Global Minimum Tax Act, 2024 (Act No. 46 of 2024)

Part II : Application of GloBE Model Rules

2. Application of GloBE Model Rules
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For purposes of this Act, the GloBE Model Rules apply for a Fiscal Year on the basis of the—

 

(a) GLoBE Model Rules as amended and released before the start of the Fiscal Year;

 

(b)Commentary to the GloBE Model Rules released before the start of the Fiscal Year;

 

(c) Administrative Guidance to the GloBE Model Rules released before the start of the Fiscal Year: Provided that paragraph (cA) of the definition of "Administrative Guidance to the GLoBE Model Rules" will apply for fiscal years commencing on or after 1 January 2024; and

 

(d) Safe Harbours released before the start of the Fiscal Year.

 

[Section 2 substituted by section 64(1) of the Taxation Laws Amendment Act, 2026, Notice No. 7344, GG54448, dated 1 April 2026 - deemed to have come into operation on 1 January 2024 (section 64(2))]