Section 201 — AKTA KEWANGAN (NO. 2) 2023

(2)

A Constituent Entity located in Malaysia of that

Multinational Enterprise Group may elect to appoint a

Designated Local Entity to furnish to the Director General the information return referred to in subsection (1), on its behalf.

(3)

Subsections (1) and (2) shall not apply if the information return in the prescribed form has been filed not later than fifteen months from the last day of the Reporting Financial

Year by—

(a)

the Ultimate Parent Entity of that Multinational

Enterprise Group that is located in a jurisdiction that has a Qualifying Competent Authority Agreement in effect with the Government for the

Reporting Financial Year; or

(b)

a Designated Filing Entity that is located in a jurisdiction that has a Qualifying Competent

Authority Agreement in effect with the Government for the Reporting Financial Year and the

Multinational Enterprise Group has elected to appoint that Designated Filing Entity to furnish to the Director General the information return referred to in subsection (1), on its behalf.

(4)

The election in subsection (2) or (3) shall be made by a notice in writing in the prescribed form and furnished to the Director General not later than fifteen months from the last day of the Reporting Financial Year by a

Constituent Entity or by a Designated Local Entity on behalf of that Constituent Entity.

(5)

For the purposes of this section, an information return or a notice in writing shall be furnished to the Director General in a prescribed form on an electronic medium or by way of electronic transmission in accordance with section 152a.

(6)

For the purposes of this section—

(a)

an information return concerning the Multinational

Enterprise Group for a Reporting Financial Year shall contain—

(i)

identification of the Constituent Entities, including their tax identification numbers, the jurisdiction in which they are located

Undang-Undang Malaysia 138

Akta 851

and their status as a Partially-Owned

Parent Entity, Joint Venture, Joint Venture subsidiary, Investment Entity, Flow-through

Entity, or Permanent Establishment under this Part;

(ii)

information on the overall corporate structure of the Multinational Enterprise

Group including the Controlling Interests in the Constituent Entities held by other

Constituent Entities;

(iii)

the information necessary to compute—

(A)

the Effective Tax Rate for each jurisdiction and the Domestic Top-up

Tax or Multinational Top-up Tax of each Constituent Entity under

Chapter 7 of this Part;

(B)

the Domestic Top-up Tax or

Multinational Top-up Tax of a member of the Joint Venture

Group under Chapter 8 of this Part;

(C)

the allocation of Multinational Top-up

Tax under the Income Inclusion Rule to each jurisdiction under Chapter 4

of this Part;

(iv)

a record of the elections made in accordance with the relevant provisions of this Part;

(v)

other information that is agreed as part of the

GloBE Implementation Framework and is necessary to carry out the administration of this Part; and

(vi)

such particulars as may be required by the Director General;

(b)

a notice in writing shall contain such particulars as may be required by the Director General.

Kewangan (No. 2)

(7)

In this section—

“Designated Local Entity” means the Constituent Entity of a Multinational Enterprise Group that is located in Malaysia throughout the relevant Reporting Financial Year and that has been appointed by another Constituent Entity located in

Malaysia of that Multinational Enterprise Group;

“Qualifying Competent Authority Agreement” means a bilateral or multilateral agreement or arrangement between

Competent Authorities that provides for the automatic exchange of annual information returns.

Top-up Tax return by Constituent Entity