs according to three possible approaches: subsequent Fiscal Years relate to claimed or unclaimed DTLs.

a. on an item-by-item basis, where DTLs related to each single asset or liability are 54. In cases where a Constituent Entity begins applying the DTL recapture rules to a GL account or tracked individually, an Aggregate DTL Category for which an Unclaimed Accrual election applied to all preceding Fiscal Years b. on a General Ledger account (GL account) basis, where DTLs related to all the beginning with the Transition Year, reversals of the amount of DTL accrual that was not claimed in the assets or liabilities encompassed in a GL account are grouped and tracked as a previous Fiscal Years shall be ignored in the computation of Adjusted Covered Taxes. In determining which single DTL category, or DTL reversals relate to Unclaimed Accruals in an Aggregate DTL Category or GL account, the Constituent

c. on an Aggregate DTL Category basis (as defined in paragraph 90.6). Entity shall apply its methodology for determining which DTL reversals related to pre-Transition Year DTLs and treat the Unclaimed Accruals as arising chronologically after the pre-Transition Year DTLs and before The tracking approaches under (a) and (b) can be used for each DTL that is in scope of the DTL any DTLs that are subject to the DTL recapture rule. For example, if the Constituent Entity uses the FIFO recapture rule. However, DTLs may be tracked based on approach (c) only where the Aggregate method as the recapture methodology for the Aggregate DTL Category, the DTL reversals will be treated DTL Category is consistent with the principles and exclusions set out in paragraphs 90.6 through as reversals of Unclaimed Accruals only after all of the pre-Transition Year DTLs have been reversed. 90.11 (the aggregate tracking requirements). The Constituent Entity is allowed to set-up a tracking

system which may combine different tracking approaches for different DTLs in scope of the

recapture rule. For example, it may use the Aggregate DTL Category approach for the DTLs

1.2.8¶QDMTT Considerations

related to certain Balance Sheet accounts (BS accounts) (provided the requirements set out below 55. A QDMTT generally must provide for Aggregate DTL Categories consistent with the principles and are met), the GL account tracking approach for the DTLs related to certain GL accounts, and the exclusions set out in the Commentary to Article 4.4.4 of the GloBE Rules. Application of those principles item-by-item tracking for the DTLs encompassed in a GL account. A Constituent Entity cannot and exclusions to the DTLs that are tracked under a local accounting standard may result in categories aggregate only some DTLs in a GL account and track the remainder on an item-by-item basis. that do not align with the Aggregate DTL Categories that would be used under the accounting standard

59. The following paragraphs are inserted after paragraph 90 of the Commentary to Article 4.4.4: required under Article 3.1.2 or Article 3.1.3. Accordingly, the Constituent Entity may have different Aggregate DTL Categories where a QDMTT (whether or not it meets the requirements of a QDMTT Safe 90.1. The DTL recapture guidance set out below is based on the balance sheet model that is Harbour) permits or requires QDMTT computations based on local financial accounting standards. most commonly used by MNE Groups. In cases where other models of deferred tax accounting

are used, principles equivalent to the ones set out in this guidance must be applied. The Inclusive 56. A QDMTT must provide for an Unclaimed Accrual election consistently with the principles set out

Framework will consider whether further guidance is needed to assist in applying the principles of in the Commentary to Article 4.4.7 of the GloBE Rules (including the Unclaimed Accrual Five-Year

this guidance to other deferred tax accounting models. Election).

90.2. The principles and exceptions as well as the recapture methodologies set out below are

expected to produce outcomes that are consistent with the objective of the DTL recapture rule and 1.3. Guidance simultaneously address the risks of applying the DTL recapture rule to Aggregate DTL Categories.

The Inclusive Framework will evaluate the outcomes under the guidance set out below, giving 57. Paragraph 89 of the Commentary to Article 4.4.4 is replaced with the following paragraph:

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consideration to the amount potentially subject to recapture as well as the actual recaptured amount, and in 2028 assess the need for any changes to the guidance.

Exclusion of DTL related to items excluded from GloBE Income or Loss

90.3. Movements in DTLs that are related to items that do not factor into the computation of the GloBE Income or Loss are excluded from the computation of the Total Deferred Tax Adjustment Amount. Only DTLs which are claimed in the Total Deferred Tax Adjustment Amount are subject to the DTL Recapture rule. A DTL related to excluded items shall not be included in a GL account or Aggregate DTL Category. 90.4. For example, a DTL related to items which are accounted in Other Comprehensive Income should be excluded from the scope of the DTL recapture rule, unless Article 4.1.1(c) applies. If items accounted in Other Comprehensive Income are recycled through profit and loss, DTLs related to those items are included accordingly in the computation of the Total Deferred Tax Adjustment Amount and those DTLs are subject to the DTL recapture rule.

Recapture Exception Accruals

90.5. The DTL recapture rule does not apply to a DTL that meets the definition of a Recapture Exception Accrual in Article 4.4.5. However, if a Constituent Entity has a GL account or Aggregate DTL Category that includes one or more DTLs that is a Recapture Exception Accrual, the DTL recapture rule will apply with respect to the GL account or the entire Aggregate DTL Category.

Principles for aggregating DTLs under GloBE Rules

90.6. For purposes of the DTL recapture rule, a Constituent Entity may track DTLs on an Aggregate DTL Category basis, rather than an item-by-item tracking or based on a single GL account. An Aggregate DTL Category means a category of DTLs determined in relation to two or more GL accounts that, consistent with the chart of accounts used for the purposes of Article 3.1.2 or 3.1.3, fall under the same balance sheet account or sub-balance sheet account. An Aggregate DTL Category is not required to include all of the GL accounts that fall under the same balance sheet account. A Constituent Entity may have more than one Aggregate DTL Category that falls under the same balance sheet account. 90.7. An Aggregate DTL Category may include Short-term DTLs and Long-term DTLs. A Shortterm DTL is an individual DTL that fully reverses within five Fiscal Years or a DTL that is determined in relation to a GL account and that fully reverses within five Fiscal Years. A Long-term DTL is an individual DTL that does not fully reverse within five Fiscal Years or a DTL that is determined in relation to a GL account and that does not fully reverse within five Fiscal Years. 90.8. Where a Constituent Entity cannot demonstrate that an Aggregate DTL Category satisfies the aggregate tracking requirements (set out in paragraphs 90.6 through 90.11) or the conditions for the simplification for Short-term DTLs, the Constituent Entity cannot claim the accrual of that DTL in the computation of its Adjusted Covered Taxes. Where a Constituent Entity fulfils the aggregate tracking requirements but cannot demonstrate that the Aggregate DTL category satisfies the requirements described in paragraphs 90.19 or 90.21 (the FIFO requirements), the Constituent Entity must apply LIFO recapture methodology.

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consideration to the amount potentially subject to recapture as well as the actual recaptured Exclusions from Aggregate DTL Categories amount, and in 2028 assess the need for any changes to the guidance.

Exclusion of certain types of GL accounts and separate tracking

Exclusion of DTL related to items excluded from GloBE Income or Loss

90.9. Considering the risks of Aggregate DTL Categories, the Inclusive Framework has

determined that DTLs related to certain assets and liabilities may be aggregated up to the GL 90.3. Movements in DTLs that are related to items that do not factor into the computation of the

account and cannot be aggregated with other GL accounts. DTLs related to the following assets GloBE Income or Loss are excluded from the computation of the Total Deferred Tax Adjustment

or liabilities that might be claimed in the computation of Adjusted Covered Taxes may be Amount. Only DTLs which are claimed in the Total Deferred Tax Adjustment Amount are subject

aggregated for purposes of the DTL recapture rule only up to the GL account level: to the DTL Recapture rule. A DTL related to excluded items shall not be included in a GL account or Aggregate DTL Category. a) Non-amortizable intangible assets, including goodwill;

b) Amortizable intangible assets with an accounting life of more than five years; and 90.4. For example, a DTL related to items which are accounted in Other Comprehensive Income should be excluded from the scope of the DTL recapture rule, unless Article 4.1.1(c) applies. If c) Related party receivables and payables. items accounted in Other Comprehensive Income are recycled through profit and loss, DTLs

Exclusion of GL accounts that generate DTAs

related to those items are included accordingly in the computation of the Total Deferred Tax Adjustment Amount and those DTLs are subject to the DTL recapture rule. 90.10. The inclusion of a GL account that on a standalone basis generates a DTA in an Aggregate

DTL Category would have the distortive effect of diminishing the DTLs subject to recapture Recapture Exception Accruals because the DTA accrual would have the same effect as a DTL reversal and therefore it would

appear that part of the DTL has reversed when it has not. An Aggregate DTL Category cannot 90.5. The DTL recapture rule does not apply to a DTL that meets the definition of a Recapture include any GL account that on a standalone basis would always generate only DTA (except as Exception Accrual in Article 4.4.5. However, if a Constituent Entity has a GL account or Aggregate

provided in the simplification for Short-term DTLs, set out in paragraphs 90.25 through 90.29 DTL Category that includes one or more DTLs that is a Recapture Exception Accrual, the DTL below). A Constituent Entity will need to be able to demonstrate that the accounting and tax timing recapture rule will apply with respect to the GL account or the entire Aggregate DTL Category.

differences in respect of the assets and liabilities in the GL accounts encompassed by the

Aggregate DTL Category can only generate a DTL.

Principles for aggregating DTLs under GloBE Rules

Exclusion of swinging accounts and separate tracking

90.6. For purposes of the DTL recapture rule, a Constituent Entity may track DTLs on an

90.11. A swinging account is a GL account for which variances in the accounting and tax timing Aggregate DTL Category basis, rather than an item-by-item tracking or based on a single GL

rules result in a net DTA or a net DTL at different points over the life of the encompassed assets account. An Aggregate DTL Category means a category of DTLs determined in relation to two or

or liabilities. Including a swinging account in an Aggregate DTL Category can create the same more GL accounts that, consistent with the chart of accounts used for the purposes of Article 3.1.2

distortion as including a GL account with a DTA nature in the Aggregate DTL Category. Moreover, or 3.1.3, fall under the same balance sheet account or sub-balance sheet account. An Aggregate

an aggregation of swinging accounts causes the same issue to arise because when a GL account DTL Category is not required to include all of the GL accounts that fall under the same balance

swings to a DTA balance the Aggregate DTL Category will appear to have a reversal of a DTL. sheet account. A Constituent Entity may have more than one Aggregate DTL Category that falls

Considering the risks of Aggregate DTL Categories, the Inclusive Framework has determined that under the same balance sheet account.

swinging accounts cannot be aggregated with other GL accounts. DTLs related to swinging 90.7. An Aggregate DTL Category may include Short-term DTLs and Long-term DTLs. A Short- accounts that are claimed in the computation of Adjusted Covered Taxes must be tracked term DTL is an individual DTL that fully reverses within five Fiscal Years or a DTL that is determined separately for purposes of the DTL recapture rule at the level of a single GL account. in relation to a GL account and that fully reverses within five Fiscal Years. A Long-term DTL is an individual DTL that does not fully reverse within five Fiscal Years or a DTL that is determined in Mechanisms to recapture Long-term DTLs relation to a GL account and that does not fully reverse within five Fiscal Years.

General principles

90.8. Where a Constituent Entity cannot demonstrate that an Aggregate DTL Category satisfies the aggregate tracking requirements (set out in paragraphs 90.6 through 90.11) or the conditions

90.12. The DTL recapture rule is intended to recapture the benefit of including a DTL accrual in for the simplification for Short-term DTLs, the Constituent Entity cannot claim the accrual of that the ETR computation if that DTL does not reverse within five Fiscal Years. Determining when a DTL in the computation of its Adjusted Covered Taxes. Where a Constituent Entity fulfils the

particular DTL reverses presents some challenges because Constituent Entities typically do not aggregate tracking requirements but cannot demonstrate that the Aggregate DTL category create a separate DTL for each transaction and then reverse that DTL when the relevant carrying satisfies the requirements described in paragraphs 90.19 or 90.21 (the FIFO requirements), the

value and tax basis come back into line. Instead, Constituent Entities typically compare the Constituent Entity must apply LIFO recapture methodology. difference between the year-end carrying value and tax basis of assets and liabilities reflected in

a GL account or a group of GL accounts to determine the DTL in respect of those assets or

liabilities. The deferred tax expense attributable to a DTL reported in the income statement is based

on the net movement in the balance of the DTL from the end of the previous year. For DTL

recapture purposes, where DTL tracking is performed on an aggregate basis, the net increase of

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the balance of the Aggregate DTL Category or GL account is treated as a DTL accrual and the net decrease is treated as a DTL reversal. 90.13. The DTL balance related to a GL account or to an Aggregate DTL Category may remain constant even where assets and liabilities are recorded and reversed for accounting and tax purposes if other assets and liabilities are also recorded in the relevant GL account(s). To illustrate, assume CE1 acquires an asset on the last day of Year 1 and the cost of acquiring the asset is fully deductible for tax purposes in the year of the acquisition (Year 1) and amortized over two years starting from when it is first used for accounting purposes (Year 2). If CE1 acquires the asset for 100 and has a 15% tax rate, it will record a DTL of 15 at the end of Year 1. The DTL related to the asset at the end of Year 2 will be 7.5. However, if another similar asset is purchased for 100 in Year 2 and starts to be amortized in Year 2, the net balance of the DTL in Year 2 will remain at 15. 90.14. In the example, it appears that part of the DTL from Year 1 reversed in Year 2 and the DTL reflected in the ending balance was a new accrual. However, MNE Groups may not commonly make accounting entries that reflect whether the DTLs at any given point in time are in relation to pre-existing or newly acquired assets or liabilities. Their financial accounts only indicate whether, in the aggregate, there is an accrual of a DTL (i.e. a net increase in the DTL balance) or reversal of part or all of the DTL (i.e. a net decrease in the DTL balance). 90.15. Because MNE Groups generally do not trace the balance of a DTL to particular assets or liabilities reflected in the corresponding Aggregate DTL Category or GL account, a methodology with certain assumptions is needed to determine whether a reversal (i.e. a decrease in the ending balance) relates to amounts that accrued in the preceding five Fiscal Years or to amounts that were previously subject to recapture under Article 4.4.4. One approach would be to assume that reversals relate to the oldest accruals. This would be a first-in, first-out or FIFO methodology. Another approach would be to assume that reversals relate to the most recent accruals. This would be a last-in, first-out or LIFO methodology. 90.16. These different methodologies produce different outcomes in terms of the amount of DTLs recaptured and the Fiscal Years in which the recapture occurs. They will further result in the corresponding recapture reversal (pursuant to Article 4.4.2(b)) occurring in different Fiscal Years. However, it is not possible to determine in absolute terms whether a particular methodology is more or less favourable for the taxpayer (in terms of amount overall subject to recapture) in all cases, because it depends on the actual trend of DTL increases and decreases in the year-end balances of a given Aggregate DTL Category or GL account. 90.17. Nevertheless, in the case of Aggregate DTL Categories, the FIFO methodology could shield an un-reversed DTL accrual from recapture in some circumstances. The risk arises where the Aggregate DTL Category contains GL accounts that have both Short-term DTLs and Longterm DTLs. In such cases, the accruals and reversals in the Short-term DTLs can make it appear on a FIFO basis that all of the DTLs have reversed within five years when in fact, the Long-term DTLs remain outstanding for more than five years. 90.18. The LIFO methodology is a more conservative approach because it mitigates the risk that the Long-term DTLs encompassed by an Aggregate DTL Category would not be recaptured after five years or that the relevant recapture would be postponed indefinitely. 90.19. A Constituent Entity may use the FIFO methodology to determine reversals in the following cases:

a) The DTL is determined in relation to a single GL account;

b) The DTL is determined in relation to an Aggregate DTL Category that consists solely

of DTLs determined in relation to GL accounts with a similar reversal trend (see

paragraph 90.20); or

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the balance of the Aggregate DTL Category or GL account is treated as a DTL accrual and the net c) The DTLs are aggregated within an Aggregate DTL Category without a similar reversal

decrease is treated as a DTL reversal. trend but where MNE can demonstrate that the FIFO methodology nevertheless

results in appropriate recapture of DTLs to the extent their reversal trend extends 90.13. The DTL balance related to a GL account or to an Aggregate DTL Category may remain

beyond 5 years (see paragraph 90.21). constant even where assets and liabilities are recorded and reversed for accounting and tax

purposes if other assets and liabilities are also recorded in the relevant GL account(s). To illustrate, For any Aggregate DTL Category for which the Constituent Entity does not choose to use the FIFO

assume CE1 acquires an asset on the last day of Year 1 and the cost of acquiring the asset is fully methodology or for which it cannot demonstrate that the conditions above are satisfied, the LIFO

deductible for tax purposes in the year of the acquisition (Year 1) and amortized over two years methodology must be used.

starting from when it is first used for accounting purposes (Year 2). If CE1 acquires the asset for

90.20. DTLs related to an Aggregate DTL Category are considered to have a similar reversal 100 and has a 15% tax rate, it will record a DTL of 15 at the end of Year 1. The DTL related to the

trend (for the purposes of paragraph 90.19(b) above) if such DTLs fully reverse within a two-year asset at the end of Year 2 will be 7.5. However, if another similar asset is purchased for 100 in

period of each other. For example, if all of the DTLs related to GL accounts in an Aggregate DTL Year 2 and starts to be amortized in Year 2, the net balance of the DTL in Year 2 will remain at 15.

Category will fully reverse between 9 and 11 years from the Fiscal Year in which they arise, those

90.14. In the example, it appears that part of the DTL from Year 1 reversed in Year 2 and the DTLs have a similar reversal trend.

DTL reflected in the ending balance was a new accrual. However, MNE Groups may not commonly

90.21. A Constituent Entity may be able to demonstrate that the FIFO method appropriately make accounting entries that reflect whether the DTLs at any given point in time are in relation to

recaptures Long-term DTLs based on facts and circumstances (for the purposes of paragraph pre-existing or newly acquired assets or liabilities. Their financial accounts only indicate whether,

90.19(c) above) related to the nature of the transactions and the relevant tax rules. For example, in the aggregate, there is an accrual of a DTL (i.e. a net increase in the DTL balance) or reversal

a Constituent Entity may be able to demonstrate that the DTLs in respect of an Aggregate DTL of part or all of the DTL (i.e. a net decrease in the DTL balance).

Category reverse ratably over a 10-year period beginning in the Fiscal Year after the accrual and

90.15. Because MNE Groups generally do not trace the balance of a DTL to particular assets or that the FIFO method recaptures half of the DTL accruals related to that Aggregate DTL Category.

liabilities reflected in the corresponding Aggregate DTL Category or GL account, a methodology

90.22. The functioning of both the FIFO and LIFO methodology of determining DTL reversals and with certain assumptions is needed to determine whether a reversal (i.e. a decrease in the ending

recapture is based on the determination of the Unjustified Balance in the current Fiscal Year (i.e. balance) relates to amounts that accrued in the preceding five Fiscal Years or to amounts that

the fifth subsequent Fiscal Year after the tested Fiscal Year). The Tested Fiscal Year is the one in were previously subject to recapture under Article 4.4.4. One approach would be to assume that

which the DTL accrual occurs and is claimed in the Adjusted Covered Taxes (to be subject to DTL reversals relate to the oldest accruals. This would be a first-in, first-out or FIFO methodology.

recapture rule). The Testing Period is the five-year period which follows the Tested Fiscal Year. Another approach would be to assume that reversals relate to the most recent accruals. This would

The Unjustified Balance represents the total amount of the DTL that has not been reversed before be a last-in, first-out or LIFO methodology.

the end of Testing Period (i.e. the total amount of recaptured DTL) and is determined as the excess

90.16. These different methodologies produce different outcomes in terms of the amount of DTLs (if any) of the Outstanding Balance of the DTL over the Maximum Justifiable Amount for that

recaptured and the Fiscal Years in which the recapture occurs. They will further result in the category. The Outstanding Balance is the DTL balance as of the end of the Testing Period

corresponding recapture reversal (pursuant to Article 4.4.2(b)) occurring in different Fiscal Years. computed starting from the Transition Year. The Maximum Justifiable Amount is determined in two

However, it is not possible to determine in absolute terms whether a particular methodology is different ways depending on whether the FIFO or LIFO methodology applies. See paragraphs

more or less favourable for the taxpayer (in terms of amount overall subject to recapture) in all 90.23 and 90.24 below. If the Maximum Justifiable Amount is equal to or greater than the

cases, because it depends on the actual trend of DTL increases and decreases in the year-end Outstanding Balance of the Aggregate DTL Category or GL account, there is no DTL recapture for

balances of a given Aggregate DTL Category or GL account. the tested Fiscal Year. If the Maximum Justifiable amount is lower than the Outstanding balance

of the Aggregate DTL Category or GL account, the difference is an Unjustified Balance. The 90.17. Nevertheless, in the case of Aggregate DTL Categories, the FIFO methodology could

Unjustified Balance is compared with the previous year Unjustified Balance amount (if any), in shield an un-reversed DTL accrual from recapture in some circumstances. The risk arises where

order to determine whether there is an increase or a decrease for the relevant tested Fiscal Year. the Aggregate DTL Category contains GL accounts that have both Short-term DTLs and Long-

If the Unjustified Balance increases in the current Fiscal Year, the amount of the increase term DTLs. In such cases, the accruals and reversals in the Short-term DTLs can make it appear

represents the DTL accrual which shall be recaptured (i.e. excluded from the computation of the on a FIFO basis that all of the DTLs have reversed within five years when in fact, the Long-term

Adjusted Covered Taxes of the tested Fiscal Year in the ETR re-computation under Article 5.4). If DTLs remain outstanding for more than five years.

the Unjustified Balance decreases in the current Fiscal Year, the amount of the decrease must be

90.18. The LIFO methodology is a more conservative approach because it mitigates the risk that treated either as a reversal of a recaptured DTL, or reversal of an Unclaimed Accrual, or reversal

the Long-term DTLs encompassed by an Aggregate DTL Category would not be recaptured after of pre-Transition Year DTL.

five years or that the relevant recapture would be postponed indefinitely.

FIFO Methodology

90.19. A Constituent Entity may use the FIFO methodology to determine reversals in the following

cases:

90.23. Under the FIFO methodology, the Maximum Justifiable amount corresponds to the sum

a) The DTL is determined in relation to a single GL account; of the net increases in the outstanding DTL balance for each Fiscal Year in the five-year testing

period in which there was a net increase in the outstanding DTL balance. In this way, a net

b) The DTL is determined in relation to an Aggregate DTL Category that consists solely

decrease in the DTL balance with a Fiscal Year (representing, on net, a reversal) is considered to

of DTLs determined in relation to GL accounts with a similar reversal trend (see

reduce the net increase in DTL balance in the earliest Fiscal Year in chronological order. paragraph 90.20); or

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LIFO Methodology

90.24. Under the LIFO methodology, the Maximum Justifiable amount is determined as the greater of zero or the net amount of the DTL accruals and reversals that occurred during the fiveyear testing period. In this way, the reversals occurring during the Testing Period are first allocated to the DTL accruals of the Testing Period.

Simplification for Short-term DTLs

Aggregation of Short-term DTLs

90.25. A Constituent Entity that has an Aggregate DTL Category that is comprised exclusively of Short-term DTLs may benefit from the simplification described in the following paragraphs. If a Constituent Entity’s existing Aggregate DTL Category contains Short-term DTLs and Long-term DTLs, it is allowed to separate the GL accounts with Short-term DTLs from the GL accounts with Long-term DTLs and apply this simplification to the individual GL accounts or an Aggregate DTL Category that includes two or more of such GL accounts. For example, a Constituent Entity may have an Aggregate DTL Category comprised of some GL accounts for inventory that will be reflected in the balance sheet for less than five years and some GL accounts for inventory, such as replacement parts for manufactured products, that remains on the balance sheet for a long period of time. If the Constituent Entity can separate that Aggregate DTL Category and separately determine the DTLs related to the replacement parts and the remainder of the inventory, the Constituent Entity can apply the simplification described below with respect to the remainder of the inventory. 90.26. The Constituent Entity may be able to demonstrate on the basis of objective facts, that all DTLs related to the assets or liabilities in a GL account or all DTLs included in an Aggregate DTL Category reverse within five fiscal years of the accrual year. In such cases, the Constituent Entity is not obligated to put in place a tracking system and recapture methodology to demonstrate that such DTLs have a short-term reversal. These objective facts shall take into account (i) the difference between the tax base and the accounting carrying value, applicable to the relevant DTLs, and, where relevant (ii) the economic features of the underlying assets and liabilities. Shortterm DTLs can benefit from this compliance simplification where the Constituent Entity is able to demonstrate the short-term reversal based on objective facts. For this purpose, the Constituent Entity shall maintain proper evidence to support the conclusion that the DTLs have a short-term reversal period. 90.27. The following examples illustrate the objective facts that may be relevant for purposes of demonstrating that specific DTLs are Short-term DTLs.

a) For DTLs related to amortizable assets that are not Recapture Exception Accruals under Article 4.4.5, it may be possible to objectively determine that the reversal occurs within five years where, for example, a purchased intangible asset (e.g. customer list) is amortized using the straight-line method for accounting purposes in ten years, while the tax amortization period (also based on the straight-line method) is set at five years, it is possible to objectively determine that the reversal will occur within five years of the accrual. b) For DTLs related to certain receivables, the tax timing rule may follow the cash basis principle (i.e. the revenue is included in the taxable income in the year of actual receipt) while for accounting purposes, revenue recognition follows the accrual basis principle (e.g. when the payment is due under the contract). In such case, where the Constituent Entity is able to demonstrate that the receivables related to such DTLs are collected, written-off (or monetized in other ways, e.g. via subsequent sale, where relevant for tax purposes)

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LIFO Methodology within five years of when the payment is due, it can benefit from the Short-term DTL

simplification. For this purpose, the Constituent Entity may take into account the terms of 90.24. Under the LIFO methodology, the Maximum Justifiable amount is determined as the payment as reflected in the underlying contracts, historical observation of account greater of zero or the net amount of the DTL accruals and reversals that occurred during the five- collections, its policies and practices concerning expensing bad debts, and any other year testing period. In this way, the reversals occurring during the Testing Period are first allocated circumstance which can be objectively observed and documented. to the DTL accruals of the Testing Period.

c) For DTLs related to a tax rule that allows deferral of gain from the sale of property for up

to a maximum of five years, it is possible to objectively determine that the reversal of such

Simplification for Short-term DTLs

DTLs occur within five-years.

d) DTLs related to certain deferred costs that are not Recapture Exception Accruals under

Aggregation of Short-term DTLs

Article 4.4.5 might arise because the accounting rule requires the expenses to be spread 90.25. A Constituent Entity that has an Aggregate DTL Category that is comprised exclusively of over the relevant economic life of the asset, or contract, or service to which it refers (e.g. Short-term DTLs may benefit from the simplification described in the following paragraphs. If a license for the utilization of software), while for tax purposes the cost is fully deducted in

the year of the actual payment. In such cases, where the Constituent Entity is able to Constituent Entity’s existing Aggregate DTL Category contains Short-term DTLs and Long-term DTLs, it is allowed to separate the GL accounts with Short-term DTLs from the GL accounts with demonstrate that the economic life over which the deferred costs are spread for Long-term DTLs and apply this simplification to the individual GL accounts or an Aggregate DTL accounting purposes, is not longer than five years, it will be able to benefit from the DTL Category that includes two or more of such GL accounts. For example, a Constituent Entity may Short-term simplification. have an Aggregate DTL Category comprised of some GL accounts for inventory that will be e) DTLs might arise in relation to long-term contracts where the accounting revenue reflected in the balance sheet for less than five years and some GL accounts for inventory, such recognition criteria follows the percentage of completion method while for tax purposes as replacement parts for manufactured products, that remains on the balance sheet for a long revenue are taxable only at the completion of the contract (irrespective of when payments period of time. If the Constituent Entity can separate that Aggregate DTL Category and separately on the contract are received). In such cases, where the Constituent Entity can demonstrate determine the DTLs related to the replacement parts and the remainder of the inventory, the that the duration of each construction contract is shorter than five years, it can benefit from Constituent Entity can apply the simplification described below with respect to the remainder of the the Short-term DTL simplification. inventory.

f) DTLs might arise in relation to inventory of fungible goods where the accounting valuation 90.26. The Constituent Entity may be able to demonstrate on the basis of objective facts, that all criteria are different from the one used for tax purposes. For example, where the DTLs related to the assets or liabilities in a GL account or all DTLs included in an Aggregate DTL Constituent Entity uses the FIFO inventory method for both tax and accounting purposes Category reverse within five fiscal years of the accrual year. In such cases, the Constituent Entity but uses a valuation technique for inventory that consistently results in a lower value for is not obligated to put in place a tracking system and recapture methodology to demonstrate that tax purposes than for accounting purposes and is able to demonstrate that the inventory such DTLs have a short-term reversal. These objective facts shall take into account (i) the is sold over a period that is shorter than five fiscal year, it will be able to benefit from the difference between the tax base and the accounting carrying value, applicable to the relevant Short-term DTLs simplification. DTLs related to long-term inventories (for example, aged DTLs, and, where relevant (ii) the economic features of the underlying assets and liabilities. Short- wine or spirits) are expected not to be able to benefit from the Short-term DTL term DTLs can benefit from this compliance simplification where the Constituent Entity is able to simplification. demonstrate the short-term reversal based on objective facts. For this purpose, the Constituent

90.28. If a Constituent Entity’s existing practice of measuring DTLs has an Aggregate DTL Entity shall maintain proper evidence to support the conclusion that the DTLs have a short-term

Category that has only Short-term DTLs and DTAs, the Constituent Entity is allowed to include the reversal period.

DTAs in the Aggregate DTL Category and to benefit from the Short-term DTL simplification. 90.27. The following examples illustrate the objective facts that may be relevant for purposes of

90.29. Where the Constituent Entity is no longer able to benefit from the Short-term DTL demonstrating that specific DTLs are Short-term DTLs.

simplification for a given GL account or an Aggregate DTL Category starting from a given Fiscal

a) For DTLs related to amortizable assets that are not Recapture Exception Accruals under Year, the Constituent Entity will start applying the DTL recapture rule starting from that Fiscal Year.

Article 4.4.5, it may be possible to objectively determine that the reversal occurs within For example, this could happen as a consequence of a change in the tax rules that causes DTLs

five years where, for example, a purchased intangible asset (e.g. customer list) is to become Long-term DTLs. In order to apply the DTL recapture rule, the Constituent Entity shall

amortized using the straight-line method for accounting purposes in ten years, while the determine whether the Aggregate DTL Category meets the aggregate tracking requirements and

tax amortization period (also based on the straight-line method) is set at five years, it is determine the applicable recapture methodology (FIFO or LIFO). The outstanding DTL for the

possible to objectively determine that the reversal will occur within five years of the accrual. relevant GL account or an Aggregate DTL Category (that meets the aggregate tracking

requirements) as of the beginning of the Fiscal Year in which the simplification is no longer

b) For DTLs related to certain receivables, the tax timing rule may follow the cash basis

available shall be treated in the same manner as if they were pre-Transition Year DTLs (as

principle (i.e. the revenue is included in the taxable income in the year of actual receipt)

provided in paragraph 90.30 and 90.31 below). while for accounting purposes, revenue recognition follows the accrual basis principle (e.g. when the payment is due under the contract). In such case, where the Constituent Entity is able to demonstrate that the receivables related to such DTLs are collected, written-off (or monetized in other ways, e.g. via subsequent sale, where relevant for tax purposes)

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Reversal of DTLs that accrued before the Transition Year

90.30. The DTL recapture rule applies to DTLs that are included in the computation of Adjusted Covered Taxes starting from the Transition Year. DTLs imported into the GloBE system pursuant to Article 9.1.1 are not subject to the DTL recapture rule (as stated in paragraph 6.3 of the Commentary to Article 9.1.1). 90.31. Accordingly, the reversal of pre-Transition Year DTLs should be excluded from the application of the DTL recapture rule in a way that is consistent with the Constituent Entity’s DTL recapture methodology. For example, where the Constituent Entity uses the FIFO methodology to determine recaptured DTLs, DTL reversals shall be first allocated to pre-Transition Year DTLs and as such shall be excluded from the computation of the Outstanding Balance. Once the amount of those pre-Transition Year DTLs is exhausted, the subsequent reversals will be included in the computation of the Outstanding Balance and factored into the relevant DTL recapture methodology. Where the Constituent Entity uses LIFO as its DTL recapture methodology, the reversals for the Fiscal Year shall be first allocated to the Outstanding Balance to the extent thereof and then to pre-Transition Year DTL.

Changes in the scope of an Aggregate DTL Category

90.32. It is expected that Constituent Entities will not want to frequently change their GL account or Aggregate DTL Categories because of the administrative burdens. However, a Constituent Entity may want or need to change the scope of a GL account or Aggregate DTL Category in situations in which the chart of account or the reporting package set-up changes, for example, in connection with the combination of two MNE Groups or upgrades to the MNE Group’s financial reporting and information systems. A Constituent Entity may want or need to change the scope of a GL account or Aggregate DTL Category for other reasons as well. 90.33. To properly manage the transition, the Constituent Entity must determine the amount of its DTL recapture attributes for each GL account or Aggregate DTL Category and allocate those amounts among the new GL accounts or Aggregate DTL Categories on a reasonable basis such that after the transition there will not be double counting or double non-counting. For this purpose, the DTL recapture attributes are (i) the amount of the Unjustified Balance, (ii) the Outstanding Balance of the GL account or Aggregate DTL Category, (iii) any amount of pre-Transition Year DTLs not yet reversed, and (iv) DTL accruals during the five-year period preceding the change.

Clarification on the scope of the Recapture Exception Accrual under Article 4.4.5(a)

60. The following paragraph is inserted after paragraph 95 of the Commentary to Article 4.4.5: 95.1 A lessor of a tangible asset may use lease accounting to recover the cost of the leased property for accounting purposes. Under lease accounting, the lessor may reflect the cost of the tangible asset that is subject to the lease as a receivable in the financial accounts, rather than as a tangible asset. For tax purposes, however, the lessor may recover the cost of the leased property through depreciation, often accelerated depreciation. In such cases, the timing of the cost recovery for the leased asset will be different for accounting and tax purposes and will often give rise to a deferred tax liability. That deferred tax liability is with respect to cost recovery allowances on the leased property and is within the scope of Article 4.4.5(a) if the leased property is a tangible asset.

Unclaimed Accrual Election

61. The following paragraphs are inserted after paragraph 112 of the Commentary to Article 4.4.7:

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Reversal of DTLs that accrued before the Transition Year 112.1 Article 4.4.7 provides an Annual Election which allows a Constituent Entity to exclude the

DTL accrual in a given Fiscal Year if it is not expected to reverse, in its entirety, by the end of the 90.30. The DTL recapture rule applies to DTLs that are included in the computation of Adjusted

fifth subsequent Fiscal Year. If the Unclaimed Accrual election is made, the reversal of the Covered Taxes starting from the Transition Year. DTLs imported into the GloBE system pursuant unclaimed DTL shall also be excluded from the computation of the Adjusted Covered Taxes to Article 9.1.1 are not subject to the DTL recapture rule (as stated in paragraph 6.3 of the

(pursuant to Article 4.4.2(a)). The DTL recapture rule only applies to the DTL accrual that is Commentary to Article 9.1.1). included in the computation of the Adjusted Covered Taxes for the relevant Fiscal Year. If a DTL

90.31. Accordingly, the reversal of pre-Transition Year DTLs should be excluded from the accrual is not included in the Adjusted Covered Taxes, it is not subject to the DTL recapture rule. application of the DTL recapture rule in a way that is consistent with the Constituent Entity’s DTL 112.2 The Unclaimed Accrual election is allowed in respect of DTLs that are not expected to

recapture methodology. For example, where the Constituent Entity uses the FIFO methodology to reverse entirely within five Fiscal Years. The Unclaimed Accrual election must be made with determine recaptured DTLs, DTL reversals shall be first allocated to pre-Transition Year DTLs and respect to a DTL consistently with the tracking approach used by the Constituent Entity for that as such shall be excluded from the computation of the Outstanding Balance. Once the amount of

DTL. If DTL are tracked individually, the Unclaimed Accrual election must be made on each DTL those pre-Transition Year DTLs is exhausted, the subsequent reversals will be included in the on an item-by-item basis, if tracking is based on a GL account, the election must be made for all computation of the Outstanding Balance and factored into the relevant DTL recapture

the DTLs encompassed in the GL account, if tracking is based on Aggregate DTL Category, the methodology. Where the Constituent Entity uses LIFO as its DTL recapture methodology, the election must be made for all the DTLs encompassed in the Aggregate DTL Category. It follows reversals for the Fiscal Year shall be first allocated to the Outstanding Balance to the extent thereof

that the election cannot be made with respect to a subset of DTLs within a GL account or within and then to pre-Transition Year DTL. an Aggregate DTL Category or a portion of the DTL accrued as an individual DTL.

112.3 A Constituent Entity may make an Unclaimed Accrual Annual Election with respect to

Changes in the scope of an Aggregate DTL Category

DTLs that it expects will reverse in more than five years after accrual. A Constituent Entity may 90.32. It is expected that Constituent Entities will not want to frequently change their GL account make an Unclaimed Accrual Five-Year Election with respect to a DTL for a GL account or an or Aggregate DTL Categories because of the administrative burdens. However, a Constituent Aggregate DTL Category irrespective of any expectations about the reversal time period of the Entity may want or need to change the scope of a GL account or Aggregate DTL Category in DTLs individually or the GL account or Aggregate DTL Category as a whole.

situations in which the chart of account or the reporting package set-up changes, for example, in

112.4. If an Unclaimed Accrual Five-Year Election is made in the Transition Year for a given DTL connection with the combination of two MNE Groups or upgrades to the MNE Group’s financial

category (i.e. the DTL related to a GL account or an Aggregate DTL Category), all relevant DTL reporting and information systems. A Constituent Entity may want or need to change the scope of

accruals and reversals of the DTL category shall be excluded from the Adjusted Covered Taxes a GL account or Aggregate DTL Category for other reasons as well.

until the election is revoked. The Constituent Entity must determine the amount in the Aggregate 90.33. To properly manage the transition, the Constituent Entity must determine the amount of DTL Category or GL account that relate to the pre-Transition Year DTLs because reversals of preits DTL recapture attributes for each GL account or Aggregate DTL Category and allocate those Transition Year DTLs should be included in the computation of Adjusted Covered Taxes. For this amounts among the new GL accounts or Aggregate DTL Categories on a reasonable basis such purpose, the first reversals in the Aggregate DTL Category or GL account shall be treated reversals that after the transition there will not be double counting or double non-counting. For this purpose, of pre-Transition Year DTLs.

the DTL recapture attributes are (i) the amount of the Unjustified Balance, (ii) the Outstanding

112.5. In cases where a Constituent Entity makes an Annual Election for an Unclaimed Accrual Balance of the GL account or Aggregate DTL Category, (iii) any amount of pre-Transition Year

in some Fiscal Years but not in others or revokes a Five-Year Election for an Unclaimed Accrual, DTLs not yet reversed, and (iv) DTL accruals during the five-year period preceding the change.

the Constituent Entity must apply the appropriate DTL tracking methodology to determine whether

DTL reversals in subsequent Fiscal Years relate to claimed or unclaimed DTLs.

Clarification on the scope of the Recapture Exception Accrual under Article

112.6. In cases where a Constituent Entity begins applying the DTL recapture rules to a GL

4.4.5(a)

account or an Aggregate DTL Category for which an Unclaimed Accrual election applied to all 60. The following paragraph is inserted after paragraph 95 of the Commentary to Article 4.4.5: preceding Fiscal Years beginning with the Transition Year, reversals of the amount of DTL accrual

that was not claimed in the previous Fiscal Years shall be ignored in the computation of Adjusted 95.1 A lessor of a tangible asset may use lease accounting to recover the cost of the leased

Covered Taxes. In determining which DTL reversals relate to Unclaimed Accruals in an Aggregate property for accounting purposes. Under lease accounting, the lessor may reflect the cost of the

DTL Category or GL account, the Constituent Entity shall apply its methodology for determining tangible asset that is subject to the lease as a receivable in the financial accounts, rather than as

which DTL reversals related to pre-Transition Year DTLs and treat the Unclaimed Accruals as a tangible asset. For tax purposes, however, the lessor may recover the cost of the leased property

arising chronologically after the pre-Transition Year DTLs and before any DTLs that are subject to through depreciation, often accelerated depreciation. In such cases, the timing of the cost recovery

the DTL recapture rule. For example, if the Constituent Entity uses the FIFO method as the for the leased asset will be different for accounting and tax purposes and will often give rise to a

recapture methodology for the Aggregate DTL Category, the DTL reversals will be treated as deferred tax liability. That deferred tax liability is with respect to cost recovery allowances on the

reversals of Unclaimed Accruals only after all of the pre-Transition Year DTLs have been reversed. leased property and is within the scope of Article 4.4.5(a) if the leased property is a tangible asset.

Unclaimed Accrual Election

61. The following paragraphs are inserted after paragraph 112 of the Commentary to Article 4.4.7:

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QDMTT Considerations

62. The following paragraphs are inserted after paragraph 118.53 of the Commentary to the definition of Qualified Domestic Minimum Top-up Tax:

118.53.1 A QDMTT generally must provide for Aggregate DTL Categories consistent with

the principles and exclusions set out in the Commentary to Article 4.4.4 of the GloBE Rules.

Application of those principles and exclusions to the DTLs that are tracked under a local accounting

standard may result in categories that do not align with the Aggregate DTL Categories that would

be used under the accounting standard required under Article 3.1.2 or Article 3.1.3. Accordingly,

the Constituent Entity may have different Aggregate DTL Categories where a QDMTT (whether or

not it meets the requirements of a QDMTT Safe Harbour) permits or requires QDMTT

computations based on local financial accounting standards.

118.53.2 A QDMTT must provide for an Unclaimed Accrual election consistently with the

principles set out in the Commentary to Article 4.4.7 of the GloBE Rules (including the Unclaimed

Accrual Five-Year Election).

1.4¶Examples

63. The following examples will be included in the GloBE Model Rules Examples.

Example 4.4.4-1 – DTL tracking approach definition

1. A Co is a Constituent Entity located in Country A. A Co prepares its reporting package accounts using IFRS and recognises deferred tax liabilities in relation to trade receivables. IFRS recognition criteria for revenues from transactions with customers are different from the corporate tax rules applicable in Country A and the tax basis of trade receivables is different from the corresponding IFRS carrying value. The trade receivables Balance Sheet account in the relevant chart of accounts is composed of a number of General Ledger accounts (e.g. receivables from the sale of product 1, product 2, service A, service B, etc.), and each General Ledger account contains a certain number of sub-accounts (e.g. individual accounts related to each customer), as represented in the below table.

or not there is a DTL accrual or reversal in each GL account at the end of the Fiscal Year, it may apply the DTL recapture rule on the basis of the GL account tracking. 3. If A Co measures and tracks DTLs based on the Trade Receivables Balance Sheet account, which contains the four GL accounts, it may apply the DTL recapture rule to that Aggregate DTL Category.

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QDMTT Considerations Example 4.4.4-2 – FIFO methodology

62. The following paragraphs are inserted after paragraph 118.53 of the Commentary to the definition 1. A Co has an Aggregate DTL Category in relation to trade receivables that is consistent with the

of Qualified Domestic Minimum Top-up Tax: chart of accounts used for the Consolidated Financial Statements. A Co is able to determine and prove

that each GL account included in the Aggregate DTL Category has a similar reversal trend and therefore

118.53.1 A QDMTT generally must provide for Aggregate DTL Categories consistent with

is eligible to apply the FIFO methodology. the principles and exclusions set out in the Commentary to Article 4.4.4 of the GloBE Rules.

Application of those principles and exclusions to the DTLs that are tracked under a local accounting 2. The table below shows for each Fiscal Year the net DTL increases (i.e. accrual) and net DTL

standard may result in categories that do not align with the Aggregate DTL Categories that would decreases (i.e. reversal) determined for the Aggregate DTL Category. be used under the accounting standard required under Article 3.1.2 or Article 3.1.3. Accordingly,

the Constituent Entity may have different Aggregate DTL Categories where a QDMTT (whether or Net DTL movement per Fiscal Year

DTL category Trade receivables 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

not it meets the requirements of a QDMTT Safe Harbour) permits or requires QDMTT

GL account 1 on product 1 10 10 10 10 10 10 10 10 10 10 10 (110) computations based on local financial accounting standards. GL account 2 on product 2 100 (100)

GL account 3 on service A 100 100 -100 (100) 118.53.2 A QDMTT must provide for an Unclaimed Accrual election consistently with the GL account 4 on service B 10 20 10 - 10 10 20 - 10 10 (100)

GL account 5 on service C 100 (10) (10) (10) (10) (10) (10) (10) (10) (10) (10)

principles set out in the Commentary to Article 4.4.7 of the GloBE Rules (including the Unclaimed Net DTL movement 10 120 130 120 10 120 10 (80) - (90) 10 (320) (10) (10) (10) (10)

Accrual Five-Year Election).

3. The table below shows the application of the FIFO methodology to the above identified DTL

1.4¶Examples

accruals and reversals for the Aggregate DTL Category.

63. The following examples will be included in the GloBE Model Rules Examples.

DTL category - FIFO methodology 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Net DTL movement 10 120 130 120 10 120 10 (80) - (90) 10 (320) (10) (10) (10) (10)

Example 4.4.4-1 (A) Outstanding balance 10 130 260 380 390 510 520 440 440 350 360 40 30 20 10 -

– DTL tracking approach definition

(B) Maximum justifiable amount 500 390 260 140 130 20 10 10 10 10 -

(A-B) Unjustified Balance 10 130 180 300 220 340 30 20 10 - - 1. A Co is a Constituent Entity located in Country A. A Co prepares its reporting package accounts Unjustified balance (yearly movement) 10 120 50 120 (80) 120 (310) (10) (10) (10) using IFRS and recognises deferred tax liabilities in relation to trade receivables. IFRS recognition criteria

for revenues from transactions with customers are different from the corporate tax rules applicable in

4. The DTL recapture test determines a DTL Recaptured amount of 10, to be excluded from the Country A and the tax basis of trade receivables is different from the corresponding IFRS carrying value.

