Multilateral Agreement to Implement Tax Treaty Related Measures to Prevent BEPS – Text Released by OECD

​On 24 November 2016, 103 jurisdictions adopted the OECD Multilateral Convention (2016) 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 into more than 2000 tax treaties worldwide.

The adopting countries comprise Andorra, Argentina, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Benin, Bhutan, Brazil, Bulgaria, Burkina Faso, Cameroon, Canada, Chile, China (People's Rep.), Colombia, Costa Rica, Ivory Coast, Croatia, Cyprus, the Czech Republic, Denmark, the Dominican Republic, Egypt, Estonia, Fiji, Finland, France, Gabon, Georgia, Germany, Greece, Guatemala, Guernsey, Haiti, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Korea (Rep.), Latvia, Lebanon, Liberia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, the Marshall Islands, Mauritania, Mauritius, Mexico, Moldova, Mongolia, Morocco, the Netherlands, New Zealand, Nigeria, Norway, Pakistan, the Philippines, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Senegal, Serbia, Singapore, the Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Swaziland, Sweden, Switzerland, Tanzania, Thailand, Tunisia, Turkey, Ukraine, the United Kingdom, the United States, Uruguay, Vietnam, Zambia and Zimbabwe. An official signing ceremony will be held in June 2017.

For more information, please refer to the official OECD release available at:

http://www.oecd.org/tax/countries-adopt-multilateral-convention-to-close-tax-treaty-loopholes-and-improve-functioning-of-international-tax-system.htm