Schedules

Schedule 16Multinational top-up tax: transitional provision

Part 2Transitional safe harbour

Chapter 1Transitional safe harbour election

7Threshold test

1

The threshold test is met for a territory in an accounting period if—

a

the revenue of the standard members in that territory for the period is less than 10 million euros, and

b

the aggregate profit (loss) before income tax of those members for that period is less than 1 million euros.

2

Where those members include members that are held for sale and the revenue of those members is not otherwise included in the amount determined for the purposes of sub-paragraph (1)(a), that revenue is to be so included.