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GLOBAL MINIMUM TAX ADMINISTRATION ACT GAZETTED
- 09 January 2025
- New Legislation
- SA Legal Academy
The Global Minimum Tax Administration Act has been gazetted and came into force on 1 January 2025, when the Global Minimum Tax Act was operationalised. Both new pieces of legislation apply to fiscal years beginning on or after that date.
This is noting that the Global Minimum Tax Act provides for the introduction of global anti-base erosion rules and the imposition of top-up tax, while the Global Minimum Tax Administration Act provides for the administration of these measures.
As SA Legal Academy reported at the time, the Bill concerned left Parliament on 4 December 2024 with six other tax and revenue Bills. However, it was the only one not signed into law and gazetted as an Act on 24 December 2024. This oversight has now been corrected.
Published by SA Legal Academy Policy Watch
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