Taxation: Are we ready for global minimum tax?

May 31, 02:05 AM

In August 2022, Malaysia expressed its agreement in principle to adopt the global minimum tax (GMT) framework, which entails imposing a minimum tax rate of 15% on selected multinational corporations (MNCs). Now, Malaysia is deliberating the possibility of introducing it as early as next year. In light of this, taxpayers are advised to proactively prepare for potential changes that may arise as a result of the GMT's implementation.