On December 20, 2017 the Swiss Federal Council initiated a consultation on the implementation of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The consultation will run until April 9, 2018.
In October 2015, the OECD adopted the final outcomes of the base erosion and profit shifting (BEPS) project. Some BEPS project actions require the adjustment of DTAs, which may be adapted either bilaterally or through the BEPS convention to the agreement-related results of the BEPS project. The BEPS minimum standards can also be agreed through bilateral amendments to DTAs. Switzerland and the United Kingdom, for example, are adapting the existing DTA to the BEPS minimum standards by means of a bilateral protocol of amendment that they signed on November 30, 2017. The protocol of amendment still has to be approved by parliament in both countries.
More information on the consultation and the documents released in that respect can be found here.
Copyright – internationaltaxplaza.info