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OECD news: 4 September 2019

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  • The OECD has released reports on the second round of country-by-country reporting peer reviews, covering implementation of the minimum standard by 116 jurisdictions as at April 2019. Where legislation is in place, the reviews found implementation to be ‘largely consistent’ with the BEPS action 13 minimum standard. Over 80 jurisdictions have now introduced legislation to impose a filing obligation on multinational groups, covering almost all such groups with consolidated group revenue at or above the threshold of €750m.
  • Canada and Switzerland have deposited with the OECD their instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to prevent BEPS (MLI). The convention will enter into force for both countries on 1 December 2019. The MLI allows jurisdictions to transpose results from the BEPS project into their existing bilateral tax treaties.
  • Ecuador and Serbia have ratified the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which will enter into force for both countries on 1 December 2019. The convention provides for all forms of exchange of information and serves as the main instrument for implementing the common reporting standard.
Issue: 1455
Categories: News