Israel and Lithuania have ratified a multilateral tax treaty designed to curtail tax avoidance by multinational groups and improve cross-border tax dispute resolution, the OECD today announced.
The two countries have deposited instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, also known as the multilateral instrument or BEPS MLI.
The BEPS MLI will enter into force for both Israel and Lithuania on January 1, 2019, the OECD said.
With today’s actions, 11 nations have now ratified the BEPS MLI while 83 have signed it.
The multilateral convention was created by the OECD to swiftly implement provisions agreed to by nations in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) plan.
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