The UK has published its final list of reservations and notifications to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
The MLI was developed by the OECD in 2015 to allow countries to swiftly modify their bilateral tax treaties to conform to standards agreed to by nations as a result of the OECD/G20 base erosion profit shifting (BEPS) plan.
As previously announced, the MLI will no longer cover the UK-Germany tax treaty. The two countries will implement the BEPS provisions through a bilateral agreement.
The UK is one of nine jurisdictions that have deposited instrument ratifying the MLI with the OECD. The other countries so ratifying are Austria, the Isle of Man, Jersey, Poland, and Slovenia, Serbia, Sweden, and New Zealand.
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