Where are we on the global minimum tax?

IN the upcoming Budget 2024 announcement on Oct 13, global minimum tax (GMT) is among the key tax proposals expected to be announced regardless of when Malaysia chooses to begin.

While certain countries such as Singapore, Hong Kong and Thailand have deferred their implementation to 2025, others such as South Korea, the United Kingdom, Japan, Australia, Canada, European Union and Switzerland have chosen to start in 2024.