On 28 February 2020, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for Latvia on 1 February 2020.
The MLI is a multilateral tax treaty that is designed to quickly incorporate provisions stemming from the OECD/G20 base erosion profit shifting (BEPS) plan. These provisions were agreed by the OECD and G20 countries in 2015. The BEPS MLI rules affect the taxation of multinational companies and are designed to thwart tax avoidance and improve cross-border settlement of tax disputes.
