OECD: 68 jurisdictions have signed MLI to implement tax treaty related BEPS measures

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On June 7, 2017, in Paris 68 nations signed a multilateral instrument to amend their existing tax treaties, adding provisions that would reduce multinational tax avoidance and reinforce tax dispute settlement procedures. The amendments implement the tax treaty related recommendations of the OECD’s final reports on base erosion and profit shifting (BEPS).

Countries at all levels of development have signed the instrument. A number of jurisdictions have also expressed their intention to sign the MLI as soon as possible and other jurisdictions are also actively working towards participation in the multilateral instrument.

In addition, the OECD published on its website the MLI signatories’ reports on the tax treaties covered by the MLI as well as their reservations, options and elections on these contracts. The instrument will result in modifications to more than 1,100 bilateral tax treaties.

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