C5 – Top-up Tax Allocation

Overview

In the Tax Compliance & Reporting solution, the C5 – Top-up Tax Allocation workspace displays the top-up tax payable by low-taxed CEs and members of joint venture groups.

The tax is calculated by distributing the top-up tax amount per jurisdiction or subgroup to the low-taxed CEs with a positive GloBE income based on their share of the total GloBE income in that jurisdiction or subgroup.

If a CE qualifies for the NMCE Safe Harbour, i.e. the NMCE Safe Harbour Check was successful and EE-1 has been activated for the CE (see Entity Election and General Information workspace in the OECD-Standard folder), the CE is excluded from the workspace.

This article contains the following sections:

The C5 – Top-up Tax Allocation workspace can be found at Pillar 2 | Calculation | C5 – Top-up Tax Allocation and is displayed as follows:

The 'C5 – Top-up Tax Allocation' workspace is displayed. 'C5 – Top-up Tax Allocation' workspace

To access this workspace and display the desired values:

Select a snapshot in the Home workspace.

Navigate to C5 – Top-up Tax Allocation.

Select the jurisdiction or subgroup you want to review from the Jurisdiction drop-down list.

Notes on the Individual Sections
Low-taxed CE Allocated Top-Up Tax

Field

Description

TA-1

ISO code of the jurisdiction or subgroup.

TA-2.1

Positive GloBE income of the low-taxed CE or member of Joint Venture Group.

TA-2.2

Total GloBE Income of the Jurisdiction or Subgroup. Equal to INC-3 of the entire jurisdiction or subgroup.

TA-2

Relevant Percentage of the Net GloBE Income: {TA-2.1} / {TA-2.2} * 100.

TA-3.1

Total Top-Up Tax Amount of the Jurisdiction or Subgroup. Equal to TT-3.

TA-3

Top-Up Tax Amount of the low-taxed CE or member of Joint Venture Group: {TA-2} * {TA-3.1} / 100.

Income Inclusion Rule

Field

Description

TA-4.1

Inclusion of Top-up Tax Expense of subsidiaries. Equal to the Total amount in IR-1.

TA-4.2

Income Inclusion Rule Offset: {TA-3} * {TA-4.1} / 100.

TA-5

Allocation of Top-up Tax Amount to local CE under a QDMTT.

Additional Current Top-up Tax

Field

Description

TA-6.1

Total Amount of Additional Current Top-up Tax of the Jurisdiction or Subgroup.

TA-6.2

Allocation Basis.

TA-6.3

Allocation Rate.

TA-6

Additional Current Top-up Tax allocated to CE or member of Joint Venture Group.

TA-7

Additional Current Top-up Tax Expense of CE or member of Joint Venture Group.

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