- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
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(1)The filing member of a multinational group may elect that the total top-up amount for an accounting period (“the current period”) for a territory is to be treated as nil.
(2)An election under this section may be made only if—
(a)the average revenue for an accounting period of the standard members of the group in that territory is less than 10 million euros, and
(b)the average of the adjusted profits of those members for an accounting period is less than 1 million euros.
(3)The average revenue for an accounting period of the standard members of a multinational group in a territory is determined by adding together all of the revenue of those members in each qualifying accounting period, and dividing the result by the number of qualifying accounting periods.
(4)The average of the sum of the adjusted profits of the standard members of a multinational group in a territory is determined by taking the following steps—
Step 1
Determine the sum of the adjusted profits of each of those members for each qualifying accounting period.
Step 2
Add together the results of Step 1.
Step 3
Divide the result of Step 2 by the number of qualifying accounting periods.
(5)The current period is a qualifying accounting period.
(6)Each of the previous two accounting periods is a qualifying period unless—
(a)none of the standard members of the group in the territory had revenue in that period, and
(b)none of the standard members of the group in the territory made a loss in that period.
(7)Where a qualifying period is longer or shorter than a year, the adjusted profits and revenue of the members are to be treated for the purposes of this section as the amounts given by multiplying the profits and revenue by the amount given by dividing 365 by the number of days in the period.
(8)An election under this section may not be made in respect of the nominal territory of a stateless member of a multinational group.
(9)Paragraph 2 of Schedule 15 (annual elections) applies to an election under this section.
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