Adjusted Covered Taxes in Year 1 (the Tested Fiscal Year) for the purposes of computing Year 6 Additional The trade receivables Balance Sheet account in the relevant chart of accounts is composed of a number

Current Top-up Tax. For the Tested Fiscal Year (Year 1), the Maximum Justifiable amount is equal to 500, of General Ledger accounts (e.g. receivables from the sale of product 1, product 2, service A, service B,

while the Outstanding Balance (equal to the sum of all the net DTL accruals over the Testing Period) is etc.), and each General Ledger account contains a certain number of sub-accounts (e.g. individual

equal to 510. The excess of the Outstanding Balance over the Maximum Justifiable amount represents the accounts related to each customer), as represented in the below table.

Unjustified Balance for the current Year (i.e. Year 6). Because the Unjustified Balance for the previous

Fiscal Year is zero, an increase in the Unjustified Balance is determined for the current year. A DTL

or not there is a DTL accrual or reversal in each GL account at the end of the Fiscal Year, it may apply the DTL recapture rule on the basis of the GL account tracking.

3. If A Co measures and tracks DTLs based on the Trade Receivables Balance Sheet account, which contains the four GL accounts, it may apply the DTL recapture rule to that Aggregate DTL Category.

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Net DTL movement per Fiscal Year

DTL category Trade receivables 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

GL account 1 on product 1 10 10 10 10 10 10 10 10 10 10 10 (110) GL account 2 on product 2 100 (100) GL account 3 on service A 200 (200) GL account 4 on service B 100 (10) (10) (10) (10) (10) (10) (10) (10) (10) (10) GL account 5 on service C 50 (10) 10 (10) (10) (10) 20 (10) (10) (10) (10) Net DTL movement 10 210 - 200 - (50) (10) (190) (10) (10) (10) (100) (10) (10) (10) (10)

3. The table below shows the application of the LIFO methodology to the above identified DTL accruals and reversals for the Aggregate DTL Category.

LIFO methodology - Aggregate DTL category

Adjusted Covered Taxes in Year 1 (the Tested Fiscal Year) for the purposes of computing Year 6 Additional Current Top-up Tax. For the Tested Fiscal Year (Year 1), the Maximum Justifiable amount is equal to 360, while the Outstanding Balance (equal to the sum of all the net DTL accruals and reversals computed starting from the Transition Year till the end of the Testing Period) is equal to 370. The excess of the Outstanding Balance over the Maximum Justifiable amount represents the Unjustified Balance for the current Year (i.e. Year 6). Considered that the Unjustified Balance for the previous Fiscal Year is zero, an increase in the Unjustified Balance is determined for the current year. A DTL Recapture of 210 is also determined for Year 7. An adjustment pursuant to Article 4.4.2(b) is required for Year 8 throughout Year 16, for an amount corresponding to the yearly decrease in the Unjustified Balance for that Year.

Example 4.4.4-4 – Pre-Transition Year DTL allocated under FIFO methodology

1. The fact patterns are the same as Example 4.4.4 – 2, except that A Co has pre-Transition Year DTLs for the Aggregate DTL Category equal to 150. For the purposes of the DTL recapture rule, the reversals of pre-Transition Year DTL shall not be computed in the Outstanding Balance otherwise they would be treated as reversals of DTLs that accrued starting from the Transition Year. This principle is reflected in the table below by excluding the reversals attributable to pre-Transition Year DTLs from the “net DTL movement” of the aggregate DTL category as relevant for the determination of the Outstanding Balance, for the DTL recapture mechanism. 2. A Co uses a FIFO recapture methodology for the Aggregate DTL Category. The reversal of pre- Transition Year DTLs must be determined in accordance with the FIFO approach. Under the FIFO approach, the first net DTL decreases in the Aggregate DTL Category are treated as reversals of pre- Transition Year DTLs and as such excluded from the computation of the net DTL movement of the relevant Fiscal Year. 3. The below table shows that the first net DTL decreases occur in Year 7, Year 8 and Year 10. Such net decreases are treated as reversals of pre-Transition Year DTLs and as such are excluded from the computation of the net DTL movement of such Fiscal Years. The 150 of pre-Transition Year DTLs are

Aggregate DTL category - FIFO methodology 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Net DTL movement 10 100 130 70 - 120 (20) (80) - (90) 10 (360) (10) (10) (10) (10) Pre-Transition Year DTL 150 Reversals allocated to pre-Transition Year DTL (FIFO) - - - - - - (20) (80) - (50) - - - - - - Net DTL movement (after allocation to

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Net DTL movement per Fiscal Year

treated as reversing in Year 7, for an amount equal to 20, in Year 8, for an amount equal to 80 and in Year

DTL category Trade receivables 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

GL account 1 on product 1 10 10 10 10 10 10 10 10 10 10 10 (110) 10, for the residual amount of 50. Accordingly, the net DTL movement for Year 7 and 8 is re-determined

GL account 2 on product 2 100 (100)

to zero, while the net DTL movement for Year 10 is re-determined from -90 to -40.

GL account 3 on service A 200 (200) GL account 4 on service B 100 (10) (10) (10) (10) (10) (10) (10) (10) (10) (10) GL account 5 on service C 50 (10) 10 (10) (10) (10) 20 (10) (10) (10) (10)

Example 4.4.4-5 – Pre-Transition Year DTLs allocated under LIFO methodology

Net DTL movement 10 210 - 200 - (50) (10) (190) (10) (10) (10) (100) (10) (10) (10) (10)

3. The table below shows the application of the LIFO methodology to the above identified DTL 1. The fact patterns are the same as Example 4.4.4 - 3 above, except that A Co has pre-Transition accruals and reversals for the Aggregate DTL Category. Year DTLs for the Aggregate DTL Category equal to 150. For the purposes of the DTL recapture rule, the reversals of pre-Transition Year DTL shall not be computed in the Outstanding Balance otherwise they

LIFO methodology - Aggregate DTL category

Fiscal Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 would be treated as reversals of DTLs that accrued starting from the Transition Year. This principle is

Transition Year DTLs must be determined in accordance with the LIFO approach. Under the LIFO Adjusted Covered Taxes in Year 1 (the Tested Fiscal Year) for the purposes of computing Year 6 Additional

approach, the net DTL decreases in the Aggregate DTL Category are first allocated to DTLs accrued Current Top-up Tax. For the Tested Fiscal Year (Year 1), the Maximum Justifiable amount is equal to 360,

starting from the Transition Year and as such computed in the Outstanding Balance. Once the Outstanding while the Outstanding Balance (equal to the sum of all the net DTL accruals and reversals computed

Balance is negative (i.e. the overall reversals exceed the overall accruals), the net DTL decreases that starting from the Transition Year till the end of the Testing Period) is equal to 370. The excess of the

causes the Outstanding balance to become negative are treated as reversals of pre-Transition Year DTLs. Outstanding Balance over the Maximum Justifiable amount represents the Unjustified Balance for the

In the Fiscal Year in which the Outstanding Balance is negative and there is a net decrease in the net DTL current Year (i.e. Year 6). Considered that the Unjustified Balance for the previous Fiscal Year is zero, an

movement, the net DTL decrease is treated as reversal of pre-Transition Year DTLs, but only to the extent increase in the Unjustified Balance is determined for the current year. A DTL Recapture of 210 is also

that such decreases reduces the Outstanding Balance below zero. determined for Year 7. An adjustment pursuant to Article 4.4.2(b) is required for Year 8 throughout Year

16, for an amount corresponding to the yearly decrease in the Unjustified Balance for that Year. 3. The below table shows that the Outstanding Balance is negative in Year 12 till Year 16. In Year

12, there is a net DTL decrease of 140 which causes the Outstanding Balance turning to negative to an

Example 4.4.4-4 amount of -110. The amount of 110, out of 140, represents the reversals which are overall in excess in

– Pre-Transition Year DTL allocated under FIFO methodology

respect to the overall accruals (computed in the Outstanding Balance, i.e. starting from the Transition Year) 1. The fact patterns are the same as Example 4.4.4 – 2, except that A Co has pre-Transition Year and as such shall be treated as reversals of pre-Transition Year DTLs. In Year 13, the Outstanding Balance

DTLs for the Aggregate DTL Category equal to 150. For the purposes of the DTL recapture rule, the is still negative and the net decreases is equal to -10. This net DTL decrease shall be treated as reversal

reversals of pre-Transition Year DTL shall not be computed in the Outstanding Balance otherwise they of pre-Transition Year DTLs. Same thing occurs for Year 14, Year 15 and Year 16 where the relevant net

would be treated as reversals of DTLs that accrued starting from the Transition Year. This principle is DTL decreases is treated as reversal of pre-Transition Year DTL.

reflected in the table below by excluding the reversals attributable to pre-Transition Year DTLs from the

4. Based on the above, the net DTL movement is re-determined without taking into account the net “net DTL movement” of the aggregate DTL category as relevant for the determination of the Outstanding

decreases which are allocated to pre-Transition Year DTLs. In particular, for Year 12 to 16, the net DTL Balance, for the DTL recapture mechanism.

movement is re-determined to zero. 2. A Co uses a FIFO recapture methodology for the Aggregate DTL Category. The reversal of pre-

Aggregated DTL category - LIFO methodology

Fiscal Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Transition Year DTLs must be determined in accordance with the FIFO approach. Under the FIFO

Net DTL movement 10 190 - 150 (10) (50) (40) (190) (10) (10) (10) (140) (10) (10) (10) (10)

approach, the first net DTL decreases in the Aggregate DTL Category are treated as reversals of pre- Pre-Transition Year DTLs 150

Outstanding Balance 10 200 200 350 340 290 250 60 50 40 30 (110) (120) (130) (140) (150)

Transition Year DTLs and as such excluded from the computation of the net DTL movement of the relevant

Reversals allocated to pre-Transition

Fiscal Year. Year DTLs (LIFO) (110) (10) (10) (10) (10)

Net DTL movement after allocation to pre-Transition

3. The below table shows that the first net DTL decreases occur in Year 7, Year 8 and Year 10. Such Year DTLs 10 190 - 150 (10) (50) (40) (190) (10) (10) (10) (30) - - - -

(A) Outstanding balance (after

net decreases are treated as reversals of pre-Transition Year DTLs and as such are excluded from the allocation of pre-Transition Year DTLs) 10 200 200 350 340 290 250 60 50 40 30 - - - - -

computation of the net DTL movement of such Fiscal Years. The 150 of pre-Transition Year DTLs are (B) Maximum justifiable amount 280 50 - - - - - - - - -

(A-B) Unjustified Balance 10 200 60 50 40 30 - - - - - Aggregate DTL category - FIFO methodology 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Unjustified balance (yearly movement) 10 190 (140) (10) (10) (10) (30) - - - -

Net DTL movement 10 100 130 70 - 120 (20) (80) - (90) 10 (360) (10) (10) (10) (10)

Pre-Transition Year DTL 150 Example 4.4.7-1 – Unclaimed Accrual Five-Year election

Reversals allocated to pre-Transition Year DTL (FIFO) - - - - - - (20) (80) - (50) - - - - - -

1. A Co has DTLs on related party receivables that corresponds to a sub-BS account according to

Net DTL movement (after allocation to

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Unclaimed Accrual election for the Aggregate DTL Category in the Transition Year. Under this election, each net DTL accrual and related reversal as determined in relation to the entire sub-BS account is excluded from the computation of the Adjusted Covered Taxes. 2. The pre-Transition Year DTLs determined as of the beginning of the Transition Year for the related party receivables is equal to 100. The first net decreases in the DTL category shall be treated as reversal of pre-Transition Year DTL and shall be accordingly included in the computation of the Adjusted Covered Taxes. Once the pre-Transition Year DTLs are fully reversed, the subsequent reversals shall be treated as reversal of the unclaimed DTL accruals and as such shall be excluded from the computation of the Adjusted Covered Taxes.

Example 4.4.7-2 – Annual Unclaimed Accrual election

1. A Co has a DTL category related to service contracts (corresponding to an Aggregate DTL Category, i.e. an aggregation of GL accounts) that vary in length from 5 to 10 years and as such is not expected to entirely reverse entirely within five years. 2. A Co decides to make an election under Article 4.4.7 in Year 1 and does not include the DTL accrual of 100 in its computation of Adjusted Covered Taxes for Year 1. A Co recognises another DTL accrual in Year 2 for such DTL category, but it is claimed in the computation of the Adjusted Covered Taxes for Year 2 (i.e. no election under Article 4.4.7). Although A Co did not claim the Year 1 accrual in its Adjusted Covered Taxes computation, it will have to determine when that accrual reverses so that it can claim the taxes in its Adjusted Covered Taxes upon reversal of the deferred tax liability based on the DTL recapture methodology used by A Co for the relevant DTL category. In particular, for the purposes of the correct functioning of the Unclaimed Accrual election and of the DTL recapture methodology used for the relevant DTL category, A Co will have to exclude the unclaimed DTL accrual in Year 1 for the purposes of the computation of the Outstanding Balance. On the other hand, the reversal shall be included in the determination of the Outstanding Balance in order to determine the timing of the relevant reversals and corresponding adjustment pursuant to Article 4.4.2(a).

Example 4.4.7-3 – pre-Transition Year DTLs under an Unclaimed Accrual Five- Year Election

1. A Co makes an Unclaimed Accrual Five-Year Election in the Transition Year in respect to an Aggregate DTL Category. For the purposes of the DTL recapture rule, A Co has determined the pre- Transition Year DTLs for such DTL category. The reversals of pre-Transition Year DTLs must be taken into account in the computation of the Adjusted Covered Taxes and as such shall not be treated as reversal of unclaimed accruals. The reversal of pre-Transition Year DTLs are determined in accordance with a FIFO approach. In other words, the first net DTL decreases shall be treated as reversal of pre-Transition Year DTLs. 2. The Table below shows that the first net DTL decreases occur in Year 7, Year 8, Year 10 and so forth. Under the FIFO approach the net DTL movements to be excluded for the purposes of the Unclaimed Accrual election shall not take into account the net DTL decrease of 20 in Year 7, of 80 in Year 8 and of 50 in Year 10.

Aggregated DTL category 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Net DTL movement 10 100 130 70 - 120 (20) (80) - (90) 10 (360) (10) (10) (10) (10) Pre-Transition Year DTL 150 Reversals allocated to pre-Transition Year DTL (FIFO) - - - - - - (20) (80) - (50) - - - - - - Net DTL movement (after allocation to 10 100 130 - 12070 - - - (40) 10 (360) (10)(10) (10) (10) Pre-Transition Year DTL) to be excluded from Adjusted Covered Taxes under the Unclaimed Accrual election

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Unclaimed Accrual election for the Aggregate DTL Category in the Transition Year. Under this election, each net DTL accrual and related reversal as determined in relation to the entire sub-BS account is excluded from the computation of the Adjusted Covered Taxes.

2. The pre-Transition Year DTLs determined as of the beginning of the Transition Year for the related party receivables is equal to 100. The first net decreases in the DTL category shall be treated as reversal Divergences between GloBE and

2.

of pre-Transition Year DTL and shall be accordingly included in the computation of the Adjusted Covered Taxes. Once the pre-Transition Year DTLs are fully reversed, the subsequent reversals shall be treated as reversal of the unclaimed DTL accruals and as such shall be excluded from the computation of the

accounting carrying values

Adjusted Covered Taxes.

Example 4.4.7-2 – Annual Unclaimed Accrual election

1. A Co has a DTL category related to service contracts (corresponding to an Aggregate DTL

2.1¶Divergences between GloBE and accounting carrying values

Category, i.e. an aggregation of GL accounts) that vary in length from 5 to 10 years and as such is not expected to entirely reverse entirely within five years.

2.1.1¶Introduction

2. A Co decides to make an election under Article 4.4.7 in Year 1 and does not include the DTL accrual of 100 in its computation of Adjusted Covered Taxes for Year 1. A Co recognises another DTL 1. This note provides guidance on how MNE Groups should determine Adjusted Covered Taxes of accrual in Year 2 for such DTL category, but it is claimed in the computation of the Adjusted Covered Taxes Constituent Entities in cases where the accounting and GloBE carrying values and the deferred tax for Year 2 (i.e. no election under Article 4.4.7). Although A Co did not claim the Year 1 accrual in its assets/liabilities determined therefrom diverge. Adjusted Covered Taxes computation, it will have to determine when that accrual reverses so that it can

2. It also provides guidance in relation to the GloBE treatment of an intragroup transaction accounted claim the taxes in its Adjusted Covered Taxes upon reversal of the deferred tax liability based on the DTL

for at cost by the acquiring Constituent Entity, as foreshadowed in Chapter 2.1 of the Tax Challenges recapture methodology used by A Co for the relevant DTL category. In particular, for the purposes of the

Arising from the Digitalisation of the Economy – Administrative Guidance on the Global Anti-Base Erosion correct functioning of the Unclaimed Accrual election and of the DTL recapture methodology used for the

Model Rules (Pillar Two), released on 2 February 2023 (the February 2023 AG). relevant DTL category, A Co will have to exclude the unclaimed DTL accrual in Year 1 for the purposes of the computation of the Outstanding Balance. On the other hand, the reversal shall be included in the 3. Divergences between the carrying value of assets and liabilities and the underlying deferred tax determination of the Outstanding Balance in order to determine the timing of the relevant reversals and positions for GloBE and accounting purposes may occur pursuant to a number of other provisions under corresponding adjustment pursuant to Article 4.4.2(a). the GloBE Rules. Where there is a divergence between the GloBE and accounting carrying value of the

assets and liabilities of a Constituent Entity it is important that the relevant elements of the Total Deferred

Example 4.4.7-3 Tax Adjustment Amount of the Constituent Entity be determined and subsequently adjusted on the basis

– pre-Transition Year DTLs under an Unclaimed Accrual Five-

of the carrying value relevant to the application of the GloBE Rules. The Inclusive Framework will further

Year Election

consider potential simplification measures to mitigate the compliance burdens associated with divergences 1. A Co makes an Unclaimed Accrual Five-Year Election in the Transition Year in respect to an between GloBE and accounting carrying values. Aggregate DTL Category. For the purposes of the DTL recapture rule, A Co has determined the pre- Transition Year DTLs for such DTL category. The reversals of pre-Transition Year DTLs must be taken 2.1.2. Issues to be considered into account in the computation of the Adjusted Covered Taxes and as such shall not be treated as reversal of unclaimed accruals. The reversal of pre-Transition Year DTLs are determined in accordance with a FIFO Divergences between GloBE and accounting carrying values approach. In other words, the first net DTL decreases shall be treated as reversal of pre-Transition Year DTLs. 4. The GloBE Rules generally rely on the amounts reflected in the financial accounts of a Constituent

Entity used in the preparation of Consolidated Financial Statements of the Ultimate Parent Entity as the 2. The Table below shows that the first net DTL decreases occur in Year 7, Year 8, Year 10 and so

starting point for determining the GloBE Income or Loss (under Article 3.1.2 or Article 3.1.3) and Adjusted forth. Under the FIFO approach the net DTL movements to be excluded for the purposes of the Unclaimed

Covered Taxes (Article 4.1) of each Constituent Entity. As discussed in the Commentary to Article 4.4.1, Accrual election shall not take into account the net DTL decrease of 20 in Year 7, of 80 in Year 8 and of

“the starting point for the Total Deferred Tax Adjustment Amount is the amount of deferred tax expense 50 in Year 10.

accrued in the financial accounts of a Constituent Entity". Further, paragraph 71.1 of the Commentary to

Aggregated DTL category 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Article 4.4.1 notes that “references to the deferred tax expense accrued in the financial accounts of a

Net DTL movement 10 100 130 70 - 120 (20) (80) - (90) 10 (360) (10) (10) (10) (10) Constituent Entity must be interpreted as the deferred tax expense accrued in the Financial Accounting

Pre-Transition Year DTL 150

Net Income or Loss for that Constituent Entity in line with Article 4.1.1 and the principles of Article 3.1.2”.

Reversals allocated to pre-Transition

Year DTL (FIFO) - - - - - - (20) (80) - (50) - - - - - - The exception to this is in circumstances where the income and expense attributable to a Constituent Entity

Net DTL movement (after allocation to 10 100 130 - 12070 - - - (40) 10 (360) (10)(10) (10) (10)

are reflected only in the Consolidated Financial Accounts, as such Article 3.1.2 and Article 4.4 allows for

Pre-Transition Year DTL) to be

excluded from Adjusted Covered Taxes income and expenses, and deferred tax expenses in relation to those items, to be included in the

under the Unclaimed Accrual election calculation of the GloBE Income or Loss and Total Deferred Tax Adjustment Amount for that Constituent

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Entity, where they are directly traced to the Constituent Entity (see paragraph 71.1 of the Commentary to Article 4.4.1). 5. However, there are cases where the GloBE Rules require a Constituent Entity to determine its GloBE Income or Loss and Adjusted Covered Taxes by reference to a carrying value that may be different from the carrying value reflected in the financial accounts otherwise used for GloBE purposes. The following Articles are affected:

• Article 3.2.1(i), which adjusts a Constituent Entity’s Financial Accounting Net Income or Loss

for accrued pension expense;

• Article 3.2.2, which provides an election to substitute the amount of stock-based compensation

allowed as a deduction in the computation of a Constituent Entity’s taxable income for the

amount of stock-based compensation expense reported in the financial accounts;

• Article 3.2.3, which requires MNE Groups to apply the Arm’s Length Principle to certain intra-

group transactions in order to protect the integrity of jurisdictional blending;

• Article 3.2.5, which provides an election to determine gains and losses using the realisation

principle in lieu of fair value accounting;

• Article 6.2.1(c), which provides that a target in the acquisition year and each succeeding year

shall determine its GloBE Income or Loss and Adjusted Covered Taxes using its historical

carrying value of the assets and liabilities;

• Article 6.2.2, which provides that certain acquisitions or disposals of a Controlling Interest in a

Constituent Entity shall be treated as an acquisition or disposal of the assets and liabilities;

• Article 6.3.1, in circumstances where Article 3.2.3 applies in respect of asset transfers not

recorded at arm’s length and requires a transaction between Constituent Entities located in

different jurisdictions that is not recorded in the same amount in the financial accounts of both

Constituent Entities or that is not consistent with the Arm’s Length Principle to be adjusted so

as to be in the same amount and consistent with the Arm’s Length Principle;

• Article 6.3.2, which requires an acquiring Constituent Entity in a GloBE Reorganisation to

determine its GloBE Income or Loss after the acquisition using the disposing Entity’s carrying

values of the acquired assets and liabilities upon disposition;

• Article 6.3.3, which requires an acquiring Constituent Entity in a GloBE Reorganisation wherein

a disposing Constituent Entity recognises Non-qualifying Gain or Loss to determine its GloBE

Income or Loss after the acquisition using the disposing Entity’s carrying value of the acquired

assets and liabilities upon disposition adjusted consistent with local tax rules to account for the

Non-qualifying Gain or Loss; and

• Article 6.3.4, when an MNE Group makes an election to align the outcomes under the GloBE

Rules with those that apply under local tax law and the Constituent Entity recognises gain or

loss and adjusts the carrying value of its assets and liabilities for purposes of the GloBE Rules. 6. Article 4.4.1(a) excludes from a Constituent Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year any amount of deferred tax expense with respect to items excluded from the computation of GloBE Income or Loss under Chapter 3. Article 3.2.11 requires adjustments to a Constituent Entity’s Financial Accounting Net Income or Loss where necessary to reflect the requirements of Chapters 6 and 7. 7. If the GloBE Income or Loss of a Constituent Entity is calculated based on an asset or liability’s carrying value that differs from that used to determine the deferred tax expense accrued in the financial accounts of a Constituent Entity, then any deferred tax expense or benefit accrued in connection with a deferred tax asset or deferred tax liability related to the asset or liability is no longer appropriate for computing the Total Deferred Tax Adjustment Amount under Article 4.4 to determine the Adjusted Covered Taxes of the Constituent Entity. This is because the timing differences in respect of the asset or liability

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Entity, where they are directly traced to the Constituent Entity (see paragraph 71.1 of the Commentary to under the GloBE Rules will not correspond to the timing differences reflected in the financial accounting

Article 4.4.1). deferred tax assets and liabilities.

5. However, there are cases where the GloBE Rules require a Constituent Entity to determine its 8. To ensure the correct determination of the Total Deferred Tax Adjustment Amount under the

GloBE Income or Loss and Adjusted Covered Taxes by reference to a carrying value that may be different GloBE Rules, any deferred tax asset or liability must be computed based on the GloBE carrying value and

from the carrying value reflected in the financial accounts otherwise used for GloBE purposes. The then adjusted in accordance with the relevant accounting standard and the deferred tax expense or benefit

following Articles are affected: in respect of such deferred tax asset or liability and its subsequent adjustments must be used to compute

the Total Deferred Tax Adjustment Amount for purposes of determining the Adjusted Covered Taxes of • Article 3.2.1(i), which adjusts a Constituent Entity’s Financial Accounting Net Income or Loss

the Constituent Entity. In circumstances where the GloBE carrying value of an asset or liability is adjusted for accrued pension expense;

to be aligned with the tax carrying value (tax basis) of the asset or liability, the result will be that the related • Article 3.2.2, which provides an election to substitute the amount of stock-based compensation

deferred tax expense recorded for accounting purposes will be disregarded for GloBE purposes. This allowed as a deduction in the computation of a Constituent Entity’s taxable income for the

includes for the purposes of Article 4.4.4 and is intended to apply broadly to the GloBE Rules, not just to amount of stock-based compensation expense reported in the financial accounts;

the Articles outlined in paragraph 5 above. This guidance contains certain instances that reference the • Article 3.2.3, which requires MNE Groups to apply the Arm’s Length Principle to certain intra- excluding or disregarding of deferred tax assets or deferred tax liabilities in the financial accounts of a

group transactions in order to protect the integrity of jurisdictional blending; Constituent Entity. This is predicated on the assumption that many jurisdictions have a tax carrying value

• Article 3.2.5, which provides an election to determine gains and losses using the realisation (tax basis) that will equal the GloBE carrying value of certain assets and liabilities. However, this will not

principle in lieu of fair value accounting; necessarily be the case in all jurisdictions and all circumstances. In all cases, deferred tax assets or

liabilities must be computed based on the GloBE carrying value and then adjusted in accordance with the • Article 6.2.1(c), which provides that a target in the acquisition year and each succeeding year

relevant financial accounting standard. shall determine its GloBE Income or Loss and Adjusted Covered Taxes using its historical

carrying value of the assets and liabilities; 9. It may be the case that the GloBE carrying value of an asset or liability does not match the local

• Article 6.2.2, which provides that certain acquisitions or disposals of a Controlling Interest in a tax carrying value (tax basis under the income tax laws of the relevant jurisdiction). Where this is the case,

Constituent Entity shall be treated as an acquisition or disposal of the assets and liabilities; even if there was no deferred tax asset or liability recorded (for instance, because the accounting carrying

value and tax basis were equal), Article 4.4. must take into account any deferred tax asset or liability • Article 6.3.1, in circumstances where Article 3.2.3 applies in respect of asset transfers not

calculated in accordance with the relevant accounting standard, but based on the GloBE carrying value, recorded at arm’s length and requires a transaction between Constituent Entities located in

rather than the carrying value used to determine the deferred tax expense accrued in the Constituent different jurisdictions that is not recorded in the same amount in the financial accounts of both

Entity’s financial accounts (i.e. the Constituent Entity’s financial accounts used in preparing Consolidated Constituent Entities or that is not consistent with the Arm’s Length Principle to be adjusted so

Financial Statements of the Ultimate Parent Entity). However, where the initial recognition exception as to be in the same amount and consistent with the Arm’s Length Principle;

applies under the relevant accounting standard and would continue to be applicable in the context of the • Article 6.3.2, which requires an acquiring Constituent Entity in a GloBE Reorganisation to

required adjustments for GloBE purposes, the deferred tax asset or liability would not be included in determine its GloBE Income or Loss after the acquisition using the disposing Entity’s carrying

calculating the Total Deferred Tax Adjustment amount even though the GloBE carrying value differs from values of the acquired assets and liabilities upon disposition;

the tax basis. • Article 6.3.3, which requires an acquiring Constituent Entity in a GloBE Reorganisation wherein

10. Similarly, in circumstances where items of income, gain, expense or loss with respect to a specific a disposing Constituent Entity recognises Non-qualifying Gain or Loss to determine its GloBE

asset or liability are excluded from the GloBE calculations, such as amortization of an asset arising as a Income or Loss after the acquisition using the disposing Entity’s carrying value of the acquired

result of purchase accounting, any deferred tax asset or deferred tax liability in the financial accounts assets and liabilities upon disposition adjusted consistent with local tax rules to account for the

related to that specific asset or liability must be disregarded for the purposes of calculating a Constituent Non-qualifying Gain or Loss; and

Entity’s Total Deferred Tax Adjustment Amount. • Article 6.3.4, when an MNE Group makes an election to align the outcomes under the GloBE

Rules with those that apply under local tax law and the Constituent Entity recognises gain or

Clarifications in relation to the effect of divergences between GloBE and accounting

loss and adjusts the carrying value of its assets and liabilities for purposes of the GloBE Rules.

carrying values and the Transition Rules.

6. Article 4.4.1(a) excludes from a Constituent Entity’s Total Deferred Tax Adjustment Amount for the

11. Given the impact of the Articles in Chapter 6 listed above and Article 3.2.3, which may result in a Fiscal Year any amount of deferred tax expense with respect to items excluded from the computation of

divergence between the GloBE carrying value and the accounting carrying value, it is essential to clarify GloBE Income or Loss under Chapter 3. Article 3.2.11 requires adjustments to a Constituent Entity’s

how to determine the GloBE carrying value, and associated deferred tax assets and liabilities, in the case Financial Accounting Net Income or Loss where necessary to reflect the requirements of Chapters 6 and 7.

of pre-GloBE transactions. 7. If the GloBE Income or Loss of a Constituent Entity is calculated based on an asset or liability’s

12. Chapters 1 through 8 of the GloBE Rules have been generally drafted based on the assumption carrying value that differs from that used to determine the deferred tax expense accrued in the financial

that the relevant items arise in a Fiscal Year in which the Constituent Entity is subject to the GloBE Rules, accounts of a Constituent Entity, then any deferred tax expense or benefit accrued in connection with a

with Chapter 9 providing the specific rules on how the GloBE Rules apply to transactions and tax attributes deferred tax asset or deferred tax liability related to the asset or liability is no longer appropriate for

that took place or arose before the GloBE Rules came into effect. Specifically, Article 9.1.1 outlines the computing the Total Deferred Tax Adjustment Amount under Article 4.4 to determine the Adjusted Covered

deferred tax accounting attributes of a Constituent Entity relevant to the GloBE Rules in its Transition Year, Taxes of the Constituent Entity. This is because the timing differences in respect of the asset or liability

subject to the modifications specified in Article 9.1.2 and 9.1.3. These attributes must be utilised in

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calculating a Constituent Entity’s Covered Taxes and the Effective Tax Rate (ETR) in a jurisdiction during the Transition Year and subsequent years. This transition rule avoids requiring complex calculations as if the Constituent Entity had been subject to GloBE Rules in prior years. 13. The exception to Article 9.1.1 is Article 6.2.1(c). Paragraph 51 of the Commentary to Article 6.2.1(c) makes the position clear in relation to direct and indirect disposals of Ownership Interests resulting in an Entity either becoming or ceasing to be a Constituent Entity. That Commentary specifies that “push-down” accounting adjustments (i.e. purchase price accounting adjustments) are excluded for the purposes of determining the carrying value of an asset or a liability for GloBE purposes, even where the transaction occurs prior to the GloBE Rules coming into effect. Where the financial accounting standard used by the UPE in preparing its Consolidated Financial Statements permits the UPE to “push down” adjustments to the carrying value of assets and liabilities that were attributable to a purchase of a business to the separate accounts of the acquired Constituent Entity, the Constituent Entity can only use the carrying value reflected in its separate accounts if the acquisition occurred prior to 1 December 2021 and the MNE Group does not have sufficient records to determine its Financial Accounting Net Income or Loss with reasonable accuracy based on the unadjusted carrying values of the acquired assets and liabilities. No such concession applies to direct and indirect disposals of Ownership Interests resulting in an Entity either becoming or ceasing to be a Constituent Entity on or after 1 December 2021. 14. The purpose of the prohibition on using GloBE carrying values that include purchase price accounting adjustments in such circumstances is tied to the GloBE principle that purchase price accounting adjustments should not affect the Financial Accounting Net Income or Loss and Adjusted Covered Taxes calculations of a Constituent Entity. Given this, the Inclusive Framework considered it necessary to have comprehensive application in circumstances where MNE Groups have sufficient records to undertake the necessary adjustments. It follows that in circumstances where Article 6.2.1(c) applies to an asset or liability of a Constituent Entity, the GloBE carrying value is the relevant value for the purposes of determining the amount of any resulting deferred tax assets or deferred tax liabilities for the purposes of Article 9.1.1. 15. However, given the potential complexity for MNE Groups and Tax Administrations to apply Article 3.2.3, Article 6.2.2, and Article 6.3.1 through Article 6.3.4 in the case of a pre-GloBE transaction, these Articles should only apply to Constituent Entities in the Transition Year and subsequent Fiscal Years. To apply such articles to prior Fiscal Years would undermine the policy purpose of Article 9.1.1. The meaning of Transition Year in such circumstances also takes into account the modification of that term where an MNE Group is subject to the Transitional CbCR Safe Harbour in a jurisdiction. As such, where the Transitional CbCR Safe Harbour has been applied, the Articles mentioned above can only have effect in the first Fiscal Year in which the relevant Tested jurisdiction no longer qualifies for or applies the Transitional CbCR Safe Harbour. 16. It should also be noted that divergences may occur between the amounts of deferred tax assets and deferred tax liabilities relevant for GloBE purposes and those amounts reflected in the financial accounts as a result of Article 9.1.3. The relevant treatment of these situations has been covered in the Administrative Guidance “Asset carrying value and deferred taxes under 9.1.3 [AG22.04.T2]” released in February 2023 and reflected in the Commentary to Article 9.1.3. As such, this guidance does not apply to assets acquired in transactions within the scope of Article 9.1.3. However, to the extent that Article 9.1.3 applies to an asset that has been subject to Article 6.2.1(c), the relevant carrying value for purposes of determining deferred tax assets and deferred tax liabilities is the GloBE carrying value established by Article 6.2.1(c). 17. The Commentary to Article 9.1.3 (paragraph 10.8) has been amended to clarify that where the acquiring Constituent Entity is subject to the GloBE Rules, the initial recognition of the GloBE deferred tax asset due to taxes paid by the disposing entity on the transfer shall not reduce the Adjusted Covered Taxes of the acquiring Constituent Entity. It has also been amended to clarify that a deferred tax asset should be recognised for GloBE purposes based on the rules of Article 9.1.3 even in circumstances where no such

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calculating a Constituent Entity’s Covered Taxes and the Effective Tax Rate (ETR) in a jurisdiction during deferred tax asset would arise, or would arise in a different amount, under the relevant accounting

the Transition Year and subsequent years. This transition rule avoids requiring complex calculations as if standard. the Constituent Entity had been subject to GloBE Rules in prior years.

18. As a result of these clarifications, a deferred tax asset for GloBE purposes will arise regardless of 13. The exception to Article 9.1.1 is Article 6.2.1(c). Paragraph 51 of the Commentary to Article 6.2.1(c) whether a deferred tax asset is recognised in the financial accounts. However, because the limitation on makes the position clear in relation to direct and indirect disposals of Ownership Interests resulting in an the amount of the deferred tax asset determined under Article 9.1.3 looks to the local tax basis in the asset, Entity either becoming or ceasing to be a Constituent Entity. That Commentary specifies that “push-down” the Inclusive Framework will consider providing further guidance in relation to the limitation on the amount

accounting adjustments (i.e. purchase price accounting adjustments) are excluded for the purposes of of the deferred tax asset determined under Article 9.1.3 in situations where the jurisdiction of the acquiring determining the carrying value of an asset or a liability for GloBE purposes, even where the transaction Constituent Entity is located in a jurisdiction that does not have a corporate income tax system. The occurs prior to the GloBE Rules coming into effect. Where the financial accounting standard used by the Inclusive Framework will also consider providing further guidance in relation to the application of the UPE in preparing its Consolidated Financial Statements permits the UPE to “push down” adjustments to principles of Article 4.3 in the context of transfers subject to Article 9.1.3.

the carrying value of assets and liabilities that were attributable to a purchase of a business to the separate accounts of the acquired Constituent Entity, the Constituent Entity can only use the carrying value reflected Intragroup transactions accounted for at cost in its separate accounts if the acquisition occurred prior to 1 December 2021 and the MNE Group does not

19. Article 6.3.1 aims at aligning the GloBE carrying values of the acquiring Constituent Entity and the have sufficient records to determine its Financial Accounting Net Income or Loss with reasonable accuracy

amount realized on disposition that is taken into account in determining gain or loss for the disposing based on the unadjusted carrying values of the acquired assets and liabilities. No such concession applies

Constituent Entity, where the latter generally reflects the fair market value of the asset and liabilities at the to direct and indirect disposals of Ownership Interests resulting in an Entity either becoming or ceasing to

time of disposition. It is premised on the assumption that intra-group transactions (transactions between be a Constituent Entity on or after 1 December 2021.

Constituent Entities) are accounted for at fair value on a separate entity basis and then adjusted to 14. The purpose of the prohibition on using GloBE carrying values that include purchase price

eliminate intra-group income in the preparation of the Consolidated Financial Statements. However, some accounting adjustments in such circumstances is tied to the GloBE principle that purchase price accounting MNE Groups account for intra-group transactions at cost, meaning the disposing Constituent Entity does adjustments should not affect the Financial Accounting Net Income or Loss and Adjusted Covered Taxes

not recognise income, gain or loss on the transaction and the acquiring Constituent Entity records an asset calculations of a Constituent Entity. Given this, the Inclusive Framework considered it necessary to have in its financial accounts at the disposing Constituent Entity

’s cost. comprehensive application in circumstances where MNE Groups have sufficient records to undertake the

20. The computation of a Constituent Entity’s GloBE Income or Loss begins with its Financial necessary adjustments. It follows that in circumstances where Article 6.2.1(c) applies to an asset or liability

Accounting Net Income or Loss. Article 3.2.3 generally requires MNE Groups to apply the Arm’s Length of a Constituent Entity, the GloBE carrying value is the relevant value for the purposes of determining the

Principle to cross-border, intra-group transactions in order to protect the integrity of jurisdictional blending. amount of any resulting deferred tax assets or deferred tax liabilities for the purposes of Article 9.1.1.

Article 3.2.3 also applies to transactions between Joint Ventures (which are deemed to be Constituent 15. However, given the potential complexity for MNE Groups and Tax Administrations to apply Article

Entities for purposes of Chapters 3 through 7) and Constituent Entities. Without Article 3.2.3, MNE Groups 3.2.3, Article 6.2.2, and Article 6.3.1 through Article 6.3.4 in the case of a pre-GloBE transaction, these could shift income from one jurisdiction to another by simply recording transactions in the financial accounts Articles should only apply to Constituent Entities in the Transition Year and subsequent Fiscal Years. To

of Constituent Entities at prices that do not reflect fair value. Thus, for an MNE Group that records intraapply such articles to prior Fiscal Years would undermine the policy purpose of Article 9.1.1. The meaning group transactions at

cost, the arm’s length price is relevant for purposes of determining the GloBE income of Transition Year in such circumstances also takes into account the modification of that term where an

or loss of the disposing Constituent Entity, due to the application of Article 3.2.3. The February 2023 AG MNE Group is subject to the Transitional CbCR Safe Harbour in a jurisdiction. As such, where the confirmed this application of the GloBE Rules in such situations to the disposing Constituent Entity. Transitional CbCR Safe Harbour has been applied, the Articles mentioned above can only have effect in

21. Article 3.2.3 also applies to the acquiring Constituent Entity. Under the GloBE Rules the acquiring the first Fiscal Year in which the relevant Tested jurisdiction no longer qualifies for or applies the

Constituent Entity must compute its GloBE Income or Loss on the basis that the asset (or liability) was Transitional CbCR Safe Harbour.

acquired for its arm’s length price. Therefore, any deferred tax asset or liability in relation to the acquired 16. It should also be noted that divergences may occur between the amounts of deferred tax assets asset (or liability) must be computed for the purposes of determining Adjusted Covered Taxes under and deferred tax liabilities relevant for GloBE purposes and those amounts reflected in the financial

Article 4.4 based on the acquired asset’s (or liability’s) carrying value for GloBE purposes. The arm’s length accounts as a result of Article 9.1.3. The relevant treatment of these situations has been covered in the price should be the same for the disposing Constituent Entity and the acquiring Constituent Entity, and if Administrative Guidance “Asset carrying value and deferred taxes under 9.1.3 [AG22.04.T2]” released in

the acquiring Constituent Entity’s tax basis is also the same amount, there will not be a deferred tax asset February 2023 and reflected in the Commentary to Article 9.1.3. As such, this guidance does not apply to or liability on the initial acquisition. assets acquired in transactions within the scope of Article 9.1.3. However, to the extent that Article 9.1.3

22. Determination of deferred tax assets based on GloBE carrying values does not displace the applies to an asset that has been subject to Article 6.2.1(c), the relevant carrying value for purposes of

application of the relevant accounting standard. As such, to the extent the relevant accounting standard determining deferred tax assets and deferred tax liabilities is the GloBE carrying value established by

does not allow the recognition of the deferred tax asset or liability on certain transfers (e.g. if the Initial Article 6.2.1(c).

Recognition Exemption in IAS 12 would continue to be applicable in light of the required GloBE 17. The Commentary to Article 9.1.3 (paragraph 10.8) has been amended to clarify that where the

adjustments), no deferred tax expense will be taken into account for GloBE purposes, except in cases acquiring Constituent Entity is subject to the GloBE Rules, the initial recognition of the GloBE deferred tax where the GloBE Rules specifically create a GloBE deferred tax asset (e.g. under Article 9.1.3). Further, asset due to taxes paid by the disposing entity on the transfer shall not reduce the Adjusted Covered Taxes

the acquiring Constituent Entity must determine its Financial Accounting Net Income or Loss by applying of the acquiring Constituent Entity. It has also been amended to clarify that a deferred tax asset should be the accounting treatment applicable under the relevant accounting standard to the acquired asset or liability recognised for GloBE purposes based on the rules of Article 9.1.3 even in circumstances where no such

based on the GloBE carrying value.

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23. For example, a Constituent Entity (Entity A) in Jurisdiction A transfers an asset to another Constituent Entity (Entity B) in Jurisdiction B (corporate tax rate of 20%). The carrying value of the asset for Entity A is 50 and the fair market value of the asset is 150. The transfer is recorded at cost (50) for accounting purposes in accordance with the financial accounting standard used by Entity A for purposes of Article 3.1.2. Entity A reports no gain on the transaction and Entity B records a deferred tax asset in its accounts of 20 (the difference between the accounting carrying value of 50 and the tax basis of 150 multiplied by the tax rate) in accordance with Entity A’s financial accounting standard. Ordinarily this deferred tax asset would be recast to 15 for GloBE purposes in accordance with Article 4.4.1. However, Entity A is required to include 100 of gain from the sale in its GloBE Income due to the application of Article 3.2.3. Because the transaction is subject to Article 3.2.3, Entity B will have a GloBE carrying value for the asset of 150 based on the asset’s fair market value. As such, Entity B would not record any deferred tax asset for GloBE purposes upon acquisition. After recognition, the asset would be amortised under the relevant accounting standard based on its GloBE carrying value for the Fiscal Year and subsequent Fiscal Years. Thus, if the asset is amortised for accounting purposes on a straight-line basis over 10 years, the annual amortisation expense for GloBE purposes will be equal to 15 (150/10). However, if the asset is amortised for tax purposes over a different period, e.g. five years, a deferred tax liability shall be determined for GloBE purposes based on the timing differences that arise after the acquisition and the corresponding deferred tax expense shall be included in the computation of Entity B’s Adjusted Covered Taxes (subject to recasting at the Minimum Rate because the corporate tax rate in Jurisdiction B is above 15%). Further, the deferred tax liability determined for GloBE purposes is subject to recapture for the purposes of Article 4.4.4, unless the deferred tax liability meets the definition of a Recapture Exception Accrual in Article 4.4.5. 24. However, for assets and liabilities subject to impairment testing under the relevant financial accounting standard, the GloBE carrying value will not undergo independent impairment testing if it differs from the accounting carrying value. This approach is designed to prevent MNE Groups from having to conduct separate impairment testing based on the GloBE carrying value. Impairment of the asset or liabilities’ GloBE carrying value (and the related effects on the Constituent Entity’s Adjusted Covered Taxes and GloBE Income or Loss) will only occur if the accounting value (attributable to the same asset or liability) is subject to an impairment in accordance with the relevant financial accounting standard. In such cases, the GloBE carrying value will be reduced to match the accounting carrying value, with the corresponding consequences included in the Constituent Entity’s GloBE Income or Loss and Total Deferred Tax Adjustment Amount. Where the accounting carrying value of an asset or liability post-impairment still exceeds its GloBE carrying value, the GloBE carrying value will remain unchanged and there should be no effect on the Constituent Entity’s GloBE Income or Loss or Adjusted Covered Taxes as a result of the accounting impairment.

