The Inland Revenue Authority of Singapore has announced that amendments made to Singapore’s bilateral tax treaties with the Netherlands and Georgia took effect today.
Singapore, Netherlands, and Georgia ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), causing the amendments made by the MLI to enter into effect for those tax treaties today.
The MLI is a multilateral tax treaty created in 2015 that is designed to allow countries to swiftly amend their tax treaties to implement the tax treaty related OECD/G20 base erosion and profit shifting (BEPS) outcomes.
These BEPS outcomes aim to improve countries’ ability to fight tax avoidance by multinationals and better resolve cross border tax disputes.
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