Revenue Note for Guidance

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Revenue Note for Guidance

111AAI Top-up tax information return

Details

Application

(1) This subsection places an obligation on a constituent entity to prepare and deliver to the Revenue Commissioners a top-up tax information return. The return must contain complete and correct details and be delivered on or before the specified return date. That return must be in accordance with the standardised GloBE information return published by the OECD and contain the information in subsection (3).

Group filing

(2)(a) Paragraph (a) provides that a constituent entity may appoint another constituent entity located in the State to prepare and deliver to the top-up tax information return to the Revenue Commissioners on behalf of that entity. This appointment must be notified to the Revenue Commissioners. Only one entity in an MNE group or joint venture group as the case may be, may be appointed as a designated local entity.

(2)(b) Paragraph (b) provides that a constituent entity may dispose of its obligation to file a top-up tax information return where the return is delivered to a tax authority in another jurisdiction by the ultimate parent entity or designated filing entity located in a jurisdiction that has a qualifying competent authority agreement in effect with the State for the relevant fiscal year.

(2)(c) Paragraph (c) provides that where the return is filed by an entity under paragraph (b), the constituent entity must deliver a notification of filer, which contains the information set out in subsection (7), to Revenue on or before the specified return date.

Top-up tax return

(3) This subsection specifies the information to be included in the top-up tax information return. A top-up tax information return shall include:

  • (3)(a) the name, TIN, location and status for the purposes of the Directive of each entity;
  • (3)(b) information on the overall corporate structure of the MNE group or large-scale domestic group, including controlling interests in the constituent entities held by other constituent entities;
  • (3)(c) such information that is necessary to calculate:
    1. the effective tax rate for each jurisdiction,
    2. the top-up tax for each constituent entity,
    3. the top-up tax of a member of a joint venture group, and
    4. the allocation of the top-up tax amount under the qualified IIR and the qualified UTPR for each jurisdiction,
  • (3)(d) a record of the elections made or withdrawn,
  • (3)(e) such further particulars in relation to this Part as the Revenue Commissioners may reasonably require.

(4) Where the constituent entity does not have the required information to prepare and deliver a return, that entity shall request the required information from the ultimate parent entity. Where the ultimate parent entity fails to provide such information, the constituent entity shall notify Revenue of that failure.

(5)(a)&(b) Where the ultimate parent entity is located in a third-country jurisdiction that applies rules that have been assessed as equivalent to the rules of the Directive, pursuant to Article 52 of the Directive, the constituent entity or designated local entity must prepare and deliver a top-up tax information return with the information provided for in this subsection. That return must contain all information necessary for the application of section 111H (partially-owned parent entity in the State), all information necessary for the application of section 111M (application of UTPR in territory of ultimate parent entity) and all information necessary for the application of a qualified domestic top-up tax of a Member State.

(6) A return delivered under this section may be amended where that amendment is necessary to correct either an error or mistake or to comply with any provision of this Part.

Notification of filer

(7) This subsection provides the details to be contained on the notification of filer such as:

  • (7)(a) the name of that constituent entity,
  • (7)(b) the TIN of that constituent entity,
  • (7)(c) the name of the entity filing the top-up tax information return,
  • (7)(d) the location of the entity filing the top-up tax information return,
  • (7)(e) the TIN of the entity filing the top-up tax information return, and
  • (7)(f) such other information in relation to this Part as the Revenue Commissioners may reasonably require.

(8) This subsection places an obligation on a qualifying entity (within the meaning of section 111AAB(1)(c)) to prepare and deliver to the Revenue Commissioners a top-up tax information return for an accounting period on or before the specified return date.

Relevant Date: Finance Act 2024