Interaction between divergences in GloBE and accounting carrying values and the Substance-based Income Exclusion

25. Article 5.3 sets out that the Net GloBE Income for the jurisdiction shall be reduced by the Substance-based Income Exclusion (SBIE) for the jurisdiction to determine the Excess Profit for purposes of computing the Top-up Tax under Article 5.2. The SBIE amount for a jurisdiction is the sum of the payroll carve-out and the tangible asset carve-out for each Constituent Entity, except for Constituent Entities that are Investment Entities, in that jurisdiction. 26. In determining the amount of the SBIE under Article 5.3.5 the MNE Group must ascertain the sum of the payroll carve-out and the tangible asset carve-out. The Commentary to Article 5.3.5 at paragraph 49 states the following:

“…to determine the carrying value for purposes of the carve-out in conformity with the carrying

value of the asset as recorded for purposes of preparing the Consolidated Financial Statements

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23. For example, a Constituent Entity (Entity A) in Jurisdiction A transfers an asset to another (i.e. after taking into account purchase accounting adjustments and elimination adjustments Constituent Entity (Entity B) in Jurisdiction B (corporate tax rate of 20%). The carrying value of the asset attributable to inter-company sales)”.

for Entity A is 50 and the fair market value of the asset is 150. The transfer is recorded at cost (50) for

27. As such and in line with the current application of Article 5.3.5, the relevant carrying value of an accounting purposes in accordance with the financial accounting standard used by Entity A for purposes

asset for SBIE calculation purposes shall be based on the average of the carrying value (net of of Article 3.1.2. Entity A reports no gain on the transaction and Entity B records a deferred tax asset in its

accumulated depreciation, amortisation, or depletion and including any amount attributable to capitalisation accounts of 20 (the difference between the accounting carrying value of 50 and the tax basis of 150

of payroll expense) at the beginning and ending of the Reporting Fiscal Year as recorded for the purposes multiplied by the tax rate) in accordance with Entity A’s financial accounting standard. Ordinarily this

of preparing the Consolidated Financial Statements of the Ultimate Parent Entity. Any adjustment to the deferred tax asset would be recast to 15 for GloBE purposes in accordance with Article 4.4.1. However,

carrying value of an asset for GloBE purposes under this Administrative Guidance is for the purposes of Entity A is required to include 100 of gain from the sale in its GloBE Income due to the application of Article

determining the GloBE Income or Loss and Covered Taxes of a Constituent Entity and therefore does not 3.2.3. Because the transaction is subject to Article 3.2.3, Entity B will have a GloBE carrying value for the

affect the carrying value for SBIE purposes. asset of 150 based on the asset’s fair market value. As such, Entity B would not record any deferred tax

asset for GloBE purposes upon acquisition. After recognition, the asset would be amortised under the

2.1.3¶Guidance

relevant accounting standard based on its GloBE carrying value for the Fiscal Year and subsequent Fiscal

Years. Thus, if the asset is amortised for accounting purposes on a straight-line basis over 10 years, the

28. The following text in bold will be inserted in paragraph 86 of the Commentary to Article 3.2.1(i): annual amortisation expense for GloBE purposes will be equal to 15 (150/10). However, if the asset is amortised for tax purposes over a different period, e.g. five years, a deferred tax liability shall be determined 86. The adjustment for Accrued Pension Expense required by Article 3.2.1(i) depends upon for GloBE purposes based on the timing differences that arise after the acquisition and the corresponding whether the Constituent Entity’s Financial Accounting Net Income or Loss includes an accrued

deferred tax expense shall be included in the computation of E pension expense or pension income with respect to a Pension Fund. In the case of an accrued

ntity B’s Adjusted Covered Taxes (subject

pension expense, the adjustment is equal to the difference between (a) the amount contributed to to recasting at the Minimum Rate because the corporate tax rate in Jurisdiction B is above 15%). Further, the deferred tax liability determined for GloBE purposes is subject to recapture for the purposes of a Pension Fund and (b) the amount accrued as an expense with respect to that Pension Fund in

the computation of Financial Accounting Net Income or Loss during the Fiscal Year. The Article 4.4.4, unless the deferred tax liability meets the definition of a Recapture Exception Accrual in Article 4.4.5. adjustment to Financial Accounting Net Income or Loss for this difference will be a positive amount

(increasing income) if the amount accrued as an expense in the financial accounts exceeds the 24. However, for assets and liabilities subject to impairment testing under the relevant financial

contributions for the year. It will be a negative amount (reducing income) in Fiscal Years in which accounting standard, the GloBE carrying value will not undergo independent impairment testing if it differs

the contributions exceed the expense accrued in the financial accounts. In the case of accrued from the accounting carrying value. This approach is designed to prevent MNE Groups from having to

pension income, the adjustment would be calculated as the sum of the pension income and the conduct separate impairment testing based on the GloBE carrying value. Impairment of the asset or

amount of pension contributions, if any, during the Fiscal Year. In this case, the adjustment will be liabilities’ GloBE carrying value (and the related effects on the Constituent Entity’s Adjusted Covered Taxes

a negative amount. This adjustment will also apply when the Pension Fund is in surplus as well as and GloBE Income or Loss) will only occur if the accounting value (attributable to the same asset or liability)

when it is in deficit or liability position. The formula to determine the adjustment (positive or is subject to an impairment in accordance with the relevant financial accounting standard. In such cases,

negative) to Financial Accounting Net Income or Loss for the Accrued Pension Expense is as the GloBE carrying value will be reduced to match the accounting carrying value, with the corresponding

follows: consequences included in the Constituent Entity’s GloBE Income or Loss and Total Deferred Tax

Adjustment Amount. Where the accounting carrying value of an asset or liability post-impairment still GloBE Adjustment = (Accrued Income or Expense for fiscal year + contribution for fiscal year) x (-

1) exceeds its GloBE carrying value, the GloBE carrying value will remain unchanged and there should be no effect on the Constituent Entity’s GloBE Income or Loss or Adjusted Covered Taxes as a result of the

Where accounting impairment.

o Accrued income is expressed as a positive amount

Interaction between divergences in GloBE and accounting carrying values and the o Accrued expense is expressed as a negative amount

Substance-based Income Exclusion o Contribution is expressed as a positive amount

25. Article 5.3 sets out that the Net GloBE Income for the jurisdiction shall be reduced by the In cases where the Pension Fund is in surplus and the surplus (net income) is distributed to a Substance-based Income Exclusion (SBIE) for the jurisdiction to determine the Excess Profit for purposes Constituent Entity, that surplus will be included in the computation of the Constituent Entity’s GloBE

of computing the Top-up Tax under Article 5.2. The SBIE amount for a jurisdiction is the sum of the payroll Income or Loss in the Fiscal Year of the distribution. For the purposes of calculating the carve-out and the tangible asset carve-out for each Constituent Entity, except for Constituent Entities that Constituent Entity’s Adjusted Covered Taxes, the deferred tax asset or deferred tax liability

are Investment Entities, in that jurisdiction. in the financial accounts of the Constituent Entity used in the preparation of the

Consolidated Financial Statements should be excluded under Article 4.1.3(a). However,

26. In determining the amount of the SBIE under Article 5.3.5 the MNE Group must ascertain the sum

where a deferred tax expense or benefit relating to pension surplus, it should be included

of the payroll carve-out and the tangible asset carve-out. The Commentary to Article 5.3.5 at paragraph 49

in the computation of the Constituent Entity’s computation of Adjusted Covered Taxes.

states the following:

29. The following text in bold will be inserted in paragraph 89 and a new paragraph 89.1 inserted after

“…to determine the carrying value for purposes of the carve-out in conformity with the carrying

paragraph 89 of the Commentary to Article 3.2.2:

value of the asset as recorded for purposes of preparing the Consolidated Financial Statements

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89. This disparity between the amount of expense allowed in the computation of financial accounting income and the local tax base would often depress the GloBE ETR, in some cases below the Minimum Rate. The election under Article 3.2.2 brings the GloBE Income or Loss more into line with the local tax rules in those jurisdictions that allow a deduction based on the value of the stock at the exercise date. Where the election is made, any amount of stock-based

compensation determined for accounting purposes that would be expensed through the income statement, either as an immediate expense or as amortization or depreciation in respect of an asset, must be excluded from the computation of GloBE Income or Loss, and any deferred tax expense or benefit computed for the purposes of determining the Constituent Entity’s Adjusted Covered Taxes must be calculated by reference to the stock-

based compensation amount included in the Constituent Entity’s GloBE Income or Loss. If the election is not made, the Constituent Entity simply computes its GloBE Income or Loss taking into account the amount of stock-based compensation allowed in the computation of its Financial Accounting Net Income or Loss and any deferred tax expense in relation to its stock-based

compensation amount, adjusted as required by Article 4.4, is included in Adjusted Covered

Taxes. 89.1 Where the election under Article 3.2.2 applies and an amount of stock-based compensation expense that was deducted for tax purposes but capitalized to another asset, such as a building, for accounting purposes, such amount shall be excluded from the GloBE carrying value of the asset for purposes of determining GloBE Income or Loss. Deferred tax assets and liabilities determined in respect of that other asset must be determined based on the GloBE carrying value of the asset. 30. The following text in bold will be inserted in paragraph 96 of the Commentary to Article 3.2.3: 96. Article 3.2.3 requires transactions between Group Entities to be priced consistently with the Arm’s Length Principle and recorded at the same price for GloBE purposes for all Constituent Entities that are parties to the transaction. Article 3.2.3 only applies to transactions undertaken

by a Constituent Entity in a Transition Year and subsequent Fiscal Years. See paragraph 10 through 10.11 of the Commentary to Article 9.1.3 for rules applicable to carrying values and deferred taxes recorded prior to the Transition Year.

31. The following paragraphs will be inserted after paragraph 104 of the Commentary to Article 3.2.3: 104.1 As noted in the Commentary to Article 6.3.1, Article 3.2.3 applies to transactions between Constituent Entities of an MNE Group. Where Article 3.2.3 applies the disposing Constituent Entity would determine its GloBE Income or Loss based on the Arm’s Length Principle. Similarly, in accordance with paragraph 73.2 of the Commentary to Article 6.3.1, the acquiring Constituent Entity will take a GloBE carrying value that reflects this arm’s length price (rather than the carrying value in the financial statements of the Constituent Entity or the MNE Group). This GloBE carrying value is used in determining its GloBE Income or Loss and, in accordance with the Commentary to Article 4.4, its Adjusted Covered Taxes in the Fiscal Year that the transaction occurs and future Fiscal Years. 104.2 For example, a Constituent Entity (Entity A) in Jurisdiction A transfers an asset to another Constituent Entity (Entity B) in Jurisdiction B (corporate tax rate of 20%). The carrying value of the asset for Entity A is 50 and the fair market value of the asset is 150. The transfer is recorded at cost (50) for accounting purposes in accordance with the financial accounting standard used by Entity A for purposes of Article 3.1.2. Entity A reports no gain on the transaction and Entity B records a deferred tax asset in its accounts of 20 (the difference between the accounting carrying value of 50 and the tax basis of 150 multiplied by the tax rate) in accordance with Entity A’s financial accounting standard. Ordinarily this deferred tax asset would be recast to 15 for GloBE purposes in accordance with Article 4.4.1. However, Entity A is required to include 100 of gain from the sale

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89. This disparity between the amount of expense allowed in the computation of financial in its GloBE Income due to the application of Article 3.2.3. Because the transaction is subject to accounting income and the local tax base would often depress the GloBE ETR, in some cases Article 3.2.3, Entity B will have a GloBE carrying value for the asset of 150 based on the asset’s below the Minimum Rate. The election under Article 3.2.2 brings the GloBE Income or Loss more fair market value. As such, Entity B would not record any deferred tax asset for GloBE purposes into line with the local tax rules in those jurisdictions that allow a deduction based on the value of upon acquisition. After recognition, the asset would be amortised under the relevant accounting the stock at the exercise date. Where the election is made, any amount of stock-based standard based on its GloBE carrying value for the Fiscal Year and subsequent Fiscal Years. Thus, compensation determined for accounting purposes that would be expensed through the if the asset is amortised for accounting purposes on a straight-line basis over 10 years, the annual income statement, either as an immediate expense or as amortization or depreciation in amortisation expense for GloBE purposes will be equal to 15 (150/10). However, if the asset is respect of an asset, must be excluded from the computation of GloBE Income or Loss, and amortised for tax purposes over a different period, e.g. five years, a deferred tax liability shall be any deferred tax expense or benefit computed for the purposes of determining the determined for GloBE purposes based on the timing differences that arise after the acquisition and Constituent Entity’s Adjusted Covered Taxes must be calculated by reference to the stock- the corresponding deferred tax expense shall be included in the computation of Entity B’s Adjusted based compensation amount included in the Constituent Entity’s GloBE Income or Loss. If Covered Taxes (subject to recasting at the Minimum Rate because the corporate tax rate in the election is not made, the Constituent Entity simply computes its GloBE Income or Loss taking Jurisdiction B is above 15%). Further, the deferred tax liability determined for GloBE purposes is into account the amount of stock-based compensation allowed in the computation of its Financial subject to recapture for the purposes of Article 4.4.4, unless the deferred tax liability meets the Accounting Net Income or Loss and any deferred tax expense in relation to its stock-based definition of a Recapture Exception Accrual in Article 4.4.5.

compensation amount, adjusted as required by Article 4.4, is included in Adjusted Covered

104.3 To further illustrate, assume the same facts as the example above, except that the tax Taxes.

basis of the transferred asset determined in accordance with the tax laws applicable to Jurisdiction 89.1 Where the election under Article 3.2.2 applies and an amount of stock-based B is $160. Given the difference between the GloBE carrying value ($150) and the tax basis ($160), compensation expense that was deducted for tax purposes but capitalized to another asset, such Entity B will accrue a deferred tax asset of $1.50 for GloBE purposes. This recognition of the as a building, for accounting purposes, such amount shall be excluded from the GloBE carrying deferred tax asset will result in a reduction of Entity B’s Adjusted Covered Taxes by $1.50 in the value of the asset for purposes of determining GloBE Income or Loss. Deferred tax assets and Fiscal Year of the acquisition. After recognition, the asset would be amortised under the relevant liabilities determined in respect of that other asset must be determined based on the GloBE accounting standard based on its GloBE carrying value for the Fiscal Year and subsequent Fiscal carrying value of the asset. Years and the deferred tax asset would reverse over the accounting amortisation period.

30. The following text in bold will be inserted in paragraph 96 of the Commentary to Article 3.2.3: 32. The following paragraph will be inserted after paragraph 118 of the Commentary to Article 3.2.5: 96. Article 3.2.3 requires transactions between Group Entities to be priced consistently with 118.1 In accordance with the Commentary to Article 4.4, where an election to use the realisation the Arm’s Length Principle and recorded at the same price for GloBE purposes for all Constituent method is made under Article 3.2.5, any deferred tax expense for the purposes of determining the Entities that are parties to the transaction. Article 3.2.3 only applies to transactions undertaken Constituent Entity’s Adjusted Covered Taxes must be determined by reference to the GloBE by a Constituent Entity in a Transition Year and subsequent Fiscal Years. See paragraph 10 carrying value of the relevant assets at the commencement of the Fiscal Year in which the election through 10.11 of the Commentary to Article 9.1.3 for rules applicable to carrying values and is made. For assets acquired after the first day of Fiscal Year in which election is made, Adjusted deferred taxes recorded prior to the Transition Year. Covered Taxes must be determined by reference to the carrying value of the asset (determined in

accordance with the GloBE Rules, including the election to use the realisation method). For 31. The following paragraphs will be inserted after paragraph 104 of the Commentary to Article 3.2.3:

example, in the case of an equity security acquired after the election date that is subject to fair 104.1 As noted in the Commentary to Article 6.3.1, Article 3.2.3 applies to transactions between value accounting but subject to tax on a realisation basis, any movement in the accounting deferred Constituent Entities of an MNE Group. Where Article 3.2.3 applies the disposing Constituent Entity tax expense in relation to the asset should be disregarded as it relates to gains or losses would determine its GloBE Income or Loss based on the Arm’s Length Principle. Similarly, in attributable to amounts that are excluded from the computation of GloBE Income or Loss under accordance with paragraph 73.2 of the Commentary to Article 6.3.1, the acquiring Constituent the election. In contrast, any deferred tax asset or liability related to an equity security owned by Entity will take a GloBE carrying value that reflects this arm’s length price (rather than the carrying the Constituent Entity at the beginning of the Fiscal Year in which the election was made will value in the financial statements of the Constituent Entity or the MNE Group). This GloBE carrying reverse when and to the extent that the carrying value of the asset or liability subject to the value is used in determining its GloBE Income or Loss and, in accordance with the Commentary realisation method election is included in the computation of the Constituent Entity's GloBE Income to Article 4.4, its Adjusted Covered Taxes in the Fiscal Year that the transaction occurs and future or Loss. Where assets and liabilities covered by the election are also subject to tax on a mark-to- Fiscal Years. market basis, any deferred tax asset or deferred tax liability should be determined by reference to

the GloBE carrying value (either the GloBE carrying value of the relevant assets at the 104.2 For example, a Constituent Entity (Entity A) in Jurisdiction A transfers an asset to another

commencement of the Fiscal Year in which the election is made or when the asset was acquired). Constituent Entity (Entity B) in Jurisdiction B (corporate tax rate of 20%). The carrying value of the asset for Entity A is 50 and the fair market value of the asset is 150. The transfer is recorded at 33. The following paragraph will be inserted after paragraph 145 of the Commentary to Article 3.2.11: cost (50) for accounting purposes in accordance with the financial accounting standard used by

145.1 Where Article 3.2.11 applies and requires an adjustment to the carrying value of an asset Entity A for purposes of Article 3.1.2. Entity A reports no gain on the transaction and Entity B

or liability for GloBE purposes, any deferred tax expense included in a Constituent Entity’s Adjusted records a deferred tax asset in its accounts of 20 (the difference between the accounting carrying

Covered Taxes (i.e., the Total Deferred Tax Adjustment Amount) must be computed on the basis value of 50 and the tax basis of 150 multiplied by the tax rate) in accordance with Entity A’s financial

of the GloBE carrying value of the asset or liability, unless the GloBE Rules specifically permit or accounting standard. Ordinarily this deferred tax asset would be recast to 15 for GloBE purposes

require the deferred tax assets or liabilities to be determined on another basis. That is, where a in accordance with Article 4.4.1. However, Entity A is required to include 100 of gain from the sale

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Constituent Entity’s Financial Accounting Net Income or Loss is adjusted to reflect the requirements of the relevant provisions of Chapters 6 and 7, its Adjusted Covered Taxes, including its Total Deferred Tax Adjustment Amount must be calculated reflecting equivalent adjustments to the carrying value of the assets or liabilities. 34. The following bold text will be added to paragraph 68 of the Commentary to Article 4.4: 68. While Article 4.4 uses existing deferred tax accounts maintained by MNE Groups to the greatest extent possible to simplify compliance, certain adjustments are required to protect the integrity of the GloBE Rules. These adjustments include using the lower of the Minimum Rate or the applicable tax rate to calculate deferred tax assets and liabilities in order to prevent deferred tax amounts from sheltering unrelated GloBE Income. The rules also require the recapture of certain amounts claimed as deferred tax liabilities that are not paid within five years. Exceptions to the recapture requirement are provided for the most common and material book to tax differences when they relate to substance in a jurisdiction or are not prone to taxpayer manipulation. These amounts do not require monitoring for recapture. 35. The following paragraphs will be inserted after paragraph 68 of the Commentary to Article 4.4: 68.1. The GloBE Rules generally rely on the amounts reflected in the financial accounts of a Constituent Entity used in the preparation of Consolidated Financial Statements of the UPE as the starting point for determining the GloBE Income or Loss (under Article 3.1.2 or Article 3.1.3) and Adjusted Covered Taxes (under Article 4.1 through Article 4.4) of each Constituent Entity. As noted in paragraph 70 below, for the purposes of determining the Total Deferred Tax Adjustment Amount for a Constituent Entity, the starting point is the amount of deferred tax expense accrued in the financial accounts of a Constituent Entity used in the preparation of the UPE’s Consolidated Financial Statements. 68.2. Deferred tax expense is typically computed based on differences between the financial accounting and tax carrying values of assets and liabilities. However, there are cases where the GloBE Rules require the Constituent Entity to determine its GloBE Income or Loss by reference to a carrying value of assets or liabilities that may be different from the carrying value reflected in those financial accounts. These carrying value divergences may arise under various circumstances, including the following circumstances:

(a) Article 3.2.1(i), which adjusts a Constituent Entity’s Financial Accounting Net Income or Loss for accrued pension expense; (b) Article 3.2.2, which provides an election to substitute the amount of stock-based compensation allowed as a deduction in the computation of a Constituent Entity’s taxable income for the amount of stock-based compensation expense reported in the financial accounts; (c) Article 3.2.3, which requires MNE Groups to apply the Arm’s Length Principle to certain intra-group transactions in order to protect the integrity of jurisdictional blending; (d) Article 3.2.5, which provides an election to determine gains and losses using the realisation principle in lieu of fair value accounting; (e) Article 6.2.1(c), which provides that a target in the acquisition year and each succeeding year shall determine its GloBE Income or Loss and Adjusted Covered Taxes using its historical carrying value of the assets and liabilities; (f) Article 6.3.1,

(i) when Article 6.2.2 applies, which provides that certain acquisitions or disposals of

a Controlling Interest in a Constituent Entity shall be treated as an acquisition or disposal

of the assets and liabilities; or

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Constituent Entity’s Financial Accounting Net Income or Loss is adjusted to reflect the (ii) when Article 3.2.3 applies in respect of asset transfers not recorded at arm’s

requirements of the relevant provisions of Chapters 6 and 7, its Adjusted Covered Taxes, including length, whereby any transaction between Constituent Entities located in different its Total Deferred Tax Adjustment Amount must be calculated reflecting equivalent adjustments to jurisdictions (and between Joint Ventures and Constituent Entities located in the same the carrying value of the assets or liabilities. jurisdiction) that is not recorded in the same amount in the financial accounts of both

Constituent Entities or that is not consistent with the Arm’s Length Principle must be 34. The following bold text will be added to paragraph 68 of the Commentary to Article 4.4:

adjusted so as to be in the same amount and consistent with the Arm’s Length Principle;

68. While Article 4.4 uses existing deferred tax accounts maintained by MNE Groups to the

(g) Article 6.3.2, which requires an acquiring Constituent Entity in a GloBE Reorganisation to greatest extent possible to simplify compliance, certain adjustments are required to protect the

determine its GloBE Income or Loss after the acquisition using the disposing Entity’s carrying integrity of the GloBE Rules. These adjustments include using the lower of the Minimum Rate or

values of the acquired assets and liabilities; the applicable tax rate to calculate deferred tax assets and liabilities in order to prevent deferred

(h) Article 6.3.3, which requires an acquiring Constituent Entity in a GloBE Reorganisation tax amounts from sheltering unrelated GloBE Income. The rules also require the recapture of

wherein a disposing Constituent Entity recognises Non-qualifying Gain or Loss to determine its certain amounts claimed as deferred tax liabilities that are not paid within five years. Exceptions

GloBE Income or Loss after the acquisition using the disposing Entity’s carrying value of the to the recapture requirement are provided for the most common and material book to tax

acquired assets and liabilities adjusted consistent with local tax rules to account for the Nondifferences when they relate to substance in a jurisdiction or are not prone to taxpayer

qualifying Gain or Loss; and manipulation. These amounts do not require monitoring for recapture.

(i) Article 6.3.4, when an MNE Group makes the election to align the outcomes under GloBE 35. The following paragraphs will be inserted after paragraph 68 of the Commentary to Article 4.4:

with those that apply under local tax law and the Constituent Entity recognises a gain or loss 68.1. The GloBE Rules generally rely on the amounts reflected in the financial accounts of a and adjusts the carrying value of its assets and liabilities for purposes of the GloBE Rules.

Constituent Entity used in the preparation of Consolidated Financial Statements of the UPE as the

68.3. Where the GloBE Income or Loss of the Constituent Entity is calculated based on different starting point for determining the GloBE Income or Loss (under Article 3.1.2 or Article 3.1.3) and

carrying values of assets or liabilities, it is not appropriate for the purposes of Article 4.4 to rely on Adjusted Covered Taxes (under Article 4.1 through Article 4.4) of each Constituent Entity. As noted

any deferred tax expense or benefit accrued in the financial accounts in connection with deferred in paragraph 70 below, for the purposes of determining the Total Deferred Tax Adjustment Amount

tax assets and liabilities determined by reference to the accounting carrying value of assets or for a Constituent Entity, the starting point is the amount of deferred tax expense accrued in the

liabilities. This is because the timing differences in respect of the asset or liability under the GloBE financial accounts of a Constituent Entity used in the preparation of the UPE’s Consolidated

Rules will not correspond to the timing differences reflected in the financial accounting deferred Financial Statements.

tax assets and liabilities. In such cases, MNE Groups must determine the deferred tax assets and 68.2. Deferred tax expense is typically computed based on differences between the financial liabilities for GloBE purposes based on the GloBE carrying value (rather than the carrying amount accounting and tax carrying values of assets and liabilities. However, there are cases where the in the financial accounts) and the tax carrying value (tax basis), unless otherwise specified under GloBE Rules require the Constituent Entity to determine its GloBE Income or Loss by reference to the GloBE Rules, and the deferred tax expense or benefit in respect of such deferred tax asset or a carrying value of assets or liabilities that may be different from the carrying value reflected in liability and its subsequent adjustments must be used to compute the Total Deferred Tax those financial accounts. These carrying value divergences may arise under various Adjustment Amount for purposes of determining the Adjusted Covered Taxes of the Constituent circumstances, including the following circumstances: Entity. The recognition and measurement of any deferred tax asset or deferred tax liability and

adjustments based on the GloBE carrying value shall apply for all GloBE purposes, and therefore

(a) Article 3.2.1(i), which adjusts a Constituent Entity’s Financial Accounting Net Income or

the deferred tax expense or benefit of a Constituent Entity for GloBE purposes must be

Loss for accrued pension expense;

recalculated based on the GloBE carrying value of the relevant assets and liabilities in accordance

(b) Article 3.2.2, which provides an election to substitute the amount of stock-based with the Acceptable Financial Accounting Standard (or Authorised Financial Accounting Standard,

compensation allowed as a deduction in the computation of a Constituent Entity’s taxable if applicable), unless otherwise specified under the GloBE Rules. For example, the amount of a

income for the amount of stock-based compensation expense reported in the financial deferred tax liability determined by reference to the GloBE carrying value of an asset or liability is

accounts; still subject to recasting under Article 4.4.1. As such, movements in the deferred tax asset or liability

(c) Article 3.2.3, which requires MNE Groups to apply the Arm’s Length Principle to certain calculated based on the accounting carrying value are ignored for purposes of the GloBE Rules

intra-group transactions in order to protect the integrity of jurisdictional blending; when deferred tax assets and liabilities are calculated based on the GloBE carrying value, including

any amortisation or depreciation of the relevant asset or liability with the relevant financial

(d) Article 3.2.5, which provides an election to determine gains and losses using the

accounting standard for GloBE purposes in future Fiscal Years. realisation principle in lieu of fair value accounting;

(e) Article 6.2.1(c), which provides that a target in the acquisition year and each succeeding 68.4. Determination of deferred tax assets based on GloBE carrying values does not displace the

year shall determine its GloBE Income or Loss and Adjusted Covered Taxes using its historical application of the financial accounting standard used under Article 3.1.2 or Article 3.1.3. As such,

carrying value of the assets and liabilities; to the extent that the relevant financial accounting standard does not allow the recognition of the

deferred tax asset or liability on such transfers (e.g. if the Initial Recognition Exemption in IAS 12

(f) Article 6.3.1,

would continue to be applicable in light of the required GloBE adjustments), no deferred tax

(i) when Article 6.2.2 applies, which provides that certain acquisitions or disposals of

expense should be taken into account for GloBE purposes, except in cases where the GloBE Rules

a Controlling Interest in a Constituent Entity shall be treated as an acquisition or disposal

specifically create a GloBE deferred tax asset (e.g. under Article 9.1.3). Similarly, the conditions in

of the assets and liabilities; or

Article 4.4.1 continue to apply to a deferred tax asset or deferred tax liability based on the GloBE

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carrying value. For example, to the extent the deferred tax expense arising from a deferred tax asset or deferred tax liability based on the accounting carrying value was in respect of items excluded from the computation of a Constituent Entity’s GloBE Income or Loss, the deferred tax asset or deferred tax liability based on GloBE carrying value should similarly be excluded from the Constituent Entity’s Total Deferred Tax Adjustment Amount.

68.5. However, for assets and liabilities subject to impairment testing under the relevant financial accounting standard, the GloBE carrying value will not undergo independent impairment testing if it differs from the accounting carrying value. This approach is designed to prevent MNE Groups from having to conduct separate impairment testing based on the GloBE carrying value. Impairment of the asset or liabilities’ GloBE carrying value (and the related effects on the Constituent Entity’s Adjusted Covered Taxes and GloBE Income or Loss) will only occur if the accounting value (attributable to the same asset or liability) is subject to an impairment in accordance with the relevant financial accounting standard and the post-impairment accounting carrying value is lower than the GloBE carrying value. In such cases, the GloBE carrying value will be reduced to match the accounting carrying value, with the corresponding consequences included in the Constituent Entity’s GloBE Income or Loss and Total Deferred Tax Adjustment Amount. However, any inclusion of an amount in GloBE Income and Loss and Total Deferred Tax Adjustment Amount remains subject to the general application of the GloBE Rules. For instance, such amounts should not pertain to items excluded from the computation of GloBE Income or Loss under Chapter 3. Where the accounting carrying value is impaired in accordance with the relevant financial accounting standard and the post-impairment carrying value is higher than the asset or liabilities GloBE carrying value, the GloBE carrying value will remain unaffected by the impairment and there should be no effect on the Constituent Entity’s GloBE Income or Loss, or its Adjusted Covered Taxes. 68.6. There are also instances in the GloBE Rules where an amount contained in financial accounts used to compute the Financial Accounting Net Income or Loss of a Constituent Entity is substituted from another amount. Typically, these substituted amounts are aligned with the income tax amounts in the jurisdiction the Constituent Entity is located. For example, where an election is made in accordance with Article 3.2.2. a Constituent Entity may substitute the amount allowed as a deduction in the computation of its taxable income in its location for the amount expensed in its financial accounts for a cost or expense of such Constituent Entity that was paid with or accrued with respect to stock-based compensation. In situations where the amount in the financial accounts is no longer the basis for computation of a Constituent Entity’s GloBE Income or Loss, any deferred tax asset or deferred tax liability in the financial accounts in relation to the amount should be disregarded for the purposes of Article 4.4.1 and any deferred tax asset or deferred tax liability in relation should be calculated by reference to the amount included in the Constituent Entity’s GloBE Income or Loss. 36. The following paragraph will be inserted after paragraph 90 of the Commentary to Article 4.4.4: 90.1 To the extent that a deferred tax liability arises in circumstances where there is a divergence between the carrying value of an asset or liability for financial accounting and GloBE purposes, the amount of the deferred tax liability calculated by reference to the GloBE carrying value is subject to recapture for the purposes of Article 4.4.4, unless the deferred tax liability meets the definition of a Recapture Exception Accrual in Article 4.4.5 or is subject to an Unclaimed Accrual election under Article 4.4.7. Whether an accrued deferred tax liability reverses within five years is determined based on the GloBE carrying value of the asset or liability to which the deferred tax liability relates. In the Fiscal Year to which the divergence between the carrying value of an asset or liability for financial accounting and GloBE purposes originally occurs and subsequent Fiscal Years, the deferred tax liability (if any) for GloBE purposes must be calculated on the basis of the GloBE carrying value.

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carrying value. For example, to the extent the deferred tax expense arising from a deferred tax 37. The following text in bold will be inserted in paragraph 49 of the Commentary to Article 5.3.5:

asset or deferred tax liability based on the accounting carrying value was in respect of items

49. Article 5.3.5 sets out the rules for determining the carrying value of Eligible Tangible excluded from the computation of a Constituent Entity’s GloBE Income or Loss, the deferred tax

Assets for purposes of the tangible asset carve-out. The Article requires the MNE Group to asset or deferred tax liability based on GloBE carrying value should similarly be excluded from the

determine the carrying value for purposes of the carve-out in conformity with the carrying value of Constituent Entity’s Total Deferred Tax Adjustment Amount.

the asset as recorded for purposes of preparing the Consolidated Financial Statements (i.e. after

68.5. However, for assets and liabilities subject to impairment testing under the relevant taking into account purchase accounting adjustments and elimination adjustments attributable to

financial accounting standard, the GloBE carrying value will not undergo independent impairment inter-company sales). While there may be situations where the carrying value for the

testing if it differs from the accounting carrying value. This approach is designed to prevent MNE purposes of calculating the GloBE Income or Loss of a Constituent Entity is different to

Groups from having to conduct separate impairment testing based on the GloBE carrying value. that recorded in the financial accounts of the Constituent Entity (e.g. due to the application Impairment of the asset or liabilities’ GloBE carrying value (and the related effects on the of Article 6.3.4), the carrying value used in the preparation of the Consolidated Financial

Constituent Entity’s Adjusted Covered Taxes and GloBE Income or Loss) will only occur if the Statements shall be used for purposes of the tangible asset carve-out (not the GloBE

accounting value (attributable to the same asset or liability) is subject to an impairment in carrying value). The carrying value of each asset for purposes of the carve-out is the average of

accordance with the relevant financial accounting standard and the post-impairment accounting the beginning and end of year carrying values. Thus, if an asset is acquired or disposed during the

carrying value is lower than the GloBE carrying value. In such cases, the GloBE carrying value will Fiscal Year, its carrying value at the beginning or end of the Fiscal Year will be zero. Because the

be reduced to match the accounting carrying value, with the corresponding consequences included zero carrying value is included in the computation of the average, the carve-out for assets acquired in the Constituent Entity’s GloBE Income or Loss and Total Deferred Tax Adjustment Amount. or disposed during the year will be based on half of the carrying value of asset at the end or

However, any inclusion of an amount in GloBE Income and Loss and Total Deferred Tax beginning of the year. The consequence of taking into account purchase accounting adjustments

Adjustment Amount remains subject to the general application of the GloBE Rules. For instance, in respect of Eligible Tangible Assets and ignoring inter-company sales adjustments is that the

such amounts should not pertain to items excluded from the computation of GloBE Income or Loss tangible asset carve-out is based on the cost of acquiring the assets from unrelated persons and under Chapter 3. Where the accounting carrying value is impaired in accordance with the relevant reflects the MNE Group’s actual investment in the relevant assets. Failure to include purchase

financial accounting standard and the post-impairment carrying value is higher than the asset or accounting adjustments would understate the actual investment and including inter-company sales

liabilities GloBE carrying value, the GloBE carrying value will remain unaffected by the impairment could overstate or understate the actual investment. and there should be no effect on the Constituent Entity’s GloBE Income or Loss, or its Adjusted

38. The following text will be inserted after paragraph 17 of the Commentary to Chapter 6: Covered Taxes.

17.1. Given this, using the example provided in paragraphs 13 through 16 above, the carrying 68.6. There are also instances in the GloBE Rules where an amount contained in financial

value of A Co’s assets will be retained at their historical carrying value of USD 100 for GloBE accounts used to compute the Financial Accounting Net Income or Loss of a Constituent Entity is

purposes in accordance Article 6.2.1(c) upon MNE Group B’s acquisition of A Co. Any deferred substituted from another amount. Typically, these substituted amounts are aligned with the income

tax liability recognised on acquisition attributable to a business combination should be disregarded tax amounts in the jurisdiction the Constituent Entity is located. For example, where an election is

for GloBE purposes on the basis that the deferred tax liability arises as a result of purchase made in accordance with Article 3.2.2. a Constituent Entity may substitute the amount allowed as

accounting adjustments and therefore must be disregarded for GloBE purposes. Further, on a deduction in the computation of its taxable income in its location for the amount expensed in its

disposal of the assets, A Co will include USD 200 in its GloBE Income or Loss (equal to the sale financial accounts for a cost or expense of such Constituent Entity that was paid with or accrued

price of USD 300 less the GloBE carrying value of USD 100). Any reversal of the deferred tax with respect to stock-based compensation. In situations where the amount in the financial accounts

liability recognised in the accounts on acquisition is also excluded from A Co’s Total Deferred Tax is no longer the basis for computation of a Constituent Entity’s GloBE Income or Loss, any deferred

Adjustment Amount. tax asset or deferred tax liability in the financial accounts in relation to the amount should be disregarded for the purposes of Article 4.4.1 and any deferred tax asset or deferred tax liability in 39. The following text will be inserted after paragraph 46 of the Commentary to Article 6.2: relation should be calculated by reference to the amount included in the Constituent Entity’s GloBE

46.1. With the exception of Article 6.2.1(c), the rules described in Article 6.2.1 and Article 6.2.2 Income or Loss.

apply to direct or indirect disposition or acquisition of a Controlling Interest that occurs during a

36. The following paragraph will be inserted after paragraph 90 of the Commentary to Article 4.4.4: Transition Year and subsequent Fiscal Years. As described in paragraph 51, Article 6.2.1(c)

applies to pre-Transition Year transactions as well as transactions occurring in the Transition Year 90.1 To the extent that a deferred tax liability arises in circumstances where there is a

and subsequent Fiscal Years. Article 6.2.2 applies during the Transition Year and subsequent divergence between the carrying value of an asset or liability for financial accounting and GloBE

Fiscal Years. In these circumstances, the definition of the Transition Year also considers any purposes, the amount of the deferred tax liability calculated by reference to the GloBE carrying

modifications to that term when an MNE Group is subject to the Transitional CbCR Safe Harbour value is subject to recapture for the purposes of Article 4.4.4, unless the deferred tax liability meets

in a specific jurisdiction. the definition of a Recapture Exception Accrual in Article 4.4.5 or is subject to an Unclaimed Accrual election under Article 4.4.7. Whether an accrued deferred tax liability reverses within five 40. The following paragraphs will be inserted after paragraph 51 of the Commentary to Article 6.2.1:

years is determined based on the GloBE carrying value of the asset or liability to which the deferred

51.1. In accordance with the Commentary to Article 4.4, the computation of a Constituent tax liability relates. In the Fiscal Year to which the divergence between the carrying value of an

Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year in relation to assets and asset or liability for financial accounting and GloBE purposes originally occurs and subsequent

liabilities to which Article 6.2.1 applies must be calculated based on the carrying value of those Fiscal Years, the deferred tax liability (if any) for GloBE purposes must be calculated on the basis

assets or liabilities for GloBE purposes (corresponding to the historical carrying value, as of the of the GloBE carrying value.

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year of the acquisition, and adjusted for depreciation, amortisation as well additions, capitalised expenditure and disposals of the assets and liabilities of the acquired Constituent Entity for each subsequent Fiscal Year) and accounted for in subsequent Fiscal Years in accordance with the relevant accounting standard. 51.2. Where the relevant transaction has occurred prior to a Transition Year for the acquiring Constituent Entity and is subject to Article 6.2.1(c), the relevant deferred tax assets and deferred tax liabilities for the purposes of Article 9.1.1 must be based on the GloBE carrying value instead of the carrying value amounts used to determine the deferred tax expense accrued in the financial accounts. A deferred tax asset or deferred tax liability may be taken into account for the purposes of Article 9.1.1 even in cases where none is recorded for financial accounting purposes (for instance, where carrying value amount in the financial accounts of the Constituent Entity is equal to the tax basis, but where the GloBE carrying value after applying Article 6.2.1(c) differs). The meaning of Transition Year in such circumstances also takes into account the modification of that term where an MNE Group is subject to the Transitional CbCR Safe Harbour in a jurisdiction. 41. The following paragraph will be inserted after paragraph 70 of the Commentary to Article 6.3: 70.1. Article 6.3.1 through Article 6.3.4 apply to the acquisition or disposition of assets and liabilities that occur during a Transition Year and subsequent Fiscal Years. For acquisitions or dispositions of assets and liabilities that occur prior to a Transition Year and deferred tax assets and deferred tax liabilities related to such assets and liabilities, see Articles 9.1.1 through 9.1.3. For the purposes of the application of the abovementioned Articles, the definition of the Transition Year also considers any modifications to that term when an MNE Group is subject to the Transitional CbCR Safe Harbour in a specific jurisdiction. 42. The following text in bold will be inserted in paragraphs 71 and 72 of the Commentary to Article 6.3.1: 71. Article 6.3.1 relates to an acquisition or disposition of assets and liabilities that is not part of a GloBE Reorganisation. The Article follows the accounting treatment for both the disposing Entity and the acquiring Entity. Financial accounting rules generally recognise a seller’s gain or loss on the disposition of assets and liabilities and require the acquirer to use the acquisition price, which is generally the fair value of the assets, to measure the assets and liabilities upon its acquisition. As such, for GloBE purposes, the disposing Entity must include gain or loss from the disposition of assets and liabilities in its computation of GloBE Income or Loss and the acquiring Entity must use the adjusted carrying value as determined under the financial accounting standard used in preparing the Consolidated Financial Statements of the UPE. As discussed in

paragraph 18 of the Commentary to Chapter 6, any adjustments in the financial accounts due to an acquisition of assets and liabilities that is treated as a business combination under the relevant accounting standard but not a GloBE Reorganisation should be taken into account under Article 6.3.1 in determining the GloBE Income or Loss and Adjusted Covered Taxes of a Constituent Entity. An acquisition of a combination of assets and liabilities without the acquisition of the legal entity that transferred the assets may be treated as a business combination under the relevant accounting standard. Where such transactions are treated as business combinations under the relevant accounting standard, Adjusted Covered Taxes of a Constituent Entity shall be determined in accordance with the requirements of the income tax accounting standard (e.g. IAS 12) that prescribes income tax accounting for business combinations. This ensures that business combinations are accounted for consistently for both GloBE Income or Loss and Adjusted Covered Taxes.

72. In a transfer to which Article 6.2.2 applies, the carrying value of the acquired assets and liabilities for GloBE purposes is based on their fair value to the extent a gain or loss on those assets and liabilities was included in the GloBE Income or Loss computation of the selling disposing

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year of the acquisition, and adjusted for depreciation, amortisation as well additions, capitalised Constituent Entity of an MNE Group. The fair value must be used in the computation of the expenditure and disposals of the assets and liabilities of the acquired Constituent Entity for each acquiring Constituent Entity’s computation of GloBE Income or Loss in the acquisition year and

subsequent Fiscal Year) and accounted for in subsequent Fiscal Years in accordance with the subsequent Fiscal Years irrespective of whether the fair value adjustments are reflected in the relevant accounting standard. Entity’s financial accounts or the MNE Group’s consolidated financial accounts. In accordance

with the Commentary to Article 4.4, the computation of the acquiring Constituent Entity’s

51.2. Where the relevant transaction has occurred prior to a Transition Year for the acquiring

Total Deferred Tax Adjustment Amount for the Fiscal Year and subsequent Fiscal Years in

Constituent Entity and is subject to Article 6.2.1(c), the relevant deferred tax assets and deferred

relation to assets and/or liabilities to which Article 6.2.2 applies must similarly be calculated

tax liabilities for the purposes of Article 9.1.1 must be based on the GloBE carrying value instead

based on their carrying value for GloBE purposes (fair value to the extent a gain or loss on

of the carrying value amounts used to determine the deferred tax expense accrued in the financial

those assets and liabilities was included in the GloBE Income or Loss computation of the

accounts. A deferred tax asset or deferred tax liability may be taken into account for the purposes

disposing Constituent Entity).

of Article 9.1.1 even in cases where none is recorded for financial accounting purposes (for instance, where carrying value amount in the financial accounts of the Constituent Entity is equal 43. The following text in strikethrough will be removed from and the following text in bold will be to the tax basis, but where the GloBE carrying value after applying Article 6.2.1(c) differs). The inserted in paragraph 73.1 of the Commentary to Article 6.3.1 and the following inserted after meaning of Transition Year in such circumstances also takes into account the modification of that paragraph 73.1 of the Commentary to Article 6.3.1: term where an MNE Group is subject to the Transitional CbCR Safe Harbour in a jurisdiction.

73.1. In a transaction between Constituent Entities of an MNE Group that is described in Article 41. The following paragraph will be inserted after paragraph 70 of the Commentary to Article 6.3: 6.3.1, the GloBE Income or Loss of the disposing Constituent Entity is determined in accordance

with Article 3.2.3. The Arm’s Length Principle under Article 3.2.3 applies irrespective of whether 70.1. Article 6.3.1 through Article 6.3.4 apply to the acquisition or disposition of assets and

the MNE Group accounts for transactions between Constituent Entities at the disposing liabilities that occur during a Transition Year and subsequent Fiscal Years. For acquisitions or

Constituent Entity’s carrying value, rather than based on fair value at the time of the transfer. dispositions of assets and liabilities that occur prior to a Transition Year and deferred tax assets

The Inclusive Framework will develop further guidance, including possible simplifications, for an and deferred tax liabilities related to such assets and liabilities, see Articles 9.1.1 through 9.1.3.

acquiring Constituent Entity to avoid any possible double taxation attributable to the MNE Group’s For the purposes of the application of the abovementioned Articles, the definition of the Transition

accounting for intra-group transactions. Year also considers any modifications to that term when an MNE Group is subject to the Transitional CbCR Safe Harbour in a specific jurisdiction. 73.2. Further, where Article 6.3.1 applies, the acquiring Constituent Entity will take a carrying

value for GloBE purposes based on the Arm’s Length Principle as determined under the preceding 42. The following text in bold will be inserted in paragraphs 71 and 72 of the Commentary to Article

paragraph for purposes of determining the acquiring Constituent Entity’s GloBE Income or Loss in 6.3.1:

respect of the transferred asset or liability in the Fiscal Year of acquisition and subsequent Fiscal 71. Article 6.3.1 relates to an acquisition or disposition of assets and liabilities that is not part Years. This is regardless of whether the MNE Group, for financial accounting purposes, of a GloBE Reorganisation. The Article follows the accounting treatment for both the disposing determines its deferred tax assets or liabilities by comparing the tax basis of the relevant asset or Entity and the acquiring Entity. Financial accounting rules generally recognise a seller’s gain or liability to the disposing Constituent Entity’s carrying value or to its fair value at the time of the

loss on the disposition of assets and liabilities and require the acquirer to use the acquisition price, transfer. In accordance with the Commentary to Article 4.4, the computation of a Constituent which is generally the fair value of the assets, to measure the assets and liabilities upon its Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year and subsequent Fiscal Years acquisition. As such, for GloBE purposes, the disposing Entity must include gain or loss from the in relation to assets and liabilities to which the adjustment made by Article 3.2.3 applies must disposition of assets and liabilities in its computation of GloBE Income or Loss and the acquiring similarly be calculated based on their carrying value for GloBE purposes. Entity must use the adjusted carrying value as determined under the financial accounting standard

44. The following text in bold will be inserted in paragraph 75 of the Commentary to Article 6.3.2: used in preparing the Consolidated Financial Statements of the UPE. As discussed in paragraph 18 of the Commentary to Chapter 6, any adjustments in the financial accounts 75. Article 6.3.2(a) provides that the disposing Constituent Entity will not recognise the gain due to an acquisition of assets and liabilities that is treated as a business combination or loss from the transfer of the assets and liabilities for GloBE purposes. Pursuant to Article 6.3.2(b) under the relevant accounting standard but not a GloBE Reorganisation should be taken future profit or loss of the acquiring Constituent Entity will be determined on the basis of the into account under Article 6.3.1 in determining the GloBE Income or Loss and Adjusted historical carrying amounts of the acquired assets and liabilities. The computation of the

Covered Taxes of a Constituent Entity. An acquisition of a combination of assets and acquiring Constituent Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year liabilities without the acquisition of the legal entity that transferred the assets may be and subsequent Fiscal Years in relation to assets and/or liabilities to which Article 6.3.2 treated as a business combination under the relevant accounting standard. Where such applies must similarly be calculated based on their carrying value for GloBE purposes transactions are treated as business combinations under the relevant accounting standard, (historical carrying value). The GloBE carrying value of the assets and liabilities at the end Adjusted Covered Taxes of a Constituent Entity shall be determined in accordance with the of the Fiscal Year and subsequent Fiscal Years is determined by applying the relevant requirements of the income tax accounting standard (e.g. IAS 12) that prescribes income accounting standard to the GloBE carrying value initially determined under Article 6.3.2. tax accounting for business combinations. This ensures that business combinations are This would exclude any deferred tax asset or deferred tax liability from the GloBE accounted for consistently for both GloBE Income or Loss and Adjusted Covered Taxes. calculations on acquisition to the extent the GloBE and tax carrying values of the asset or

liability are aligned. The Constituent Entity must maintain accounting records to support the 72. In a transfer to which Article 6.2.2 applies, the carrying value of the acquired assets and

computation of GloBE Income or Loss and Total Deferred Tax Adjustment Amount by reference liabilities for GloBE purposes is based on their fair value to the extent a gain or loss on those assets

to the historical carrying amounts of the acquired assets and liabilities. and liabilities was included in the GloBE Income or Loss computation of the selling disposing

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45. The following text in bold will be inserted in paragraph 77 of the Commentary to Article 6.3.3: 77. In the context of such GloBE Reorganisations, Article 6.3.3 provides that the disposing Constituent Entity will include a gain or loss to the extent of the Non-Qualifying Gain or Loss. This means that the computation of GloBE Income or Loss will include the lesser of the amount of gain or loss reflected in the financial accounts or the amount of the taxable gain or loss arising from the GloBE Reorganisation. Further, the acquiring Constituent Entity will increase or decrease the carrying amounts of the acquired assets and liabilities to account for the Non-qualifying Gain or Loss. The changes in carrying value for GloBE purposes must be allocated among assets and liabilities in a manner consistent with the increases and decreases of those assets under the tax law applicable to the acquiring Constituent Entity. For example, if the Constituent Entity is required by local tax rules to allocate the basis increases due to the tax gain, first to depreciable assets up to the amount of built-in gain on such assets, and then to inventory and other current assets, the Constituent Entity must do the same for GloBE purposes. However, the increase or decrease in carrying value of assets and liabilities for GloBE purposes cannot exceed the Non-qualifying Gain or Loss. The computation of a Constituent Entity’s Total Deferred Tax Adjustment Amount

for the Fiscal Year and subsequent Fiscal Years in relation to assets and/or liabilities to which Article 6.3.3 applies must similarly be calculated based on their carrying value for GloBE purposes. The GloBE carrying value of the assets and liabilities at the end of the Fiscal Year and subsequent Fiscal Years is determined by applying the relevant accounting standard to the GloBE carrying value initially determined under Article 6.3.3. This would exclude any deferred tax asset or deferred tax liability from the GloBE calculations on acquisition to the extent the GloBE and tax carrying values of the asset or liability are aligned.

