A new system of taxation imposes a top-up tax on profits arising in a jurisdiction whenever the effective tax rate is less than 15%. Moneyweb Sars
African countries need to act quickly or they will lose their right to collect corporate income tax to other potentially richer countries under the new global tax rules. Several countries will start enacting the Global Anti-Base Erosion Rules in 2024 – a new system of taxation that imposes a top-up tax on profits arising in a jurisdiction whenever the effective tax rate is less than 15%.
has been trying to swing the new tax rules in favour of developing countries.
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