Taxes Consolidation Act 1997 section 111AG

De minimis exclusion

Section 111AG provides a de minimis exclusion that allows an MNE group or large-scale domestic group to elect for the top-up tax of its constituent entities in a jurisdiction to be zero, where both the average qualifying revenue and average qualifying income fall below specified thresholds.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.