Taxes Consolidation Act 1997 section 111AAG

Care and management

Section 111AAG places the three GloBE top-up taxes (IIR top-up tax, UTPR top-up tax and domestic top-up tax) under the care and management of the Revenue Commissioners and sets out the modifications needed to apply existing tax administration rules to these new taxes.

• IIR top-up tax, UTPR top-up tax and domestic top-up tax are all under the care and management of the Revenue Commissioners.
• The existing administrative framework in Part 37 TCA 1997 applies to these taxes, with references to "corporation tax" and "the Tax Acts" in specified sections extended to cover the GloBE top-up taxes.
• Key definitions are adapted so that "accounting period" includes "fiscal year", "chargeable person" includes qualifying entities, relevant UTPR entities and relevant parent entities, and "chargeable period" takes its meaning from "fiscal year" as defined in section 111A.
• References in section 870 to the Capital Gains Tax Acts, to tax, and to assessment are each broadened to encompass the GloBE top-up taxes and assessments under Part 4A.