Greece and Hungary join BEPS MLI to fight multinational group tax avoidance

Greece and Hungary have deposited their ratification instruments for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS MLI), the OECD announced March 30. Altogether, 65 countries have ratified, accepted, or approved the BEPS MLI, the OECD said.

The BEPS MLI is a multilateral tax treaty that is designed to allow countries to swiftly add new provisions to their existing tax treaties to align those treaties with minimum standards developed in 2015 as a result of the OECD/G20 base erosion profit shifting plan.

These minimum standards aim to prevent tax avoidance by multinational groups and speed cross-border tax dispute resolution.

The BEPS MLI will enter into force for Greece and Hungary on July 1.