S.L. 123.212 Art. 5Filing obligations. 18 [S.L. 19 20 [S.L.

(1) For the purposes of this regulation, the following definitions shall apply:

"designated local entity" shall mean the constituent entity of an MNE group or of a large-scale domestic group that is located in Malta and has been appointed by the other constituent entities of the MNE group or large-scale domestic group located in Malta to file the top-up tax information return or submit the notifications in accordance with this regulation on their behalf;

"qualifying competent authority agreement" shall mean a TAXATION FOR MULTINATIONAL ENTERPRISE GROUPS 123.212 AND LARGE-SCALE DOMESTIC GROUPS

bilateral or multilateral agreement or arrangement between two

(2) or more competent authorities that provides for the automatic exchange of annual top-up tax information returns.

(2) A constituent entity located in Malta shall file a top-up tax information return with the Commissioner, in accordance with sub-regulation (5):

Provided that such return may be filed by a designated local entity on behalf of the constituent entity:

Provided further that such return shall be on such form and in such manner as the Commissioner may require.

(3) Notwithstanding the provisions of sub-regulation (2), a constituent entity shall not have the obligation to file a top-up tax information return with the Commissioner if such return has been filed, in accordance with the requirements set out in sub-regulation (5), by:

(a) the ultimate parent entity located in a jurisdiction that has, for the reporting fiscal year, a qualifying competent authority agreement in effect with Malta; or

(b) the designated filing entity located in a jurisdiction that has, for the reporting fiscal year, a qualifying competent authority agreement in effect with Malta.

(4) Where sub-regulation (3) applies, the constituent entity located in Malta, or the designated local entity on its behalf, shall notify the Commissioner of the identity of the entity that is filing the top-up tax information return as well as the jurisdiction in which it is located:

Provided that such notification shall be made to the Commissioner on such form and in such manner as the Commissioner shall determine.

(5) The top-up tax information return shall be filed in a standard template and include the following information with respect to the MNE group or large-scale domestic group:

(a) identification of the constituent entities, including their tax identification numbers, if any, the jurisdiction in which they are located and their status under these regulations;

(b) information on the overall corporate structure of the MNE group or large-scale domestic group, including the controlling interests in the constituent entities held by other constituent entities;

(c) the information that is necessary in order to compute:

(i) the effective tax rate for each jurisdiction and the top-up tax of each constituent entity;

(ii) the top-up tax of a member of a joint venture group;

(iii) the allocation of top-up tax under the IIR and the UTPR top-up tax amount to each jurisdiction; and

(d) a record of the elections made in accordance with these regulations.

(6) Notwithstanding the provisions of sub-regulation (5), where a constituent entity is located in Malta with an ultimate parent entity located in a third-country jurisdiction that applies rules which have been assessed as equivalent to these regulations pursuant to regulation 13, the constituent entity or the designated local entity shall file a top-up tax information return containing the following information:

(a) all information that is necessary for the application of Article 8 of the European Union Global Minimum Tax Directive, including:

(i) identification of all the constituent entities in which a partially-owned parent entity located in Malta holds, directly or indirectly, an ownership interest at any time during the fiscal year and the structure of such ownership interests;

(ii) all information that is necessary to compute the effective tax rate of the jurisdictions in which a partially-owned parent entity located in Malta holds ownership interests in constituent entities identified under paragraph (i) and the top-up tax due; and

(iii) all information that is relevant for that purpose in accordance with Articles 9, 10 or 11 of the European Union Global Minimum Tax Directive;

(b) all information that is necessary for the application of Article 13 of the European Union Global Minimum Tax Directive, including: TAXATION FOR MULTINATIONAL ENTERPRISE GROUPS 123.212 AND LARGE-SCALE DOMESTIC GROUPS

(i) identification of all the constituent entities located in the ultimate parent entity jurisdiction and the structure of such ownership interests;

(ii) all information that is necessary in order to compute the effective tax rate of the ultimate parent entity’s jurisdiction and its top-up tax due; and

(iii) all information necessary for the allocation of such top-up tax based on the UTPR allocation formula set out in Article 14 of the European Union Global Minimum Tax Directive;

(c) all information that is necessary for the application of a qualified domestic top-up tax by any Member State that has made the election to apply such a top-up tax, in accordance with Article 11 of the European Union Global Minimum Tax Directive.

(7) (a) The top-up tax information return referred to in sub-regulations (5) and (6) shall be filed with the Commissioner no later than fifteen (15) months after the last day of the reporting fiscal year;

(b) Any relevant notifications in terms of this regulation shall be filed with the Commissioner no later than twelve (12) months after the last day of the reporting fiscal year.