46. The following text in bold will be inserted in paragraph 81 of the Commentary to Article 6.3.4: 81. Pursuant to paragraph (b), the Constituent Entity will use the fair value of the assets and liabilities to compute its GloBE Income or Loss in the Fiscal Years ending after the triggering event. The fair value to be used is the fair value of the assets determined pursuant to the financial accounting standard used in the Consolidated Financial Statements. The computation of a

Constituent Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year and subsequent Fiscal Years in relation to assets and/or liabilities to which Article 6.3.4 applies must similarly be calculated based on their carrying value for GloBE purposes. The GloBE carrying value of the assets and liabilities at the end of the Fiscal Year and subsequent Fiscal Years is determined by applying the relevant accounting standard to the GloBE carrying value initially determined under Article 6.3.4.

81.1. In the Fiscal Year that the election is made, any deferred tax assets and deferred tax liabilities of the Constituent Entity that existed prior to the triggering event must be fully reversed and included in Constituent Entity’s Total Deferred Tax Adjustment Amount. Accrual of deferred tax amounts for accounting purposes as a result of the tax basis of the Constituent Entity’s assets and liabilities being reset to fair value for tax purposes must be excluded from the Constituent Entity’s Total Deferred Tax Adjustment Amount because the computation of a Constituent Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year and subsequent Fiscal Years in relation to assets and/or liabilities to which Article 6.3.4 applies should be recalculated based on their carrying value for GloBE purposes as noted in paragraph 81. 47. The following text in strikethrough will be removed from paragraph 6 of the Commentary to Article 9.1.1 and the following text in bold will be inserted in paragraph 6, and additional paragraphs inserted after paragraph 6 of the Commentary to Article 9.1.1: 6. Article 9.1.1 provides the basis to use these attributes in determination of Covered Taxes pursuant to Article 4.4. Therefore, when a pre-existing deferred tax attribute is used for financial

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45. The following text in bold will be inserted in paragraph 77 of the Commentary to Article 6.3.3: reporting purposes in a Fiscal Year in which the GloBE Rules apply, such attribute is available for

use in the application of Article 4.4, subject to the limitations of Article 9.1. For example, if a 77. In the context of such GloBE Reorganisations, Article 6.3.3 provides that the disposing

Constituent Entity incurred a tax loss of 100 in a year before the GloBE Rules applied, a deferred Constituent Entity will include a gain or loss to the extent of the Non-Qualifying Gain or Loss. This

tax expense of 15 (i.e. deferred tax benefit) will be included in the Total Deferred Tax Adjustment means that the computation of GloBE Income or Loss will include the lesser of the amount of gain

Amount under Article 4.4 when the associated tax loss is used in a Fiscal Year in which the GloBE or loss reflected in the financial accounts or the amount of the taxable gain or loss arising from the

applies. The GloBE Implementation Framework will consider providing Agreed Administrative GloBE Reorganisation. Further, the acquiring Constituent Entity will increase or decrease the

Guidance related to the measurement and treatment of items of deferred tax expense (i.e. deferred carrying amounts of the acquired assets and liabilities to account for the Non-qualifying Gain or

tax assets and deferred tax liabilities) in the Transition Year and subsequent years. Loss. The changes in carrying value for GloBE purposes must be allocated among assets and

liabilities in a manner consistent with the increases and decreases of those assets under the tax 6.0.1. Article 9.1.3 and Article 6.2.1(c) apply to assets and liabilities that were acquired after

law applicable to the acquiring Constituent Entity. For example, if the Constituent Entity is required 30 November 2021 and prior to the Transition Year. In such cases, the pre-existing deferred tax

by local tax rules to allocate the basis increases due to the tax gain, first to depreciable assets up assets or liabilities based on the historic carrying value of the relevant assets or liabilities will be

to the amount of built-in gain on such assets, and then to inventory and other current assets, the relevant for the purposes of Article 9.1.1, rather than any deferred tax assets or liabilities

Constituent Entity must do the same for GloBE purposes. However, the increase or decrease in determined based on the acquiring Entity’s accounting carrying value of the assets or liabilities.

carrying value of assets and liabilities for GloBE purposes cannot exceed the Non-qualifying Gain The carrying value for determining the amount of any deferred tax assets or liabilities for the

or Loss. The computation of a Constituent Entity’s Total Deferred Tax Adjustment Amount purposes of Article 9.1.1 may be modified by Article 9.1.3.

for the Fiscal Year and subsequent Fiscal Years in relation to assets and/or liabilities to

6.0.2. For example, ABC Group sold all the shares of C Co to DEF Group for EUR 200 on

which Article 6.3.3 applies must similarly be calculated based on their carrying value for

1 January 2021. C Co owns a single asset, which had a carrying value of EUR 100 at the time of

GloBE purposes. The GloBE carrying value of the assets and liabilities at the end of the

sale, as recorded for ABC Group’s Consolidated Financial Statements. C Co is subject to a

Fiscal Year and subsequent Fiscal Years is determined by applying the relevant accounting

corporate tax rate of 15%, and the tax basis of the asset is also EUR 100. According to the

standard to the GloBE carrying value initially determined under Article 6.3.3. This would

accounting standard applicable to DEF Group’s Consolidated Financial Statements, the

exclude any deferred tax asset or deferred tax liability from the GloBE calculations on

acquisition of C Co’s shares constitutes a business combination. The entire purchase price is

acquisition to the extent the GloBE and tax carrying values of the asset or liability are

attributed to the fair value of the asset. In C Co’s financial statements, in accordance with relevant

aligned.

financial accounting standard that permits push down accounting, the asset is recognised with an

46. The following text in bold will be inserted in paragraph 81 of the Commentary to Article 6.3.4: accounting carrying value of EUR 200 and is subject to amortisation over a 10-year period for tax

and accounting purposes. Given the tax basis of the asset is 100, for simplicity this example 81. Pursuant to paragraph (b), the Constituent Entity will use the fair value of the assets and

assumes that C Co has a deferred tax liability of EUR 15 recorded in its accounts related to the liabilities to compute its GloBE Income or Loss in the Fiscal Years ending after the triggering event.

asset. Article 6.2.1(c) applies to this transaction, leading to a GloBE carrying value for the asset of The fair value to be used is the fair value of the assets determined pursuant to the financial

EUR 100. Because the GloBE carrying value and the tax carrying value are equal, A Co has no accounting standard used in the Consolidated Financial Statements. The computation of a

deferred tax expense in relation to the asset for GloBE purposes. C Co becomes subject to the

Constituent Entity’s Total Deferred Tax Adjustment Amount for the Fiscal Year and

GloBE Rules on 1 January 2024. At the start of the Transition Year, C Co’s accounting carrying

subsequent Fiscal Years in relation to assets and/or liabilities to which Article 6.3.4 applies

value of the asset is EUR 140 due to amortisation, while the tax basis is EUR 70. Consequently,

must similarly be calculated based on their carrying value for GloBE purposes. The GloBE

C Co has a deferred tax liability of EUR 10.5 recorded in its financial accounts in relation to the

carrying value of the assets and liabilities at the end of the Fiscal Year and subsequent

asset. However, for the purposes of Article 9.1.1, since the GloBE carrying value of the asset is

Fiscal Years is determined by applying the relevant accounting standard to the GloBE

EUR 70 (because of the effect of Article 6.2.1(c), no deferred tax asset or liability is considered for

carrying value initially determined under Article 6.3.4.

GloBE purposes. C Co will continue to apply the relevant accounting standard to the GloBE

81.1. In the Fiscal Year that the election is made, any deferred tax assets and deferred tax carrying value when determining the amortisation expense included in its GloBE Income or Loss.

liabilities of the Constituent Entity that existed prior to the triggering event must be fully reversed Additionally, any deferred tax expense related to the asset will be considered for determining C

and included in Constituent Entity’s Total Deferred Tax Adjustment Amount. Accrual of deferred Co’s Adjusted Covered Taxes for the Transition Year and future Fiscal Years.

tax amounts for accounting purposes as a result of the tax basis of the Constituent Entity’s assets

6.0.3. To further illustrate, assume the same facts as the example above, except that upon and liabilities being reset to fair value for tax purposes must be excluded from the Constituent

acquisition, the local tax laws stipulate that the tax basis of the asset is stepped up to EUR 200. Entity’s Total Deferred Tax Adjustment Amount because the computation of a Constituent Entity’s

As the carrying value of the asset in the financial accounts of C Co determined in accordance with Total Deferred Tax Adjustment Amount for the Fiscal Year and subsequent Fiscal Years in relation

an Acceptable Financial Accounting Standard that permits push down accounting is EUR 200 and to assets and/or liabilities to which Article 6.3.4 applies should be recalculated based on their

the asset’s tax basis is also EUR 200, no deferred tax expense is recorded in C Co’s financial carrying value for GloBE purposes as noted in paragraph 81.

accounts. However, as the GloBE carrying value of the asset is EUR 100 due to the application of

47. The following text in strikethrough will be removed from paragraph 6 of the Commentary to Article 6.2.1(c), C Co will include a deferred tax asset of EUR 15 for GloBE purposes based on the

Article 9.1.1 and the following text in bold will be inserted in paragraph 6, and additional paragraphs difference between the tax basis (EUR 200) and the GloBE carrying value (EUR 100). C Co

inserted after paragraph 6 of the Commentary to Article 9.1.1: becomes subject to the GloBE Rules on 1 January 2024. At the start of the Transition Year, C Co’s

accounting carrying value and tax basis of the asset is EUR 140. Consequently, C Co continues 6. Article 9.1.1 provides the basis to use these attributes in determination of Covered Taxes

to have no deferred tax expense recorded in its financial accounts in relation to the asset. However, pursuant to Article 4.4. Therefore, when a pre-existing deferred tax attribute is used for financial

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for the purposes of Article 9.1.1, since the GloBE carrying value of the asset is EUR 70, a deferred tax asset of EUR 10.5 will be recognised for GloBE purposes under Article 9.1.1 and will be used in the computation of Adjusted Covered Taxes in the Transition Year and future Fiscal Years. C Co will continue to apply the relevant accounting standard to the GloBE carrying value when determining the amortisation expense included in its GloBE Income or Loss. Additionally, the deferred tax asset for GloBE purposes related to the asset will be considered for determining C Co’s Adjusted Covered Taxes for the Transition Year and future Fiscal Years.

48. The following text in bold will be inserted in paragraph 10.1 of the Commentary to Article 9.1.3: 10.1. Article 9.1.3 provides a limitation on intra-group asset transfers before applicability of the GloBE Rules. Article 9.1.3 applies when an asset (other than inventory) is transferred between Entities after 30 November 2021 and before commencement of the Transition Year of an MNE Group if such Entities would have been Constituent Entities of that MNE Group had the GloBE Rules been in effect with respect to that MNE Group immediately before the transfer. When Article 9.1.3 applies, the acquiring Entity must treat the asset for purposes of the GloBE Rules as acquired for an amount equal to the carrying value in the hands of the disposing Entity upon disposition. That carrying value of the asset can easily be determined because the gain (or loss) on the intragroup transfer must be eliminated in the Consolidated Financial Statements. Thereafter, the acquiring Entity’s carrying value of the asset may be increased by capitalised expenditures or decreased by amortization or depreciation in accordance with the accounting standard used in the UPE’s Consolidated Financial Statements. The carrying value used for GloBE purposes beginning in the Transition Year is the carrying value upon disposition of the transferred asset on the day of transfer adjusted for capital expenditures, amortization or depreciation after the transaction and before the beginning of the Transition Year. Any increased depreciation or amortization, if any, attributable to recording the asset at fair value in the financial accounts of the acquiring Entity must be excluded from the computation of its GloBE Income or Loss. Similarly, gain or loss from a subsequent sale of the asset shall be determined for GloBE purposes based on its carrying value determined under Article 9.1.3. The rule in Article 9.1.3, however, does not apply to inventory because of the routine nature of intragroup inventory sales and the typically brief period that it is held before sale outside the MNE Group. Further, where an acquiring Constituent Entity uses

its own accounting carrying value of an asset or liability as provided under paragraph 10.9 below, no deferred tax asset is created under Article 9.1.3.

49. The following text in bold will be inserted in paragraph 10.7 of the Commentary to Article 9.1.3: 10.7. The purpose of Article 9.1.3 is to limit the ability to step-up the carrying value in the MNE Group’s assets for GloBE purposes in an intragroup transaction without including the corresponding gain in the computation of GloBE Income or Loss. Some MNE Groups account for intra-group transactions by treating the acquiring Entity as having acquired the asset at the transferring Entity’s carrying value upon disposition and create a deferred tax asset based on the difference between the tax basis of the asset and the acquiring Entity’s carrying value and the tax rate in the acquiring Entity’s jurisdiction. If the MNE Group were allowed to take into account a deferred tax asset created in connection with the intragroup sale, it would, in combination with the financial accounting carrying value upon disposition, affect the applicability of the GloBE Rules in much the same way as allowing the step-up in carrying value of the asset for GloBE purposes. The step-up in carrying value would essentially eliminate an amount of income equal to the stepup from the acquiring Constituent Entity’s GloBE Income or Loss computation usually either at the time of a subsequent sale by the acquiring Constituent Entity’s or over the asset’s depreciation or amortization period. The carrying value upon disposition preserves that income in the GloBE income or Loss computation, but the corresponding deferred tax asset amount would be included in the Covered Taxes and, in effect, would shield that same amount of income from Top-up Tax. This result would be inconsistent with the policy and purpose of Article 9.1.3. Accordingly, when

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for the purposes of Article 9.1.1, since the GloBE carrying value of the asset is EUR 70, a deferred Article 9.1.3 applies, the deferred tax assets or liabilities with respect to the transferred assets, if

tax asset of EUR 10.5 will be recognised for GloBE purposes under Article 9.1.1 and will be used any, that are recognised at the beginning of the Transition Year are those that existed in the

in the computation of Adjusted Covered Taxes in the Transition Year and future Fiscal Years. C Co financial accounts of the MNE Group prior to the transaction that triggered application of

will continue to apply the relevant accounting standard to the GloBE carrying value when Article 9.1.3, adjusted as appropriate for subsequent capitalised expenditures, amortization, and

determining the amortisation expense included in its GloBE Income or Loss. Additionally, the depreciation and further adjusted to the Minimum Rate if necessary pursuant to Article 9.1.1. The

deferred tax asset for GloBE purposes related to the asset will be considered for determining creation of a deferred tax asset under this paragraph shall not reduce the Adjusted Covered C Co’s Adjusted Covered Taxes for the Transition Year and future Fiscal Years. Taxes of the acquiring Constituent Entity. Any deferred tax asset or liability arising in the MNE

Group’s financial accounts as a result of the transaction is ignored under the GloBE Rules, except 48. The following text in bold will be inserted in paragraph 10.1 of the Commentary to Article 9.1.3:

as provided in paragraph 10.8. 10.1. Article 9.1.3 provides a limitation on intra-group asset transfers before applicability of the

50. The text in bold will be substituted for the text in paragraphs 10.8 and the existing text of paragraph GloBE Rules. Article 9.1.3 applies when an asset (other than inventory) is transferred between

10.8 will be moved to paragraphs 10.8.1 through 10.8.3 with the language in bold added: Entities after 30 November 2021 and before commencement of the Transition Year of an MNE

Group if such Entities would have been Constituent Entities of that MNE Group had the GloBE 10.8. As noted above in paragraph 10.1, the main purpose of Article 9.1.3 is to prevent Rules been in effect with respect to that MNE Group immediately before the transfer. When Article MNE Group’s transferring assets in the run-up to the Transition Year without paying tax on

9.1.3 applies, the acquiring Entity must treat the asset for purposes of the GloBE Rules as acquired the full amount of the disposing Entity’s built-in gain and then avoiding tax under the GloBE

for an amount equal to the carrying value in the hands of the disposing Entity upon disposition. Rules or a QDMTT on that gain because the asset takes a carrying value equal to its fair

That carrying value of the asset can easily be determined because the gain (or loss) on the intra- value or the accounting standard provides a deferred tax asset that produces the same or

group transfer must be eliminated in the Consolidated Financial Statements. Thereafter, the similar effect. However, where the MNE Group has paid tax on the built-in gain on the acquiring Entity’s carrying value of the asset may be increased by capitalised expenditures or transfer, there is less risk that the transaction was conducted for tax avoidance reasons.

decreased by amortization or depreciation in accordance with the accounting standard used in the The Inclusive Framework has agreed that it is appropriate to allow a deferred tax asset UPE’s Consolidated Financial Statements. The carrying value used for GloBE purposes beginning solely for GloBE purposes to the extent that the MNE Group can demonstrate that tax was

in the Transition Year is the carrying value upon disposition of the transferred asset on the day of paid in respect of gain on the intra-group transfer.

transfer adjusted for capital expenditures, amortization or depreciation after the transaction and

10.8.1. Accordingly, in a transfer to which Article 9.1.3 applies, the acquiring Entity may take into before the beginning of the Transition Year. Any increased depreciation or amortization, if any,

account a deferred tax asset to the extent of tax paid in respect of the transfer and to the extent of attributable to recording the asset at fair value in the financial accounts of the acquiring Entity must

any deferred tax asset that would have been taken into account under Article 9.1.1 but was be excluded from the computation of its GloBE Income or Loss. Similarly, gain or loss from a

reversed or was not created by the disposing Entity (Other Tax Effects) because gain from the subsequent sale of the asset shall be determined for GloBE purposes based on its carrying value

disposition was included in the taxable income of the disposing Entity. If there is a group taxation determined under Article 9.1.3. The rule in Article 9.1.3, however, does not apply to inventory

regime applicable to the disposing Entity, this paragraph shall be applied by reference to the taxes because of the routine nature of intragroup inventory sales and the typically brief period that it is

paid by the group and Other Tax Effects on the group under the group taxation regime. This held before sale outside the MNE Group. Further, where an acquiring Constituent Entity uses

paragraph may also be applied in respect of any Covered Taxes that are attributable to the

its own accounting carrying value of an asset or liability as provided under paragraph 10.9

transaction and that would have been allocated to the disposing Entity under the principles of

below, no deferred tax asset is created under Article 9.1.3.

Article 4.3. The MNE Group has the burden of proving:

49. The following text in bold will be inserted in paragraph 10.7 of the Commentary to Article 9.1.3:

a. the amount of tax paid in respect of the transaction;

10.7. The purpose of Article 9.1.3 is to limit the ability to step-up the carrying value in the MNE

b. the amount of any Other Tax Effects; and Group’s assets for GloBE purposes in an intragroup transaction without including the

corresponding gain in the computation of GloBE Income or Loss. Some MNE Groups account for c. the amount of any Covered Taxes that are attributable to the transfer and that

intra-group transactions by treating the acquiring Entity as having acquired the asset at the would have been allocated to the disposing Entity under Article 4.3. transferring Entity’s carrying value upon disposition and create a deferred tax asset based on the

10.8.2. The deferred tax asset for GloBE purposes will arise regardless of whether a difference between the tax basis of the asset and the acquiring Entity’s carrying value and the tax

deferred tax asset would be recognised by the acquiring Constituent Entity under the

rate in the acquiring Entity’s jurisdiction. If the MNE Group were allowed to take into account a

relevant accounting standard. The amount of the deferred tax asset for GloBE purposes

deferred tax asset created in connection with the intragroup sale, it would, in combination with the

shall be determined without reference to a deferred tax asset that would otherwise have

financial accounting carrying value upon disposition, affect the applicability of the GloBE Rules in

been recognised by the acquiring Constituent Entity in the absence of Article 9.1.3.

much the same way as allowing the step-up in carrying value of the asset for GloBE purposes.

However, a deferred tax asset created under this rule shall not exceed the Minimum Rate The step-up in carrying value would essentially eliminate an amount of income equal to the step-

multiplied by the difference in the local tax basis in the asset and the GloBE carrying value of the up from the acquiring Constituent Entity’s GloBE Income or Loss computation usually either at the

asset determined under Article 9.1.3. time of a subsequent sale by the acquiring Constituent Entity’s or over the asset’s depreciation or

amortization period. The carrying value upon disposition preserves that income in the GloBE 10.8.3. The deferred tax asset for GloBE purposes shall be taken into account in determining the income or Loss computation, but the corresponding deferred tax asset amount would be included acquiring Constituent Entity’s Adjusted Covered Taxes instead of any deferred tax asset that was

in the Covered Taxes and, in effect, would shield that same amount of income from Top-up Tax. created in respect of the acquired asset under the relevant accounting standard. The creation of a

This result would be inconsistent with the policy and purpose of Article 9.1.3. Accordingly, when deferred tax asset under this paragraph shall not reduce the Adjusted Covered Taxes of an

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acquiring Constituent Entity where the acquiring Constituent Entity is subject to the GloBE Rules. This deferred tax asset is adjusted annually in proportion to any decrease in the carrying value of the asset for the year, for example due to depreciation, amortization, or impairment. See Examples 9.1.3-1 through 9.1.3-6.

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acquiring Constituent Entity where the acquiring Constituent Entity is subject to the GloBE Rules. This deferred tax asset is adjusted annually in proportion to any decrease in the carrying value of the asset for the year, for example due to depreciation, amortization, or impairment. See Examples 9.1.3-1 through 9.1.3-6.

Allocation of Cross-border Current

3.

Taxes

3.1¶Principles for allocating cross-border, current taxes under a cross-crediting corporate tax system

3.1.1¶Introduction

1. The GloBE Rules operate by allocating Covered Taxes to the GloBE Income with respect to which they were accrued. Under Article 4.3.2(a), Covered Taxes included in the accounts of a Main Entity which are with respect to GloBE Income or Loss of a Permanent Establishment are to be allocated to that Permanent Establishment. Taxable branch regimes generally mitigate double taxation by giving a credit for taxes paid to the PE’s jurisdiction. Thus, the Covered Taxes allocated under Article 4.3.2(a) will often be the residual tax due after tax credits. 2. Corporate tax systems vary in how they treat foreign source income. Some such systems allow for ‘cross-crediting’ of foreign taxes. In these cases, taxes paid with respect to one source of income arising in one jurisdiction give rise to foreign tax credits which can be used against another source of income arising in another jurisdiction. For example, taxes paid with respect to one Permanent Establishment may give rise to tax credits for the Main Entity which can be used against the income included from a different Permanent Establishment. Cross-crediting tax regimes generally have a limitation to prevent foreign tax credits from being used to offset domestic taxes on domestic source income. 3. Where the corporate tax system applicable to the Main Entity allows for the cross-crediting of taxes, a methodology is required to determine whether (and how much) of the Main Entity’s Covered Tax has been accrued with respect to the GloBE Income of each Permanent Establishment. Paragraph 52 of the Commentary to Article 4.3.2 sets out a mechanism for determining the allocation of Covered Taxes to a Permanent Establishment under a cross-crediting system. The process seeks to take into account both the taxes accrued by the relevant Permanent Establishment as well as ‘an appropriate amount’ of excess creditable taxes accrued with respect to other income which can be cross-credited under the domestic tax regime. It states:

The appropriate amount of excess creditable taxes should be determined by allocating the total

amount of excess creditable taxes among PE inclusions based on the relative residual tax liability

due to each PE inclusion taking into account only creditable taxes paid by that PE (i.e. the liability

after the credit for taxes paid by the PE but before excess credits are allocated).

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4. Cross-crediting domestic tax systems may also create separate ‘categories’ or ‘baskets’ of income. In such cases, cross-crediting may be allowed within a particular category or basket of income but not between different categories or baskets of income. For example, a jurisdiction could create a separate category for passive income such that cross-crediting is allowed between different foreign sources of passive income but cross-crediting is not allowed between passive income and non-passive income. The Commentary to the GloBE Rules does not set out in detail how to allocate taxes between different categories or baskets of income. 5. It is important that a consistent mechanism is used to allocate such taxes to prevent cases in which double taxation or double non-taxation could arise. 6. Similar issues arise with respect to CFC Taxes (Article 4.3.2(c)) as well as taxes on Hybrid Entities or Reverse Hybrid Entities (Article 4.3.2(d)). The Administrative Guidance of February 2023 also contained a temporary rule with respect to the allocation of Blended CFC Taxes. This document sets out a methodology for allocating cross-border, current taxes, other than taxes arising under a Blended CFC Tax Regime which are covered by the Administrative Guidance of February 2023. This allocation mechanism is directly relevant to the application of Article 4.3.2(a), (c), (d) and (e).

3.1.2¶Issues to be considered

7. Stakeholders have asked whether further guidance could be provided regarding how to allocate taxes from a Main Entity to the various Permanent Establishments under a cross-crediting system including cross-crediting systems which only allow cross-crediting between specific categories or ‘baskets’ of income. Similarly, stakeholders have asked whether further guidance could be provided to allocate taxes under a CFC Tax or taxes on Hybrid Entities or Reverse Hybrid Entities.

3.1.3¶Guidance

8. The GloBE Rules allocate Covered Taxes of a Main Entity to a Permanent Establishment to the extent that those Covered Taxes have been accrued with respect to the GloBE Income of the Permanent Establishment. Where the Main Entity’s domestic tax system blends together the income of multiple Permanent Establishments, a mechanism is required for determining the extent to which the relevant taxes are to be allocated to one Permanent Establishment or another Permanent Establishment. Where the tax system also blends such income with foreign source income of the Main Entity, the mechanism must also determine the extent to which the taxes are accrued with respect to the GloBE Income of Permanent Establishments and thus are allocable to Permanent Establishments at all, as opposed to remaining with the Main Entity.

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4. Cross-crediting domestic tax systems may also create separate ‘categories’ or ‘baskets’ of income. 9. The general purpose of the allocation mechanism is to match Covered Taxes to the GloBE Income

In such cases, cross-crediting may be allowed within a particular category or basket of income but not with respect to which they were accrued. In particular, this allocation mechanism applies in the case of between different categories or baskets of income. For example, a jurisdiction could create a separate current cross-credited taxes that must be allocated between a Main Entity and its Permanent category for passive income such that cross-crediting is allowed between different foreign sources of Establishments or a Parent Entity and its CFCs, Hybrid Entities or Reverse Hybrid Entities when the income passive income but cross-crediting is not allowed between passive income and non-passive income. The of such CFC, Hybrid Entity or Reverse Hybrid Entity is included in the taxable income of the Parent Entity. Commentary to the GloBE Rules does not set out in detail how to allocate taxes between different In some cases, the current cross-credited taxes may need to be further allocated between a CFC and its categories or baskets of income. Permanent Establishments, Hybrid Entities or Reverse Hybrid Entities. It is designed to provide a common

and simplified methodology for allocating cross-credited taxes to Constituent Entities. The mechanism 5. It is important that a consistent mechanism is used to allocate such taxes to prevent cases in which

seeks to allocate the current tax expense determined after taking into account foreign tax credits allowed. double taxation or double non-taxation could arise.

The allocation mechanism of cross-border deferred taxes is outlined in the Administrative Guidance on 6. Similar issues arise with respect to CFC Taxes (Article 4.3.2(c)) as well as taxes on Hybrid Entities cross-border deferred tax allocations. Under a system that only allows credit for taxes accrued by the or Reverse Hybrid Entities (Article 4.3.2(d)). The Administrative Guidance of February 2023 also contained specific PE, the tentative tax determined based on the income can be simply reduced by the credit allowed a temporary rule with respect to the allocation of Blended CFC Taxes. This document sets out a and allocated to the PE. Where foreign taxes are cross-credited under the domestic tax system, a methodology for allocating cross-border, current taxes, other than taxes arising under a Blended CFC Tax mechanism is necessary to allocate Covered Taxes between the Main Entity and its PEs. To the extent Regime which are covered by the Administrative Guidance of February 2023. This allocation mechanism that foreign taxes are cross-credited under the domestic tax system only within a particular category or is directly relevant to the application of Article 4.3.2(a), (c), (d) and (e). categories of income, the mechanism is to be applied separately to each such category of income.

10. The allocation mechanism is a four-step process for allocating current taxes which have been

3.1.2¶Issues to be considered

accrued under a tax system which ‘blends’ together income from multiple sources and allows the cross-

crediting of tax credits within the relevant category of income. The primary purpose of this allocation 7. Stakeholders have asked whether further guidance could be provided regarding how to allocate

mechanism is to allocate taxes from one Constituent Entity to another under Article 4.3.2. However, it will taxes from a Main Entity to the various Permanent Establishments under a cross-crediting system including

also determine any amount of current Covered Taxes accrued with respect to the income of a noncross-crediting systems which only allow cross-crediting between specific categories or ‘baskets’ of

Constituent Entity, which would generally be excluded entirely from the Adjusted Covered Taxes of the income. Similarly, stakeholders have asked whether further guidance could be provided to allocate taxes

Main Entity/Parent Entity under Article 4.1.3(a). The four-step allocation mechanism is intended to be under a CFC Tax or taxes on Hybrid Entities or Reverse Hybrid Entities.

sufficiently flexible so as to accommodate differing treatments of foreign source income under various

corporate tax systems.

3.1.3¶Guidance

11. Under the first step of the allocation mechanism, the phrase ‘foreign source income’ refers to 8. The GloBE Rules allocate Covered Taxes of a Main Entity to a Permanent Establishment to the

income of domestic entities to the extent the Main Entity/Parent Entity jurisdiction considers the income to extent that those Covered Taxes have been accrued with respect to the GloBE Income of the Permanent

be from foreign sources for purposes of determining the extent to which a foreign tax credit is allowed. In Establishment. Where the Main Entity’s domestic tax system blends together the income of multiple

addition to income of the Permanent Establishments of the Main Entity, this may include income of a CFC, Permanent Establishments, a mechanism is required for determining the extent to which the relevant taxes

Hybrid Entity or Reverse Hybrid Entity that is included in the taxable income of the Main Entity under the are to be allocated to one Permanent Establishment or another Permanent Establishment. Where the tax

domestic tax system, as well as other income received by the Main Entity from foreign sources, such as system also blends such income with foreign source income of the Main Entity, the mechanism must also

certain dividends, royalties, and interests. determine the extent to which the taxes are accrued with respect to the GloBE Income of Permanent Establishments and thus are allocable to Permanent Establishments at all, as opposed to remaining with the Main Entity.

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12. Foreign source income is the net amount which is included in the taxable income of the Main Entity/Parent Entity. As a net concept, it is necessary to determine what expenses are taken into account. Where the domestic tax regime requires the Main Entity/Parent Entity to include the Permanent Establishment’s net income into its taxable income, this will implicitly allocate expenses and therefore the included amount is the foreign source income. In other cases, it will be necessary to allocate expenses of the Main Entity/Parent Entity to the Permanent Establishment, foreign Hybrid Entity or foreign Reverse Hybrid Entity in order to determine the foreign source income of that Permanent Establishment or Entity. In these cases, only the expenses which are taken into account in determining the GloBE Income or Loss of the Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity are taken into account. For example, consider a Parent Entity with two foreign Hybrid Entities (A Co and B Co) which are subject to a cross-crediting regime. The Parent Entity has 1000 of interest expense of which 400 is allocated to a basket of income which includes the two Hybrid Entities and under the domestic law of the Parent Entity jurisdiction which determines the Parent Entity’s foreign tax credit limitation. Of this 400 in interest expense, 100 is recognised as an expense of A Co for the purpose of calculating A Co’s GloBE Income or Loss. The other 300 is not recognised as an expense in calculating the GloBE Income or Loss of A Co or B Co. For the purposes of step one of the cross-crediting regime, A Co’s foreign source income takes into account 100 of this interest expense (that is, A Co’s foreign source income is reduced by 100). There is no adjustment for the remaining interest expense. 13. In some cases, expenses are only allocated to a ‘basket’ of income. Allocating such expenses to individual Permanent Establishments and Entities would involve significant compliance costs. These expenses are only allocated in determining the foreign source income under the first step to the extent that the relevant expenditure is taken into account as an expense in calculating the GloBE Income or Loss of the relevant Permanent Establishment or Entity. However, such expenses do reduce the Allocable Covered Taxes under Step Two even if they are not taken into account under Step One. This is set out in further detail below. 14. Foreign source income is adjusted where the domestic tax system includes an offsetting deduction which is calculated directly by reference to that income. For example, if the Main Entity/Parent Entity must include an amount in its taxable income but is also entitled to a deduction equal to 40% of the amount included, only the net amount (that is, 60% of the total amount) will be considered to have been included in the Main Entity/Parent Entity’s taxable income.

15. One of the simplest cases of a cross-crediting tax regime is where the relevant domestic tax regime in the Main Entity jurisdiction applies cross-crediting only to the income of foreign Permanent Establishments and the foreign source income derived directly by the Main Entity itself (and not through a Permanent Establishment). 16. In such a case, the first step is to determine the amount of each Permanent Establishment’s income which has been included in the taxable income of the Main Entity. It is also necessary to determine the amount of foreign source income of the Main Entity itself. 17. The second step is to calculate the total ‘Allocable Covered Taxes’. This step seeks to calculate the total Covered Taxes which are to be allocated between the various Permanent Establishments and the Main Entity’s foreign source income. Allocable Covered Taxes are determined by the formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 = 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 −𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

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12. Foreign source income is the net amount which is included in the taxable income of the Main 18. This formula determines the positive amount (if any) of the total tax accrued in current tax expense Entity/Parent Entity. As a net concept, it is necessary to determine what expenses are taken into account. of the Main Entity under the applicable tax regime which is attributable to foreign source income arising Where the domestic tax regime requires the Main Entity/Parent Entity to include the Permanent both directly (that is, as income of the Main Entity itself) and from its Permanent Establishments. This is Establishment’s net income into its taxable income, this will implicitly allocate expenses and therefore the achieved by subtracting from the total current tax accrued the amount which would have been accrued in included amount is the foreign source income. In other cases, it will be necessary to allocate expenses of the absence of any foreign source income and foreign tax attributes as well as any amounts of Blended the Main Entity/Parent Entity to the Permanent Establishment, foreign Hybrid Entity or foreign Reverse CFC Taxes which have been allocated under paragraphs 58.1 to 58.7 of the Commentary to Article Hybrid Entity in order to determine the foreign source income of that Permanent Establishment or Entity. 4.3.2(c). If the current tax expense is zero or negative, then there is nothing to allocate to the PE under the In these cases, only the expenses which are taken into account in determining the GloBE Income or Loss allocation mechanism. The total current tax expense with respect to the applicable tax regime does not of the Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity are taken into account. For take into account current tax expenses which relate to an uncertain tax position or which is not expected example, consider a Parent Entity with two foreign Hybrid Entities (A Co and B Co) which are subject to a to be paid within three years of the last day of the relevant taxable period. cross-crediting regime. The Parent Entity has 1000 of interest expense of which 400 is allocated to a basket

19. Similarly, by pooling together the current tax accrued with respect to foreign source income, the of income which includes the two Hybrid Entities and under the domestic law of the Parent Entity jurisdiction

allocation mechanism effectively allows for losses arising from one Permanent Establishment to offset the which determines the Parent Entity’s foreign tax credit limitation. Of this 400 in interest expense, 100 is

profits of another. The allocation mechanism does not require calculating the hypothetical amount which recognised as an expense of A Co for the purpose of calculating A Co’s GloBE Income or Loss. The other

would have been accrued by each Permanent Establishment independently of all of the others. The 300 is not recognised as an expense in calculating the GloBE Income or Loss of A Co or B Co. For the

domestic tax liability calculated without regard to any foreign source income cannot be a negative amount. purposes of step one of the cross-crediting regime, A Co’s foreign source income takes into account 100

If there would be no domestic tax liability in the absence of foreign source income, all of the current tax of this interest expense (that is, A Co’s foreign source income is reduced by 100). There is no adjustment

accrued will be attributable to foreign source income. Allocable Covered Taxes cannot exceed the total for the remaining interest expense.

current tax accrued. The total current tax expense accrued by the Main Entity/Parent Entity with respect to 13. In some cases, expenses are only allocated to a ‘basket’ of income. Allocating such expenses to the applicable tax regime refers to the amount of the current tax expense that is paid or accrued for the individual Permanent Establishments and Entities would involve significant compliance costs. These taxable year of the Main Entity with respect to the corporate income tax within which the cross-crediting expenses are only allocated in determining the foreign source income under the first step to the extent that mechanism applies. This does not include current tax expense accrued by the Main Entity/Parent Entity the relevant expenditure is taken into account as an expense in calculating the GloBE Income or Loss of with respect to foreign taxes (regardless of whether or not a foreign tax credit is available). Such source the relevant Permanent Establishment or Entity. However, such expenses do reduce the Allocable taxes are not imposed under the applicable tax regime and they are separately allocated. Covered Taxes under Step Two even if they are not taken into account under Step One. This is set out in

20. Adjustments are required for Qualified Refundable Tax Credits, Marketable Transferable Tax further detail below.

Credits and Qualified Flow-Through Tax Benefits (where the Equity Investment Inclusion Election has been 14. Foreign source income is adjusted where the domestic tax system includes an offsetting deduction made) to the extent that they are not accounted for consistently with their required GloBE treatment. For which is calculated directly by reference to that income. For example, if the Main Entity/Parent Entity must the purposes of the cross-crediting allocation mechanism, these are treated as an increase in the domestic include an amount in its taxable income but is also entitled to a deduction equal to 40% of the amount source income of the Main Entity/Parent Entity and require adjustments to both the total current tax included, only the net amount (that is, 60% of the total amount) will be considered to have been included expense and the hypothetical domestic tax liability calculated without regard to any foreign source income. in the Main Entity/Parent Entity’s taxable income. For example, a Main Entity has domestic source income of 1000 and foreign source income of 1000 under

the Main Entity domestic tax regime. The Main Entity jurisdiction has a 20% tax rate. The Main Entity also 15. One of the simplest cases of a cross-crediting tax regime is where the relevant domestic tax regime

receives 100 in Qualified Refundable Tax Credits under the Main Entity’s domestic tax regime. Accordingly, in the Main Entity jurisdiction applies cross-crediting only to the income of foreign Permanent

it has a domestic tax liability of 300 for the year ((2000 x 20%) - 100). For the purposes of applying the Establishments and the foreign source income derived directly by the Main Entity itself (and not through a

cross-crediting allocation mechanism, the Main Entity is treated as having domestic source income of 1100 Permanent Establishment).

(1000 + 100). Its total current tax expense is 400 (300 + 100) and its domestic tax liability without regard 16. In such a case, the first step is to determine the amount of each Permanent Establishment’s to any foreign source income is 220 (1100 x 20%). income which has been included in the taxable income of the Main Entity. It is also necessary to determine the amount of foreign source income of the Main Entity itself. 17. The second step is to calculate the total ‘Allocable Covered Taxes’. This step seeks to calculate the total Covered Taxes which are to be allocated between the various Permanent Establishments and the Main Entity’s foreign source income. Allocable Covered Taxes are determined by the formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

= 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴

− 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴

−𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

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21. In some cases, the Main Entity/Parent Entity jurisdiction may apply progressive tax rates such that a different tax rate applies depending upon the amount of income earned. If all income is subject to one tax rate where a certain threshold of total income is met, the domestic tax liability without regard to any foreign source income must be calculated by applying the tax rate which in fact applied to the Main Entity/Parent Entity. This amount is not calculated using the rate which would have been applied if the Main Entity/Parent Entity did not have foreign source income. If the progressive tax regime applies different tax rates to different ‘bands’ of income such that one rate is applied to income up to a particular threshold and another rate is applicable beyond that threshold, then the domestic tax liability without regard to any foreign source income must be calculated having allocated a proportionate share of each progressive tax rate band between the various sources of taxable income. For example, a Main Entity Jurisdiction has progressive tax rates such that the first 200 of income is subject to tax at a 10% rate and all subsequent income is subject to tax at a 20% rate. A Main Entity has 100 of domestic source income, 100 of taxable income from PE1 and 200 of taxable income from PE2. As the domestic source income has given rise to 25% of the total taxable income (100/400), it is allocated 25% of each threshold. Accordingly, the Main Entity is treated as having 50 of income subject to tax at 10% rate (200 x 25%) and 50 of income subject to tax at a 20% rate (200 x 25%). As a result, the domestic tax liability calculated without regard to any foreign source income is 15 ((50 x 10%) + (50 x 20%)). 22. The third step is to calculate the Cross-Crediting Allocation Key for each Permanent Establishment as well as for the Main Entity itself. The Cross-Crediting Allocation Key is designed to provide a common and simplified methodology to allocate taxes from a Main Entity to Constituent Entities. The Cross- Crediting Allocation Key is the positive number, if any, resulting from the following formula:

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝑃𝑃𝑃𝑃

= (𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐶𝐶𝑓𝑓 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

′

− 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 / 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

× 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

− c𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

23. The taxable income of the Permanent Establishment is the amount determined in the first step. The applicable tax rate is the tax rate in the Main Entity jurisdiction which is applicable to the taxable income of the Permanent Establishment under the tax regime applicable in the Main Entity jurisdiction. Where multiple taxes are placed on the Main Entity with respect to the income of the Permanent Establishment, the cross-crediting allocation mechanism must be applied separately to each tax. The applicable tax rate does not aggregate tax rates from different tax bases. The creditable foreign taxes accrued with respect to the Permanent Establishment means foreign taxes paid or accrued, including tax paid or accrued under a Qualified Domestic Minimum Top-up Tax, with respect to the Permanent Establishment’s income, but only if the tax meets the definition of a creditable tax under the tax laws of the Main Entity’s jurisdiction. This can include creditable foreign taxes which are imposed by a jurisdiction other than the PE Jurisdiction. For example, a withholding tax paid to a third jurisdiction with respect to income derived by the PE. Similarly, creditable foreign taxes accrued with respect to the foreign source income would generally include taxes paid in the source jurisdiction with respect to foreign source income which is accrued by the Main Entity directly (such as royalty withholding tax). The Cross-Crediting Allocation Key for a Permanent Establishment cannot be negative. If the result of the above formula is negative, the Cross-Crediting Allocation Key for the Permanent Establishment is zero.

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21. In some cases, the Main Entity/Parent Entity jurisdiction may apply progressive tax rates such that 24. A Cross-Crediting Allocation Key is also required for the Main Entity itself. This is to capture the

a different tax rate applies depending upon the amount of income earned. If all income is subject to one fact that current taxes have been accrued with respect to foreign source income which has been earned tax rate where a certain threshold of total income is met, the domestic tax liability without regard to any by the Main Entity directly (that is, not through a Permanent Establishment). The Main Entity’s relevant

foreign source income must be calculated by applying the tax rate which in fact applied to the Main taxable income is that which it derives directly from foreign source income and not through a Permanent

Entity/Parent Entity. This amount is not calculated using the rate which would have been applied if the Establishment or foreign subsidiary (for example, royalty income). The current tax accrued with respect to

Main Entity/Parent Entity did not have foreign source income. If the progressive tax regime applies different this income would include creditable taxes paid or accrued in current tax expense by the Main Entity on tax rates to different ‘bands’ of income such that one rate is applied to income up to a particular threshold this income (for example, royalty withholding tax imposed on the Main Entity but collected and remitted by

and another rate is applicable beyond that threshold, then the domestic tax liability without regard to any the payor).

foreign source income must be calculated having allocated a proportionate share of each progressive tax

25. In some cases, the Main Entity may have multiple types of foreign source income which are rate band between the various sources of taxable income. For example, a Main Entity Jurisdiction has

effectively subject to different tax rates. This could occur because of a partial exemption or a deduction progressive tax rates such that the first 200 of income is subject to tax at a 10% rate and all subsequent

which is linked to the amount of the inclusion in taxable income from that type of income). It could also income is subject to tax at a 20% rate. A Main Entity has 100 of domestic source income, 100 of taxable

occur because different types of income are subject to tax at different rates (despite tax credits being income from PE1 and 200 of taxable income from PE2. As the domestic source income has given rise to

available for cross-crediting between types of income with different tax rates). In such cases, a single 25% of the total taxable income (100/400), it is allocated 25% of each threshold. Accordingly, the Main

Cross-Crediting Allocation Key must be determined for the Main Entity. Where different effective tax rates Entity is treated as having 50 of income subject to tax at 10% rate (200 x 25%) and 50 of income subject

are applied through the use of an exemption or a related deduction, the applicable Cross-Crediting to tax at a 20% rate (200 x 25%). As a result, the domestic tax liability calculated without regard to any

Allocation Key for the Main Entity is given by the formula above. Where there are multiple applicable tax foreign source income is 15 ((50 x 10%) + (50 x 20%)).

rates which apply to different types of income, it is necessary to determine the Main Entity’s pre-foreign

22. The third step is to calculate the Cross-Crediting Allocation Key for each Permanent Establishment tax credit liability arising directly from foreign source income. The Main Entity’s pre-foreign tax credit liability

as well as for the Main Entity itself. The Cross-Crediting Allocation Key is designed to provide a common arising directly from foreign source income is the sum of each type of foreign source income multiplied by

and simplified methodology to allocate taxes from a Main Entity to Constituent Entities. The Cross- the tax rate applicable to that type of income. In such cases, the creditable foreign taxes accrued with

Crediting Allocation Key is the positive number, if any, resulting from the following formula: respect to the foreign source income includes creditable foreign taxes on each such type of income.

