Today, Ireland deposited its instrument of ratification for the multilateral instrument (MLI) to implement the tax treaty measures in the OECD/G20 base erosion profit shifting (BEPS) action plan.
The MLI allows countries to swiftly amend their bilateral tax treaties to add provisions developed in the BEPS action plan which are designed to limit aggressive tax planning strategies used by MNEs.
This brings the total number of deposited instruments to 19. The MLI will enter into force for Ireland on May 1.
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