The AIDC, in partnership with the Institute for Economic Justice, supported by the #StopTheBleeding campaign and the Tax Justice Network Africa (TJNA), submitted comments on South Africa’s Draft Global Minimum Tax Bill to the Finance Standing Committee. This follows our initial submission made to the National Treasury on 31 March 2024 and subsequent engagement in the 7 June workshop with the National Treasury and the South African Revenue Service.
This submission is in two parts:
Specific comments and proposals on the Draft Global Minimum Tax Bill (‘the Bill’), as it relates to the implementation of the Organisation for Economic Cooperation and Development (OECD)’s Global Anti-Base Erosion Model Rules (‘GloBE rules’ or ‘Pillar Two’), and read with reference to the OECD’s March 2022 Commentary and 2023 Administrative Guidance.
General comments and criticism on the provisions of the GloBE rules themselves, and proposals for alternatives.
In summary, this submission ultimately opposes the implementation of the OECD’s GloBE rules for reasons outlined in Part II. However, should the Bill proceed, we hope that our proposals in Part I help to inform the implementation of Pillar Two in a manner that mobilises the maximum amount of public resources possible within these confines.
Read more on the document below.
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