Belize and Monaco sign up to OECD tax treaty Multilateral Convention

Jan 14, 2019

Belize signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Convention), becoming the 86th jurisdiction to join the Convention, which now covers almost 1,500 bilateral tax treaties. Monaco also deposited its instrument of ratification for the Convention which is expected to enter into force on 1 May 2019. 

The Convention allows jurisdictions to integrate results from the OECD/G20 BEPS Project into their existing networks of bilateral tax treaties. The Convention is effective from 1 January 2019 for the first 47 tax treaties concluded among the 18 jurisdictions that have already deposited their acceptance or ratification instrument according to the OECD.