Global Tax Redo Leaves Africa Still Vulnerable to Revenue Loss

African nations face a continued risk of losing revenue to developed countries that apply the global minimum tax despite redesigned rules that feature a carve-out for US multinational companies, a group of the continent’s countries argued.

Members of the African Tax Administration Forum “have the same imperative to act in response to the opportunity presented by the global minimum tax,” the group wrote in a technical assessment of the so-called “side-by-side” system.

“The risk is still the same, that without action tax that belongs to ATAF member countries will be collected by another country: either through IIR or by a ...