The Chief Minister of Jersey, Senator Ian Gorst, signed the Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (MLI) on June 8, 2017 at the OECD Headquarters in Paris.
The Multilateral Instrument (MLI) will modify existing bilateral tax agreements to make them BEPS-compliant, allowing Jersey to strengthen its tax treaty network in an efficient and comprehensive manner, without the need for costly and time-consuming bilateral negotiations. The MLI was developed through negotiations involving more than 100 countries and jurisdictions, under a mandate delivered by G20 Finance Ministers and Central Bank Governors at their February 2015 meeting.
Jersey became a BEPS Associate and Member of the BEPS Inclusive Framework at its inaugural meeting on 16 June 2016. Jersey is fully supportive of the BEPS project and is active in implementing the actions making up the project. As a BEPS Associate, Jersey is able to contribute to the overall development of the project through policy dialogue and exchange of information – participating on an equal footing with OECD, G20 and many other countries and jurisdictions.
