UK HM Treasury has laid before the House of Commons the draft Double Taxation Relief (Base Erosion and Profit Shifting) Order 2018. After the order is approved, the UK must then deposit its ratification instrument to enter into force in the country.
Once the ratification process is complete, the MLI will generally enter into force on the first day of the month following a three month period after both parties to an agreement have deposited their ratification instrument.
Once in force, the provisions of the MLI will generally apply for a covered agreement from 1 January of the year following. The details are available in Explanatory Memorandum.
