Countries sign multilateral tax treaty agreement to fight BEPS

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Jun 07, 2017

On June 7, 2017, the Organisation for Economic Co-operation and Development (OECD) announced that the ministers and high-level officials from 76 countries and jurisdictions have signed or formally expressed their intention to sign an innovative multilateral convention that will swiftly implement a series of tax treaty measures to update the existing network of bilateral tax treaties and reduce opportunities for tax avoidance by multinational enterprises.

The new convention will also strengthen provisions to resolve treaty disputes, including through mandatory binding arbitration, thereby reducing double taxation and increasing tax certainty.

The first modifications to bilateral tax treaties are expected to enter into effect in early 2018.

Review the press release and the convention on the OECD's website.

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