ATAF to Host briefing for journalists on new minimum tax rules
The 'Qualified Minimum Domestic Top-up Tax (QMDTT)' webinar will discuss the key features of the GloBE rules and the QMDTT, and how they will impact African countries’ tax administrations and domestic resource mobilisation.
FILE PICTURE: A press conference during ATAF's 7th General Assembly in Lagos, Nigeria.
PRETORIA - The African Tax Administration Forum (ATAF) is hosting a high-level panel discussion on the Qualified Minimum Domestic Top-up Tax (QMDTT) ahead of global changes to tax regimes. These changes will affect African countries' impact on investment and tax incentive policies and the purpose of the briefing is to un-pack how this QMDTT could mitigate this. A panel of experts will present the impact of the QMDTT on African revenue collection and tax implications on Monday, 22 May 2023, from 10h00 – 12h00 (CAT).
The Global Anti-Base Erosion (GloBE) Model Rules, published by the Inclusive Framework in December 2021, are essential in understanding how multinational companies will be taxed in the future. The GloBE are being implemented by countries around the world and will come into force in January 2024.
“ATAF is aiming to assist member countries so as to not be caught off-guard by the new incoming rules,” explained ATAF’s Deputy Executive Secretary, Ms Mary Baine.
Considering the potential implications on policy
These rules will have a significant impact on African countries and their tax incentive regimes. In particular, the QMDTT will require African countries to impose a top-up tax on the low taxed income of their constituent entities.
"We want journalists and analysts to understand how the implementation of these rules will affect African countries and their tax systems," said Baine. "It is important that African countries understand the implications of these rules and how to implement and administer their tax systems accordingly."
The webinar will discuss the key features of the GloBE rules and the QMDTT, and how they will impact African countries’ tax administrations and domestic resource mobilisation.
The event is open to journalists reporting on tax and finance issues in Africa and other interested parties. Portuguese and French translations will be available.
"We look forward to having journalists and other attendees participate in this important discussion," Baine added.
To join, interested parties can register here:
https://bit.ly/3H1KCP1
