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Tax Alert: Multilateral Instrument ratified

Tax Alert: Multilateral Instrument ratified

The MLI is designed to implement tax treaty related measures to prevent Base Erosion and Profit Shifting(BEPS).The purpose of this alert is to provide an update on the position of Mauritius with respect to the MLI.

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Overview of the MLI

The MLI is an agreement negotiated under Action 15 of the OECD/G20 BEPS Projectwhich allows the amendment of Double Taxation Avoidance Agreements (DTAAs) without the necessity to conduct additional negotiations between two countries.

The measures under the MLI include, inter-alia, anti-treaty abuse rules such as the Principal Purpose Test (PPT) and limitation of benefit clause, alongside a new preamble reinforcing anti-treaty abuse rules, permanent establishment rules, arbitration rules, modernization of Mutual Agreement Procedures and transfer pricing articles in tax treaties.

© 2019 KPMG Advisory Services Limited, a Kenyan Limited Liability Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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