Countries adopt multilateral convention to close tax treaty loopholes and improve functioning of international tax system
25 November 2016
More than 100 jurisdictions have concluded negotiations on a multilateral instrument that will swiftly implement a series of tax treaty measures to update international tax rules and lessen the opportunity for tax avoidance by multinational enterprises. The new instrument will transpose results from the OECD/G20 Base Erosion and Profit Shifting Project (BEPS) into more than 2000 tax treaties worldwide. A signing ceremony will be held in June 2017 in Paris.