Part 3Multinational top-up tax
Chapter 5Covered tax balance
Amount of covered taxes
175Amounts excluded from covered tax balance
1
The amounts referred to in subsection (2) are to be excluded from a member of a multinational group’s qualifying current tax expense (to the extent they would otherwise be included).
2
Those amounts are as follows—
a
any amount that relates to income or gains that are not included in the member’s adjusted profits;
b
any amount that relates to an uncertain tax position;
c
any amount of credit or refund in respect of a qualifying refundable tax credit that is recorded as a reduction of qualifying current tax expense;
d
any amount that is not expected to be paid before the end of the period of three years commencing with the first day after the end of the accounting period;
e
any amount allocated to another member of the multinational group in accordance with this Part;
f
any amount excluded under section 180(3)(b) (blended CFC regime).