The Organisation for Economic Cooperation and Development (OECD) today issued a release noting that on Wednesday, 7 June 2017, officials from more than 60 countries and jurisdictions will sign a multilateral convention to reduce the opportunity for tax avoidance by multinational enterprises.
The multilateral instrument enables all signatories to meet the treaty-related minimum standards under the BEPS project (the minimum standard for the prevention of treaty abuse under Action 6 and the minimum standard for the improvement of dispute resolution under Action 14). Given that these minimum standards can be satisfied in different ways and that there are optional provisions included in the multilateral instrument as well, the OECD has proposed that the multilateral instrument provides flexibility in various ways to accommodate the positions of various countries.
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