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OECD: Saudi Arabia signs BEPS multilateral convention

OECD: Saudi Arabia signs BEPS multilateral convention

The Organisation for Economic Cooperation and Development (OECD) today announced that representatives of the government of Saudi Arabia signed the base erosion and profit shifting (BEPS) multilateral convention (the multilateral instrument or MLI).


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As noted in the OECD release, Saudi Arabia becomes the 84th jurisdiction to join the MLI. 

The BEPS multilateral convention updates the existing network of bilateral tax treaties and is intended to reduce opportunities for tax avoidance by multinational enterprises. This is the first multilateral treaty of its kind, allowing jurisdictions to integrate results from the OECD / G20 BEPS project into their existing networks of bilateral tax treat

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