26. For example, consider a jurisdiction (Jurisdiction X) which allows for cross-crediting between

different types of foreign source income and applies a tax rate of 10% to Type A income and 20% to Type

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝑃𝑃𝑃𝑃

B income. A Main Entity located in Jurisdiction X has 100 of Type A income which has been subject to 5

= (𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐶𝐶𝑓𝑓 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

′ of creditable withholding tax and 100 of Type B income which has been subject to 15 of creditable

− 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

withholding tax. The Cross-Crediting Allocation Key of the Main Entity in Jurisdiction X is 10 ((100 x 10%)

+ (100 x 20%) – (5 + 15)).

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 / 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 27. By comparison, Jurisdiction Y has a 20% tax rate and a cross-crediting regime which applies to

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 Type A and Type B foreign source income. However, Jurisdiction Y provides a Main Entity with a deduction

× 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) equal to 50% of the amount of Type A Income. Jurisdiction Y does not reduce the available foreign tax

− c𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 credits from Type A Income as a result of this deduction. As above, the Main Entity has 100 of Type A

income (subject to 5 in creditable withholding tax all of which remains creditable despite the related

deduction) and 100 of type B income (subject to 15 of creditable withholding tax). As a result of the directly 23. The taxable income of the Permanent Establishment is the amount determined in the first step. related deduction, the Main Entity has 150 of foreign source income (50 + 100) which is subject to a tax

The applicable tax rate is the tax rate in the Main Entity jurisdiction which is applicable to the taxable rate of 20%. The Cross-Crediting Allocation Key of the Main Entity in Jurisdiction Y is also 10 (((50 + 100) income of the Permanent Establishment under the tax regime applicable in the Main Entity jurisdiction. x 20%) – (5 + 15)).

Where multiple taxes are placed on the Main Entity with respect to the income of the Permanent

28. Where the Main Entity/Parent Entity is subject to a progressive tax rate regime as described in Establishment, the cross-crediting allocation mechanism must be applied separately to each tax. The

paragraph 21, the applicable tax rate for each Permanent Establishment or Entity will be the rate identified applicable tax rate does not aggregate tax rates from different tax bases. The creditable foreign taxes

in that paragraph. If all income is subject to one tax rate where a certain threshold of total income is met, accrued with respect to the Permanent Establishment means foreign taxes paid or accrued, including tax

the applicable tax rate is the rate which was in fact applied to the Main Entity/Parent Entity in determining paid or accrued under a Qualified Domestic Minimum Top-up Tax, with respect to the Permanent

its taxable income. If the progressive tax regime applies different tax rates to different ‘bands’ of income Establishment’s income, but only if the tax meets the definition of a creditable tax under the tax laws of the

such that one rate is applied to income up to a particular threshold and another rate is applicable beyond Main Entity’s jurisdiction. This can include creditable foreign taxes which are imposed by a jurisdiction

that threshold, then the domestic tax liability without regard to any foreign source income must be other than the PE Jurisdiction. For example, a withholding tax paid to a third jurisdiction with respect to

calculated having allocated a proportionate share of each progressive tax rate band between the various income derived by the PE. Similarly, creditable foreign taxes accrued with respect to the foreign source

sources of taxable income. income would generally include taxes paid in the source jurisdiction with respect to foreign source income

which is accrued by the Main Entity directly (such as royalty withholding tax). The Cross-Crediting 29. The fourth step is to determine the allocation to each Permanent Establishment as well as the

Allocation Key for a Permanent Establishment cannot be negative. If the result of the above formula is Main Entity. This is given by the following formula:

negative, the Cross-Crediting Allocation Key for the Permanent Establishment is zero.

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𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 (𝐴𝐴𝑜𝑜 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸) = 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇

𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑒𝑒𝑜𝑜𝑃𝑃𝐴𝐴𝐴𝐴𝑒𝑒𝐴𝐴𝐴𝐴 𝑃𝑃𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇ℎ𝑃𝑃𝑒𝑒𝐴𝐴𝐴𝐴 (𝐴𝐴𝑜𝑜 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸) × ( ).

𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑃𝑃 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇

30. This final step takes the total amount of Allocable Covered Taxes and apportions it between the various Permanent Establishments and the Main Entity in accordance with the Cross-Crediting Allocation Key. These taxes are allocated to the respective Permanent Establishments under Article 4.3.2(a). Taxes which are allocable to the Main Entity will not be reallocated under Article 4.3.2 but they must be taken into account as part of the Cross-Crediting Allocation Key mechanism in order to accurately allocate taxes to the Permanent Establishments.

Domestic source income of foreign Permanent Establishments, CFCs, Hybrid Entities and Reverse Hybrid Entities

31. There may be cases where a Main Entity/Parent Entity is imposing tax on a foreign Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity which is earning income from the Main Entity/Parent Entity jurisdiction. Where this occurs outside the context of a cross-crediting regime, the general principles outlined in paragraphs 46 to 51 of the Administrative Guidance to Article 4.3.2 applies. Where the relevant income is subject to a cross-crediting regime and is treated as foreign source income for the purposes of an applicable foreign tax credit limitation, the income will be treated as foreign source income under the cross-crediting allocation mechanism. Finally, where the income is not treated as foreign source income of the Main Entity/Parent Entity for the purposes of applying the foreign tax credit limitation but is nevertheless included in the GloBE Income of the Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity, that income will be treated as foreign source income for the purposes of the cross-crediting allocation mechanism and all taxes paid with respect to that income are allocated under the cross-crediting allocation mechanism. The amount is treated as forming part of the taxable income of the relevant Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity for the purposes of applying Step 1 of the cross-crediting allocation mechanism. 32. For example, consider a Main Entity (located in Jurisdiction A) that has a Permanent Establishment (located in Jurisdiction B). The Permanent Establishment earns income from transactions with an unrelated entity (X Co) in Jurisdiction A that is included in the Permanent Establishment’s GloBE Income or Loss. Jurisdiction A imposes tax on the Permanent Establishment’s income from transactions with X Co and the income from X Co is not treated as foreign source income for the purposes of calculating the foreign tax credit limitation applicable to Main Entity. In such cases, the PE’s income from transactions with X Co is treated as foreign source income of the Permanent Establishment and the Jurisdiction A taxes paid with respect to that income are allocated under the cross-crediting allocation mechanism.

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𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 (𝐴𝐴𝑜𝑜 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸) 33. Where the Main Entity/Parent Entity jurisdiction has multiple baskets within which its cross-

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 crediting tax regime applies, the domestic source income will be allocated to the basket to which foreign

𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑒𝑒𝑜𝑜𝑃𝑃𝐴𝐴𝐴𝐴𝑒𝑒𝐴𝐴𝐴𝐴 𝑃𝑃𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇ℎ𝑃𝑃𝑒𝑒𝐴𝐴𝐴𝐴 (𝐴𝐴𝑜𝑜 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸) taxes on that income are allocated. If the domestic tax regime of the Main Entity/Parent Entity does not

× ( ).

𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑃𝑃 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇 provide foreign tax credits on domestic source income, the domestic source income will be allocated to the

same basket to which foreign taxes are (or would be) allocated if the income had been foreign source

income of the same type under the Main Entity/Parent Entity jurisdiction’s law. For example, a Parent Entity 30. This final step takes the total amount of Allocable Covered Taxes and apportions it between the jurisdiction allows for cross-crediting within two separate baskets – active source income (Basket A) and various Permanent Establishments and the Main Entity in accordance with the Cross-Crediting Allocation passive foreign source income (Basket B). A foreign Hybrid Entity earns passive income from a third party Key. These taxes are allocated to the respective Permanent Establishments under Article 4.3.2(a). Taxes in the Parent Entity Jurisdiction on which no foreign tax credit is allowable under the Parent Entity’s which are allocable to the Main Entity will not be reallocated under Article 4.3.2 but they must be taken into domestic tax regime. This income is treated as domestic source income for the purposes of the foreign tax account as part of the Cross-Crediting Allocation Key mechanism in order to accurately allocate taxes to credit limitation. In this case, the rule would determine that the passive income from the third party in the the Permanent Establishments. Parent Entity Jurisdiction was treated as foreign source income allocated to Basket B. This is because if

that type of income (passive income) had been earned from foreign sources, any creditable taxes paid with

Domestic source income of foreign Permanent Establishments, CFCs, Hybrid Entities respect to it would have been allocated to Basket B. and Reverse Hybrid Entities Cross-crediting between permanent establishments and taxable distributions

31. There may be cases where a Main Entity/Parent Entity is imposing tax on a foreign Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity which is earning income from 34. If the Main Entity’s domestic tax system allows for cross-crediting between Permanent the Main Entity/Parent Entity jurisdiction. Where this occurs outside the context of a cross-crediting regime, Establishments and distributions from foreign subsidiaries, the allocation mechanism is required to allocate the general principles outlined in paragraphs 46 to 51 of the Administrative Guidance to Article 4.3.2 the relevant taxes between the Permanent Establishments and the subsidiary Constituent Entities. The applies. Where the relevant income is subject to a cross-crediting regime and is treated as foreign source GloBE Rules allow for the allocation of such taxes to the respective Permanent Establishments and income for the purposes of an applicable foreign tax credit limitation, the income will be treated as foreign subsidiary Constituent Entities under Article 4.3.2(a) and Article 4.3.2(e) respectively. In such cases, the source income under the cross-crediting allocation mechanism. Finally, where the income is not treated Constituent Entity paying the tax is both the Main Entity with respect to the Permanent Establishments and as foreign source income of the Main Entity/Parent Entity for the purposes of applying the foreign tax credit a Parent Entity with respect to the subsidiaries which made the distributions (‘Main Entity/Parent Entity’). limitation but is nevertheless included in the GloBE Income of the Permanent Establishment, CFC, foreign

35. In such cases, the above formula is modified to take into account the ability to cross-credit between Hybrid Entity or foreign Reverse Hybrid Entity, that income will be treated as foreign source income for the

Permanent Establishments and taxable distributions as follows: purposes of the cross-crediting allocation mechanism and all taxes paid with respect to that income are allocated under the cross-crediting allocation mechanism. The amount is treated as forming part of the 36. The first step also requires calculating the Main Entity/Parent Entity’s inclusion in taxable income taxable income of the relevant Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse as a result of the distribution from the relevant distributing Entity. If the Main Entity/Parent Entity’s domestic Hybrid Entity for the purposes of applying Step 1 of the cross-crediting allocation mechanism. tax system includes in the taxable income of the Main Entity/Parent Entity a ‘gross-up’ for any taxes paid

by the distributing Entity, that amount is also included in this step. For example, a distributing Entity earns 32. For example, consider a Main Entity (located in Jurisdiction A) that has a Permanent Establishment

100 of income, pays 10 of local tax and makes a distribution of 90 to its Parent Entity. If the Parent Entity (located in Jurisdiction B). The Permanent Establishment earns income from transactions with an unrelated

jurisdiction grants an indirect tax credit for the foreign taxes paid with respect to that distribution (10) but entity (X Co) in Jurisdiction A that is included in the Permanent Establishment’s GloBE Income or Loss.

adds the amount of these indirect foreign tax credits to the taxable income of the Parent Entity such that Jurisdiction A imposes tax on the Permanent Establishment’s income from transactions with X Co and the

the total inclusion in taxable income is 100, the addition 10 is included in taxable income as a ‘gross-up’ income from X Co is not treated as foreign source income for the purposes of calculating the foreign tax

amount. The total foreign source income is 100. credit limitation applicable to Main Entity. In such cases, the PE’s income from transactions with X Co is treated as foreign source income of the Permanent Establishment and the Jurisdiction A taxes paid with 37. The second step requires calculating Allocable Covered Taxes taking into account both the taxable respect to that income are allocated under the cross-crediting allocation mechanism. income of all Permanent Establishments as well as any distributions from distributing Entities. The

domestic tax liability calculated without regard to any foreign source income requires excluding the income

from both foreign Permanent Establishments and distributions from foreign subsidiaries as well as the tax

liability arising from any foreign source income of the Main Entity/Parent Entity. The formula is applied as

follows:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 = 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑴𝑴𝑴𝑴𝑴𝑴𝑴𝑴 𝑬𝑬𝑴𝑴𝑬𝑬𝑴𝑴𝑬𝑬𝑬𝑬 / 𝑷𝑷𝑴𝑴𝑷𝑷𝑷𝑷𝑴𝑴𝑬𝑬 𝑬𝑬𝑴𝑴𝑬𝑬𝑴𝑴𝑬𝑬𝑬𝑬 𝑤𝑤𝑤𝑤𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑤𝑤𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑤𝑤𝑟𝑟𝐴𝐴 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑤𝑤𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑤𝑤𝐴𝐴𝐴𝐴𝑤𝑤𝐴𝐴𝑤𝑤𝑇𝑇𝑏𝑏 𝑤𝑤𝑤𝑤𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑤𝑤𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑤𝑤𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 − 𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

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38. The third step requires determining the Cross-Crediting Allocation Key for the distributing Entities. The Cross-Crediting Allocation Keys for each Permanent Establishment and the Main Entity remain unchanged. The Cross-Crediting Allocation Key for each distributing Entity is given by the positive amount, if any, from the following formula:

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 = (𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶ℎ𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) − 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶

39. As per the first step, the taxable income arising from the distribution includes any ‘gross-up’ for taxes paid in the distributing Entity jurisdiction and is adjusted for any deductions permissible under the Main Entity/Parent Entity’s domestic tax system in respect of such distribution. The applicable tax rate is that which is applied to the relevant income in the hands of the Main Entity/Parent Entity. The creditable foreign taxes accrued with respect to the distribution includes all relevant foreign taxes for which a foreign tax credit is granted notwithstanding any foreign tax credit limitation. Depending on the foreign tax credit rules applicable in the Main Entity jurisdiction, this would include taxes which give rise to a direct foreign tax credit (for example, a withholding tax) or an indirect foreign tax credit (for example, a regime which grants the Main Entity a foreign tax credit equal to its proportionate share of the corporate income taxes paid by the distributing entity). It will also include Qualified Domestic Minimum Top-up Taxes if the Main Entity jurisdiction gives a foreign tax credit for such taxes. The Cross-Crediting Allocation Key for such entities also cannot be negative. If the outcome of the formula is negative, the Cross-Crediting Allocation Key for the relevant distributing Entity will be zero. 40. The fourth step is largely unchanged. Each Permanent Establishment and distributing Entity, as well as the Main Entity itself, receives an allocation of the Allocable Covered Taxes in proportion to its Cross-Crediting Allocation Key.

𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝐸𝐸 𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝐸𝐸 𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾

× (

𝑇𝑇ℎ𝐶𝐶 𝐶𝐶𝑑𝑑𝑖𝑖 𝐶𝐶𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾𝐶𝐶 ).

Cross-crediting within separate categories or baskets of income

41. If the Main Entity/Parent Entity jurisdiction’s domestic tax system contains separate categories or ‘baskets’ of foreign source income within which cross-crediting is allowed, the formula must be modified to calculate a separate amount of Allocable Covered Taxes for each such category or basket. The above formula for Allocable Covered Taxes assumes a single basket of income. Where the tax system contains multiple baskets, the Allocable Covered Taxes for each basket are calculated using the following formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶 𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩 𝑨𝑨 = 𝑇𝑇𝐶𝐶𝐶𝐶𝐴𝐴𝐴𝐴 𝐴𝐴𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝑡𝑡𝑎𝑎𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑑𝑑𝐾𝐾 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑖𝑖𝐶𝐶 − 𝐶𝐶𝐶𝐶𝑖𝑖𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴 𝐶𝐶𝐴𝐴𝑡𝑡 𝐴𝐴𝐶𝐶𝐴𝐴𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶𝐾𝐾 𝑤𝑤𝐶𝐶𝐶𝐶ℎ𝐶𝐶𝑑𝑑𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐴𝐴𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 −𝐵𝐵𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 − 𝒅𝒅𝒅𝒅𝒅𝒅𝑩𝑩𝑩𝑩𝑩𝑩𝒅𝒅𝒅𝒅 𝑩𝑩𝑩𝑩𝒕𝒕 𝒍𝒍𝒅𝒅𝑩𝑩𝒍𝒍𝒅𝒅𝒍𝒍𝒅𝒅𝑩𝑩𝒍𝒍 𝑩𝑩𝑩𝑩𝑩𝑩𝒂𝒂𝒅𝒅𝒍𝒍𝒂𝒂𝑩𝑩𝑩𝑩𝒍𝒍𝒍𝒍𝑩𝑩 𝑩𝑩𝒅𝒅 𝒂𝒂𝑩𝑩𝒅𝒅𝑩𝑩𝒅𝒅𝒓𝒓𝒅𝒅𝒓𝒓𝒓𝒓 𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

Bilaga 1

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38. The third step requires determining the Cross-Crediting Allocation Key for the distributing Entities. 42. In determining the domestic tax liability attributable to each basket it may be necessary to allocate The Cross-Crediting Allocation Keys for each Permanent Establishment and the Main Entity remain certain relevant tax attributes between the income in different baskets. This must be done using a unchanged. The Cross-Crediting Allocation Key for each distributing Entity is given by the positive amount, reasonable allocation method which takes into account the design of the relevant domestic tax system and if any, from the following formula: making reasonable assumptions where necessary. The sum of the domestic tax liability without regard to

any foreign source income and the domestic tax liability attributable to each basket must be equal to the total tax paid by the Main Entity/Parent Entity. For these purposes, an allocation must be positive or zero. 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 The methodology cannot result in a negative allocation to any basket or to the domestic tax liability = (𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶ℎ𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) calculated without regard to any foreign source income. − 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 43. The remaining steps are then applied within the relevant category or basket of income. The income and current taxes accrued by a PE or Entity with respect to foreign source income in one basket is irrelevant to the application of the cross-crediting allocation mechanism to foreign source income in another basket.

39. As per the first step, the taxable income arising from the distribution includes any ‘gross-up’ for

The allocation to each PE or Entity with respect to its income within the basket is given by the following taxes paid in the distributing Entity jurisdiction and is adjusted for any deductions permissible under the

formula. Main Entity/Parent Entity’s domestic tax system in respect of such distribution. The applicable tax rate is that which is applied to the relevant income in the hands of the Main Entity/Parent Entity. The creditable 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 foreign taxes accrued with respect to the distribution includes all relevant foreign taxes for which a foreign 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴 X ( tax credit is granted notwithstanding any foreign tax credit limitation. Depending on the foreign tax credit 𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑠𝑠 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇 𝒊𝒊𝒊𝒊 𝒕𝒕𝒕𝒕𝒕𝒕 𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝒕𝒕𝒕𝒕 ) rules applicable in the Main Entity jurisdiction, this would include taxes which give rise to a direct foreign tax credit (for example, a withholding tax) or an indirect foreign tax credit (for example, a regime which grants the Main Entity a foreign tax credit equal to its proportionate share of the corporate income taxes 44. If a Permanent Establishment or Entity has income in multiple baskets, the total allocation to that paid by the distributing entity). It will also include Qualified Domestic Minimum Top-up Taxes if the Main Constituent Entity will be the sum of the allocations under each basket of income. Entity jurisdiction gives a foreign tax credit for such taxes. The Cross-Crediting Allocation Key for such

45. The above example contains Covered Taxes which are to be allocated to a Permanent entities also cannot be negative. If the outcome of the formula is negative, the Cross-Crediting Allocation

Establishment under Article 4.3.2(a) as well as allocations to a distributing Constituent Entity under Article Key for the relevant distributing Entity will be zero.

4.3.2(e). These principles are also applicable to determine the allocation of other Covered Taxes which 40. The fourth step is largely unchanged. Each Permanent Establishment and distributing Entity, as are subject to an allocation under Article 4.3.2. well as the Main Entity itself, receives an allocation of the Allocable Covered Taxes in proportion to its

Cross-Crediting Allocation Key. Current Taxes accrued with respect to non-GloBE Income

46. The four-step process described above is a mechanism for allocating current taxes accrued by a Main Entity/Parent Entity under its domestic corporate income tax system on the income of its respective 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝐸𝐸 𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 Permanent Establishments and distributing Entities. This allocation mechanism does not presume an = 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 allocation towards the GloBE Income of Constituent Entities. In cases where the Main Entity/Parent Entity 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝐸𝐸 𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 × ( has accrued current tax expense with respect to profits which are excluded from GloBE Income, the 𝑇𝑇ℎ𝐶𝐶 𝐶𝐶𝑑𝑑𝑖𝑖 𝐶𝐶𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾𝐶𝐶 ). relevant tax expense will be excluded from Adjusted Covered Taxes of the Permanent Establishment or distributing Constituent Entity. Whether or not the current tax expense accrued by the Main Entity/Parent Entity were accrued with respect to GloBE Income is determined by reference to the relevant tax regime

Cross-crediting within separate categories or baskets of income

applicable in the Main Entity/Parent Entity and making reasonable assumptions as necessary.

41. If the Main Entity/Parent Entity jurisdiction’s domestic tax system contains separate categories or 47. For example, a Parent Entity could pay tax with respect to a distribution which is an Excluded ‘baskets’ of foreign source income within which cross-crediting is allowed, the formula must be modified to Dividend under the GloBE Rules from a non-Constituent Entity. The allocation formula would determine calculate a separate amount of Allocable Covered Taxes for each such category or basket. The above the amount of current tax expense accrued with respect to that Excluded Dividend. These taxes would formula for Allocable Covered Taxes assumes a single basket of income. Where the tax system contains have been accrued with respect to an amount excluded from GloBE Income or Loss under Chapter 3. The multiple baskets, the Allocable Covered Taxes for each basket are calculated using the following formula: taxes were not accrued with respect to GloBE Income and are therefore excluded from the Adjusted

Covered Taxes of the Parent Entity by Article 4.1.3(a).

𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶 𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩 𝑨𝑨 = 𝑇𝑇𝐶𝐶𝐶𝐶𝐴𝐴𝐴𝐴 𝐴𝐴𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝑡𝑡𝑎𝑎𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑑𝑑𝐾𝐾 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑖𝑖𝐶𝐶 − 𝐶𝐶𝐶𝐶𝑖𝑖𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴 𝐶𝐶𝐴𝐴𝑡𝑡 𝐴𝐴𝐶𝐶𝐴𝐴𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶𝐾𝐾 𝑤𝑤𝐶𝐶𝐶𝐶ℎ𝐶𝐶𝑑𝑑𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐴𝐴𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 −𝐵𝐵𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 − 𝒅𝒅𝒅𝒅𝒅𝒅𝑩𝑩𝑩𝑩𝑩𝑩𝒅𝒅𝒅𝒅 𝑩𝑩𝑩𝑩𝒕𝒕 𝒍𝒍𝒅𝒅𝑩𝑩𝒍𝒍𝒅𝒅𝒍𝒍𝒅𝒅𝑩𝑩𝒍𝒍 𝑩𝑩𝑩𝑩𝑩𝑩𝒂𝒂𝒅𝒅𝒍𝒍𝒂𝒂𝑩𝑩𝑩𝑩𝒍𝒍𝒍𝒍𝑩𝑩 𝑩𝑩𝒅𝒅 𝒂𝒂𝑩𝑩𝒅𝒅𝑩𝑩𝒅𝒅𝒓𝒓𝒅𝒅𝒓𝒓𝒓𝒓 𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩𝑩

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48. Furthermore, to the extent that the cross-crediting allocation mechanism allocates tax to non- GloBE Entities (i.e. Entities that are not Constituent Entities, Joint Ventures or JV Subsidiaries), that amount of tax must be allocated to such non-GloBE Entities to ensure that such tax is properly excluded from the Adjusted Covered Taxes of the Constituent Entities, Joint Ventures or JV Subsidiaries of the MNE Group for GloBE purposes where the distribution is not included in the GloBE Income or Loss of the Main Entity/Parent Entity. Tax allocable to non-Constituent Entities will not be excluded from the Adjusted Covered Taxes of the Main Entity/Parent Entity if the distribution is included in the Main Entity/Parent Entity’s GloBE Income or Loss (for example, if the Main Entity/Parent Entity has a Short-term Portfolio Shareholding in the distributing Entity).

Revisions to the Commentary

49. The text in strikethrough will be deleted from and the text in bold added to paragraph 52 of the Commentary to Article 4.3.2:

52. Determining the amount of Tax paid on a PE income inclusion is more complicated

when cross-crediting is allowed because Taxes paid by one PE are allowed to reduce the

tax liability arising in respect of other PE income inclusions. Cross-crediting means that

the Tax paid with respect to an income inclusion from a low-taxed PE may not equal the

pre-credit tax liability on the inclusion less the tax credit allowed for Taxes paid by that PE.

Where cross-crediting is allowed, an allocation mechanism is required to determine the extent to which the current taxes accrued by the Main Entity have been accrued with respect to its Permanent Establishments as opposed to other sources of income (for example, foreign source income earned directly by the Main Entity itself). The following four-step process is designed to allocate the taxes of the Main Entity by reference to the design of the Main Entity’s tax regime. This methodology is only used to allocate the taxes imposed on the Main Entity under the corporate income tax which applies the cross-crediting tax regime. The methodology is not used to allocate other taxes imposed with respect to the income included in the cross-credited tax regime (for example, it does not allocate current tax expense with respect to a withholding tax for which a foreign tax credit is granted under the cross-credited tax regime). The first step calculates the foreign source income of each PE. The second step calculates the total Allocable Covered Taxes which have been accrued with respect to foreign source income and are available for allocation. The third step assigns a ‘Cross-Crediting Allocation Key’ to each PE as well as the Main Entity itself). The fourth step allocates the Allocable Covered Taxes between the PEs and the Main Entity. The allocations to the PEs are made under Article 4.3.2(a). The methodology is set out in the paragraphs below. The Inclusive Framework will consider further guidance with respect to the impact of post-filing

adjustments on the cross-crediting allocation mechanism. Where cross-crediting is

allowed, the Taxes paid in respect of an inclusion should be determined by subtracting the

credit allowed for Taxes paid by the particular PE, and then further subtracting an

appropriate amount of excess creditable Taxes paid by other PEs from the pre-credit tax

liability of the PE. The appropriate amount of excess creditable taxes should be

determined by allocating the total amount of excess creditable taxes among PE inclusions

based on the relative residual tax liability due to each PE inclusion taking into account only

creditable taxes paid by that PE (i.e. the liability after the credit for taxes paid by the PE

but before excess credits are allocated). Allocating the excess creditable taxes based on

relative residual tax liability determined based solely on the PE’s creditable taxes will

ensure that the amount of the Main Entity’s Covered Taxes allocated to PEs does not

exceed the amount of Taxes actually arising on the related income inclusions. Deferred

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48. Furthermore, to the extent that the cross-crediting allocation mechanism allocates tax to non- tax liabilities with respect to PE income are allocated in the same manner. The rules with GloBE Entities (i.e. Entities that are not Constituent Entities, Joint Ventures or JV Subsidiaries), that respect to the recognition of deferred tax liabilities are set forth in Article 4.4. amount of tax must be allocated to such non-GloBE Entities to ensure that such tax is properly excluded

50. The following paragraphs will be added after paragraphs 52 of the Commentary to Article 4.3.2: from the Adjusted Covered Taxes of the Constituent Entities, Joint Ventures or JV Subsidiaries of the MNE Group for GloBE purposes where the distribution is not included in the GloBE Income or Loss of the Main 52.1. Where cross-crediting is allowed between different sources of foreign source Entity/Parent Entity. Tax allocable to non-Constituent Entities will not be excluded from the Adjusted income, including different Permanent Establishments and/or distributions from Entities, Covered Taxes of the Main Entity/Parent Entity if the distribution is included in the Main Entity/Parent the current tax accrued by the Main Entity/Parent Entity must be allocated to the Entity’s GloBE Income or Loss (for example, if the Main Entity/Parent Entity has a Short-term Portfolio Permanent Establishments and/or distributing Constituent Entities by applying the Shareholding in the distributing Entity). principles contained in the following four-step calculation. Where cross-crediting is allowed

between all foreign source income, there will only be a single ‘pool’ or ‘basket’ of income

Revisions to the Commentary to which the allocation mechanism will apply. Where cross-crediting is only allowed within

a particular ‘pool’ or ‘basket’ of income, this calculation is to be applied separately to each 49. The text in strikethrough will be deleted from and the text in bold added to paragraph 52 of the such pool or basket of income. Where multiple taxes with different tax bases are placed Commentary to Article 4.3.2:

on the Main Entity with respect to the foreign source income (for instance, separately

applied under a federal and an applicable subnational tax with a different tax base), this 52. Determining the amount of Tax paid on a PE income inclusion is more complicated when cross-crediting is allowed because Taxes paid by one PE are allowed to reduce the cross-crediting allocation mechanism must be applied separately to allocate the amount

of Allocable Covered Taxes that relates to each such tax. In the case of multiple taxes tax liability arising in respect of other PE income inclusions. Cross-crediting means that the Tax paid with respect to an income inclusion from a low-taxed PE may not equal the with identical tax bases that apply to the same Entities (for example, a surtax), those taxes

may be aggregated in determining the amount of Allocable Covered Taxes such that the pre-credit tax liability on the inclusion less the tax credit allowed for Taxes paid by that PE. Where cross-crediting is allowed, an allocation mechanism is required to determine mechanism can be applied once on an aggregated basis with respect to those taxes, the extent to which the current taxes accrued by the Main Entity have been accrued rather than separately for each tax.

with respect to its Permanent Establishments as opposed to other sources of

52.2. First, the relevant inclusion in the Main Entity/Parent Entity’s taxable income

income (for example, foreign source income earned directly by the Main Entity

arising from each Permanent Establishment and distributing Entity must be determined.

itself). The following four-step process is designed to allocate the taxes of the Main

The foreign source income earned directly by the Main Entity/Parent Entity which is

Entity by reference to the design of the Main Entity’s tax regime. This methodology

included in its taxable income must also be calculated. Foreign source income means

is only used to allocate the taxes imposed on the Main Entity under the corporate

income of domestic entities to the extent the Main Entity/Parent Entity jurisdiction

income tax which applies the cross-crediting tax regime. The methodology is not

considers the income to be from foreign sources for purposes of determining the extent to

used to allocate other taxes imposed with respect to the income included in the

which a foreign tax credit is allowed. It includes, for example, the income of foreign cross-credited tax regime (for example, it does not allocate current tax expense with Permanent Establishments, CFCs, Hybrid Entities or Reverse Hybrid Entities which is

respect to a withholding tax for which a foreign tax credit is granted under the

included in the taxable income of the Main Entity/Parent Entity under its domestic tax

cross-credited tax regime). The first step calculates the foreign source income of

system along with certain dividends, royalties and interest payments received by the Main

each PE. The second step calculates the total Allocable Covered Taxes which have

Entity/Parent Entity from foreign sources.

been accrued with respect to foreign source income and are available for allocation.

52.3. Foreign source income is a net amount. It takes into account both income and

The third step assigns a ‘Cross-Crediting Allocation Key’ to each PE as well as the

expenses which are used in determining the total inclusion of foreign source income in the

Main Entity itself). The fourth step allocates the Allocable Covered Taxes between

taxable income of the Main Entity. Where the applicable tax regime includes a net amount

the PEs and the Main Entity. The allocations to the PEs are made under Article

4.3.2(a). The methodology is set out in the paragraphs below. The Inclusive of the Permanent Establishment or Entity’s income in the Main Entity/Parent Entity’s

taxable income, this net amount will be the foreign source income. However, where the

Framework will consider further guidance with respect to the impact of post-filing

domestic tax regime applicable in the Main Entity/Parent Entity requires an allocation of adjustments on the cross-crediting allocation mechanism. Where cross-crediting is

expenses of the Main Entity to foreign source income only for the purposes of applying allowed, the Taxes paid in respect of an inclusion should be determined by subtracting the

the foreign tax credit limitation (and not for determining the inclusion in the Main Entity’s credit allowed for Taxes paid by the particular PE, and then further subtracting an

taxable income), these expenses are not allocated to each PE or Entity for the purposes appropriate amount of excess creditable Taxes paid by other PEs from the pre-credit tax

of the first step. liability of the PE. The appropriate amount of excess creditable taxes should be determined by allocating the total amount of excess creditable taxes among PE inclusions based on the relative residual tax liability due to each PE inclusion taking into account only creditable taxes paid by that PE (i.e. the liability after the credit for taxes paid by the PE but before excess credits are allocated). Allocating the excess creditable taxes based on relative residual tax liability determined based solely on the PE’s creditable taxes will ensure that the amount of the Main Entity’s Covered Taxes allocated to PEs does not

exceed the amount of Taxes actually arising on the related income inclusions. Deferred

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52.4. Where only an ‘after-tax’ amount is included in the Main Entity/Parent Entity’s taxable income (for example, the amount of an actual or deemed distribution) but a ‘grossup’ is required for taxes paid by the distributing Entity, the taxable income of the Main Entity/Parent Entity will also include the ‘gross-up’ amount. For example, a distributing Entity earns 100, pays 10 of local tax and makes a distribution of 90 to its Parent Entity. If the Parent Entity jurisdiction grants an indirect tax credit for the foreign taxes paid with respect to that distribution (10) but adds the amount of these indirect foreign tax credits to the taxable income of the Parent Entity such that the total inclusion in taxable income is 100, the addition 10 is included in taxable income as a ‘gross-up’ amount. The amount of foreign source income must also be adjusted for any deduction or exclusion calculated directly reference to the amount of the relevant inclusion in taxable income. For example, if the Main Entity/Parent Entity must include an amount in its taxable income but is also entitled to a deduction equal to 40% of the amount included, only the net amount (that is, 60% of the total amount) will be considered to have been included in the Main Entity/Parent Entity’s taxable income.

52.5 Under some domestic tax regimes, the Main Entity may have multiple types of foreign source income which are subject to the same cross-crediting regime but are subject to different tax rates or for which there is a different linked deduction or exclusion from taxable income as described in paragraph 52.4. In such cases, there is still only a single amount of foreign source income for the Main Entity for the purposes of Step 1. 52.6 Where a foreign Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity earns income which is (a) treated as domestic source income of the Main Entity/Parent Entity under the Main Entity/Parent Entity’s domestic tax regime and (b) included in the GloBE Income of the Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity, that income is treated as foreign source income for the purposes of the cross-crediting allocation mechanism. For example, consider a Main Entity (located in Jurisdiction A) which has a Permanent Establishment (located in Jurisdiction B) which earns income from an unrelated entity (X Co) in Jurisdiction A which is included in the GloBE Income or Loss of the Permanent Establishment. Jurisdiction A imposes tax on the Permanent Establishment’s profits from X Co and the income from X Co is not treated as foreign source income for the purposes of calculating the foreign tax credit limitation applicable to Main Entity. In such cases, the PE’s income from X Co is treated as foreign source income of the Permanent Establishment and the taxes paid with respect to that income are allocated under the cross-crediting allocation mechanism. 52.7 If the domestic tax regime of the Main Entity/Parent Entity has several baskets in which cross-crediting may occur, the domestic source income earned by the Permanent Establishment, CFC, foreign Hybrid Entity or Reverse Hybrid Entity that is treated as foreign source income under paragraph 52.6 should be allocated to the same basket to which the foreign taxes paid by the Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity are (or would be) allocated under the domestic tax regime of the Main Entity/Parent Entity. If the domestic tax regime of the Main Entity/Parent Entity does not provide foreign tax credits on domestic source income, the domestic source income will be allocated to the same basket to which foreign taxes would be allocated if the income had been foreign source income of the same type under the Main Entity/Parent Entity jurisdiction’s law.

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52.4. Where only an ‘after-tax’ amount is included in the Main Entity/Parent Entity’s 52.8 Where a payment is made from the Main Entity/Parent Entity to the Permanent taxable income (for example, the amount of an actual or deemed distribution) but a ‘gross- Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity which is up’ is required for taxes paid by the distributing Entity, the taxable income of the Main disregarded for the purposes of applying the Main Entity/Parent Entity’s domestic tax Entity/Parent Entity will also include the ‘gross-up’ amount. For example, a distributing regime that income will be treated as foreign source income of the Permanent Entity earns 100, pays 10 of local tax and makes a distribution of 90 to its Parent Entity. If Establishment, CFC or foreign Hybrid if it is included in the GloBE Income or Loss of the the Parent Entity jurisdiction grants an indirect tax credit for the foreign taxes paid with recipient Constituent Entity. For example, consider a Parent Entity with a foreign Hybrid respect to that distribution (10) but adds the amount of these indirect foreign tax credits to Entity (X Co, in Jurisdiction X) under a cross-crediting tax regime. Under the Parent the taxable income of the Parent Entity such that the total inclusion in taxable income is Entity’s domestic tax regime, all payments between Parent Entity and X Co are 100, the addition 10 is included in taxable income as a ‘gross-up’ amount. The amount of disregarded in determining foreign source income within a basket. Parent Entity makes a foreign source income must also be adjusted for any deduction or exclusion calculated 500 payment and a 100 payment to X Co. X Co includes the 500 payment in its GloBE directly reference to the amount of the relevant inclusion in taxable income. For example, Income or Loss but not the 100 payment. X Co has no other income or expense for the if the Main Entity/Parent Entity must include an amount in its taxable income but is also year. For the purposes of the cross-crediting allocation mechanism, X Co’s foreign source entitled to a deduction equal to 40% of the amount included, only the net amount (that is, income is 500. 60% of the total amount) will be considered to have been included in the Main

52.9 A similar issue arises where a payment is made from a Permanent Establishment, Entity/Parent Entity’s taxable income.

CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity to the Main Entity/Parent Entity 52.5 Under some domestic tax regimes, the Main Entity may have multiple types of which is disregarded for the purposes of calculating the foreign tax credit limitation foreign source income which are subject to the same cross-crediting regime but are applicable to the Main Entity/Parent Entity. In such cases, the payment will only be treated subject to different tax rates or for which there is a different linked deduction or exclusion as reducing the foreign source income of the Permanent Establishment, CFC, foreign from taxable income as described in paragraph 52.4. In such cases, there is still only a Hybrid Entity or foreign Reverse Hybrid Entity to the extent that it is taken into account as single amount of foreign source income for the Main Entity for the purposes of Step 1. an expense in calculating the GloBE Income or Loss of the Permanent Establishment,

CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity. 52.6 Where a foreign Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity earns income which is (a) treated as domestic source income of the 52.10 There can also be a payment which is made from one Permanent Establishment, Main Entity/Parent Entity under the Main Entity/Parent Entity’s domestic tax regime and CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity of a Main Entity/Parent Entity (b) included in the GloBE Income of the Permanent Establishment, CFC, Hybrid Entity or to another Permanent Establishment, CFC, foreign Hybrid Entity or foreign Reverse Reverse Hybrid Entity, that income is treated as foreign source income for the purposes Hybrid Entity of the same Main Entity/Parent Entity. In such cases, the payment will only of the cross-crediting allocation mechanism. For example, consider a Main Entity (located be treated as income of the recipient of the payment for the purposes of this cross-crediting in Jurisdiction A) which has a Permanent Establishment (located in Jurisdiction B) which allocation mechanism if the payment is both taken into account as income in calculating earns income from an unrelated entity (X Co) in Jurisdiction A which is included in the the GloBE Income or Loss of the Recipient and as an expense in calculation the GloBE GloBE Income or Loss of the Permanent Establishment. Jurisdiction A imposes tax on the Income or Loss of the payor. Permanent Establishment’s profits from X Co and the income from X Co is not treated as

52.11 In some cases, the Main Entity/Parent Entity jurisdiction’s tax regime will not foreign source income for the purposes of calculating the foreign tax credit limitation

determine a net amount of foreign source income for each Permanent Establishment, applicable to Main Entity. In such cases, the PE’s income from X Co is treated as foreign

CFC, Hybrid Entity or Reverse Hybrid Entity. Instead, it may include all the income and source income of the Permanent Establishment and the taxes paid with respect to that

expense of that PE, CFC, Hybrid Entity or Reverse Hybrid Entity in determining the taxable income are allocated under the cross-crediting allocation mechanism.

income of the Main Entity/Parent Entity and only allocate a portion of the total expenses 52.7 If the domestic tax regime of the Main Entity/Parent Entity has several baskets in of the Main Entity/Parent Entity to a basket of foreign source income for the purposes of which cross-crediting may occur, the domestic source income earned by the Permanent applying its foreign tax credit limitation. In such cases, where the domestic tax regime only Establishment, CFC, foreign Hybrid Entity or Reverse Hybrid Entity that is treated as allocates domestic expenses to foreign source income for the purposes of calculating the foreign source income under paragraph 52.6 should be allocated to the same basket to foreign tax credit limitation, those expenses will be included in determining the foreign which the foreign taxes paid by the Permanent Establishment, CFC, foreign Hybrid Entity source income of the Permanent Establishment, CFC, foreign Hybrid Entity or foreign or foreign Reverse Hybrid Entity are (or would be) allocated under the domestic tax regime Reverse Hybrid Entity for the purposes of the first step but only to the extent that those of the Main Entity/Parent Entity. If the domestic tax regime of the Main Entity/Parent Entity expenses are included in determining the GloBE Income or Loss of the Permanent does not provide foreign tax credits on domestic source income, the domestic source Establishment, CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity. To the extent income will be allocated to the same basket to which foreign taxes would be allocated if there are expenses allocated to the basket of foreign source income which are not the income had been foreign source income of the same type under the Main Entity/Parent included in the determination of GloBE Income or Loss of any Permanent Establishment, Entity jurisdiction’s law. CFC, foreign Hybrid Entity or foreign Reverse Hybrid Entity, those expenses remain in the

Main Entity/Parent Entity.

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52.12 For example, consider a Parent Entity with two foreign Hybrid Entities (A Co and B Co) which are subject to a cross-crediting regime. The Parent Entity jurisdiction’s tax regime does not determine a net income amount of foreign source income from the Hybrid Entities which is included in the taxable income of the Parent Entity. Instead, the Parent Entity jurisdiction’s domestic tax regime includes all of the income and expenses of the Hybrid Entities and allocates expenses to a basket of foreign source income solely for the purposes of applying the foreign tax credit limitation. The Parent Entity has 1000 of deductible interest payments of which 400 is allocated to a basket of income which includes the two Hybrid Entities for the purposes of determining the Parent Entity’s foreign tax credit limitation. Of this 400 of deductible interest, 100 is recognised as an expense of A Co for the purpose of calculating A Co’s GloBE Income or Loss. The other 300 is not recognised as an expense in calculating the GloBE Income or Loss of A Co or B Co. For the purposes of step one of the cross-crediting regime, A Co’s foreign source income takes into account 100 of this interest expense (that is, A Co’s foreign source income is reduced by 100). There is no adjustment for the remaining 900 of interest expense. 52.13. Second, the Allocable Covered Taxes are determined using the formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

= 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 / 𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 − 𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

This formula operates to exclude taxes which have been accrued with respect to the domestic source income of the Main Entity/Parent Entity as well as taxes imposed under a Blended CFC Tax Regime which have been allocated in accordance with paragraphs 58.1 to 58.7 of the Commentary to Article 4.3.2(c). 52.14 Total current tax expense accrued by the Main Entity/Parent Entity with respect to the applicable tax regime is the current tax expense for the relevant period with respect to the corporate income tax within which the cross-crediting mechanism applies. This does not include current tax expense accrued by the Main Entity/Parent Entity with respect to foreign taxes (regardless of whether or not a foreign tax credit is available). Such source taxes are not imposed under the applicable tax regime and they are separately allocated. 52.15 The total current tax expense with respect to the applicable tax regime does not take into account current tax expenses which relate to an uncertain tax position, or which are not expected to be paid within three years of the last day of the relevant taxable period. 52.16 The total current tax expense takes into account the GloBE treatment of any applicable tax credits. For example, non-refundable tax credits which reduce the total tax payable by the Main Entity/Parent Entity under the applicable tax regime would reduce the amount of total current tax expense. Adjustments are required for Qualified Refundable Tax Credits, Marketable Transferable Tax Credits and Qualified Flow-Through Tax Benefits (where the Equity Investment Inclusion Election has been made) to the extent that they are not accounted for consistently with their required GloBE treatment. For the purposes of the cross-crediting allocation mechanism, these are treated as an increase in the domestic source income of the Main Entity/Parent Entity and result in a corresponding adjustment to both the total current tax expense and the domestic tax liability calculated without regard to any foreign source income.

