South African Revenue Service (SARS) Issues Guidance on Global Minimum Tax Filing and Payment Procedures via eFiling

SARS issued guidance on Global Minimum Tax filings through eFiling, covering GMT01, GMT02, deadlines, supporting documents, and payments. The first Global Information Return is due within 18 months after the first reportable fiscal year, while later filings are due within 15 months. Taxpayers must activate the GMT tax type before filing. Payments are made through “Pay Now” using Credit Push and cannot be reversed once confirmed.

The guidance covers the Global Minimum Tax return, known as GMT01; the GMT02 declaration form; and related tax calculations for the relevant fiscal year. It also explains the role of the Global Information Return under the OECD/G20 Pillar Two framework, which is used to report tax calculations, support top-up tax liability, or demonstrate that no liability arises.

According to SARS, the first Global Information Return must be filed within 18 months after the end of the first reportable fiscal year. Later returns are due within 15 months after the end of each subsequent fiscal year. The 18-month deadline also applies to MNE groups that become subject to top-up tax after the 2024 fiscal year.

To access the Global Minimum Tax functions, taxpayers must activate the GMT tax type on eFiling and assign the correct user permissions. Once activated, the GMT01 return can be accessed under the Global Minimum Tax Returns section. The return must generally be filed by each constituent entity in an implementing jurisdiction, unless a qualifying return has already been filed by the Ultimate Parent Entity or a designated filing entity in a jurisdiction with a competent authority agreement.

The GMT02 Declaration Summary can only be generated after the GMT01 has been successfully processed. It serves as the final declaration confirming that the submitted information is true and correct. Any changes must be made by correcting the original GMT01 submission through a Request for Correction.

SARS also allows taxpayers to upload up to 20 supporting documents, including audited financial statements, organograms, and financial schedules. After submission, SARS issues correspondence through eFiling, including acknowledgement letters, outcome notices, and payment reference numbers.

Payments must be made through the eFiling “Pay Now” function using a Credit Push banking facility. Once a payment instruction is confirmed and submitted, it cannot be reversed. Payment confirmations and transaction status details remain available in the eFiling Payment History section.