Schedules

Schedule 16Multinational top-up tax: transitional provision

Part 2Transitional safe harbour

Chapter 2Application to joint ventures etc

Application to investment entities in same territory as owners

11

(1)

Subsection (2) applies where—

(a)

an investment entity that is a member of a multinational group, and

(b)

all of the members of a multinational group with direct ownership interests in it,

are located in the same territory.

(2)

The investment entity is to be treated as a standard member of that group for the purposes of this Part of this Schedule.