Come what may, global minimum tax is imminent

GLOBAL minimum tax (GMT) and qualified domestic minimum top-up tax (QDMTT) were mentioned in the Finance Minister’s Budget 2023 speech on Oct 7. With Parliament being dissolved on Oct 10, there were no further discussions on these matters.

But it is inevitable that GMT, an international taxation agenda, will be implemented in Malaysia, otherwise the taxing right would be ceded to other countries.