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52.12 For example, consider a Parent Entity with two foreign Hybrid Entities (A Co and 52.17 For example, a Main Entity has domestic source income of 1000 and foreign B Co) which are subject to a cross-crediting regime. The Parent Entity jurisdiction’s tax source income of 1000 under the Main Entity domestic tax regime. The Main Entity

regime does not determine a net income amount of foreign source income from the Hybrid jurisdiction has a 20% tax rate. The Main Entity also receives 100 in Qualified Refundable Entities which is included in the taxable income of the Parent Entity. Instead, the Parent Tax Credits under the Main Entity’s domestic tax regime. Accordingly, it has a domestic

Entity jurisdiction’s domestic tax regime includes all of the income and expenses of the tax liability of 300 for the year ((2000 x 20%) - 100). For the purposes of applying the

Hybrid Entities and allocates expenses to a basket of foreign source income solely for the cross-crediting allocation mechanism, the Main Entity is treated as having domestic

purposes of applying the foreign tax credit limitation. The Parent Entity has 1000 of source income of 1100 (1000 + 100). Its total current tax expense is 400 (300 + 100) and deductible interest payments of which 400 is allocated to a basket of income which its domestic tax liability without regard to any foreign source income is 220 (1100 x 20%). includes the two Hybrid Entities for the purposes of determining the Parent Entity’s foreign

52.18. The domestic tax liability without regard to any foreign source income requires a tax credit limitation. Of this 400 of deductible interest, 100 is recognised as an expense of

hypothetical calculation of the domestic tax liability in the absence of income and other tax A Co for the purpose of calculating A Co’s GloBE Income or Loss. The other 300 is not

attributes arising from foreign sources, as determined under the domestic tax rules. recognised as an expense in calculating the GloBE Income or Loss of A Co or B Co. For

Foreign source income for these purposes are the amounts determined under Step One the purposes of step one of the cross-crediting regime, A Co’s foreign source income takes

except as adjusted by paragraph 52.20. into account 100 of this interest expense (that is, A Co’s foreign source income is reduced

by 100). There is no adjustment for the remaining 900 of interest expense. 52.19 Where an amount is treated as foreign source income under paragraphs 52.6 to

52.12, there is a corresponding adjustment to the calculated domestic tax liability of the 52.13. Second, the Allocable Covered Taxes are determined using the formula:

Main Entity or Parent Entity. Where the Main Entity or Parent Entity directly earns both

foreign source income (for example, royalty income) and domestic source income, the

adjustment will be made in proportion to each type of directly earned income. For example, 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

consider a Main Entity/Parent Entity in Jurisdiction A which has taxable income of 1000 of = 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 which 750 has arisen from domestic source income and 250 is directly earned foreign / 𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴 source royalty income of the Main Entity/Parent Entity. The Main Entity/Parent Entity also − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 has indirect foreign source income from a PE of 500. The Main Entity/Parent Entity has − 𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 also made a disregarded payment of 400 to a Hybrid Entity (B Co) in Jurisdiction B, which B Co has included in its taxable income and GloBE Income. For the purposes of applying

This formula operates to exclude taxes which have been accrued with respect to the Step 2, the Main Entity/Parent Entity’s ‘domestic tax liability without regard to any foreign domestic source income of the Main Entity/Parent Entity as well as taxes imposed under source income’ is calculated as follows. First, the corresponding adjustment for the 400 in

a Blended CFC Tax Regime which have been allocated in accordance with paragraphs disregarded payments which has been treated as foreign source income under paragraph

58.1 to 58.7 of the Commentary to Article 4.3.2(c). [52.8] must be allocated proportionately between the directly earned domestic source

income and the directly earned foreign source income of the Main Entity/Parent Entity. 52.14 Total current tax expense accrued by the Main Entity/Parent Entity with respect to

Accordingly, 300 is allocated to domestic sources (400 x (750 / (750 + 250))). The indirect the applicable tax regime is the current tax expense for the relevant period with respect to

foreign source income from the PE is not relevant to the allocation. As a result, the the corporate income tax within which the cross-crediting mechanism applies. This does

corresponding adjustment reduces Main Entity/Parent Entity’s domestic source income for not include current tax expense accrued by the Main Entity/Parent Entity with respect to

the purposes of Step 2 by 300. Accordingly, the Main Entity/Parent Entity’s ‘domestic tax foreign taxes (regardless of whether or not a foreign tax credit is available). Such source

liability without regard to any foreign source income’ is 90 ((750 – 300) x 20%). taxes are not imposed under the applicable tax regime and they are separately allocated.

52.20 Where the domestic tax regime allocates domestic expenses to foreign source 52.15 The total current tax expense with respect to the applicable tax regime does not

income for the purposes of calculating a foreign tax credit limitation, those expenses are take into account current tax expenses which relate to an uncertain tax position, or which

excluded when calculating the hypothetical domestic tax liability. As a result, the allocation are not expected to be paid within three years of the last day of the relevant taxable period.

of domestic expenses to foreign source income under a Main Entity/Parent Entity’s tax

52.16 The total current tax expense takes into account the GloBE treatment of any regime increases the hypothetical domestic tax liability and therefore reduces the amount applicable tax credits. For example, non-refundable tax credits which reduce the total tax of Allocable Covered Taxes under the formula.

payable by the Main Entity/Parent Entity under the applicable tax regime would reduce the amount of total current tax expense. Adjustments are required for Qualified Refundable

Tax Credits, Marketable Transferable Tax Credits and Qualified Flow-Through Tax Benefits (where the Equity Investment Inclusion Election has been made) to the extent

that they are not accounted for consistently with their required GloBE treatment. For the purposes of the cross-crediting allocation mechanism, these are treated as an increase in

the domestic source income of the Main Entity/Parent Entity and result in a corresponding adjustment to both the total current tax expense and the domestic tax liability calculated

without regard to any foreign source income.

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52.21 For example, a Parent Entity in Jurisdiction X has a foreign Hybrid (Y Co) located in Jurisdiction Y. Y Co has 600 of gross revenue and 400 of domestic expenses producing domestic taxable income of 200. Jurisdiction X includes this 200 in Parent Entity’s taxable income. However, in addition, Jurisdiction X allocates 50 of Parent Entity’s expenses to a basket of income including Y Co’s income for the purposes of applying its foreign tax credit limitation. As a result, Parent Entity includes in its taxable income 200 of foreign source income as a result of Y Co but Parent Entity’s foreign source income for the purposes of applying the foreign tax credit limitation is 150. No taxes are paid in Jurisdiction Y. Parent Entity also has domestic source income of 800, producing a total taxable income of 1000 in Jurisdiction X. Jurisdiction X applies a 20% rate and therefore imposes 200 in taxes. In the above example, Y Co has 200 of foreign source income for the purposes of Step One of the cross-crediting allocation mechanism. However, for the purposes of Step Two of the cross-crediting allocation mechanism, Y Co has foreign source income of 150. Accordingly, Parent Entity’s domestic tax liability without regard to any foreign source income is 170 (850 x 20%), The Allocable Covered Taxes are 30 (200 – 170).

52.22 The hypothetical domestic tax liability cannot be a negative amount. If the hypothetical domestic tax liability would be negative, or is zero, Allocable Covered Taxes will be all of the current tax accrued by the Main Entity. Allocable Covered Taxes must also either be positive or zero. If the hypothetical domestic tax liability exceeds the total current tax accrued in the Main Entity, Allocable Covered Taxes will be zero. The domestic tax liability without regard to any foreign source income is determined under the applicable tax regime and is unaffected by Article 4.3.4. 52.23 If the domestic regime applies a progressive tax rate regime such that one tax rate is applicable to all income (and not just the income above the relevant threshold), then the domestic tax liability without reference to foreign source income is determined by applying the rate which was applied to the Main Entity/Parent Entity in determining its tax liability (and not the rate which would have applied in the absence of the foreign source income). Where the Main Entity/Parent Entity jurisdiction applies progressive tax rates such that one tax rate is applicable to income up to a certain threshold followed by a different tax rate applicable to income above that threshold, the domestic tax liability without regard to any foreign source income must be calculated having allocated a proportionate share of each progressive tax rate band between the various sources of taxable income. For example, a Main Entity Jurisdiction has progressive tax rates such that the first 200 of income is subject to tax at a 10% rate and all subsequent income is subject to tax at a 20% rate. A Main Entity has 100 of domestic source income, 100 of taxable income from PE1 and 300 of taxable income from PE2 and PE3 has a taxable loss of 100. Accordingly, it has total taxable income of 400 (100 + 100 + 300 – 100). As the domestic source income has given rise to 25% (100/400) of the total taxable income, it is allocated 25% of each threshold. Accordingly, the Main Entity is treated as having 50 (200 x 25%) of income subject to tax at 10% rate and 50 (200 x 25%) of income subject to tax at a 20% rate. As a result, the domestic tax liability calculated without regard to any foreign source income is 15 ((50 x 10%) + (50 x 20%)). 52.24. The third step is to calculate the ‘Cross-Crediting Allocation Key’ for each Permanent Establishment and distributing Entity as well as for the Main Entity/Parent Entity itself. These Cross-Crediting Allocation Keys are given by the following formula: 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝑃𝑃𝑃𝑃

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

′ − 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

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52.21 For example, a Parent Entity in Jurisdiction X has a foreign Hybrid (Y Co) located 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 in Jurisdiction Y. Y Co has 600 of gross revenue and 400 of domestic expenses producing = (𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 domestic taxable income of 200. Jurisdiction X includes this 200 in Parent Entity’s taxable × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) income. However, in addition, Jurisdiction X allocates 50 of Parent Entity’s expenses to a − 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝑑𝑑𝑑𝑑𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 basket of income including Y Co’s income for the purposes of applying its foreign tax credit

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 / 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 limitation. As a result, Parent Entity includes in its taxable income 200 of foreign source

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 income as a result of Y Co but Parent Entity’s foreign source income for the purposes of

× 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) applying the foreign tax credit limitation is 150. No taxes are paid in Jurisdiction Y. Parent

− 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 Entity also has domestic source income of 800, producing a total taxable income of 1000 in Jurisdiction X. Jurisdiction X applies a 20% rate and therefore imposes 200 in taxes. In 52.25. The Main Entity/Parent Entity taxable income arising from the PE or distribution is the above example, Y Co has 200 of foreign source income for the purposes of Step One the amount given in the first step. The applicable tax rate is the tax rate applicable to the of the cross-crediting allocation mechanism. However, for the purposes of Step Two of the relevant cross-crediting pool of taxable income by the jurisdiction of the Main Entity/Parent cross-crediting allocation mechanism, Y Co has foreign source income of 150. Entity. If the Main Entity has different types of foreign source income which are subject to Accordingly, Parent Entity’s domestic tax liability without regard to any foreign source different applicable tax rates and still fall within a single cross-crediting regime, it is income is 170 (850 x 20%), The Allocable Covered Taxes are 30 (200 – 170). necessary to determine the Main Entity’s pre-foreign tax credit (FTC) liability arising

directly from foreign source income. This is the sum of each type of foreign source income 52.22 The hypothetical domestic tax liability cannot be a negative amount. If the

multiplied by the tax rate applicable to that type of income in the Main Entity jurisdiction. hypothetical domestic tax liability would be negative, or is zero, Allocable Covered Taxes

Where the Main Entity/Parent Entity is subject to a progressive tax rate regime such that will be all of the current tax accrued by the Main Entity. Allocable Covered Taxes must

a different tax rate is applicable to different portions of its taxable income, each source of also either be positive or zero. If the hypothetical domestic tax liability exceeds the total

income will be treated as having been subject to tax at each progressive tax rate in current tax accrued in the Main Entity, Allocable Covered Taxes will be zero. The domestic

proportion to its share of the total taxable income as described in paragraph 52.23. The tax liability without regard to any foreign source income is determined under the applicable

Cross-Crediting Allocation Key is then given by the following formula: tax regime and is unaffected by Article 4.3.4.

52.23 If the domestic regime applies a progressive tax rate regime such that one tax rate is applicable to all income (and not just the income above the relevant threshold), 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 / 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 then the domestic tax liability without reference to foreign source income is determined by = 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝑃𝑃𝐶𝐶𝐶𝐶 𝐹𝐹𝐹𝐹𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐴𝐴𝐶𝐶𝐴𝐴𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶𝐾𝐾 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 applying the rate which was applied to the Main Entity/Parent Entity in determining its tax − c𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑑𝑑𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑑𝑑𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑑𝑑𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 liability (and not the rate which would have applied in the absence of the foreign source income). Where the Main Entity/Parent Entity jurisdiction applies progressive tax rates such that one tax rate is applicable to income up to a certain threshold followed by a 52.26 The tax paid to the Permanent Establishment jurisdiction is the tax paid or accrued different tax rate applicable to income above that threshold, the domestic tax liability in current tax expense of the Permanent Establishment for which the Main Entity receives without regard to any foreign source income must be calculated having allocated a a foreign tax credit under the Main Entity Jurisdiction’s domestic tax regime. Depending proportionate share of each progressive tax rate band between the various sources of on the foreign tax credit rules applicable in the Main Entity jurisdiction, this would include taxable income. For example, a Main Entity Jurisdiction has progressive tax rates such taxes which give rise to a direct foreign tax credit (for example, a withholding tax) or an that the first 200 of income is subject to tax at a 10% rate and all subsequent income is indirect foreign tax credit (for example, a regime which grants the Main Entity a foreign tax subject to tax at a 20% rate. A Main Entity has 100 of domestic source income, 100 of credit equal to its proportionate share of the corporate income taxes paid by the distributing taxable income from PE1 and 300 of taxable income from PE2 and PE3 has a taxable entity). It will also include Qualified Domestic Minimum Top-up Taxes if the Main Entity loss of 100. Accordingly, it has total taxable income of 400 (100 + 100 + 300 – 100). As jurisdiction gives a foreign tax credit for such taxes. With respect to the allocation key for the domestic source income has given rise to 25% (100/400) of the total taxable income, the Main Entity, current tax expense accrued with respect to the foreign source income it is allocated 25% of each threshold. Accordingly, the Main Entity is treated as having 50 includes taxes paid by the Main Entity/Parent Entity for which a foreign tax credit is (200 x 25%) of income subject to tax at 10% rate and 50 (200 x 25%) of income subject available (for example, royalty withholding tax for which the Main Entity was liable, but to tax at a 20% rate. As a result, the domestic tax liability calculated without regard to any which was collected and remitted by the payor in another jurisdiction). The Cross-Crediting foreign source income is 15 ((50 x 10%) + (50 x 20%)). Allocation Key for a PE or Entity cannot be a negative amount. It must be positive or zero.

If the Cross-Crediting Allocation Key for a PE or Entity would be negative it will be zero for 52.24. The third step is to calculate the ‘Cross-Crediting Allocation Key’ for each

the purposes of applying the cross-crediting allocation mechanism. Permanent Establishment and distributing Entity as well as for the Main Entity/Parent Entity itself. These Cross-Crediting Allocation Keys are given by the following formula: 52.27 The fourth step allocates the Allocable Covered Taxes (as determined under Step

2) in proportion to the Cross-Crediting Allocation Key for each PE or Entity (as determined 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝑃𝑃𝑃𝑃

under Step 3). This is done in accordance with the following formula:

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

′

− 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

Bilaga 1

 69

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝑒𝑒𝐴𝐴𝐴𝐴ℎ 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇

𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸

× (

𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑠𝑠 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇 ).

The sum of all Cross-Crediting Allocation Keys includes the Cross-Crediting Allocation Keys of all Permanent Establishments and distributing Entities as well as the allocation key of the Main Entity/Parent Entity itself. This formula determines the allocation to each such Entity. 52.28 For the purposes of allocating Covered Taxes under Article 4.3.2, the relevant allocations are those with respect to each Permanent Establishment and distributing Constituent Entity. However, the MNE Group’s allocation of Covered Taxes ought to be consistent with the hypothetical allocations. For example, to the extent that tax has been paid with respect to a distribution from a non-Constituent Entity which is not included in the Parent Entity’s GloBE Income, that amount is not included in the Adjusted Covered Taxes of the Main Entity/Parent Entity. To the extent that the cross-crediting allocation mechanism allocates tax to non-GloBE Entities (i.e. Entities that are not Constituent Entities, Joint Ventures or JV Subsidiaries) in which it has a direct or indirect Ownership Interest, that amount of tax must be allocated to such non-GloBE Entities to ensure that such tax is properly excluded from the Adjusted Covered Taxes of the Constituent Entities, Joint Ventures or JV Subsidiaries of the MNE Group for GloBE purposes where the distribution is not included in the GloBE Income or Loss of the Main Entity/Parent Entity. Tax allocable to non-Constituent Entities will not be excluded from the Adjusted Covered Taxes of the Main Entity/Parent Entity if the distribution is included in the Main Entity/Parent Entity’s GloBE Income or Loss (for example, if the Main Entity/Parent Entity has a Short-term Portfolio Shareholding in the distributing Entity). 52.29. The above formula is used to allocate Covered Taxes accrued in current tax expense by a Main Entity/Parent Entity under its domestic tax system to its Permanent Establishments and distributing Constituent Entity subsidiaries. Where the above formula allocates Covered Taxes to a Permanent Establishment or distributing Constituent Entity which have been incurred with respect to an amount excluded from GloBE Income or Loss, the Permanent Establishment or distributing Constituent Entity must then exclude those Covered Taxes under Article 4.1.3(a) in order to determine its Adjusted Covered Taxes. This principle applies to any other applicable adjustment under Article 4.1.3. 52.30. Where the domestic tax system of the Main Entity/Parent Entity allows only for cross-crediting within particular categories or ‘baskets’ of income, the above formula must be modified to determine the allocation within each basket of income. The Allocable Covered Taxes for each basket are calculated using the following formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 𝑓𝑓𝐴𝐴𝑜𝑜 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴 𝐴𝐴

= (𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝑠𝑠𝑜𝑜𝑜𝑜𝑒𝑒𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝑒𝑒𝑇𝑇𝑒𝑒𝑒𝑒𝐴𝐴𝑇𝑇𝑒𝑒 𝐴𝐴𝐴𝐴𝐴𝐴𝑜𝑜𝑠𝑠𝑒𝑒𝐶𝐶 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 / 𝑃𝑃𝐴𝐴𝑜𝑜𝑒𝑒𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑗𝑗𝑠𝑠𝑜𝑜𝐴𝐴𝑇𝑇𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 − 𝐶𝐶𝐴𝐴𝑠𝑠𝑒𝑒𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑤𝑤𝐴𝐴𝐴𝐴ℎ𝐴𝐴𝑠𝑠𝐴𝐴 𝑜𝑜𝑒𝑒𝑟𝑟𝐴𝐴𝑜𝑜𝐶𝐶 𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜𝑒𝑒𝐴𝐴𝑟𝑟𝐴𝐴 𝑇𝑇𝐴𝐴𝑠𝑠𝑜𝑜𝐴𝐴𝑒𝑒 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑠𝑠𝑒𝑒 − 𝐶𝐶𝐴𝐴𝑠𝑠𝑒𝑒𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝐴𝐴𝐴𝐴𝐴𝐴𝑜𝑜𝐴𝐴𝐴𝐴𝑠𝑠𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐴𝐴𝐴𝐴 𝑜𝑜𝑒𝑒𝑠𝑠𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴𝑇𝑇)

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

Bilaga 1

 69 70 

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝑒𝑒𝐴𝐴𝐴𝐴ℎ 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 52.31. In determining the domestic tax liability attributable to each basket it may be

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 necessary to allocate tax attributes (for example, a loss or a tax credit) between the income

𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 in different baskets. This must be done using a reasonable allocation method which takes

× (

𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑠𝑠 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇 ). into account the design of the relevant domestic tax system and making reasonable

assumptions where necessary. The same allocation method must be applied consistently

by the MNE Group in calculating its liabilities under any IIR, UTPR or qualified domestic The sum of all Cross-Crediting Allocation Keys includes the Cross-Crediting Allocation minimum top-up tax. The sum of the domestic tax liability without regard to any foreign Keys of all Permanent Establishments and distributing Entities as well as the allocation source income and the domestic tax liability attributable to each basket must be equal to key of the Main Entity/Parent Entity itself. This formula determines the allocation to each the total current tax expense accrued by the Main Entity/Parent Entity. An allocation must such Entity. be positive or zero. The methodology cannot result in a negative allocation to any basket.

52.28 For the purposes of allocating Covered Taxes under Article 4.3.2, the relevant 52.32. The remaining steps in the formula are then also calculated separately for each allocations are those with respect to each Permanent Establishment and distributing category or basket of income. The Cross-Crediting Allocation Key for each PE or Entity Constituent Entity. However, the MNE Group’s allocation of Covered Taxes ought to be for each basket is calculated separately from that PE’s or Entity’s allocations with respect consistent with the hypothetical allocations. For example, to the extent that tax has been to other baskets. Accordingly, the formula to determine the allocation to a given Permanent paid with respect to a distribution from a non-Constituent Entity which is not included in Establishment or distributing Constituent Entity is as follows: the Parent Entity’s GloBE Income, that amount is not included in the Adjusted Covered Taxes of the Main Entity/Parent Entity. To the extent that the cross-crediting allocation mechanism allocates tax to non-GloBE Entities (i.e. Entities that are not Constituent 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴 𝑒𝑒𝐴𝐴𝐴𝐴ℎ 𝑃𝑃𝑃𝑃 𝐴𝐴𝑜𝑜 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 Entities, Joint Ventures or JV Subsidiaries) in which it has a direct or indirect Ownership = 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴 Interest, that amount of tax must be allocated to such non-GloBE Entities to ensure that 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜 𝐴𝐴ℎ𝑒𝑒 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴

× ( such tax is properly excluded from the Adjusted Covered Taxes of the Constituent Entities, 𝑇𝑇ℎ𝑒𝑒 𝑇𝑇𝑠𝑠𝑠𝑠 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝑜𝑜𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝑜𝑜𝑒𝑒𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐾𝐾𝑒𝑒𝐸𝐸𝑇𝑇 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴). Joint Ventures or JV Subsidiaries of the MNE Group for GloBE purposes where the distribution is not included in the GloBE Income or Loss of the Main Entity/Parent Entity. Tax allocable to non-Constituent Entities will not be excluded from the Adjusted Covered The sum of all Cross-Crediting Allocation Keys in the Basket (that is, the denominator in Taxes of the Main Entity/Parent Entity if the distribution is included in the Main this formula) includes the Cross-Crediting Allocation Keys of the Main Entity/Parent Entity Entity/Parent Entity’s GloBE Income or Loss (for example, if the Main Entity/Parent Entity itself, all Permanent Establishments and all other distributing Entities (including nonhas a Short-term Portfolio Shareholding in the distributing Entity). Constituent Entities).

52.29. The above formula is used to allocate Covered Taxes accrued in current tax 52.33. A Permanent Establishment or distributing Entity may have an allocation with expense by a Main Entity/Parent Entity under its domestic tax system to its Permanent respect to multiple baskets. In such cases, the total allocation to that Permanent Establishments and distributing Constituent Entity subsidiaries. Where the above formula Establishment or Entity will be the sum of its allocation with respect to each basket. allocates Covered Taxes to a Permanent Establishment or distributing Constituent Entity

52.34. The Inclusive Framework will further consider the impact of post-filing adjustments which have been incurred with respect to an amount excluded from GloBE Income or

with respect to the application of the cross-crediting allocation mechanism and its Loss, the Permanent Establishment or distributing Constituent Entity must then exclude

interaction with Article 4.6.1. those Covered Taxes under Article 4.1.3(a) in order to determine its Adjusted Covered Taxes. This principle applies to any other applicable adjustment under Article 4.1.3. 52.30. Where the domestic tax system of the Main Entity/Parent Entity allows only for cross-crediting within particular categories or ‘baskets’ of income, the above formula must be modified to determine the allocation within each basket of income. The Allocable Covered Taxes for each basket are calculated using the following formula:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐶𝐶𝐴𝐴𝐶𝐶𝑒𝑒𝑜𝑜𝑒𝑒𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝑒𝑒𝑇𝑇 𝑓𝑓𝐴𝐴𝑜𝑜 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴 𝐴𝐴

= (𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝑠𝑠𝑜𝑜𝑜𝑜𝑒𝑒𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝑒𝑒𝑇𝑇𝑒𝑒𝑒𝑒𝐴𝐴𝑇𝑇𝑒𝑒 𝐴𝐴𝐴𝐴𝐴𝐴𝑜𝑜𝑠𝑠𝑒𝑒𝐶𝐶 𝐴𝐴𝐴𝐴 𝐴𝐴ℎ𝑒𝑒 𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸

/ 𝑃𝑃𝐴𝐴𝑜𝑜𝑒𝑒𝐴𝐴𝐴𝐴 𝑃𝑃𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑗𝑗𝑠𝑠𝑜𝑜𝐴𝐴𝑇𝑇𝐶𝐶𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴

− 𝐶𝐶𝐴𝐴𝑠𝑠𝑒𝑒𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝑤𝑤𝐴𝐴𝐴𝐴ℎ𝐴𝐴𝑠𝑠𝐴𝐴 𝑜𝑜𝑒𝑒𝑟𝑟𝐴𝐴𝑜𝑜𝐶𝐶 𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝐸𝐸 𝑓𝑓𝐴𝐴𝑜𝑜𝑒𝑒𝐴𝐴𝑟𝑟𝐴𝐴 𝑇𝑇𝐴𝐴𝑠𝑠𝑜𝑜𝐴𝐴𝑒𝑒 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑠𝑠𝑒𝑒

− 𝐶𝐶𝐴𝐴𝑠𝑠𝑒𝑒𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴 𝐴𝐴𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐸𝐸 𝐴𝐴𝐴𝐴𝐴𝐴𝑜𝑜𝐴𝐴𝐴𝐴𝑠𝑠𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑒𝑒 𝐴𝐴𝐴𝐴 𝑜𝑜𝑒𝑒𝑠𝑠𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑟𝑟 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝑒𝑒𝐴𝐴𝑇𝑇)

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51. Paragraphs 53 and 54 of the Commentary to Article 4.3.2 are revised to read as follows: 53. The above principles are to be applied with respect to other circumstances

in which a domestic tax regime allows for the cross-crediting of foreign taxes on income from different sources. The purpose of the formula is to provide a common mechanism for allocating taxes which arise as a result of a domestic tax calculation which combines attributes from multiple different jurisdictions. The mechanism must take into account the design of the domestic tax system and make reasonable

assumptions. In the case of a Flow-through Entity Article 4.3.2(a) allocates, in accordance with the allocation of GloBE Income or Loss pursuant to Article 3.5.1(a), the underlying taxes to the PE. If for instance the Constituent Entity-owner of a Flow-through Entity (such as a partner of Tax Transparent Entity that is a partnership which is itself also a Constituent Entity) is required to pay the tax with respect to the income attributable to the PE due to the activities undertaken through a Tax Transparent Entity that tax is allocated pursuant to Article 4.3.2 (a) from the Partner to that PE. The principles outlined

in paragraphs 52 to 52.33 are also applicable to other Covered Taxes which are to be allocated under Article 4.3.2, such as CFC Taxes under Article 4.3.2(c), taxes in respect of the income of Hybrid Entities or Reverse Hybrid Entities under Article 4.3.2(d), and taxes on distributions from a Constituent Entity under Article 4.3.2(e). For example, a Hybrid Entity may be treated as equivalent to a foreign Permanent Establishment under an applicable domestic tax regime and included in a crosscrediting ‘pool’ or ‘basket’ of foreign source income. In such cases, the principles outlined in paragraphs 52 to 52.33 are applied to allocate Covered Taxes to that Hybrid Entity as part of the relevant ‘pool’ or ‘basket’ of cross-credited foreign source income. Where a cross-border allocation of Covered Tax would be made to a CFC (under Article 4.3.2(c)), Hybrid Entity (under Article 4.3.2(d)) or Reverse Hybrid Entity (under Article 4.3.2(d)) under this methodology, the limitation in Article 4.3.3 with respect to Passive Income will limit the cross-border allocation (where applicable). Where the limitation in Article 4.3.3 applies, any tax amount will remain with the Constituent Entity-owner and will not be reallocated to another Entity under the formula.

54. There may be occasions where multiple Constituent Entities under the

GloBE Rules are recognised as only a single entity for the purposes of applying the Main Entity/Parent Entity’s tax regime. For example, a Parent Entity jurisdiction’s CFC Tax Regime may only recognise a single CFC where the CFC has a Permanent Establishment or the CFC owns another Entity which is disregarded (treated as part of the CFC) for the purposes of the Main Entity/Parent Entity’s tax regime. The GloBE Rules require a mechanism of allocating CFC taxes of the Parent Entity between the CFC and the CFC’s Permanent Establishment. In such cases, foreign source income of the single entity recognised under the Main Entity/Parent Entity’s tax regime must be allocated between the Constituent Entities which form a part of that single recognised entity (which may be separate tested units under the applicable Main Entity/Parent Entity tax regime). This allocation must be done by reference to the applicable Main Entity/Parent Entity tax regime. For instance, where the Main Entity/Parent Entity’s tax return requires separate disclosure of the attributable foreign source income from Constituent Entity as a separate taxable unit (for example, a tested unit or qualified business unit), this must be used for allocating the foreign source income between the Constituent Entities. The creditable foreign taxes with respect to each such Constituent Entity must be separately determined and cannot be allocated proportionately to the foreign source income itself. Creditable foreign taxes must have been paid with respect to

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51. Paragraphs 53 and 54 of the Commentary to Article 4.3.2 are revised to read as follows: the relevant foreign source income. Recognizing that there is significant variation in

how countries impose tax on PEs (including variation in the treatment of losses and foreign 53. The above principles are to be applied with respect to other circumstances

tax credits), as discussed in the first paragraphs of the Commentary to this Article, the

in which a domestic tax regime allows for the cross-crediting of foreign taxes on

GloBE Implementation Framework includes the development of a common methodology

income from different sources. The purpose of the formula is to provide a common

to determine the amount of Covered Taxes allocated from a Constituent Entity to a PE in

mechanism for allocating taxes which arise as a result of a domestic tax calculation

connection with specific country regimes.

which combines attributes from multiple different jurisdictions. The mechanism must take into account the design of the domestic tax system and make reasonable

assumptions. In the case of a Flow-through Entity Article 4.3.2(a) allocates, in

3.2¶Clarification of Article 3.4.5

accordance with the allocation of GloBE Income or Loss pursuant to Article 3.5.1(a), the

underlying taxes to the PE. If for instance the Constituent Entity-owner of a Flow-through

3.2.1¶Introduction and issue presented

Entity (such as a partner of Tax Transparent Entity that is a partnership which is itself also

a Constituent Entity) is required to pay the tax with respect to the income attributable to

52. The methodology for allocation of Main Entity tax on PE income set out above references the the PE due to the activities undertaken through a Tax Transparent Entity that tax is

domestic tax rules to determine the extent to which current tax expense is accrued with respect to the PE allocated pursuant to Article 4.3.2 (a) from the Partner to that PE. The principles outlined

income. A similar issue arises with respect to determining the extent to which the loss of a PE is taken into

in paragraphs 52 to 52.33 are also applicable to other Covered Taxes which are to

account of the Main Entity when there are other PEs with income.

be allocated under Article 4.3.2, such as CFC Taxes under Article 4.3.2(c), taxes in

respect of the income of Hybrid Entities or Reverse Hybrid Entities under Article 53. Article 3.4.5 allows a Main Entity to take into account a PE loss in computing its GloBE Income or 4.3.2(d), and taxes on distributions from a Constituent Entity under Article 4.3.2(e). Loss to the extent that such loss is treated as an expense in the computation of the Main Entity’s domestic

For example, a Hybrid Entity may be treated as equivalent to a foreign Permanent taxable income. In determining the extent to which the loss of a PE is treated as an expense of the Main

Establishment under an applicable domestic tax regime and included in a cross- Entity, the domestic rules for measuring PE income for which a tax credit is allowed must be taken into

urce income. In such cases, the principles account including whether the loss is first set off against the income of another PE.

crediting ‘pool’ or ‘basket’ of foreign so outlined in paragraphs 52 to 52.33 are applied to allocate Covered Taxes to that Hybrid Entity as part of the relevant ‘pool’ or ‘basket’ of cross-credited foreign 3.2.2. Guidance source income. Where a cross-border allocation of Covered Tax would be made to

54. The language in bold will be added to paragraph 200 of the Commentary to Article 3.4.5:

a CFC (under Article 4.3.2(c)), Hybrid Entity (under Article 4.3.2(d)) or Reverse

Hybrid Entity (under Article 4.3.2(d)) under this methodology, the limitation in 200. A GloBE Loss of a PE shall be treated as an expense of the Main Entity for purposes of

Article 4.3.3 with respect to Passive Income will limit the cross-border allocation computing its GloBE Income or Loss, to the extent that the loss of the PE is treated as an expense

(where applicable). Where the limitation in Article 4.3.3 applies, any tax amount will in the computation of the domestic taxable income or loss of such Main Entity. This provision

remain with the Constituent Entity-owner and will not be reallocated to another applies irrespective of whether the tax base of the Main Entity takes into account the net loss of

Entity under the formula. the PE or each of its items of income and expense. Thus, if the Main Entity takes into account only

80% of a PE loss in computing its domestic taxable income, then the same percentage of the PE’s 54. There may be occasions where multiple Constituent Entities under the

GloBE Loss is treated as an expense in the computation of the Main Entity’s GloBE Income or

GloBE Rules are recognised as only a single entity for the purposes of applying the

Loss and the remaining 20% is treated as a loss in computing the PE’s GloBE Income or Loss.

Main Entity/Parent Entity’s tax regime. For example, a Parent Entity jurisdiction’s

However, if a PE loss produces a time-limited loss carryforward for the Main Entity it is treated as

CFC Tax Regime may only recognise a single CFC where the CFC has a Permanent

an expense in the computation of the Main Entity’s domestic taxable loss irrespective of whether

Establishment or the CFC owns another Entity which is disregarded (treated as part

such carry-forward expires before it is used in full. In determining the extent that a PE loss is

of the CFC) for the purposes of the Main Entity/Parent Entity’s tax regime. The treated as an expense in the computation of domestic taxable income, proper regard shall GloBE Rules require a mechanism of allocating CFC taxes of the Parent Entity be given to the rules of the Main Entity jurisdiction for determining the PE Income, including between the CFC and the CFC’s Permanent Establishment. In such cases, foreign foreign tax credit rules. For example, if the rules of a Main Entity’s jurisdiction offset PE source income of the single entity recognised under the Main Entity/Parent Entity’s losses against PE income in determining the amount of foreign source income against tax regime must be allocated between the Constituent Entities which form a part of which a foreign tax credit is allowed, then the PE loss should be first allocated to the other that single recognised entity (which may be separate tested units under the PE Income and only the excess above the other PE income should be considered an applicable Main Entity/Parent Entity tax regime). This allocation must be done by expense in the computation of GloBE Income or Loss of the Main Entity. In a case where reference to the applicable Main Entity/Parent Entity tax regime. For instance, where two or more PEs have a loss and those losses are offset by income of one or more other the Main Entity/Parent Entity’s tax return requires separate disclosure of the PEs, the amount of the loss taken into account by the Main Entity under Article 3.4.5 shall attributable foreign source income from Constituent Entity as a separate taxable be apportioned between the loss PEs in proportion to their separate losses as determined unit (for example, a tested unit or qualified business unit), this must be used for under the applicable regime. For example, if PE1 has income of 100 and PE2 and PE3 each allocating the foreign source income between the Constituent Entities. The have losses of 150, the Main Entity will take into account a net loss of 200. That loss shall creditable foreign taxes with respect to each such Constituent Entity must be be considered to have taken into account 100 of loss from PE2 and 100 of loss from PE3 separately determined and cannot be allocated proportionately to the foreign under Article 3.4.5. source income itself. Creditable foreign taxes must have been paid with respect to

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3.2.3¶Examples

Example 4.3.2-3

1. An MNE Group with a UPE in Jurisdiction X is subject to a worldwide tax system applied by Jurisdiction X. Under this tax system, Jurisdiction X imposes tax on both domestic and foreign source income, including dividends received from foreign corporations, and allows a tax credit for taxes paid on foreign source income. Jurisdiction X has a cross-crediting foreign tax credit regime pursuant to which taxes paid in all foreign jurisdictions on all categories of foreign source income are creditable against the UPE’s tax liability arising from foreign source income. Under the Jurisdiction X’s domestic tax regime, the foreign tax credit allowed for any given Fiscal Year cannot exceed the tax liability arising from the income inclusion of foreign sources and the foreign tax credit limitation. 2. The UPE has PEs in jurisdictions A (PE1), B (PE2), and C (PE3) and owns a subsidiary (A Co) in jurisdiction A. The UPE owns 100% of A Co and all of A Co’s after-tax profits are distributed to the UPE annually. For the Fiscal Year, UPE earns domestic source income of 400, PE1 generates income of 100, PE2 generates income of 250, PE3 has a loss of 50, and A Co generates income of 200. All of the PE income is active income. The UPE also derives a royalty income of 100 from a payment from a non- Constituent Entity (B Co) (which is in addition to its 400 of domestic income) and dividend income of 200 from a non-Constituent Entity C Co in jurisdiction B. Jurisdiction X also has a foreign tax credit limitation equal to its domestic tax liability multiplied by the proportion of foreign source income to total income. The dividend income from C Co is included in the UPE’s taxable income under the cross-crediting regime but is not within the UPE’s GloBE Income or Loss.

3. Tax rates in jurisdictions and Tax accrued with respect to the income of the UPE, each PE and the distributing Entity and royalty are as follows:

*Note that both the payment UPE receives from B Co and the dividend received from C Co are included in the taxable income of the UPE in addition to UPE’s 400 of domestic source income. **Note that the figures with respect to C Co in this table reflect UPE’s proportionate share of the income and taxes of C Co. That is, they are 20% of the total income and taxes of C Co. 4. Under the cross-crediting tax system in jurisdiction X:

a. Taxable income of the UPE is 1200 = 400+100+200+250+100-50+200. b. Pre-credit tax liability payable in Jurisdiction X is 240 = 1200×20%. c. Tax accrued in foreign jurisdictions is 89.5 = 5+10+25+9.5+20+20. d. Foreign tax credit limitation is 160 = 240×800/1200. e. Allowed foreign tax credit is 89.5 which is the lower of c and d. f. Tax payable in jurisdiction X is 150.5 = 240-89.5.

5. The Allocable Covered Taxes is determined as follows:

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3.2.3¶Examples

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

Example 4.3.2-3

= 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴

1. An MNE Group with a UPE in Jurisdiction X is subject to a worldwide tax system applied by − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 Jurisdiction X. Under this tax system, Jurisdiction X imposes tax on both domestic and foreign source −𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 income, including dividends received from foreign corporations, and allows a tax credit for taxes paid on = (150.5 – (400 × 20%)) = 70.5. foreign source income. Jurisdiction X has a cross-crediting foreign tax credit regime pursuant to which taxes paid in all foreign jurisdictions on all categories of foreign source income are creditable against the UPE’s tax liability arising from foreign source income. Under the Jurisdiction X’s domestic tax regime, the 6. The Cross-Crediting Allocation Keys for the PEs, distributing Entity and the Main Entity/Parent foreign tax credit allowed for any given Fiscal Year cannot exceed the tax liability arising from the income Entity are determined using the relevant formulae below: inclusion of foreign sources and the foreign tax credit limitation. 2. The UPE has PEs in jurisdictions A (PE1), B (PE2), and C (PE3) and owns a subsidiary (A Co) in

𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝐴𝐴 𝑃𝑃𝐸𝐸 jurisdiction A. The UPE owns 100% of A Co and all of A Co’s after-tax profits are distributed to the UPE

= (𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝑓𝑓𝐶𝐶𝐴𝐴𝑟𝑟 𝑇𝑇ℎ𝐴𝐴 𝑃𝑃𝐸𝐸 × 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑇𝑇𝐴𝐴) annually. For the Fiscal Year, UPE earns domestic source income of 400, PE1 generates income of 100,

′

− 𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝑃𝑃𝐸𝐸 𝑇𝑇 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 PE2 generates income of 250, PE3 has a loss of 50, and A Co generates income of 200. All of the PE income is active income. The UPE also derives a royalty income of 100 from a payment from a non- 𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝑇𝑇𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 Constituent Entity (B Co) (which is in addition to its 400 of domestic income) and dividend income of 200 = (𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝑓𝑓𝐶𝐶𝐴𝐴𝑟𝑟 𝐶𝐶𝑀𝑀𝑇𝑇𝑇𝑇𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 from a non-Constituent Entity C Co in jurisdiction B. Jurisdiction X also has a foreign tax credit limitation × 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑇𝑇𝐴𝐴) equal to its domestic tax liability multiplied by the proportion of foreign source income to total income. The − 𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝑇𝑇𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 dividend income from C Co is included in the UPE’s taxable income under the cross-crediting regime but is not within the UPE’s GloBE Income or Loss.

𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝐴𝐴𝐶𝐶 𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 3. Tax rates in jurisdictions and Tax accrued with respect to the income of the UPE, each PE and the

= (𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐶𝐶𝑀𝑀𝐶𝐶𝐴𝐴𝐴𝐴𝑇𝑇𝐴𝐴𝑏𝑏 𝑓𝑓𝐶𝐶𝐴𝐴𝑟𝑟 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 distributing Entity and royalty are as follows:

× 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑇𝑇𝐴𝐴)

**Note that the figures with respect to C Co in this table reflect UPE’s proportionate share of the

Entity as follows: income and taxes of C Co. That is, they are 20% of the total income and taxes of C Co.

4. Under the cross-crediting tax system in jurisdiction X:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴ℎ 𝑃𝑃𝐸𝐸 𝐴𝐴𝐶𝐶 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 a. Taxable income of the UPE is 1200 = 400+100+200+250+100-50+200.

𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝑇𝑇ℎ𝐴𝐴 𝑃𝑃𝐸𝐸 𝐴𝐴𝐶𝐶 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 𝑇𝑇 ( b. Pre-credit tax liability payable in Jurisdiction X is 240 = 1200×20%. 𝑇𝑇ℎ𝐴𝐴 𝑇𝑇𝑐𝑐𝑟𝑟 𝐴𝐴𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝑇𝑇𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏𝑇𝑇 )

c. Tax accrued in foreign jurisdictions is 89.5 = 5+10+25+9.5+20+20.

d. Foreign tax credit limitation is 160 = 240×800/1200.

Entity Cross-Crediting The sum of all Cross- Allocable Covered Allocation to the Entity e. Allowed foreign tax credit is 89.5 which is the lower of c and d. Allocation key for the Crediting Allocation Taxes

Entity Keys f. Tax payable in jurisdiction X is 150.5 = 240-89.5.

[1] [2] [3] [4] = ([1] / [2]) × [3]

PE1 15 80.5 70.5 13.14 5. The Allocable Covered Taxes is determined as follows:

PE2 25 21.89

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8. The final result is that the Main Entity has accrued 150.5 in Covered Taxes, of which 13.14 is allocated to PE1, 21.89 is allocated to PE2, 17.95 is allocated to A Co and 17.52 is allocated to C Co. As C Co is not part of the MNE Group, this allocation of 17.52 to C Co is not included in the Adjusted Covered Taxes of the MNE Group. The remainder (80) is not reallocated.

Example 4.3.2-4

1. The facts are the same as Example 4.3.2-3, except that Jurisdiction X does not tax UPE’s dividend income or grant any foreign tax credit with respect to foreign dividend income. The tax rates in jurisdictions and Tax accrued with respect to each PE, distributing Entity and royalty income are as follows:

*Note that distributions from A Co and C Co are not included in the UPE’s taxable income under

the UPE’s domestic tax regime in this example.

**Note that the figures with respect to C Co in this table reflect UPE’s proportionate share of the

income and taxes of C Co. That is, they are 20% of the total income and taxes of C Co. 2. In this case, under the cross-crediting tax system:

a. Taxable income of the UPE is 800=400+100+250+100-50. b. Pre-credit tax liability payable in Jurisdiction X is 160=800×20%. c. Tax accrued in foreign jurisdictions is 50=5+25+20. d. Foreign tax credit limitation is 80=160×400/800. e. Allowed tax credit is 50 which is the lower of c and d. f. Tax payable in jurisdiction X is 110=160-50.

3. The Allocable Covered Taxes is determined as follows:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 = 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝑇𝑇 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝑇𝑇ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝑇𝑇𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝑇𝑇 𝑇𝑇𝐴𝐴 𝑇𝑇ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 −𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇

(110 - (400×20%)) = 30

4. The Cross-Crediting Allocation Key for each Entity is computed as set out below:

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PE3 0 0 Entity Main Entity taxable Applicable tax rate Tax accrued with Cross-Crediting Allocation

C Co is not part of the MNE Group, this allocation of 17.52 to C Co is not included in the Adjusted Covered Taxes of the MNE Group. The remainder (80) is not reallocated. 5. The Allocable Covered Taxes of 30 is allocated to each Entity as follows:

Entity Cross-Crediting The sum of all Cross- Allocable Covered Allocation to the Entity

Example 4.3.2-4

Allocation key for the Crediting Allocation Taxes Entity Keys

1. The facts are the same as Example 4.3.2-3, except that Jurisdiction X does not tax UPE’s dividend

Jurisdiction X. Under this tax system, Jurisdiction X imposes tax on both domestic and foreign source *Note that distributions from A Co and C Co are not included in the UPE’s taxable income under

income and allows a tax credit for taxes paid on foreign source income. Jurisdiction X allows cross-crediting the UPE’s domestic tax regime in this example.

of Taxes, but only within certain categories of foreign-source income, i.e., foreign branch income basket, **Note that the figures with respect to C Co in this table reflect UPE’s proportionate share of the passive income basket, etc. Foreign tax credit limitations are also computed based on the categories. The income and taxes of C Co. That is, they are 20% of the total income and taxes of C Co. foreign branch income basket includes the income from all Permanent Establishments. The passive

income basket includes the income from both royalty payments and distributions received by the UPE. 2. In this case, under the cross-crediting tax system:

2. The UPE has PEs in jurisdictions A (PE1), and B (PE2) and owns a subsidiary (C Co) in jurisdiction a. Taxable income of the UPE is 800=400+100+250+100-50.

C. The UPE owns 100% of C Co and all of C Co’s after-tax profits are distributed to the UPE annually. For b. Pre-credit tax liability payable in Jurisdiction X is 160=800×20%.

the Fiscal Year, UPE earns domestic income of 400, PE1 generates income of 100, PE2 generates income c. Tax accrued in foreign jurisdictions is 50=5+25+20. of 200. All of the PE income is active income. C Co earns income of 200. The UPE also derives a royalty d. Foreign tax credit limitation is 80=160×400/800. income of 100 from a non-Constituent Entity (B Co) (which is in addition to its domestic income of 400) in

jurisdiction B and a dividend of 200 from a non-Constituent Entity (D Co) in jurisdiction C. e. Allowed tax credit is 50 which is the lower of c and d.

3. Tax rates in jurisdictions and Tax accrued with respect to each PE, distributing Entity and royalty f. Tax payable in jurisdiction X is 110=160-50.

income are as follows: 3. The Allocable Covered Taxes is determined as follows:

− 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝑇𝑇𝑀𝑀𝐴𝐴 𝑇𝑇𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝑇𝑇𝑏𝑏 𝑤𝑤𝑀𝑀𝑇𝑇ℎ𝐴𝐴𝑐𝑐𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 from B Co −𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 payment Jurisdiction C C Co 200 5% 10 5% 9.5 (110 - (400×20%)) = 30 D Co 200 5% 10 5% 9.5

4. In this case, under the cross-crediting tax system: 4. The Cross-Crediting Allocation Key for each Entity is computed as set out below: a. Taxable income of the UPE is 1200 = 400+100+200+100+200+200.

