SIGNING CEREMONY FOR THE BEPS MULTILATERAN CONVENTION

At the OECD Headquarters in Paris, Italian Minister of Economy and Finance Pier Carlo Padoan, signed the “Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting-MLI”. The MLI transposes results from the OECD/G20 BEPS Project into bilateral tax treaties and allows Governments to strengthen their tax treaty network in an efficient and comprehensive manner without the need for costly and time consuming bilateral negotiations. The MLI also allows governments to improve dispute resolution procedures, including the optional introduction of an arbitration procedure (opted in by Italy), to enhance tax certainty for tax payers. The MLI was developed through a negotiation involving more than 100 Countries and Jurisdictions and additional jurisdictions, others than the 68 covered today, are already preparing for signature of the MLI.

• http://newsletter.oecd.org/q/1m6dAAdlqWd9NnxH0bmb/wv