Multinational Enterprise (Minimum Tax) Act 2024 · s 27

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—(1) The purpose of this Part is to implement a top‑up tax in respect of an MNE group that is intended to be a qualified domestic minimum top‑up tax within the meaning of the GloBE rules.(2) For that purpose, this Part makes provision for a tax payable in respect of an MNE group where the conditions in section 28(1) are satisfied for a financial year.(3) The tax is to be known as the “domestic top‑up tax” or “DTT”.(4) The provisions of this Part must be interpreted in a manner that is consistent with the purpose in subsection (1).
The purpose of this Part is to implement a top‑up tax in respect of an MNE group that is intended to be a qualified domestic minimum top‑up tax within the meaning of the GloBE rules.
For that purpose, this Part makes provision for a tax payable in respect of an MNE group where the conditions in section 28(1) are satisfied for a financial year.
The tax is to be known as the “domestic top‑up tax” or “DTT”.
The provisions of this Part must be interpreted in a manner that is consistent with the purpose in subsection (1).

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s 27Purpose of this Part

(1)

The purpose of this Part is to implement a top‑up tax in respect of an MNE group that is intended to be a qualified domestic minimum top‑up tax within the meaning of the GloBE rules.

(2)

For that purpose, this Part makes provision for a tax payable in respect of an MNE group where the conditions in section 28(1) are satisfied for a financial year.

(3)

The tax is to be known as the “domestic top‑up tax” or “DTT”.

(4)

The provisions of this Part must be interpreted in a manner that is consistent with the purpose in subsection (1).