Section 229B | Untaxed amounts ^F1

(1)A member of a multinational group has an untaxed amount if conditions A and B are met.

(2)Condition A is that the top-up amount and additional top-up amounts of the member are potentially undertaxed.

(3)Condition B is that the sum of amounts attributed under Chapter 7 to responsible members in respect of the member’s top-up amount and additional top-up amounts is less than the sum of the member’s top-up amount and additional top-up amounts.

(4)The untaxed amount is the amount given by subtracting—

(a)the sum of amounts attributed under Chapter 7 to responsible members in respect of the member’s top-up amount and additional top-up amounts, from

(b)the sum of the member’s top-up amount and additional top-up amounts.