Interpretation

In these Regulationsconsolidated financial statements means the financial statements of an MNE Group in which the assets, liabilities, income, expenses and cash flows of the ultimate parent entity and the constituent entities are presented as those of a single economic entity; electronic means includes electrical, digital, magnetic, optical, electromagnetic, biometric or photonic means of transmission of data and other forms of related technology by means of which data is transmitted; international agreement means the MCAA CbC, any bilateral or multilateral tax convention, or any tax information exchange agreement to which Belize is a party, and that by its terms provides legal authority for the exchange of tax information between jurisdictions, including the automatic exchange of such qualifying competent authority agreement means an agreement that– (i) is between authorised representatives of those jurisdictions that are parties to an international agreement; and (ii) requires the automatic exchange of CbC reports between the party jurisdictions; reporting fiscal year means that financial year the financial and operational results of which are reflected in the CbC report defined in section 8E of the Act. Schedule 1.