Threshold requirement4
1
In regulation 3, the “threshold requirement” means that the MNE Group has a total consolidated group revenue of €750 million or more for an accounting period—
a
as shown in its Consolidated Financial Statements; or
b
as would have been shown in its Consolidated Financial Statements had the Group been required to produce them by reason of the trading of equity interests in any of the enterprises in the MNE Group on a public securities exchange.
2
Where an MNE Group draws up, or would draw up, its Consolidated Financial Statements for an accounting period in a currency other than euros, the reference to €750 million in paragraph (1) has effect as if it referred to the equivalent in that currency at the average exchange rate for the accounting period.
3
When the accounting period of an MNE Group is a period of less than 12 months, the amount of €750 million in paragraph (1) (or the equivalent under paragraph (2)) is reduced proportionately.