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BEPS multilateral instrument to commence 1 July

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The ‘Multilateral convention to implement tax treaty related measures to prevent BEPS’ will enter into force on 1 July 2018, following its ratification by a fifth country.

The ‘Multilateral convention to implement tax treaty related measures to prevent BEPS’ will enter into force on 1 July 2018, following its ratification by a fifth country.

The ‘multilateral instrument’ (MLI), developed under action 15 of the BEPS project, allows jurisdictions to modify their existing bilateral tax treaties and contains arbitration provisions to help resolve treaty disputes. The UK signed the MLI in June 2017 and introduced legislation in Finance Act 2018 to implement it fully in UK law.

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