Indonesia on April 28 deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) with the OECD.
The agreement allows Indonesia to swiftly add to its existing bilateral tax treaties new provisions designed to prevent tax avoidance by multinationals and speed cross-border tax dispute resolution. Indonesia is the 45th country to ratify, accept, or approve the agreement.
The multilateral tax treaty will enter into force for Indonesia on August 1.
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