Malta and Singapore set to implement Multilateral BEPS Convention and the Cook Islands sign the BEPS Inclusive Framework

Jan 07, 2019

The Cook Islands is the latest jurisdiction to sign up to the Inclusive Framework on BEPS while Malta and Singapore deposited their instruments of ratification for the Multilateral BEPS Convention before Christmas.

One hundred and twenty-five countries and jurisdictions are now part of the Inclusive Framework on BEPS with the latest addition of the Cook Islands.   Meanwhile, the Multilateral Instrument (MLI) will enter into force for Malta and Singapore in April this yearThe MLI is a mechanism for governments to transpose measures from the OECD/G20 BEPS Project into bilateral tax treaties worldwide. The MLI modifies the application of thousands of bilateral tax treaties concluded to eliminate double taxation. It also implements agreed minimum standards to counter treaty abuse and to improve dispute resolution mechanisms while providing flexibility to accommodate specific tax treaty policies.