Thursday, 25 January 2018

Panama, Malaysia and 4 others sign MLI taking total tally of signatories to 78

Six more countries (Barbados, Côte d’Ivoire, Jamaica, Malaysia, Panama and Tunisia) sign the BEPS Multilateral Convention, bringing the total number of signatories to 78; Further, four more jurisdictions (Algeria, Kazakhstan, Oman and Swaziland) express their intent to sign the Convention while a number of other jurisdictions are actively working towards signature by June 2018; OECD press release further updates that “ four jurisdictions – Austria, the Isle of Man, Jersey and Poland – have ratified the Convention, which will enter into force three months after a fifth jurisdiction deposits its instrument of ratification.”; Elated with this development,  OECD Secretary-General Angel Gurría remarks that “Today’s signing of the multilateral convention is another major step towards updating the international tax rules through the swift implementation of the BEPS package” 

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