Is a global corporate minimum tax the death knell for offshore structuring?
22 April 2024, André van Niekerk, Francois Fouché
Despite uncertainties surrounding global tax reforms, no additional restrictions on exchange control have been proposed in South Africa during the... 2024 National Budget speech. However, amidst this positive news, concerns linger among taxpayers regarding the introduction of a new effective minimum tax rate of 15% on multinational corporations, sparking questions about its impact on offshore structuring and international estate planning structures, as well as the continuing effectiveness of low tax jurisdictions also known as financial centres. This article delves into the implications of these developments specifically offshore structuring and estate planning strategies.