Ukraine today deposited with the OECD legal documents ratifying a multilateral tax treaty called the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
The MLI is designed to modify its signatories’ existing tax treaties to add provisions that close multinational group tax loopholes and speed cross-border tax dispute resolution. The provisions were agreed to by countries in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) plan.
Ukraine’s action today will cause the MLI to enter into force for Ukraine on December 1.
Ukraine seeks to have the MLI modify its in-force bilateral tax treaties with 76 other countries.
On December 1 the MLI will enter into force for bilateral tax treaties between Ukraine and the following countries which have already deposited their instrument of ratification, approval, or acceptance with the OECD: Austria, Belgium, Finland, Georgia, India, France, Ireland, Israel, Japan, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Russia, Serbia, Singapore, Slovak Republic, Slovenia, Sweden, United Arab Emirates, and United kingdom.
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