111AAL.   UTPR group

(1) For the purposes of this Chapter, a ‘UTPR group’ for a fiscal year shall comprise all of the constituent entities of an MNE group that would, in the absence of subsection (2), be required, in accordance with section 111AAK, to prepare and deliver to the Revenue Commissioners a UTPR return for the fiscal year (in this Chapter referred to as the ‘relevant UTPR members’), where all such relevant UTPR members—

(a) have elected to be members of the UTPR group, and

(b) have appointed one such member (in this Part referred to as the ‘UTPR group filer’) to prepare and deliver the UTPR return on behalf of the relevant UTPR members,

before the specified return date for the fiscal year.

(2) A UTPR group filer shall prepare and deliver a UTPR return, in respect of all of the relevant UTPR members, for the fiscal year on or before the specified return date.

(3) Where a UTPR group filer prepares and delivers a UTPR return, in respect of all relevant UTPR members, for a fiscal year on or before the specified return date—

(a) section 111AAK shall not apply to the other relevant UTPR members other than the UTPR group filer (in this subsection referred to as ‘the other relevant UTPR members’) for the fiscal year,

(b) the other relevant UTPR members shall not be chargeable to UTPR top-up tax in respect of the fiscal year, and

(c) the UTPR group filer shall be chargeable to an amount of UTPR top-up tax in respect of all of the relevant UTPR members in respect of whom the return is prepared and delivered for the fiscal year and such an amount shall be equal to the UTPR top-up tax amount of the MNE group allocated to the State, as determined in accordance with section 111N(2).

(4) A payment made by a relevant UTPR member to the UTPR group filer in respect of, but not exceeding, the amount of UTPR top-up tax that the relevant UTPR member would have been chargeable to in respect of the fiscal year if subsection (3) did not apply, shall not—

(a) be taken into account in calculating profits or losses of either company for corporation tax purposes, and

(b) be regarded as a distribution or a charge on income for any of the purposes of the Corporation Tax Acts.

(5) A relevant UTPR member may withdraw an election made under subsection (1) and where such a withdrawal is made subsections (2) to (4) shall not apply to fiscal years in respect of which the specified return date occurs after the date on which the withdrawal of the election is submitted to the Revenue Commissioners.