Taxation Administration Act 1953

This section applies in relation to an *Applicable MNE Group for a *Fiscal Year if:

either:

the *GloBE Ultimate Parent Entity of the Applicable MNE Group is *GloBE located in a foreign country or part of a foreign country that has a *Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; or

a *Designated Filing Entity in relation to the *GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year is GloBE located in a foreign country or part of a foreign country that has a Qualifying Competent Authority Agreement in effect with Australia for the Fiscal Year; and

the GloBE Ultimate Parent Entity or Designated Filing Entity gives a GloBE Information Return in respect of the Applicable MNE Group for the Fiscal Year to a *foreign government agency of the foreign country or part of the foreign country no later than the time specified in section 127‑60 in relation to the Fiscal Year.

Each *Group Entity of the *Applicable MNE Group that is required to give a *GloBE Information Return in respect of the Applicable MNE Group for the *Fiscal Year to the Commissioner:

is taken to give the GloBE Information Return to the Commissioner, in accordance with subsection 127‑5(2), at the time the *GloBE Ultimate Parent Entity or *Designated Filing Entity gives the GloBE Information Return to the *foreign government agency; and

must give the Commissioner a notice in accordance with subsection 127‑30(1) in respect of the Applicable MNE Group for the Fiscal Year.

A foreign country or part of a foreign country has a Qualifying Competent Authority Agreement in effect with Australia for a *Fiscal Year if an agreement or arrangement that:

is between 2 or more competent authorities:

at least one of which is a competent authority of Australia; and

at least one of which is a competent authority of that foreign country or part of a foreign country; and

provides for the automatic exchange of annual *GloBE Information Returns for the Fiscal Year;

If:

under subsection (2), a *Group Entity of the *Applicable MNE Group is taken to give a *GloBE Information Return in respect of the Applicable MNE Group for the *Fiscal Year to the Commissioner because the GloBE Information Return is given to a *foreign government agency; and

the relevant *Qualifying Competent Authority Agreement provides for the GloBE Information Return to be given to the Commissioner by a specified time; and

that time has passed, but the GloBE Information Return has not been given to the Commissioner under the Qualifying Competent Authority Agreement;

The *Group Entity must comply with the request in accordance with subsection (6).

The *GloBE Information Return given under subsection (5) must be *lodged electronically.