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024 TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

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b. Pre-credit tax liability payable in Jurisdiction X is 240 = 1200×20%. c. With respect to the Branch Income basket: • The Tax accrued is 85 (25 + 60). • The foreign tax credit limitation is 60 = 240 × ((100+200)/1200). • The allowed foreign tax credit is 60 (foreign tax credits are limited). d. With respect to the Passive Income basket: • The Tax accrued is 59 = 20+10+9.5+10+9.5. • The foreign tax credit limitation is 100 = 240 × ((100+200+200)/1200). • The allowed foreign tax credit is 59 (foreign tax credits are not limited). e. Tax payable in jurisdiction X is 121 = 240 - 59 - 60.

5. The Allocable Covered Taxes are determined as follows:

𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 𝑓𝑓𝐴𝐴𝐶𝐶 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝐴𝐴𝐵𝐵 𝐴𝐴

= 𝑇𝑇𝐴𝐴𝐵𝐵𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝐵𝐵 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝐵𝐵ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏 𝑤𝑤𝑀𝑀𝐵𝐵ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝐵𝐵 𝐵𝐵𝐴𝐴 𝐵𝐵ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴

− 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝐵𝐵𝑀𝑀𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝐵𝐵𝑏𝑏 𝑤𝑤𝑀𝑀𝐵𝐵ℎ𝐴𝐴𝑐𝑐𝐵𝐵 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝐵𝐵𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴

−𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝐵𝐵𝑀𝑀𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝐵𝐵𝑏𝑏 𝐴𝐴𝐵𝐵𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑀𝑀𝑐𝑐𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝑇𝑇𝐵𝐵𝐴𝐴𝐵𝐵𝑇𝑇

Allocable Covered Taxes for the Branch Income Basket

= 121 – (400 x 20%) – 41 = 0.

Allocable Covered Taxes for the Passive Income Basket

= 121 – (400 x 20%) – 0 = 41.

6. In this example, there have been no taxes imposed on the UPE with respect to the Branch Income Basket. This is because there were sufficient allowable foreign tax credits in the basket to fully displace any further taxation arising in the Main Entity/Parent Entity. Put differently, the allowable tax credits exceeded the pre-credit domestic tax liability that would have arisen with respect to the income in the Branch Income basket. However, there has been additional tax paid in Jurisdiction X with respect to income in the Passive Income Basket. The allowable foreign tax credits do not fully displace the pre-tax credit liability arising with respect to this income. Accordingly, 41 is allocable to the Passive Income Basket. The Passive Income basket is composed of three amounts – an amount from a taxable distribution from C Co (a CE), an amount from a taxable distribution from D Co (a Non-CE) and an amount attributable to the payment income from B Co (a 3rd party). 7. The Passive Income Basket does not contain a Permanent Establishment. However, there are distributions from a Constituent Entity (C Co) and a non-Constituent Entity (D Co). The Cross-Crediting Allocation Keys are given by the formulae:

𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝐵𝐵𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝑐𝑐𝑟𝑟 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏

= (𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝐵𝐵 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏 𝐵𝐵𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝑓𝑓𝐶𝐶𝐴𝐴𝑟𝑟 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐

× 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝐵𝐵𝐴𝐴)

− creditable foreign taxes accrued with respect 𝐵𝐵𝐴𝐴 𝐵𝐵ℎ𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐

Cross-Crediting Allocation Key for C Co = (200 × 20%) – 19.5 = 20.5.

Cross-Crediting Allocation Key for D Co = (200 × 20%) – 19.5 = 20.5

TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY – ADMINISTRATIVE GUIDANCE ON THE GLOBAL ANTI-BASE EROSION MODEL RULES (PILLAR TWO), JUNE 2024 © OECD 2024

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 77 78 

b. Pre-credit tax liability payable in Jurisdiction X is 240 = 1200×20%. 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐶𝐶 𝑃𝑃𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 c. With respect to the Branch Income basket: = (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑠𝑠𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶) • The Tax accrued is 85 (25 + 60). − 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑠𝑠𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝑠𝑠𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 • The foreign tax credit limitation is 60 = 240 × ((100+200)/1200). Cross-Crediting Allocation Key for UPE = (100 × 20%) – 20 = 0. • The allowed foreign tax credit is 60 (foreign tax credits are limited).

d. With respect to the Passive Income basket: • The Tax accrued is 59 = 20+10+9.5+10+9.5. 8. Accordingly, allocations to C Co and D Co are given by the formula: • The foreign tax credit limitation is 100 = 240 × ((100+200+200)/1200). 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝐴𝐴ℎ 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 • The allowed foreign tax credit is 59 (foreign tax credits are not limited). = 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝑣𝑣𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐵𝐵𝐴𝐴𝐶𝐶𝐵𝐵𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐸𝐸𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐵𝐵𝐴𝐴𝐶𝐶𝐵𝐵𝐶𝐶𝐶𝐶 e. Tax payable in jurisdiction X is 121 = 240 - 59 - 60. × ( 𝑇𝑇ℎ𝐶𝐶 𝐶𝐶𝑠𝑠𝑖𝑖 𝐶𝐶𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝐵𝐵𝐴𝐴𝐶𝐶𝐵𝐵𝐶𝐶𝐶𝐶). 5. The Allocable Covered Taxes are determined as follows: Allocation to C Co = 41 x (20.5 / (20.5+20.5)) = 20.5.

Allocation to D Co = 41 × (20.5 / (20.5+20.5)) = 20.5. 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶𝐴𝐴𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 𝑓𝑓𝐴𝐴𝐶𝐶 𝐵𝐵𝐴𝐴𝑇𝑇𝐵𝐵𝐴𝐴𝐵𝐵 𝐴𝐴 9. The final result is that the UPE has accrued 121 in Covered Taxes, of which 20.5 is allocated to C = 𝑇𝑇𝐴𝐴𝐵𝐵𝐴𝐴𝐴𝐴 𝐴𝐴𝑐𝑐𝐶𝐶𝐶𝐶𝐴𝐴𝑐𝑐𝐵𝐵 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝑐𝑐𝑇𝑇𝐴𝐴 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑐𝑐𝐴𝐴𝐶𝐶 𝐴𝐴𝑏𝑏 𝐵𝐵ℎ𝐴𝐴 𝑀𝑀𝐴𝐴𝑀𝑀𝑐𝑐 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏 𝑤𝑤𝑀𝑀𝐵𝐵ℎ 𝐶𝐶𝐴𝐴𝑇𝑇𝑒𝑒𝐴𝐴𝐴𝐴𝐵𝐵 𝐵𝐵𝐴𝐴 𝐵𝐵ℎ𝐴𝐴 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝑟𝑟𝑀𝑀𝑟𝑟𝐴𝐴 Co, 20.5 is allocated to D Co which is not included in the Adjusted Covered Taxes of the MNE Group and − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝐵𝐵𝑀𝑀𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝐵𝐵𝑏𝑏 𝑤𝑤𝑀𝑀𝐵𝐵ℎ𝐴𝐴𝑐𝑐𝐵𝐵 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝐶𝐶𝐶𝐶 𝐵𝐵𝐴𝐴 𝐴𝐴𝑐𝑐𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶𝐴𝐴𝑀𝑀𝑟𝑟𝑐𝑐 𝑇𝑇𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 the remainder (80) is not reallocated. −𝐵𝐵𝐴𝐴𝐴𝐴𝑐𝑐𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑇𝑇𝐴𝐴𝑇𝑇 − 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑇𝑇𝐵𝐵𝑀𝑀𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝑀𝑀𝐴𝐴𝑀𝑀𝐵𝐵𝑏𝑏 𝐴𝐴𝐵𝐵𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴 𝐶𝐶𝐴𝐴𝑟𝑟𝐴𝐴𝑀𝑀𝑐𝑐𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝑇𝑇𝐵𝐵𝐴𝐴𝐵𝐵𝑇𝑇

Allocable Covered Taxes for the Branch Income Basket Example 4.3.2-6

= 121 – (400 x 20%) – 41 = 0. 1. UPE is located in Jurisdiction X. UPE has a PE (PE1) and a wholly-owned CFC (A Co) located in Allocable Covered Taxes for the Passive Income Basket Jurisdiction A. UPE has a wholly owned CFC B1 Co (in Jurisdiction B) and C Co (in Jurisdiction C). It also has a 20% Ownership Interest in B2 Co (also located in Jurisdiction B). For the Fiscal Year, the income of = 121 – (400 x 20%) – 0 = 41. these entities and the tax accrued with respect to the jurisdiction in which they are located are set out in the table below. None of the income is Passive Income for the purposes of Article 4.3.3.

6. In this example, there have been no taxes imposed on the UPE with respect to the Branch Income Jurisdiction Entity Income Corporate income Corporate Basket. This is because there were sufficient allowable foreign tax credits in the basket to fully displace tax rate income tax Jurisdiction X UPE 300 30% 90 any further taxation arising in the Main Entity/Parent Entity. Put differently, the allowable tax credits Jurisdiction A PE1 50 20% 10 exceeded the pre-credit domestic tax liability that would have arisen with respect to the income in the

by UPE) liability arising with respect to this income. Accordingly, 41 is allocable to the Passive Income Basket. The

Jurisdiction C C Co 200 5% 10 Passive Income basket is composed of three amounts – an amount from a taxable distribution from C Co

(a CE), an amount from a taxable distribution from D Co (a Non-CE) and an amount attributable to the 2. Jurisdiction X operates a worldwide tax system and includes both domestic and foreign income of payment income from B Co (a 3rd party). foreign permanent establishments and CFCs. A Co, B1 Co, B2 Co and C Co are all CFCs under the tax

regime applicable in Jurisdiction X and UPE is required to include in its taxable income the UPE’s 7. The Passive Income Basket does not contain a Permanent Establishment. However, there are

proportionate share of their respective income. Jurisdiction X allows for tax credits paid on foreign income distributions from a Constituent Entity (C Co) and a non-Constituent Entity (D Co). The Cross-Crediting

and operates a cross-crediting system within certain categories of income. It has three relevant baskets. Allocation Keys are given by the formulae:

First, there is a basket for the income of foreign permanent establishments. Second, there is a basket for

income of CFCs which are located in jurisdictions with nominal tax rates below 10% (low tax CFC basket).

Third, there is a basket for income of CFCs which are located in jurisdictions with nominal tax rates above

𝐶𝐶𝐶𝐶𝐴𝐴𝑇𝑇𝑇𝑇 − 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑀𝑀𝐵𝐵𝑀𝑀𝑐𝑐𝑟𝑟 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐 𝐾𝐾𝐴𝐴𝑏𝑏 𝑓𝑓𝐴𝐴𝐶𝐶 𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝑐𝑐𝑟𝑟 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏

10% (non-low tax CFC basket). The foreign tax credit limitation is applied separately with respect to each

= (𝑃𝑃𝐴𝐴𝐶𝐶𝐴𝐴𝑐𝑐𝐵𝐵 𝐸𝐸𝑐𝑐𝐵𝐵𝑀𝑀𝐵𝐵𝑏𝑏 𝐵𝐵𝐴𝐴𝑇𝑇𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝑀𝑀𝑐𝑐𝐴𝐴𝐴𝐴𝑟𝑟𝐴𝐴 𝐴𝐴𝐶𝐶𝑀𝑀𝑇𝑇𝑀𝑀𝑐𝑐𝑟𝑟 𝑓𝑓𝐶𝐶𝐴𝐴𝑟𝑟 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐

basket or category of income.

× 𝐴𝐴𝑒𝑒𝑒𝑒𝐴𝐴𝑀𝑀𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐵𝐵𝐴𝐴𝑇𝑇 𝐶𝐶𝐴𝐴𝐵𝐵𝐴𝐴)

− creditable foreign taxes accrued with respect 𝐵𝐵𝐴𝐴 𝐵𝐵ℎ𝐴𝐴 𝐶𝐶𝑀𝑀𝑇𝑇𝐵𝐵𝐶𝐶𝑀𝑀𝐴𝐴𝑐𝑐𝐵𝐵𝑀𝑀𝐴𝐴𝑐𝑐 3. In this case, under the cross-crediting tax system:

Cross-Crediting Allocation Key for C Co = (200 × 20%) – 19.5 = 20.5. a. Taxable income of the UPE is 1000 (300 + 150 + 50 + 200 + (500×20%) + 200).

Cross-Crediting Allocation Key for D Co = (200 × 20%) – 19.5 = 20.5 b. Pre-credit tax liability payable in Jurisdiction X is 300 = 1000×30%.

c. With respect to the Branch Income basket:

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Bilaga 1

 79

• The foreign source income is 50 • The Tax accrued is 10. • The foreign tax credit limitation is 15 (300 x (50/1000)).

• The allowed foreign tax credit is 10 (the foreign tax credits limitation does not

apply). • The branch income basket tax liability is 5 ((50 x 30%) – 10). d. With respect to the low tax jurisdiction CFC basket: • The foreign source income is 200. • The Tax accrued is 10. • The foreign tax credit limitation is 60 (300 x (200/1000)).

• The allowed foreign tax credit is 10 (the foreign tax credits limitation does not

apply). • The low tax jurisdiction CFC basket tax liability is 50 ((200 x 30%) – 10). e. With respect to the non-low tax jurisdiction CFC basket: • The foreign source income is 450 (150 + 200 + (500 x 20%)). • The Tax accrued is 105 (30 + 50 + 25). • The foreign tax credit limitation is 135 (300 x (450/1000)).

• The allowed foreign tax credit is 105 (the foreign tax credits limitation does

not apply).

• The non-low tax jurisdiction CFC basket tax liability is 30 ((450 × 30%) – 105)

f. Total tax payable in jurisdiction X is 175 (300 – 10 – 10 – 105). 4. The Allocable Covered Taxes for each basket is given by subtracting from the total tax liability accrued the domestic tax liability calculated without regard to any foreign source income as well as the allocations to the other relevant baskets. In this case, there is 175 of total tax payable and 90 (300 x 30%) is referable to domestic source income. The remaining 85 (175 – (300 x 30%)) must be allocated between the three baskets taking into account the design of the relevant tax system. In this case, the allocations for each basket are:

a. 5 to the branch income basket (175 – (300 x 30%) – (50 + 30)); b. 50 to the low tax jurisdiction CFC basket (175 – (300 x 30%) – (5 + 30); and c. 30 to the non-low tax jurisdiction CFC basket (175 – (300 x 30%) – (5 + 50)).

5. All 5 of Allocable Covered Taxes in the branch income basket is allocated to the PE as the PE is the only entity with foreign source income in that basket. Accordingly, there is 5 in Covered Taxes allocated from UPE to PE under Article 4.3.2(a). 6. All 50 of the Allocable Covered Taxes in the low tax jurisdiction CFC basket is allocated to C Co as C Co is the only entity with foreign source income in that basket. Accordingly, 50 in Covered Taxes is allocated from UPE to C Co under Article 4.3.2(c). None of the income is Passive Income so Article 4.3.3 does not apply. 7. The 30 of Allocable Covered Taxes in the non-low tax jurisdiction CFC basket must be allocated between A Co, B1 Co and B2 Co in accordance with their respective Cross-Crediting Allocation Keys. The Cross-Crediting Allocation Keys are as follows:

a. A Co is 15 ((150 x 30%) – 30).

b. B1 Co is 10 ((200 x 30%) – 50).

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Bilaga 1

 79 80 

• The foreign source income is 50 c. B2 Co is 5 ((500 x 20%) x 30%) – (125 x 20%).

• The Tax accrued is 10.

8. Accordingly, the allocation to each entity is as follows: • The foreign tax credit limitation is 15 (300 x (50/1000)).

a. The cross-crediting allocation formula makes an allocation to A Co of 15 (30 x 15/30). This is

• The allowed foreign tax credit is 10 (the foreign tax credits limitation does not

allocated from UPE to A Co under Article 4.3.2(c). None of this income is Passive Income and

apply).

therefore Article 4.3.3 does not apply.

• The branch income basket tax liability is 5 ((50 x 30%) – 10).

b. The cross-crediting allocation formula makes an allocation to B1 Co of 10 (30 x 10/30). This is

d. With respect to the low tax jurisdiction CFC basket:

allocated from UPE to B1 Co under Article 4.3.2(c). None of this income is Passive Income and

• The foreign source income is 200. therefore Article 4.3.3 does not apply.

• The Tax accrued is 10.

c. The cross-crediting allocation formula makes an allocation to B2 Co of 5 (30 x 5/30). However,

• The foreign tax credit limitation is 60 (300 x (200/1000)). as B2 Co is not a Constituent Entity, there is no allocation of Covered Taxes to B2 Co under

• The allowed foreign tax credit is 10 (the foreign tax credits limitation does not Article 4.3.2.

apply).

9. The income of B2 Co is not included in the GloBE Income of UPE. Accordingly, the 5 in Covered

• The low tax jurisdiction CFC basket tax liability is 50 ((200 x 30%) – 10). Taxes which has been allocated to B2 Co under the formula is excluded from the Adjusted Covered Taxes

e. With respect to the non-low tax jurisdiction CFC basket: of UPE under Article 4.1.3(a).

• The foreign source income is 450 (150 + 200 + (500 x 20%)).

Example 4.3.2-7

• The Tax accrued is 105 (30 + 50 + 25).

• The foreign tax credit limitation is 135 (300 x (450/1000)). 1. Jurisdiction X has a worldwide tax system with cross-crediting and a foreign tax credit limitation

which is calculated by reference to baskets of foreign source income. A Main Entity operating in Jurisdiction

• The allowed foreign tax credit is 105 (the foreign tax credits limitation does

X has PE1 operating in Jurisdiction A. PE1 has 200 of GloBE Income which is all included in the taxable

not apply).

income of Main Entity. PE1 has accrued 30 in Covered Taxes to Jurisdiction A on this income (at a 15%

• The non-low tax jurisdiction CFC basket tax liability is 30 ((450 × 30%) – 105)

rate). The Main Entity also has 300 of domestic income (which takes into account 100 of domestic

f. Total tax payable in jurisdiction X is 175 (300 – 10 – 10 – 105). deductions which are allocated to the foreign source income both for the purposes of determining taxable

income from foreign sources and applying the foreign tax credit limitation in Jurisdiction X but are not 4. The Allocable Covered Taxes for each basket is given by subtracting from the total tax liability

deductible under the tax system in the PE Jurisdiction). accrued the domestic tax liability calculated without regard to any foreign source income as well as the allocations to the other relevant baskets. In this case, there is 175 of total tax payable and 90 (300 x 30%) 2. The Main Entity’s tax liability in Jurisdiction X is calculated as follows: is referable to domestic source income. The remaining 85 (175 – (300 x 30%)) must be allocated between

a. Taxable Income = 500 (100 + 400). the three baskets taking into account the design of the relevant tax system. In this case, the allocations for each basket are: b. Tax rate = 20%.

a. 5 to the branch income basket (175 – (300 x 30%) – (50 + 30)); c. Pre-foreign tax credit tax liability = 100.

b. 50 to the low tax jurisdiction CFC basket (175 – (300 x 30%) – (5 + 30); and d. Foreign Source Income after allocable expenses = 100 (200 – 100).

c. 30 to the non-low tax jurisdiction CFC basket (175 – (300 x 30%) – (5 + 50)). e. Gross foreign tax credits = 30.

5. All 5 of Allocable Covered Taxes in the branch income basket is allocated to the PE as the PE is f. Allowable foreign tax credits = 20 = 100×100/500. the only entity with foreign source income in that basket. Accordingly, there is 5 in Covered Taxes allocated

g. Tax liability = 80 (100 – 20). from UPE to PE under Article 4.3.2(a).

6. All 50 of the Allocable Covered Taxes in the low tax jurisdiction CFC basket is allocated to C Co as C Co is the only entity with foreign source income in that basket. Accordingly, 50 in Covered Taxes is 3. The GloBE calculation applies as follows: allocated from UPE to C Co under Article 4.3.2(c). None of the income is Passive Income so Article 4.3.3

a. Step 1 - Calculate the foreign source income of each PE and Entity does not apply.

i. The foreign source income of PE1 is 100 (200 of income from PE1 is included in the Main 7. The 30 of Allocable Covered Taxes in the non-low tax jurisdiction CFC basket must be allocated

Entity’s taxable income but 100 of the expenses of the Main Entity are allocated to PE1 between A Co, B1 Co and B2 Co in accordance with their respective Cross-Crediting Allocation Keys. The

both for the purposes of calculating the taxable income from foreign sources and applying Cross-Crediting Allocation Keys are as follows:

the foreign tax credit limitation).

a. A Co is 15 ((150 x 30%) – 30).

ii. The Main Entity has no foreign source income.

b. B1 Co is 10 ((200 x 30%) – 50).

b. Step 2 – determine the Allocable Covered Taxes for the foreign branch basket

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i. The Allocable Covered Taxes for the basket are determined by starting with the total tax

liability (80) and subtracting the domestic tax liability calculated without regard to foreign

source income. Where domestic expenses are allocated to foreign source income for the

purposes of the foreign tax credit limitation, they are excluded from the determination of

domestic source income. Accordingly, there is 400 of domestic source income (which is

the domestic source income of 300 and then adding back 100 in expense allocated to

foreign source income for the purposes of the foreign tax credit liability). The hypothetical

domestic tax liability on this income is 80 (400 x 20%).

ii. Accordingly, the Allocable Covered Taxes for the foreign branch basket is 0 (80 – 80).

There are no Allocable Covered Taxes.

c. As there are no Allocable Covered Taxes to be allocated, the remaining steps are unnecessary. 4. In this example, there is no amount of Main Entity taxation to allocate to the PE. Jurisdiction X’s domestic tax system requires an allocation of expenses for the purposes of determining foreign source income and applying its foreign tax credit limitation (200 – 100). The PE has accrued 30 of tax with respect to this income which exceeds the pre-tax credit liability which arises with respect to this income. Accordingly, there is no amount to allocate to the PE.

Example 4.3.2-8

1. Jurisdiction X has a worldwide tax system with cross-crediting and a foreign tax credit limitation which is calculated by reference to baskets of foreign source income. A Main Entity operating in Jurisdiction X has PE1 and PE2 operating in Jurisdictions A and B respectively. PE1 has 100 of GloBE Income which is all included in the taxable income of Main Entity. PE1 has accrued 5 in Covered Taxes to Jurisdiction A on this GloBE Income (at a 5% rate). PE2 has 200 of GloBE Income which is all included in the taxable income of the Main Entity. PE2 has accrued 10 of Covered Tax (at a 5% rate). There are no expenses allocated to PE1 under this methodology. The Main Entity also has 300 of domestic income taking into account the 200 of deductions which are allocated to the foreign source income only for the purposes of applying the foreign tax credit limitation. The 200 of deductions allocated to the foreign branch basket. 2. The Main Entity’s tax liability in Jurisdiction X is calculated as follows:

a. Taxable Income = 600 (100 + 200 + 300). b. Tax rate = 20%. c. Pre-foreign tax credit tax liability = 120. d. Foreign Source Income after allocable expenses = 100 (300 – 200). e. Gross foreign tax credits = 15 (5 + 10). f. Allowable foreign tax credits = 20 (120×100/600). g. Tax liability = 105 = (120 – 15).

3. The GloBE calculation applies as follows:

h. Step 1 - Calculate the foreign source income of each PE and Entity

i. The foreign source income of PE1 is 100 (100 of income from PE1 is included in the Main

Entity’s taxable income).

ii. The foreign source income of PE2 is 200 (200 of income from PE2 is included in the Main

Entity’s taxable income).

iii. The Main Entity has no foreign source income.

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i. The Allocable Covered Taxes for the basket are determined by starting with the total tax i. Step 2 – determine the Allocable Covered Taxes for the foreign branch basket.

liability (80) and subtracting the domestic tax liability calculated without regard to foreign

i. The Allocable Covered Taxes for the basket is determined by starting with the total tax

source income. Where domestic expenses are allocated to foreign source income for the

liability (105) and subtracting the domestic tax liability calculated without regard to foreign

purposes of the foreign tax credit limitation, they are excluded from the determination of

source income. Where domestic expenses are allocated to foreign source income for the

domestic source income. Accordingly, there is 400 of domestic source income (which is

purposes of the foreign tax credit limitation, they are excluded from the determination of

the domestic source income of 300 and then adding back 100 in expense allocated to

domestic source income. Accordingly, there is 500 of domestic source income (which is

foreign source income for the purposes of the foreign tax credit liability). The hypothetical

the domestic source income of 300 and then adding back the 200 in expense allocated to

domestic tax liability on this income is 80 (400 x 20%).

foreign source income for the purposes of the foreign tax credit limitation). The hypothetical

ii. Accordingly, the Allocable Covered Taxes for the foreign branch basket is 0 (80 – 80). domestic tax liability on this income is 100 (500 x 20%).

There are no Allocable Covered Taxes.

ii. Allocable Covered Taxes is 5 (105 – 100).

c. As there are no Allocable Covered Taxes to be allocated, the remaining steps are unnecessary.

j. Step 3 – determine the Cross-Crediting Allocation Key with respect to each Entity 4. In this example, there is no amount of Main Entity taxation to allocate to the PE. Jurisdiction X’s

i. The Cross-Crediting Allocation Key for a PE is given by the formula: domestic tax system requires an allocation of expenses for the purposes of determining foreign source income and applying its foreign tax credit limitation (200 – 100). The PE has accrued 30 of tax with respect

to this income which exceeds the pre-tax credit liability which arises with respect to this income.

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐴𝐴 𝑃𝑃𝑃𝑃 Accordingly, there is no amount to allocate to the PE.

= (𝑀𝑀𝐴𝐴𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝑖𝑖 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 × 𝐴𝐴𝑎𝑎𝑎𝑎𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡 𝐶𝐶𝐴𝐴𝐶𝐶𝐶𝐶)

′

− 𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝑓𝑓𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝑎𝑎𝐶𝐶𝐶𝐶 𝑤𝑤𝐶𝐶𝐶𝐶ℎ 𝐶𝐶𝐶𝐶𝐶𝐶𝑎𝑎𝐶𝐶𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶 𝐶𝐶𝐶𝐶𝐴𝐴𝐶𝐶𝑖𝑖𝐶𝐶

Example 4.3.2-8

PE1’s Cross-Crediting Allocation Key is 15 ((100 x 20%) – 5).

1. Jurisdiction X has a worldwide tax system with cross-crediting and a foreign tax credit limitation

PE2’s Cross-Crediting Allocation Key is 30 ((200 x 20%) – 10). which is calculated by reference to baskets of foreign source income. A Main Entity operating in Jurisdiction X has PE1 and PE2 operating in Jurisdictions A and B respectively. PE1 has 100 of GloBE Income which

is all included in the taxable income of Main Entity. PE1 has accrued 5 in Covered Taxes to Jurisdiction A

k. Step 4 – determine the allocation to each PE on this GloBE Income (at a 5% rate). PE2 has 200 of GloBE Income which is all included in the taxable

income of the Main Entity. PE2 has accrued 10 of Covered Tax (at a 5% rate). There are no expenses i. The allocation to each Entity is given by the formula: allocated to PE1 under this methodology. The Main Entity also has 300 of domestic income taking into

𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐶𝐶𝐶𝐶 𝐶𝐶𝐴𝐴𝐴𝐴ℎ 𝑃𝑃𝑃𝑃 𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾 account the 200 of deductions which are allocated to the foreign source income only for the purposes of

= 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝑡𝑡𝐴𝐴𝐶𝐶 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝑇𝑇𝐴𝐴𝑡𝑡𝐶𝐶𝐶𝐶 applying the foreign tax credit limitation. The 200 of deductions allocated to the foreign branch basket.

𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾 𝑓𝑓𝐶𝐶𝐶𝐶 𝐶𝐶ℎ𝐶𝐶 𝑃𝑃𝑃𝑃 𝐶𝐶𝐶𝐶 𝑃𝑃𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐾𝐾

× ( ). 2. The Main Entity’s tax liability in Jurisdiction X is calculated as follows: 𝑇𝑇ℎ𝐶𝐶 𝐶𝐶𝑎𝑎𝑖𝑖 𝐶𝐶𝑓𝑓 𝐴𝐴𝐴𝐴𝐴𝐴 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 − 𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐴𝐴𝐴𝐴𝐴𝐴𝐶𝐶𝐴𝐴𝐴𝐴𝐶𝐶𝐶𝐶𝐶𝐶𝐶𝐶 𝐾𝐾𝐶𝐶𝐾𝐾𝐶𝐶

a. Taxable Income = 600 (100 + 200 + 300). Accordingly, the allocation to each PE is as follows:

b. Tax rate = 20%. Allocation to PE1 = 5 x (15 / (15+30)) = 1.67.

c. Pre-foreign tax credit tax liability = 120. Allocation to PE2 = 5 × (30 / (15+30)) = 3.33.

d. Foreign Source Income after allocable expenses = 100 (300 – 200). 4. The final result is that the Main Entity has accrued 105 in Covered Taxes, of which 1.67 is allocated

to PE1, 3.33 is allocated to PE2, and the remainder (100) is not reallocated. e. Gross foreign tax credits = 15 (5 + 10).

f. Allowable foreign tax credits = 20 (120×100/600). Example 4.3.2-9

g. Tax liability = 105 = (120 – 15).

1. Parent Entity is located in Jurisdiction X and has Sub Co 1 located in Jurisdiction Y. Sub Co 1

earns 100 in profit in Jurisdiction Y and accrues 10 in tax (at a 10% tax rate). Sub Co 1 makes a distribution 3. The GloBE calculation applies as follows:

of 90 to Parent Entity. Under Jurisdiction X’s tax system, Parent Entity includes the distribution of 90 in its

h. Step 1 - Calculate the foreign source income of each PE and Entity

taxable income. Jurisdiction X grants Parent Entity an indirect tax credit for the foreign taxes paid with

i. The foreign source income of PE1 is 100 (100 of income from PE1 is included in the Main respect to that distribution (10) but adds the amount of these indirect foreign tax credits to the taxable

Entity’s taxable income). income of the Parent Entity. As a result, Parent Entity has an increase in taxable income of 100 and an

indirect foreign tax credit of 10.

ii. The foreign source income of PE2 is 200 (200 of income from PE2 is included in the Main

2. For the purposes of applying the above cross-crediting allocation formula, the foreign source

Entity’s taxable income).

income of Parent Entity is 100. This includes the received distribution of 90 and the 10 ‘gross-up’ for the

iii. The Main Entity has no foreign source income.

indirect foreign tax credit amount.

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Example 4.3.2-10

1. Main Entity is located in Jurisdiction X and has PE1 (in Jurisdiction A) and PE2 (in Jurisdiction B). In Year 1, Main Entity makes domestic source income of 100. PE1 has a loss of 40 and PE2 has income of 40. In Year 2, the Main Entity has domestic source income of 100, PE1 has income of 40 and PE2 has income of 40. Under Jurisdiction X’s tax system, Main Entity directly includes the income or loss of each PE in its taxable income. Jurisdiction X has a 20% tax rate. Jurisdiction A does not have a corporate income tax and Jurisdiction B has a tax rate of 10%. Jurisdiction X has a foreign tax credit limitation equal to 20% of net foreign source income. Any unused foreign tax credits are carried forward to a following year. 2. In Year 1, Main Entity’s tax in Jurisdiction X is as follows:

a. Taxable Income = 100 (100 - 40 + 40). b. Tax rate = 20%. c. Pre-foreign tax credit tax liability = 20 (100 x 20%). d. Foreign Source Income after allocable expenses = 0 (40 – 40). e. Gross foreign tax credits = 4. f. Allowed foreign tax credits = 0 (20×(0/100)). 4 in foreign tax credits is carried forward. g. Tax liability = 20 = (20 – 0).

3. In Year 2, Main Entity’s tax in Jurisdiction X is as follows:

a. Taxable Income = 180 (100 + 40 + 40). b. Tax rate = 20%. c. Pre-foreign tax credit tax liability = 36 (180 x 20%). d. Foreign Source Income after allocable expenses = 80 (40 + 40). e. Gross foreign tax credits = 8 (4 + 4) (this includes 4 in carried forward tax expense). f. Allowed foreign tax credits = 8 (as the foreign tax credit limitation is 16 (36 ×80/180)). g. Tax liability = 28 = (36 – 8).

4. In Year 1, there is no allocation of tax from the Main Entity to either PE. As Jurisdiction X’s regime sets off PE1’s loss against PE2’s income in applying its foreign tax credit limitation, the Main Entity has no foreign source income for Year 1 and there is no amount of Allocable Covered Taxes to be allocated under the formula. There is also no net loss to be taken into account by the Main Entity in determining its taxable income as the loss of PE1 is effectively cancelled out by the income in PE2. As a result, Article 3.4.5 does not apply to reallocate any GloBE Loss from PE1 to the Main Entity. The Adjusted Covered Taxes do not take into account any deferred tax expense for the carried forward foreign tax credits due to the operation of Article 4.4.1(e). 5. In Year 2, the Main Entity has foreign source income of 80. The Allocable Covered Taxes are 8 (28 - (100 x 20%)). This takes into account current taxes as well as the carried forward foreign tax credit. This amount is then allocated between PE1 and PE2 in accordance with their respective Cross-Crediting Allocation Keys (the Main Entity has no foreign source income of its own). PE1’s Cross-Crediting Allocation Key is 8 ((40 x 20%) - 0) and PE2’s Cross-Crediting Allocation Key is 4 (40 x 20%) – 4). For the purposes of calculating the Cross-Crediting Allocation Key, the taxes accrued by the PE include the current year taxes but do not take into account the unused foreign tax credits from the previous year which have been carried forward. As a result, 5.33 is allocated to PE1 (8 x (8/12)) and 2.67 is allocated to PE2 (8 x 4/12). PE1 has an ETR of 13.3% (5.33/40) and PE2 has an ETR of 16.7% ((4+2.67)/40).

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Example 4.3.2-10 Example 4.3.2-11

1. Main Entity is located in Jurisdiction X and has PE1 (in Jurisdiction A) and PE2 (in Jurisdiction B). 1. This example is identical to the example above except that Jurisdiction X’s foreign tax credit

In Year 1, Main Entity makes domestic source income of 100. PE1 has a loss of 40 and PE2 has income limitation is calculated separately for each Permanent Establishment. That is, there is no netting of foreign of 40. In Year 2, the Main Entity has domestic source income of 100, PE1 has income of 40 and PE2 has branch income and loss in setting the foreign tax credit limitation. This means that there is still 40 in foreign income of 40. Under Jurisdiction X’s tax system, Main Entity directly includes the income or loss of each source income (as there is no netting) and the 4 foreign tax credits are allowed for Year 1.

PE in its taxable income. Jurisdiction X has a 20% tax rate. Jurisdiction A does not have a corporate income

2. In Year 1, Main Entity’s tax in Jurisdiction X is as follows: tax and Jurisdiction B has a tax rate of 10%. Jurisdiction X has a foreign tax credit limitation equal to 20% of net foreign source income. Any unused foreign tax credits are carried forward to a following year. a. Taxable Income = 100 (100 - 40 + 40).

2. In Year 1, Main Entity’s tax in Jurisdiction X is as follows: b. Tax rate = 20%.

a. Taxable Income = 100 (100 - 40 + 40). c. Pre-foreign tax credit tax liability = 20 (100 x 20%).

b. Tax rate = 20%. d. Foreign Source Income after allocable expenses = 40.

c. Pre-foreign tax credit tax liability = 20 (100 x 20%). e. Gross foreign tax credits = 4.

d. Foreign Source Income after allocable expenses = 0 (40 – 40). f. Allowed foreign tax credits = 4 (as the foreign tax credit limitation is 8 (20×40/100).

e. Gross foreign tax credits = 4. g. Tax liability = 16 = (20 – 4).

f. Allowed foreign tax credits = 0 (20×(0/100)). 4 in foreign tax credits is carried forward. 3. In Year 2, Main Entity’s tax in Jurisdiction X is as follows:

g. Tax liability = 20 = (20 – 0). a. Taxable Income = 180 (100 + 40 + 40).

3. In Year 2, Main Entity’s tax in Jurisdiction X is as follows: b. Tax rate = 20%.

a. Taxable Income = 180 (100 + 40 + 40). c. Pre-foreign tax credit tax liability = 36 (180 x 20%).

b. Tax rate = 20%. d. Foreign Source Income after allocable expenses = 80 (40 + 40).

c. Pre-foreign tax credit tax liability = 36 (180 x 20%). e. Gross foreign tax credits = 4.

d. Foreign Source Income after allocable expenses = 80 (40 + 40). f. Allowed foreign tax credits = 4 (as the foreign tax credit limitation is 16 (36×80/180)).

e. Gross foreign tax credits = 8 (4 + 4) (this includes 4 in carried forward tax expense). g. Tax liability = 32 (36 – 4).

f. Allowed foreign tax credits = 8 (as the foreign tax credit limitation is 16 (36 ×80/180)). 4. In Year 1, PE2 has 40 of foreign source income (Step 1). The Allocable Covered Taxes are equal

to the total tax liability (16) less the domestic tax liability calculated without regard to foreign source income

g. Tax liability = 28 = (36 – 8).

but taking into account deductions for a foreign PE Loss which gives rise to a GloBE Loss under Article 4. In Year 1, there is no allocation of tax from the Main Entity to either PE. As Jurisdiction X’s regime 3.4.5 (12 ((100 – 40) x 20%)). This results in Allocable Covered Taxes of 4 (16 – 12) (Step 2). As PE2 is sets off PE1’s loss against PE2’s income in applying its foreign tax credit limitation, the Main Entity has no the only entity with foreign source income, all 4 in Allocable Covered Taxes are allocated to PE2 (Steps 3

foreign source income for Year 1 and there is no amount of Allocable Covered Taxes to be allocated under and 4). Accordingly, PE2 has an ETR of 20% ((4 + 4) / 40). the formula. There is also no net loss to be taken into account by the Main Entity in determining its taxable

5. Assuming the other conditions have been met, Art. 3.4.5 applies with respect to PE1 in Year 1. income as the loss of PE1 is effectively cancelled out by the income in PE2. As a result, Article 3.4.5 does

The Main Entity takes PE1’s GloBE Loss into account in calculating its GloBE Income or Loss. Accordingly, not apply to reallocate any GloBE Loss from PE1 to the Main Entity. The Adjusted Covered Taxes do not

the Main Entity’s GloBE Income is only 60 for Year 1. It has an ETR of 20% (12/60). Due to the operation take into account any deferred tax expense for the carried forward foreign tax credits due to the operation

of Art. 3.4.5, PE1 has no GloBE Income or Loss. It also has no Covered Taxes. of Article 4.4.1(e).

6. In Year 2, there is foreign source income of 40 for PE2 (Step 1). PE1’s 40 of income is treated as 5. In Year 2, the Main Entity has foreign source income of 80. The Allocable Covered Taxes are 8

domestic source income of the Main Entity as it is income of a foreign PE which offsets a previously (28 - (100 x 20%)). This takes into account current taxes as well as the carried forward foreign tax credit.

included loss for which there had been a GloBE reallocation under Article 3.4.5. The Allocable Covered This amount is then allocated between PE1 and PE2 in accordance with their respective Cross-Crediting

Taxes are 4 (32 – (140 x 20%)). In calculating the Allocable Covered Taxes, the income of PE1 which is Allocation Keys (the Main Entity has no foreign source income of its own). PE1’s Cross-Crediting Allocation

reallocated to the Main Entity under Art. 3.4.5 is treated as domestic source income which is relevant in Key is 8 ((40 x 20%) - 0) and PE2’s Cross-Crediting Allocation Key is 4 (40 x 20%) – 4). For the purposes

determining the hypothetical domestic tax liability. As PE2 is the only entity with foreign source income, of calculating the Cross-Crediting Allocation Key, the taxes accrued by the PE include the current year

the 4 in Allocable Covered Taxes is allocated to PE2. As a result, in Year 2, the Main Entity has an ETR taxes but do not take into account the unused foreign tax credits from the previous year which have been

of 20% (28/140), PE1 has no GloBE Income or Loss (and no Covered Taxes) and PE2 has an ETR of 20% carried forward. As a result, 5.33 is allocated to PE1 (8 x (8/12)) and 2.67 is allocated to PE2 (8 x 4/12).

((4 + 4)/40). PE1 has an ETR of 13.3% (5.33/40) and PE2 has an ETR of 16.7% ((4+2.67)/40).

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Example 4.3.2-12 – Carry-forwarded losses from a PE.

1. The Main Entity (in Jurisdiction X) has PE1 (Jurisdiction A) and PE2 (Jurisdiction B). Jurisdiction X has a tax rate of 20% and Jurisdiction A has a tax rate of 5%. In Year 1, PE1 makes a loss of 40. There is no income or loss for Main Entity and PE2. In Year 2, Main Entity has income of 100, PE1 has income of 40 and PE2 has income of 40. In Year 2, PE1 accrues no tax despite the 5% tax rate because it has carried forward losses from the previous year under Jurisdiction A’s tax system. PE2 accrues 4 of tax in Jurisdiction B (10% rate). Under its domestic tax system, Jurisdiction X takes into account carry-forward losses from foreign Permanent Establishments when determining the foreign tax credit limitation. 2. In Year 1, Main Entity’s tax in Jurisdiction X is as follows:

a. Taxable Income = -40. b. Tax rate = 20%. c. Pre-foreign tax credit tax liability = 0. d. Foreign Source Income after allocable expenses = 0. e. Gross foreign tax credits = 0. f. Allowed foreign tax credits = 0. g. Tax liability = 0.

3. In Year 2, Main Entity’s tax in Jurisdiction X is as follows:

a. Taxable Income = 140 (100 + 40 + 40 - 40) (including a carry-forward loss of 40). b. Tax rate = 20%. c. Pre-foreign tax credit tax liability = 28 (140 x 20%).

d. Foreign Source Income after allocable expenses = 40 (this is PE2’s foreign source income of

40. PE1’s income of 40 has been reallocated to the Main Entity under Art. 3.4.5 along with the

40 carry forward loss which had previously been allocated to the Main Entity in Year 1).

e. Gross foreign tax credits = 4.

f. Allowed foreign tax credits = 4 (as the foreign tax credit limitation is 8 (28 x 40/140. In this

example, the Main Entity jurisdiction takes into account the carry forward loss in calculating the

FTC limitation).

g. Tax liability = 24 = (28 – 4). 4. In Year 1, there is no tax liability to allocate from the Main Entity to either PE. PE1’s loss is taken into account in determining the taxable income of the Main Entity and, assuming it meets the other criteria, Article 3.4.5 applies to allocate the GloBE Loss from PE1 to the Main Entity. In Year 1, there is a GloBE Loss of 40 in the Main Entity. There is also a GloBE Loss Deferred Tax Asset of 6 (40 x 15%). 5. In Year 2, the Allocable Covered Taxes is 4 (24 – (100 x 20%)). The total tax liability is 24. The domestic tax liability takes into account the 100 of domestic income less the 40 carry forward loss (from the previously allocated 40 loss from PE1 in Year 1) plus the reallocated 40 from PE1 under Article 3.4.5 in Year 2). Accordingly, the hypothetical domestic tax liability is 20 ((100 – 40 + 40) x 20%). PE1 has no foreign source income in Year 2 as its 40 of income is treated as domestic source income of the Main Entity and has been allocated under Art. 3.4.5. PE2 has foreign source income of 40. There is no foreign source income of the Main Entity itself. As a result, all of the Allocable Covered Taxes (4) are allocated to PE2.

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Example 4.3.2-12 – Carry-forwarded losses from a PE. 6. In Year 2, the GloBE Income of Main Entity is 140 (100 + 40 under Article 3.4.5). Its Adjusted

Covered Taxes are 26. This is 20 of domestic tax and 6 as a result of the reversed GloBE Loss DTA of 6 1. The Main Entity (in Jurisdiction X) has PE1 (Jurisdiction A) and PE2 (Jurisdiction B). Jurisdiction

from Year 1 (calculated at 15% of the 40 loss). This is an ETR of 18.5%. This is the outcome of an effective X has a tax rate of 20% and Jurisdiction A has a tax rate of 5%. In Year 1, PE1 makes a loss of 40. There blending of the 20% rate on the domestic income of 100 and the reversal of the GloBE Loss DTA of 6 is no income or loss for Main Entity and PE2. In Year 2, Main Entity has income of 100, PE1 has income

which has been calculated as 15% of a 40 loss. PE1 has no GloBE Income (as its income is treated as of 40 and PE2 has income of 40. In Year 2, PE1 accrues no tax despite the 5% tax rate because it has domestic source income of the Main Entity and has been reallocated under Article 3.4.5) and no Covered carried forward losses from the previous year under Jurisdiction A’s tax system. PE2 accrues 4 of tax in Taxes. PE2 has 40 in GloBE Income and 8 in Covered Taxes (4 of its own taxes at a 10% rate and 4 of Jurisdiction B (10% rate). Under its domestic tax system, Jurisdiction X takes into account carry-forward Main Entity taxes which have been allocated). Accordingly, PE2 has an ETR of 20%. losses from foreign Permanent Establishments when determining the foreign tax credit limitation.

Example 4.3.2-13 – Deferred Tax Expense or benefit interaction

2. In Year 1, Main Entity’s tax in Jurisdiction X is as follows:

a. Taxable Income = -40. 5. An MNE Group with a UPE in Jurisdiction X is subject to a worldwide tax system applied by

Jurisdiction X. Under this tax system, Jurisdiction X imposes tax on both domestic and foreign source

b. Tax rate = 20%.

income, including dividends received from foreign corporations, and allows a tax credit for taxes paid on

c. Pre-foreign tax credit tax liability = 0. foreign source income. Jurisdiction X has a cross-crediting foreign tax credit regime pursuant to which

taxes paid in all foreign jurisdictions on all categories of foreign source income are creditable against the

d. Foreign Source Income after allocable expenses = 0.

UPE’s tax liability arising from foreign source income. Under the Jurisdiction X’s domestic tax regime, the

e. Gross foreign tax credits = 0. foreign tax credit allowed for any given Fiscal Year cannot exceed the tax liability arising from the income

inclusion of foreign sources and the foreign tax credit limitation. The tax rate in Jurisdiction X is 20%.

f. Allowed foreign tax credits = 0.

6. The UPE has PEs in jurisdictions A (PE1), B (PE2) and owns a subsidiary (C Co) in jurisdiction C.

g. Tax liability = 0.

