New Zealand has ratified the BEPS multilateral instrument (MLI) the New Zealand government today announced.
The treaty, formally known as the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS, is designed to allow countries to easily add to their bilateral tax treaties provisions that curtail tax avoidance by multinationals and improve cross-border tax dispute resolution.
The government said that the MLI is expected to enter into force for New Zealand on October 1.
This follows the recent enactment of measures to counter BEPS – activities multinational companies take to reduce the tax they pay.
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