Portugal has deposited its instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) with the OECD’s Secretary-General, the OECD has reported.
The BEPS multilateral instrument will enter into force for Portugal on June 1, the OECD said.
The BEPS multilateral instrument was developed by OECD and G20 in 2015 as a vehicle for countries to swiftly add provisions to their existing tax treaties to prevent tax avoidance by multinational groups and to speed cross-border tax dispute resolution.
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