Symposium: the global minimum tax – introduction.

The ETR is therefore HT <math display="block" altimg="urn:x-wiley:01435671:media:fisc12321:fisc12321-math-0001" xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>E</mi><mi>T</mi><mi>R</mi><mo linebreak="badbreak">=</mo><mfrac><mrow><mi>A</mi><mi>d</mi><mi>j</mi><mi>u</mi><mi>s</mi><mi>t</mi><mi>e</mi><mi>d</mi><mspace width="0.16em" /><mi>c</mi><mi>o</mi><mi>v</mi><mi>e</mi><mi>r</mi><mi>e</mi><mi>d</mi><mspace width="0.16em" /><mi>t</mi><mi>a</mi><mi>x</mi><mi>e</mi><mi>s</mi></mrow><mrow><mi>A</mi><mi>d</mi><mi>j</mi><mi>u</mi><mi>s</mi><mi>t</mi><mi>e</mi><mi>d</mi><mspace width="0.16em" /><mi>G</mi><mi>l</mi><mi>o</mi><mi>B</mi><mi>E</mi><mspace width="0.16em" /><mi>i</mi><mi>n</mi><mi>c</mi><mi>o</mi><mi>m</mi><mi>e</mi></mrow></mfrac><mo>.</mo></mrow><annotation encoding="WINDOWS-1252">$$\begin{equation*}ETR = \frac{{Adjusted\,covered\,taxes}}{{Adjusted\,GloBE\,income}}.\end{equation*}$$</annotation></semantics></math> ht If the ETR is less than 15 per cent, then an additional top-up tax can be levied. If the source country does levy such a tax, then no other country levies any further top-up tax. [Extracted from the article]