Croatia and Malaysia have deposited their instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), the OECD announced yesterday.
The MLI will enter into force for those countries on June 1.
The ratifications now bring to 63 the number of jurisdictions that have ratified, accepted, or approved it.
As of January 1, the MLI had brought about the amendment of 650 treaties between the 63 jurisdictions, the OECD said.
These provisions were agreed to by nations following the 2015 OECD/G20 base erosion profit shifting (BEPS) project.
The document will change Croatia’s and Malaysia’s current in-force tax treaties with other nations by adding provisions to curb tax avoidance by multinational groups.
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