On March 22, 2018 Slovenia deposited its instrument of ratification. Earlier the Republic of Austria, the Isle of Man, Jersey and Poland already deposited their instruments of ratification. Therefore Slovenia is the fifth jurisdiction to deposit its instrument of ratification. Based on Article 34 of the MLI, the MLI will therefore enter into force on July 1, 2018.
The Convention is the first multilateral treaty allowing jurisdictions to transpose results from the OECD/G20 BEPS Project into their existing bilateral tax treaties, transforming the way tax treaties are modified. The Convention has been designed to strengthen existing tax treaties concluded among its parties without the need for burdensome and time-consuming bilateral renegotiations.
· Text of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
Click here to be forwarded to the list of signatories to the MLI (status as of March 22, 2018) as available on the website of the OECD.
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