On May 20, 2021, the OECD announced that the Conference of the Parties to the BEPS MLI approved an opinion that sets out a series of guiding principles for addressing questions about the interpretation and implementation of the MLI.
The principles, discussed and approved by the Conference of the Parties to the MLI, were drawn from public international law, the design of the MLI itself, and its drafting history.
The MLI so far covers 95 jurisdictions and has been ratified by 65 jurisdictions. It is the first multilateral treaty of its kind, allowing jurisdictions to swiftly transpose results from the BEPS project into their existing tax treaties. The MLI became effective on January 1, 2021, for approximately 650 treaties concluded among the 65 jurisdictions.
See Opinion of the Conference of the Parties to the BEPS MLI