BEPS Multilateral Convention extends to 78 members

Feb 05, 2018

Officials from Barbados, Côte d’Ivoire, Jamaica, Malaysia, Panama and Tunisia recently signed the BEPS Multilateral Convention bringing the total number of signatories to 78.

The Convention updates the existing network of bilateral tax treaties and aims to reduce opportunities for tax avoidance by multinational enterprises according to the OECD.  Algeria, Kazakhstan, Oman and Swaziland have expressed their intent to sign the Convention, and a number of other jurisdictions are actively working towards signature by June 2018.

The Convention allows jurisdictions to integrate results from the OECD/G20 BEPS Project into their existing networks of bilateral tax treaties.  Ireland and the UK signed the Convention in June 2017 at the OECD meeting in Paris.