The UPE owns 100% of C Co and all of C Co’s after-tax profits are distributed to the UPE annually. C Co 3. In Year 2, Main Entity’s tax in Jurisdiction X is as follows: is not subject to the CFC Tax Regime of Jurisdiction X. The UPE wholly owns a CFC in jurisdiction A (A

a. Taxable Income = 140 (100 + 40 + 40 - 40) (including a carry-forward loss of 40). Co), which is a Constituent Entity. A Co’s income is Passive Income. It also has a 20% Ownership Interest

in B Co which is located in Jurisdiction B and is neither a Constituent Entity nor a CFC. The dividend

b. Tax rate = 20%.

income from B Co is included in the UPE’s taxable income under the cross-crediting regime but is not

c. Pre-foreign tax credit tax liability = 28 (140 x 20%). within the UPE’s GloBE Income or Loss.

d. Foreign Source Income after allocable expenses = 40 (this is PE2’s foreign source income of

Year 1

40. PE1’s income of 40 has been reallocated to the Main Entity under Art. 3.4.5 along with the

40 carry forward loss which had previously been allocated to the Main Entity in Year 1). 7. In year 1, UPE earns domestic source income of 400, PE1 generates income of 500, PE2

generates income of 100, and A Co (CFC) generates income of 100 which is passive income. All of the

e. Gross foreign tax credits = 4.

PE income is active income. The UPE derives dividend income of 200 from B Co and dividend income of

f. Allowed foreign tax credits = 4 (as the foreign tax credit limitation is 8 (28 x 40/140. In this 300 from C Co. The UPE also derives royalty income of 100 from a 3rd party company located in

example, the Main Entity jurisdiction takes into account the carry forward loss in calculating the Jurisdiction C. Jurisdiction X also has a foreign tax credit limitation equal to its domestic tax liability

FTC limitation). multiplied by the proportion of foreign source income to total income. Suppose that in Jurisdiction A,

Jurisdiction B and Jurisdiction C, the financial income and taxable income are the same.

g. Tax liability = 24 = (28 – 4).

8. Tax rates and Tax accrued with respect to the income of the UPE, each PE, subsidiary, CFC and 4. In Year 1, there is no tax liability to allocate from the Main Entity to either PE. PE1’s loss is taken

non-Constituent Entity in the jurisdiction where they are located are as follows: into account in determining the taxable income of the Main Entity and, assuming it meets the other criteria,

(CFC)

the previously allocated 40 loss from PE1 in Year 1) plus the reallocated 40 from PE1 under Article 3.4.5

Jurisdiction B PE2 100 100* 25% 25

in Year 2). Accordingly, the hypothetical domestic tax liability is 20 ((100 – 40 + 40) x 20%). PE1 has no

PE2.

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*Note that the taxable income for these amounts differs between the tax system applicable in the jurisdiction of the PE and the tax system of the UPE under its worldwide system. **The figures with respect to B Co in this table reflect UPE’s proportionate share of the income and taxes of B Co. That is, they are 20% of the total income and taxes of B Co. 9. At the beginning of Year 1, PE1 purchases equipment with the carrying value of 400. For accounting purposes, the equipment is depreciated in 2 years and Jurisdiction A also depreciates such asset in 2 years under domestic tax regime. However, Jurisdiction X allows for immediate expense of the asset for tax purposes. In Year 1, PE 2 has recorded a reserve for bad debt of 100. However, the bad debt is only deductible in Jurisdiction X for tax purposes when the debt is proven to be uncollectible. Suppose there is no timing differences with respect to other foreign source income or domestic income of the UPE. As a result, there are differences between the taxable income of PE1 and PE2 as calculated under the tax regime in the jurisdiction of the PE and as calculated under Jurisdiction X’s tax regime as applicable to foreign Permanent Establishments.

Allocation of cross-border current tax expense 10. Step 1: determine the amount of each foreign source income which in included in the taxable income of the UPE.

Jurisdiction A Jurisdiction B Jurisdiction C PE1 A Co PE2 B Co C Co 3rd Party Company Taxable Income 300 100 200 200 300 100

Note: Because equipment in PE1 can be expensed immediately in Jurisdiction X, the taxable income of PE 1 included in Jurisdiction X is 300 while its accounting income is 500. This is because for tax purposes, PE1 has a 400 deduction in Year 1 (immediate expensing) while for accounting purposes the 400 carrying value is treated as an expense of 200 in Year 1 and 200 in Year 2. Because the reserve for bad debt is not allowed to be deducted in Jurisdiction X in Year 1, the taxable income of PE2 included in Jurisdiction X is 200 rather than the 100 accounting profit. 11. Step 2: Calculate the Allocable Covered Taxes

a. Taxable income of the UPE is 1600 = 400+300+100+200+200+300+100 b. Pre-credit tax liability payable in Jurisdiction X is 320 = 1600×20% c. Tax accrued in foreign jurisdictions is 159.25 = 25+5+25+50+15+15+14.25+10 d. Foreign tax credit limitation is 240 = 320×(1200/1600) e. Allowed foreign tax credit is 159.25 which is the lower of c and d f. Tax payable in Jurisdiction X is 160.75 = 320-159.25 g. Allocable Covered Taxes = 160.75- (400×20%) = 80.75

12. Step 3: Determine the Cross-crediting Allocation Key for each PE and Entity’s foreign source income

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*Note that the taxable income for these amounts differs between the tax system applicable in the jurisdiction of the PE and the tax 13. Step 4: Determine allocation to each PE and Entity

system of the UPE under its worldwide system.

Allocable Covered Taxes Cross-Crediting Allocation The sum of all Cross- Allocation to the Entity

key for the Entity Crediting Allocation Keys **The figures with respect to B Co in this table reflect UPE’s proportionate share of the income and taxes of B Co. That is, they are

[1] [2] [3] [4] = [1] x ([2]/[3]) 20% of the total income and taxes of B Co.

PE1 80.75 35 105.75 26.73

A Co 15 11.45

9. At the beginning of Year 1, PE1 purchases equipment with the carrying value of 400. For

PE2 15 11.45

accounting purposes, the equipment is depreciated in 2 years and Jurisdiction A also depreciates such

B Co 0 0

asset in 2 years under domestic tax regime. However, Jurisdiction X allows for immediate expense of the

there is no timing differences with respect to other foreign source income or domestic income of the UPE.

14. For purposes of Article 4.3.3, the ETR for A Co (ignoring any CFC Tax Regimes and tax As a result, there are differences between the taxable income of PE1 and PE2 as calculated under the tax

transparency regimes) would have been 5% (= 5/100) and thus the Top-up Tax Percentage for A Co is regime in the jurisdiction of the PE and as calculated under Jurisdiction X’s tax regime as applicable to

10%(=15%-5%). Therefore, the current tax expense of 10 is allocated to A Co and the remaining amount foreign Permanent Establishments.

of 1.45 (=11.45-10) is included in the Adjusted Covered Taxes of the UPE.

Allocation of cross-border current tax expense

15. As a result, of the 160.75 in current taxes accrued by the Main Entity (UPE), 71.66 (=80.75 – 7.64 10. Step 1: determine the amount of each foreign source income which in included in the taxable – 1.45) is allocated between its PE1, A Co, PE2, B Co and C Co. The remaining 89.09 is not reallocated income of the UPE. and remains as Covered Tax of UPE.

Jurisdiction A Jurisdiction B Jurisdiction C Allocation of deferred tax expense or benefit PE1 A Co PE2 B Co C Co 3rd Party Company

Taxable Income 300 100 200 200 300 100 16. At the end of Year 1, the carrying value of the equipment of PE1 is 200, and the tax basis of the

equipment is 0. The timing difference is 200 and the UPE records a DTL of 40(=200×20%) with respect to Note: Because equipment in PE1 can be expensed immediately in Jurisdiction X, the taxable income of PE 1 included in Jurisdiction

the equipment based on the timing difference. There is no creditable tax credit in relation to the equipment. X is 300 while its accounting income is 500. This is because for tax purposes, PE1 has a 400 deduction in Year 1 (immediate

The deferred tax expense arising from the recognition of the DTL is recast to 30 and allocated to PE1. expensing) while for accounting purposes the 400 carrying value is treated as an expense of 200 in Year 1 and 200 in Year 2. Because the reserve for bad debt is not allowed to be deducted in Jurisdiction X in Year 1, the taxable income of PE2 included in 17. With respect to the reserve for bad debt in PE2, there is a deductible timing difference of 100 in Jurisdiction X is 200 rather than the 100 accounting profit. the UPE. The UPE records a DTA of 20(=100×20%) accordingly. The deferred tax benefit arising from the

recognition of the DTA is recast to 15 and allocated to PE2. 11. Step 2: Calculate the Allocable Covered Taxes

Adjusted Covered Taxes after allocation

a. Taxable income of the UPE is 1600 = 400+300+100+200+200+300+100

18. The calculation of Adjusted Covered Taxes is as follows:

b. Pre-credit tax liability payable in Jurisdiction X is 320 = 1600×20%

Jurisdictio Entity Tax accrued Allocation of Current tax Deferred tax Allocation of Deferred tax Adjusted

c. Tax accrued in foreign jurisdictions is 159.25 = 25+5+25+50+15+15+14.25+10 n in each Current tax expense expense after Deferred tax expense Covered Taxes

jurisdiction expense after recast before included

d. Foreign tax credit limitation is 240 = 320×(1200/1600) allocation allocation

[1] [2] [3]=[1]+[2] [4] [5] [6]=[4]+[5] [7]=[3]+[6]

e. Allowed foreign tax credit is 159.25 which is the lower of c and d

X UPE 160.75 -71.66+10* 99.09 15 -15 0 99.09

A PE1 25 26.73 51.73 30 30 81.73

f. Tax payable in Jurisdiction X is 160.75 = 320-159.25

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Taxes ETR 19.82% 16.12% 21.45% 17.58%

rd

*Note: The 100 of royalty income derived from a 3 party company in Jurisdiction C shall be added to the GloBE Income of the UPE.

Year 2

20. The facts are the same as Year 1, except that the bad debt in PE 2 has been proven to be uncollectible in year 2 and is allowed as a deduction for tax purposes in Jurisdiction X.

Allocation of cross-border current tax expense 21. Step 1: determine the amount of foreign source income which is included in the taxable income of the UPE.

Jurisdiction A Jurisdiction B Jurisdiction C PE1 A Co PE2 B Co C Co 3rd Party Company Taxable Income 700* 100 0* 200 300 100

*Note: As all of the depreciation of the equipment in PE1 was claimed in Year 1 (under immediate expensing), there are no further deductions for this equipment under Jurisdiction X’s tax law in Year 2. Accordingly, the taxable income of PE1 included in Jurisdiction X is 700 (500 + 200). Furthermore, the bad debt of PE2 which had been taken as an expense for accounting purposes in Year 1 is allowed as a deduction for tax purposes in Jurisdiction X in Year 2. Accordingly, the taxable income of PE2 included in Jurisdiction X is 0 (100 – 100). 22. Step 2: Calculate the Allocable Covered Taxes

a. Taxable income of the UPE is 1800 = 400+700+100+0+200+300+100 b. Pre-credit tax liability payable in Jurisdiction X is 360 = 1800×20% c. Tax accrued in foreign jurisdictions is 159.25 = 25+5+25+50+15+15+14.25+10 d. Foreign tax credit limitation is 280 = 360×(1400/1800) e. Allowed foreign tax credit is 159.25 which is the lower of c and d f. Tax payable in jurisdiction X is 200.75 = 360-159.25 g. Allocable Covered Taxes = 200.75 – (400×20%) = 120.75

23. Step 3: Determine the Cross-crediting Allocation Key for each PE and Entity.

24. Step 4: Determine allocation to each PE and Entity

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uncollectible in year 2 and is allowed as a deduction for tax purposes in Jurisdiction X.

25. For purposes of Article 4.3.3, assume that the Top-up Tax Percentage for A Co is 10%. Therefore,

Allocation of cross-border current tax expense the current tax expense of 10 is allocated to A Co and the remaining amount of 0.61 (=10.61-10) is included

in the Adjusted Covered Taxes of the UPE. 21. Step 1: determine the amount of foreign source income which is included in the taxable income of the UPE. 26. As a result, of the 200.75 in current taxes accrued by the Main Entity (UPE), 113.07 (120.75 – 7.07

– 0.61) is allocated between its PE1, A Co, PE2, B Co and C Co. The remaining 87.68 is not reallocated

Jurisdiction A Jurisdiction B Jurisdiction C

and remains as Covered Tax of UPE.

PE1 A Co PE2 B Co C Co 3rd Party Company

Taxable Income 700* 100 0* 200 300 100

Allocation of deferred tax expense or benefit

*Note: As all of the depreciation of the equipment in PE1 was claimed in Year 1 (under immediate expensing), there are no further

27. At the end of Year 2, the carrying value of the equipment of PE1 is 0, and the tax basis of the deductions for this equipment under Jurisdiction X’s tax law in Year 2. Accordingly, the taxable income of PE1 included in Jurisdiction equipment is 0. There is no timing difference and the UPE records a reversal of the DTL that was recast

X is 700 (500 + 200). Furthermore, the bad debt of PE2 which had been taken as an expense for accounting purposes in Year 1 is to 30 with respect to the equipment based on the timing difference. The deferred tax benefit of 30 arising allowed as a deduction for tax purposes in Jurisdiction X in Year 2. Accordingly, the taxable income of PE2 included in Jurisdiction X from this DTL reversal is allocated to PE1. is 0 (100 – 100).

28. With respect to the reserve for bad debt in PE2, there is no longer a timing difference at the end 22. Step 2: Calculate the Allocable Covered Taxes of Year 2 and the UPE records a reversal of the DTA that was recast to 15 accordingly. The deferred tax

expense of 15 arising from this DTA reversal is allocated to PE2.

a. Taxable income of the UPE is 1800 = 400+700+100+0+200+300+100

Adjusted Covered Taxes after allocation

b. Pre-credit tax liability payable in Jurisdiction X is 360 = 1800×20%

29. The calculation of Adjusted Covered Taxes are as follows:

c. Tax accrued in foreign jurisdictions is 159.25 = 25+5+25+50+15+15+14.25+10

Jurisdiction Entity Tax accrued Allocation of Current tax Allocable Allocation of Deferred tax Adjusted

d. Foreign tax credit limitation is 280 = 360×(1400/1800)

in each Current tax expense after deferred tax deferred tax expense Covered

jurisdiction expense allocation expense for included Taxes

e. Allowed foreign tax credit is 159.25 which is the lower of c and d

GloBE

purposes

f. Tax payable in jurisdiction X is 200.75 = 360-159.25

23. Step 3: Determine the Cross-crediting Allocation Key for each PE and Entity.

A Co 5 10 15 15

(CFC)

24. Step 4: Determine allocation to each PE and Entity

GloBE Income 400+100* 600 100 300 Adjusted Covered 97.68 91.32 40 51 Taxes ETR 19.54% 15.22% 40% 17%

rd

*Note: The 100 of royalty income derived from a 3 party company in Jurisdiction C shall be added to the GloBE Income of the UPE.

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Allocation of Cross-border Deferred

4.

Taxes

4.1¶Extension of the Substitute Loss Carry-forward DTA Introduction

1. The February 2023 Administrative Guidance introduced the Substitute Loss Carry-forward DTA which applied where a Parent Entity has a domestic tax loss in the same year as foreign CFC income against which it is used. The same issues arise both with respect to other Constituent Entities (foreign Permanent Establishments, Hybrid Entities and Reverse Hybrid Entities) and where the domestic loss of the Main Entity or Parent Entity is carried forward and used against the income of a Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity in a subsequent year. This guidance addresses the application of the Substitute Loss Carry-forward DTA in such cases. The guidance only addresses cases where the relevant loss arises from the Main Entity or Parent Entity jurisdiction (that is, a domestic source loss). It does not address cases where a loss arising from one Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity is used to offset income from another Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity. 2. The Inclusive Framework will further consider whether this mechanism is fully effective in addressing cases where losses arising from the Main Entity or Parent Entity jurisdiction are used to offset income arising from a Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity. It will consider whether the applicable mechanism (including limitations on the application of the Substitute Loss Carry-forward DTA) is sufficient in all cases. The Inclusive Framework will also consider whether adjustments are appropriate in cases where a loss arising from one Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity is used against taxable income arising from another Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity under the Main Entity or Parent Entity’s domestic tax law. 3. Certain domestic tax regimes require a Constituent Entity with a domestic tax loss to use that loss against foreign income prior to the use of the foreign tax credits which arise with respect to that income. Under certain domestic tax regimes, these foreign tax credits can be carried forward and used against future domestic income. Paragraphs 82.1 to 82.4 of the Commentary to Article 4.4.1€ clarify that in such cases a ‘Substitute Loss Carry-forward DTA’ can arise (subject to certain limitations).

4. Paragraph 82.2 of the Commentary to Article 4.4.1(e) sets out the general requirements for a Substitute Loss Carry-forward DTA to arise where the excess foreign tax credits can be carried forward into a subsequent year. Although the Substitute Loss Carry-forward DTA guidance was aimed at CFC Tax Regimes, neither paragraph 82.1 nor paragraph 82.2 refer specifically to a CFC Tax Regime. Arguably, the language in these paragraphs applies to foreign source income arising for a Parent Entity under a CFC Tax Regime or via a Hybrid Entity or Reverse Hybrid Entity and for a Main Entity with respect to a foreign Permanent Establishment.

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5. Paragraph 82.3 of the Commentary to Article 4.4.1(e) notes that certain CFC Tax Regimes produce equivalent results despite not allowing for excess foreign tax credits to be carried forward through a loss recapture mechanism. In such cases, the GloBE Rules also create a Substitute Loss Carry-forward DTA. Unlike paragraphs 82.1 and 82.2, paragraph 82.3 of the Commentary to Article 4.4.1(e) refers to CFC Tax Regimes specifically. It does not address whether it applies to cases where equivalent regimes

Allocation of Cross-border Deferred

4. arise with respect to a Main Entity and its foreign Permanent Establishments or a Constituent Entity which

includes the income of a foreign Hybrid Entity or foreign Reverse Hybrid Entity in its domestic taxable income.

Taxes

4.1.1¶Issues

6. It is necessary to clarify whether the guidance on Substitute Loss Carry-forward DTAs in paragraph 82.3 is also applicable to foreign source income derived from Permanent Establishments, Hybrid Entities or Reverse Hybrid Entities where the conditions of the guidance are also met.

4.1¶Extension of the Substitute Loss Carry-forward DTA Introduction

7. It is also necessary to clarify whether the guidance on Substitute Loss Carry-forward DTAs also 1. The February 2023 Administrative Guidance introduced the Substitute Loss Carry-forward DTA applies to domestic source tax loss carry-forwards. which applied where a Parent Entity has a domestic tax loss in the same year as foreign CFC income against which it is used. The same issues arise both with respect to other Constituent Entities (foreign 4.1.2. Guidance Permanent Establishments, Hybrid Entities and Reverse Hybrid Entities) and where the domestic loss of the Main Entity or Parent Entity is carried forward and used against the income of a Permanent 8. The Inclusive Framework has determined that the Substitute Loss Carry-forward DTA guidance in Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity in a subsequent year. This guidance paragraphs 82.1 through 82.4 should be equally applicable to other similar domestic corporate income tax addresses the application of the Substitute Loss Carry-forward DTA in such cases. The guidance only regimes which apply with respect to foreign Permanent Establishments and foreign subsidiaries that are addresses cases where the relevant loss arises from the Main Entity or Parent Entity jurisdiction (that is, a treated as Hybrid Entities or Reverse Hybrid Entities under the GloBE Rules. The following amendments domestic source loss). It does not address cases where a loss arising from one Permanent Establishment, shown in bold text will be made to paragraphs 82.1 and 82.3 of the Commentary to Article 4.4.1(e): CFC, Hybrid Entity or Reverse Hybrid Entity is used to offset income from another Permanent

82.1 However, there are circumstances where it is inappropriate for an amount of deferred tax Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity.

expense with respect to the generation and use of tax credits to be excluded from the Total 2. The Inclusive Framework will further consider whether this mechanism is fully effective in Deferred Tax Adjustment Amount for a Constituent Entity for the Fiscal Year. This is the case addressing cases where losses arising from the Main Entity or Parent Entity jurisdiction are used to offset where a jurisdiction taxes foreign source income (arising under a CFC Tax Regime or a regime income arising from a Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity. It will which taxes foreign branches, Permanent Establishments, Hybrid Entities or Reverse consider whether the applicable mechanism (including limitations on the application of the Substitute Loss Hybrid Entities) and under the domestic tax rules of the jurisdiction, a Constituent Entity may use Carry-forward DTA) is sufficient in all cases. The Inclusive Framework will also consider whether foreign tax credits to reduce domestic tax on income in a subsequent year after a domestic source adjustments are appropriate in cases where a loss arising from one Permanent Establishment, CFC, loss has offset foreign source income. In such cases, without a specific exemption, the Constituent Hybrid Entity or Reverse Hybrid Entity is used against taxable income arising from another Permanent Entity’s ETR may be lowered as the use of the foreign tax credit carry-forward is excluded from Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity under the Main Entity or Parent Entity’s the Constituent Entity’s Adjusted Covered Taxes. This result would occur notwithstanding the fact domestic tax law. that the Constituent Entity will generate a smaller deferred tax asset in respect of a loss carry-

forward because the domestic tax loss offset the foreign source income. Had the foreign source 3. Certain domestic tax regimes require a Constituent Entity with a domestic tax loss to use that loss

income not offset the domestic tax loss, the full amount of the tax loss would have been reflected against foreign income prior to the use of the foreign tax credits which arise with respect to that income.

in the Constituent Entity’s deferred tax asset and therefore would be included in Covered Taxes Under certain domestic tax regimes, these foreign tax credits can be carried forward and used against

when used by the Constituent Entity in future Fiscal Years. future domestic income. Paragraphs 82.1 to 82.4 of the Commentary to Article 4.4.1€ clarify that in such cases a ‘Substitute Loss Carry-forward DTA’ can arise (subject to certain limitations).

4. Paragraph 82.2 of the Commentary to Article 4.4.1(e) sets out the general requirements for a Substitute Loss Carry-forward DTA to arise where the excess foreign tax credits can be carried forward into a subsequent year. Although the Substitute Loss Carry-forward DTA guidance was aimed at CFC Tax Regimes, neither paragraph 82.1 nor paragraph 82.2 refer specifically to a CFC Tax Regime. Arguably, the language in these paragraphs applies to foreign source income arising for a Parent Entity under a CFC Tax Regime or via a Hybrid Entity or Reverse Hybrid Entity and for a Main Entity with respect to a foreign Permanent Establishment.

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82.3 Certain CFC Tax Regimes do not allow foreign tax credit carry-forwards but provide for equivalent results through a loss recapture mechanism that similarly allows excess foreign tax credits arising in a subsequent year to offset the domestic tax liability on the domestic source income that has been re-sourced as foreign source income. Some domestic corporate income

tax regimes provide equivalent treatment through a loss recapture mechanism (including in cases where a foreign tax credit carry-forward is also allowed) for the foreign income of foreign branches, Permanent Establishments or foreign subsidiaries which are treated as fiscally transparent under the domestic regime and which are Hybrid Entities or Reverse

Hybrid Entities under the GloBE Rules. Provided this the applicable loss recapture mechanism does not provide for an outcome that is more generous than the outcome that would be provided for if a loss carry-forward had been generated (i.e. a DTA recast at the Minimum Rate), then equivalent adjustments shall be made as necessary to recognise the effect of this mechanism on Adjusted Covered Taxes. To ensure equivalent outcomes under the GloBE Rules, if the applicable regime does not allow foreign tax credit carry-forwards, the amount of a Constituent Entity’s tax loss for a tax year that is subject to a recapture mechanism is treated as giving rise to a Substitute Loss Carry-forward DTA arising in the year of the tax loss. In any case

in which such a loss recapture mechanism applies, whether or not a foreign tax credit carry-

forward is allowed, the Substitute Loss Carry-forward DTA is treated as reversing as the tax loss is recaptured, but only to the extent the recapture mechanism increases the foreign tax credit used to offset tax liability on income included in the Constituent Entity’s GloBE Income or Loss.

9. The following paragraphs are to be added following paragraph [82.5] of the Commentary to Article 4.4.1(e): 82.6 The issues outlined above also arise where a Main Entity or Parent Entity has a domestic source tax loss carry-forward which is used to offset income of a foreign Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity. In these cases, where the carry-forward loss gave rise to a DTA which is taken into account for the purposes of determining the Main Entity or Parent Entity’s Total Deferred Tax Adjustment Amount, the relevant deferred tax expense will reverse when the carry-forward loss is used, resulting in an increase in the Adjusted Covered Taxes of the Parent Entity. In these circumstances, a Substitute Loss Carry-forward DTA will be treated as arising and reversing to the same extent as if the domestic source tax loss carry-forward were a domestic source tax loss in the same tax year and subject to the limitations in paragraph [82.3]. Similarly, a Substitute Loss Carry-forward DTA is also available in these circumstances where equivalent results are provided through another mechanism (for example, by recharacterizing subsequent domestic income as foreign source income for the purposes of the foreign tax credit limitation) that does not provide for an outcome that is more generous than the outcome that would be provided for if a loss carry-forward had been generated (i.e. a DTA recast at the Minimum Rate). 82.7 The Inclusive Framework will further consider whether this mechanism is fully effective in addressing cases where losses arising from the Main Entity or Parent Entity jurisdiction are used to offset income arising from a Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity. It will consider whether the applicable mechanism (including limitations on the application of the Substitute Loss Carry-forward DTA) is sufficient in all cases. The Inclusive Framework will also consider whether adjustments are appropriate in cases where a loss arising from one Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity is used against taxable income arising from another Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity under the Main Entity or Parent Entity’s domestic tax law.

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82.3 Certain CFC Tax Regimes do not allow foreign tax credit carry-forwards but provide for 4.2. Principles for allocating deferred taxes from one Constituent Entity to

equivalent results through a loss recapture mechanism that similarly allows excess foreign tax

another Constituent Entity

credits arising in a subsequent year to offset the domestic tax liability on the domestic source

income that has been re-sourced as foreign source income. Some domestic corporate income

4.2.1¶Introduction

tax regimes provide equivalent treatment through a loss recapture mechanism (including in cases where a foreign tax credit carry-forward is also allowed) for the foreign income of

10. The GloBE Rules seek to match Covered Taxes with the relevant GloBE Income. Where taxes are

foreign branches, Permanent Establishments or foreign subsidiaries which are treated as

accrued by a Constituent Entity in one jurisdiction with respect to GloBE Income which is earned by a

fiscally transparent under the domestic regime and which are Hybrid Entities or Reverse

different Constituent Entity located in another jurisdiction, the GloBE Rules allow for the cross-border Hybrid Entities under the GloBE Rules. Provided this the applicable loss recapture mechanism

allocation of Covered Taxes. This is addressed in Article 4.3 of the GloBE Rules. The allocation of Covered does not provide for an outcome that is more generous than the outcome that would be provided

Taxes from one Constituent Entity to another Constituent Entity is subject to various limitations, including for if a loss carry-forward had been generated (i.e. a DTA recast at the Minimum Rate), then

a limitation on the allocation of taxes incurred with respect to Passive Income where the tax has been equivalent adjustments shall be made as necessary to recognise the effect of this mechanism on

incurred with respect to a CFC, Hybrid Entity or Reverse Hybrid Entity. The Passive Income limitation is Adjusted Covered Taxes. To ensure equivalent outcomes under the GloBE Rules, if the

contained in Article 4.3.3. applicable regime does not allow foreign tax credit carry-forwards, the amount of a

11. Where Covered Taxes are expected to be accrued by a Constituent Entity in a different year to the Constituent Entity’s tax loss for a tax year that is subject to a recapture mechanism is treated as

giving rise to a Substitute Loss Carry-forward DTA arising in the year of the tax loss. In any case year in which that Constituent Entity earns the GloBE Income to which they relate, the rules addressing

in which such a loss recapture mechanism applies, whether or not a foreign tax credit carry- timing differences operate to match the timing of Covered Taxes to the timing of GloBE Income. Timing

forward is allowed, the Substitute Loss Carry-forward DTA is treated as reversing as the tax differences are addressed in Article 4.4 of the GloBE Rules, which relies upon deferred tax accounting.

loss is recaptured, but only to the extent the recapture mechanism increases the foreign tax credit 12. The Covered Taxes of the relevant Constituent Entity are adjusted by the Total Deferred Tax used to offset tax liability on income included in the Constituent Entity’s GloBE Income or Loss. Adjustment Amount. This is the mechanism used to manage timing differences between the recognition of

GloBE Income and the Covered Taxes which have been accrued with respect to that income. The Total

Deferred Tax Adjustment Amount is based upon the deferred tax expense or benefit which has been

9. The following paragraphs are to be added following paragraph [82.5] of the Commentary to accrued in the financial accounts of the Constituent Entity in accordance with Article 3.1 of the Model Rules

Article 4.4.1(e): (for example, the financial accounts used in the preparation of the Consolidated Financial Statements

where Article 3.1.2 applies) (subject to adjustments). Where the deferred tax expense or benefit has been 82.6 The issues outlined above also arise where a Main Entity or Parent Entity has a domestic

calculated by reference to a tax rate which is higher than the Minimum Rate, it will be ‘recast’ to the source tax loss carry-forward which is used to offset income of a foreign Permanent Establishment,

Minimum Rate. That is, the deferred tax assets and liabilities will be calculated as if the applicable tax rate CFC, Hybrid Entity or Reverse Hybrid Entity. In these cases, where the carry-forward loss gave

were 15% if the relevant statutory rate is above 15%. rise to a DTA which is taken into account for the purposes of determining the Main Entity or Parent Entity’s Total Deferred Tax Adjustment Amount, the relevant deferred tax expense will reverse 13. These two mechanisms (in Article 4.3 and Article 4.4) raise the question of how the GloBE Rules

when the carry-forward loss is used, resulting in an increase in the Adjusted Covered Taxes of the address cases where there is deferred tax expense or benefit recorded in the financial accounts of one

Parent Entity. In these circumstances, a Substitute Loss Carry-forward DTA will be treated as Constituent Entity which arises due to the GloBE Income of a different Constituent Entity. This is clarified

arising and reversing to the same extent as if the domestic source tax loss carry-forward were a in paragraph 42 to the Commentary on Article 4.3.1, which confirms that the allocation of Covered Taxes

domestic source tax loss in the same tax year and subject to the limitations in paragraph [82.3]. from one entity to another under Article 4.3.1 also applies to deferred taxes under Article 4.4.

Similarly, a Substitute Loss Carry-forward DTA is also available in these circumstances where

14. Deferred tax expenses or benefits with respect to CFC Tax Regimes can arise for different equivalent results are provided through another mechanism (for example, by recharacterizing

reasons. In some cases, a deferred tax liability arises because the income of the CFC is recognized for subsequent domestic income as foreign source income for the purposes of the foreign tax credit

accounting purposes before it is recognized for tax purposes. For instance, a deferred tax liability could limitation) that does not provide for an outcome that is more generous than the outcome that would

arise as a result of an asset owned by the CFC that is depreciated over 15 years under the applicable be provided for if a loss carry-forward had been generated (i.e. a DTA recast at the Minimum Rate).

accounting standard but can be depreciated over 5 years for the purposes of the relevant CFC Tax Regime.

82.7 The Inclusive Framework will further consider whether this mechanism is fully effective in

15. Alternatively, a deferred tax liability could arise because some CFC Tax Regimes only include the addressing cases where losses arising from the Main Entity or Parent Entity jurisdiction are used

CFC’s income in the taxable income of the Parent Entity in the following year. This one-year delay in the to offset income arising from a Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid

recognition of the income under the CFC Tax Regime creates a timing difference between the recognition Entity. It will consider whether the applicable mechanism (including limitations on the application

of the income in the accounts of the CFC under the applicable accounting standard and the inclusion of of the Substitute Loss Carry-forward DTA) is sufficient in all cases. The Inclusive Framework will

that same income under the CFC Tax Regime applicable to the Parent Entity. Accordingly, the Constituent also consider whether adjustments are appropriate in cases where a loss arising from one

Entity will record a deferred tax liability in recognition of the tax due the following year. Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity is used against taxable

income arising from another Permanent Establishment, CFC, Hybrid Entity or Reverse Hybrid Entity under the Main Entity or Parent Entity’s domestic tax law.

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16. Under certain circumstances, a Parent Entity may also record deferred tax assets with respect to a foreign subsidiary Constituent Entity which is subject to the applicable CFC Tax Regime. This could occur where there is an expense in the subsidiary which is recognised under the applicable accounting standard before it is allowed as a deduction under the applicable CFC Tax Regime. For example, the applicable accounting standard may provide a reserve for bad debts where bad debts are only deductible for tax purposes when the debt is proven to be un-collectible. 17. A further complication arises as different MNE Groups may adopt different practices with respect to the recognition of their deferred tax expenses or benefits where foreign tax credits arise with respect to the CFC’s income. For example, if the timing of recognition of income was the same under both the CFC’s domestic income tax regime and the CFC Tax Regime, the MNE Group may record the deferred tax liability on a ‘net basis’ or on a ‘gross basis’. Consider a case where 100 income is recognised for accounting purposes in year 1 but for tax purposes (in both the CFC’s domestic tax system and the CFC Tax Regime) it is recognised in Year 2. The applicable tax rate under CFC’s domestic income tax regime is 15% and the tax rate under the Parent Entity’s CFC Tax Regime was 20%. In Year 2, the Parent Entity will have a 20 pre-credit tax liability along with a 15 foreign tax credit for the 15 of tax paid by the CFC itself. As a result, the Parent Entity pays 5 of CFC Tax in Year 2. 18. If the MNE Group adopts a ‘net basis’ approach, the Parent Entity would simply record a 5 deferred tax liability in Year 1 when the income is recognised for accounting purposes. This 5 deferred tax liability reflects the net amount of CFC Tax Regime tax which is anticipated in Year 2 (after taking into account both the CFC’s income and the foreign tax credit for the CFC taxes). Alternatively, the MNE Group may adopt a ‘gross basis’ approach and record a 20 deferred tax liability for the CFC’s income as well as a 15 deferred tax asset for the anticipated foreign tax credit. 19. While the gross basis approach and the net basis approach net to the same position (5 deferred tax expense), the gross basis approach separately records a deferred tax asset for a foreign tax credit which, without further clarification, could be excluded from GloBE consideration due to the operation of Article 4.4.1(e). If the effect of the deferred tax asset for the expected foreign tax credit were ignored, the actual deferred tax expense that will arise under the CFC Tax Regime would be over-stated and it would not be appropriate to allocate the over-stated amount to the CFC under Article 4.3.2(c). In the example, there is only 5 of CFC tax that will arise in respect of the CFC’s income and no more than that should be allocated to the CFC under Article 4.3.2. Furthermore, the entire amount of the DTL must be excluded from the computation of the Constituent Entity-owner’s Adjusted Covered Taxes (except as provided in Article 4.3.3) because it is related to income that is earned by the CFC and is thus effectively excluded from the Constituent Entity-owner’s financial accounting income and thus its GloBE Income.

20. Accordingly, guidance is needed to clarify that only the net deferred tax can be allocated under Article 4.3.2 and that any deferred tax expense or benefit in excess of the net amount is excluded from the Constituent Entity-owner’s Adjusted Covered Taxes. The cross-border allocation of deferred taxes requires consideration of the relevant foreign tax credits in order to determine the net deferred tax amount for allocation. However, this does not mean that a deferred tax asset is granted with respect to foreign tax credits. Deferred tax assets with respect to tax credits are excluded from the Total Deferred Tax Adjustment Amount by the operation of Article 4.4.1(e). 21. The methodology for allocating deferred tax expenses or benefits from one Constituent Entity to another Constituent Entity must address two key limitations noted above. The first is the limitation on the allocation of Passive Income in Article 4.3.3. The second is the requirement to ‘recast’ deferred tax expenses or benefits to the Minimum Rate where they have been recorded at above the Minimum Rate. 22. With respect to the Passive Income limitation in Article 4.3.3, the limitation operates so that the Covered Taxes in excess of the limitation remain Covered Taxes of the Parent Entity. The Passive Income limitation is designed to prevent the pushdown of CFC Taxes on Passive Income from ‘sheltering’ other sources of low taxed profit in the subsidiary jurisdiction.

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16. Under certain circumstances, a Parent Entity may also record deferred tax assets with respect to 23. With respect to the ‘recast’ requirement in Article 4.4,1, the taxes referable to the amount in excess a foreign subsidiary Constituent Entity which is subject to the applicable CFC Tax Regime. This could of 15% are counted when they are accrued in current tax expense. For example, if there is 100 of income occur where there is an expense in the subsidiary which is recognised under the applicable accounting recognized for accounting purposes in Year 1 but only recognized for tax purposes in Year 2 and an standard before it is allowed as a deduction under the applicable CFC Tax Regime. For example, the applicable tax rate of 20%, the Constituent Entity can only take into account a 15 deferred tax expense applicable accounting standard may provide a reserve for bad debts where bad debts are only deductible (that is, it has been subject to a ‘recast’ at 15%). This can allow the Constituent Entity to recognize 15 of for tax purposes when the debt is proven to be un-collectible. Adjusted Covered Taxes in Year 1 to match the recognized GloBE Income. In Year 2, the timing difference

reverses and the Constituent Entity pays 20 of tax under the domestic tax system. For GloBE purposes, 17. A further complication arises as different MNE Groups may adopt different practices with respect

this results in a net inclusion of 5 in Year 2 Adjusted Covered Taxes as a result of an inclusion of 20 of to the recognition of their deferred tax expenses or benefits where foreign tax credits arise with respect to

Covered Taxes and a reduction of 15 of reversed deferred tax expenses. The result is that the non-recast the CFC’s income. For example, if the timing of recognition of income was the same under both the CFC’s

amount (the 5 in excess of the allowed deferred tax expense) is taken into account when it is accrued in domestic income tax regime and the CFC Tax Regime, the MNE Group may record the deferred tax liability

current tax expense. on a ‘net basis’ or on a ‘gross basis’. Consider a case where 100 income is recognised for accounting purposes in year 1 but for tax purposes (in both the CFC’s domestic tax system and the CFC Tax Regime) 24. Blended CFC Tax regimes present specific challenges with respect to the cross-border allocation it is recognised in Year 2. The applicable tax rate under CFC’s domestic income tax regime is 15% and of taxes. At least in part as a result of these challenges, Authorised Financial Accounting Standards do not the tax rate under the Parent Entity’s CFC Tax Regime was 20%. In Year 2, the Parent Entity will have a always require, or even allow, for deferred tax expenses or benefits to be calculated with respect to 20 pre-credit tax liability along with a 15 foreign tax credit for the 15 of tax paid by the CFC itself. As a Blended CFC Tax Regimes. In light of both this complexity and the inconsistent treatment between result, the Parent Entity pays 5 of CFC Tax in Year 2. accounting standards, this guidance disregards both the accrual and reversal of any deferred tax expense

or benefit associated with a Blended CFC Tax Regime such that only current tax expense associated with 18. If the MNE Group adopts a ‘net basis’ approach, the Parent Entity would simply record a 5 deferred

a Blended CFC Tax Regime is allocable under Article 4.3.2(c). Accordingly, the cross-border allocation of tax liability in Year 1 when the income is recognised for accounting purposes. This 5 deferred tax liability

Blended CFC Tax Regimes is exclusively addressed in paragraphs 58.1 to 58.7 of the Commentary to reflects the net amount of CFC Tax Regime tax which is anticipated in Year 2 (after taking into account

Article 4.3.2. both the CFC’s income and the foreign tax credit for the CFC taxes). Alternatively, the MNE Group may adopt a ‘gross basis’ approach and record a 20 deferred tax liability for the CFC’s income as well as a 15

4.2.2¶Issues

deferred tax asset for the anticipated foreign tax credit.

19. While the gross basis approach and the net basis approach net to the same position (5 deferred 25. Administrative Guidance is necessary to clarify the methodology by which deferred tax expenses tax expense), the gross basis approach separately records a deferred tax asset for a foreign tax credit and benefits recorded with respect to a Parent Entity (or Main Entity) are to be allocated to another which, without further clarification, could be excluded from GloBE consideration due to the operation of Constituent Entity under Article 4.3.2(a), (c), (d), (e). Article 4.4.1(e). If the effect of the deferred tax asset for the expected foreign tax credit were ignored, the actual deferred tax expense that will arise under the CFC Tax Regime would be over-stated and it would 4.2.3. Guidance not be appropriate to allocate the over-stated amount to the CFC under Article 4.3.2(c). In the example,

26. Where a deferred tax expense or benefit arises in the financial accounts of a Parent Entity with there is only 5 of CFC tax that will arise in respect of the CFC’s income and no more than that should be allocated to the CFC under Article 4.3.2. Furthermore, the entire amount of the DTL must be excluded from respect to a CFC Tax Regime, the deferred tax expense or benefit is allocated to the applicable CFC and

recast to the Minimum Rate if the Parent Entity’s applicable tax rate is higher than 15%. However, the the computation of the Constituent Entity-owner’s Adjusted Covered Taxes (except as provided in Article 4.3.3) because it is related to income that is earned by the CFC and is thus effectively excluded from the cross-border allocation is subject to the limitation in Article 4.3.3 on the ‘push down’ of Passive Income.

The cross-border allocation of the deferred tax expense or benefit is to occur on a ‘net basis’ which Constituent Entity-owner’s financial accounting income and thus its GloBE Income.

prevents the allocation of a deferred tax expense which will not be paid due to an offsetting foreign tax 20. Accordingly, guidance is needed to clarify that only the net deferred tax can be allocated under

credit. This approach is designed to maintain consistency with both the mechanisms for allocating Covered Article 4.3.2 and that any deferred tax expense or benefit in excess of the net amount is excluded from the

Taxes from one Constituent Entity to another Constituent Entity and for addressing timing differences. Constituent Entity-owner’s Adjusted Covered Taxes. The cross-border allocation of deferred taxes requires

27. The principles applicable to allocation of deferred CFC taxes also apply with respect to allocation consideration of the relevant foreign tax credits in order to determine the net deferred tax amount for allocation. However, this does not mean that a deferred tax asset is granted with respect to foreign tax of deferred taxes of a Parent Entity in respect of income from a Hybrid Entity or Reverse Hybrid Entity and

deferred taxes of a Main Entity in respect of a Permanent Establishment, except that Article 4.3.3. does credits. Deferred tax assets with respect to tax credits are excluded from the Total Deferred Tax Adjustment Amount by the operation of Article 4.4.1(e). not apply to taxes allocable to a Permanent Establishment.

21. The methodology for allocating deferred tax expenses or benefits from one Constituent Entity to

Allocation of deferred tax expenses or benefits under a CFC Tax Regime

another Constituent Entity must address two key limitations noted above. The first is the limitation on the allocation of Passive Income in Article 4.3.3. The second is the requirement to ‘recast’ deferred tax 28. This Guidance is to be applied for CFC Tax Regimes, other than Blended CFC Tax Regimes. The expenses or benefits to the Minimum Rate where they have been recorded at above the Minimum Rate. guidance sets out a five-step process for allocating deferred tax expenses or benefits under Article 4.3.2(c).

22. With respect to the Passive Income limitation in Article 4.3.3, the limitation operates so that the Covered Taxes in excess of the limitation remain Covered Taxes of the Parent Entity. The Passive Income limitation is designed to prevent the pushdown of CFC Taxes on Passive Income from ‘sheltering’ other sources of low taxed profit in the subsidiary jurisdiction.

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29. The first step is to separate the deferred tax assets and liabilities reflected in the Parent Entity’s financial accounts with respect to the assets and liabilities of each CFC Constituent Entity and determine the deferred tax expense or benefit (that is, a negative deferred tax expense) as a consequence of the movement of such assets and liabilities in the particular year split between the following three categories based upon the relevant income of the CFC:

a. Income which is not GloBE Income; b. GloBE Income which is not Passive Income; and c. GloBE Income which is Passive Income.

30. The second step is to calculate the pre-foreign tax credit deferred tax expense or benefit arising under the CFC Tax Regime for the Parent Entity (Step 2A) as well any creditable foreign taxes expected to be paid by the CFC Constituent Entity which would give rise to foreign tax credits which would be available (absent a foreign tax credit limitation) to offset the expected pre-foreign tax credit expense (‘Relevant Creditable Foreign Taxes’)(Step 2B). Some Constituent Entities may already record the preforeign tax credit deferred tax expense with respect to CFC Income separately from the deferred tax asset for the relevant foreign tax credit in their financial accounts. Other Constituent Entities may adopt a ‘net basis’ approach and only record the net deferred tax expense having taken into account both the preforeign tax credit liability under the CFC Tax Regime and a foreign tax credit for the foreign taxes paid by the CFC Constituent Entity expected to offset the pre-foreign tax credit liability. To the extent the financial accounts adopt a ‘net basis’ approach, the calculation will need to be disaggregated to calculate the preforeign tax credit deferred tax expense for the CFC tax separately from the relevant deferred tax benefit (that is, negative deferred tax expense) arising from the foreign tax credits. 31. The Relevant Creditable Foreign Taxes under Step 2B comprises two amounts. First, it includes any creditable foreign taxes which have been paid with respect to the relevant source of income. This includes taxes paid in a different tax year but giving rise to foreign tax credits which could be carried forward or carried back to offset the expected pre-foreign tax credit liability under the domestic tax regime of the Parent Entity. This first amount is not limited by any applicable foreign tax credit limitation. Second, it includes a reasonable allocation of excess foreign tax credits arising from other sources of income which are available for use against the relevant source of income under the tax regime applicable in the Parent Entity jurisdiction. This will include excess foreign tax credits arising from income of other entities located in other jurisdictions if such tax credits may be cross-credited under the tax regime applicable in the Parent Entity jurisdiction. The amount of excess foreign tax credits arising from other sources of income is limited by any applicable foreign tax credit limitation. Any excess foreign tax credits must be allocated between the relevant pre-foreign tax credit deferred tax expenses using a reasonable allocation method which takes into account the design of the relevant domestic tax system and making reasonable assumptions where necessary. A reasonable method could not result in an allocation of the same creditable foreign tax in multiple years. The total Relevant Creditable Foreign Taxes under Step 2B cannot exceed the pre-foreign tax credit deferred tax expense calculated under Step 2A. 32. For example, consider a case where there is an expected future inclusion of 100 of CFC Income in the Parent Entity which is subject to a 25% rate with an expected foreign tax credit of 5 on the relevant income. Some Constituent Entities may record this in their financial accounts as a 25 deferred tax expense on the CFC Income in addition to a 5 deferred tax asset (and therefore deferred tax benefit) for the 5 of foreign tax credits. Other Constituent Entities may record this in their financial accounts as a net 20 deferred tax expense. If a Constituent Entity adopts the latter approach, the deferred tax expense on the CFC Tax will need to be disaggregated into two amounts to determine the pre-foreign tax credit deferred tax expense (25) and the Relevant Creditable Foreign Taxes with respect to this expense (5).