Ground-breaking Multilateral BEPS Convention Signed at OECD will Close Loopholes in Thousands of Tax Treaties Worldwide

June 2017

Taken from the Organisation for Economic Co-operation and Development (OECS) press statement published on 7 June 2017. 

Ministers and high-level officials from 76 countries and jurisdictions have signed today 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.

For further information, please contact us at tax.desk@bakertillyinternational or read the Organisation for Economic Co-operation and Development’s full press statement.