South Africa: Published National Treasury Budget Review 2023 including announcement on potential digital tax

On 22 February 2023, the National Treasury published its Budget Review for 2023. The Budget Review includes a statement indicating that South Africa will propose legislative amendments to implement tax rules related to digitalisation once the Steering Group of the OECD/G20 Inclusive Framework finalises and implements the two‐pillar solution of the Framework. In particular, Pillar One aims to establish a coherent and integrated approach to the tax treatment of multinationals.