Part 3Multinational top-up tax
Chapter 10Definitions etc
Ownership of entities
243Calculating percentage ownership interests of a specific entity or individual
1
For the purpose of determining the percentage ownership interests in an entity (“A”) held by a specific entity or individual (“B”)—
a
ignore any indirect ownership interest not held by B, and
b
where B has an indirect ownership interest in A, reduce the direct ownership interest from which it is derived by the amount of that indirect ownership interest.
2
But this section does not apply for the purpose of any provision that requires the calculation of direct ownership interests only.