Multilateral BEPS Convention will enter into force at 1 July 2018

OECD recently reported that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS will enter into force on 1 July 2018.

The entry into force of the Convention, underlines the strong political commitment of signatories to fighting base erosion and profit shifting (BEPS) by multinational enterprises.

Among the signatories, there are most European countries, including Lithuania and Latvia, Hong Kong, Singapore, Russia, Guernsey, Korea, Panama and others. Estonia is still not on the list but the country expressed its intent to sign the Convention.