Moogle Inc is incorporated in the USA and has a permanent establishment in Australia. The global income of Moogle Inc is $800 million. Do Australia's new multinational anti-avoidance rules apply to Moogle Inc?
A) Yes as Moogle Inc is a multinational firm with a permanent establishment in Australia
B) Yes as Moogle Inc is a significant global entity
C) No as Moogle Inc is not regarded as a significant global entity as its global income is below $1 billion
D) No as Moogle Inc is incorporated in the USA

Question

Quizplus · Accepted Answer

Australia's multinational anti-avoidance rules apply to entities regarded as significant global entities, which are defined as having global income of $1 billion or more. Moogle Inc's global income is $800 million, which is below this threshold.

Moogle Inc Is Incorporated in the USA and Has a Permanent