Extension of the ‘significant global entity’ definition to go beyond groups headed by listed companies – revised exposure draft legislation after ’round 1′ consultation

On 13 Nov 2019, Treasury released an ‘exposure draft’ of legislation the extend the definition of ‘Significant Global Entity’ (calling for comments by 11 December 2019). The SGE definition not only sucks big companies, into its onerous vortex, but every member of its Group, some of which can be small, and unaware of these extended obligations.

See below for a summary of this change.

FJM 17.11.19

[Tax Month – November 2019]