Global Minimum Tax Administration Act: Interest calculation effective date: English/Afrikaans)

The South African Revenue Service Commissioner has issued a public notice under section 187(2) of the Tax Administration Act, 2011. The notice states that interest under section 7 of the Global Minimum Tax Administration Act, 2024, read with Chapter 12 of the Tax Administration Act, must be calculated on the daily balance owing and compounded monthly, with effect from 30 June 2026.

This appears to concern the calculation of interest for the Global Minimum Tax Administration Act from 30 June 2026.