The Minister of State for Foreign Affairs, on 7 June 2017 in Paris on behalf of Japan, signed the Multilateral Agreement on the Implementation of Taxation Related Measures to Avoid Basic Erosion and Profit Shift.
The Ministry of Foreign Affairs of Japan said in a press release that the Convention intends to introduce the tax measures which form part of the measures developed under the BEPS project to prevent the basic erosion and the transfer of profits (BEPS) in the existing tax treaties between the Contracting Parties to the Convention. The agreement also enables the parties to the contract to implement the tax measures in order to simultaneously and efficiently prevent BEPS in respect of a large number of their existing tax treaties.
About 70 countries at all levels of development have signed this Multilateral Instrument (MLI) at the OECD Centre in the presence of Secretary-General OECD at the same time. 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.
