On April 1, 2021, the OECD released the latest peer review report assessing jurisdictions' efforts to prevent tax treaty shopping and other forms of treaty abuse under Action 6 of the BEPS project.
The report reveals that a large majority of members of the Inclusive Framework on BEPS are translating their commitment on treaty shopping into actions and are modifying their treaty network.
The latest report includes the aggregate results of the peer review and data on tax treaties concluded by each of the 137 jurisdictions that were members of the Inclusive Framework on June 30, 2020. The data demonstrate that the BEPS Multilateral Instrument (MLI) has been the tool used by the vast majority of jurisdictions that have begun implementing the Action 6 minimum standard, and that the MLI has started to impact tax treaties of jurisdictions that have ratified it.
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