Schedules

Schedule 14Administration of multinational top-up tax

Part 11Penalties

50Multiple penalties in respect of same accounting period

1

This paragraph applies where a person incurs more than one penalty in respect of multinational top-up tax in the same accounting period.

2

The amount of each penalty after the first is to be reduced so that the total amount of all such penalties in the period does not exceed the greatest amount incurred for any such penalty.