Japan’s Ministry of Finance has announced that, as both Japan and Singapore have ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), the MLI will operate to amend an existing tax treaty between the two countries.
The MLI will apply to the Japan-Singapore tax treaty as of April 1, 2019, the Finance Ministry said.
The MLI was designed as a means to allow countries to quickly incorporate into their existing bilateral tax treaties minimum standards and recommendations agreed to by countries in 2015 as a result of the OECD/ G20 base erosion profit shifting (BEPS) plan.
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