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2 June 2015

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OECD Announces that Work on the BEPS Multilateral Instrument is Underway

The OECD recently issued a release announcing that work on the Multilateral‎ Instrument to implement the tax treaty-related measures developed as part of the Base Erosion and Profit Shifting (BEPS) Project began on 27 May 2015 in Paris. The development of a Multilateral Instrument follows the report produced as part of Action 15 of the BEPS Project, which looked at the feasibility of developing and employing such an instrument to implement the tax treaty-related measures.

During the 27 May meeting of the ad hoc group formed to develop the instrument, the Chair and Vice-Chairs were appointed and agreement was reached on a number of procedural issues so that the substantive work can begin at an Inaugural Meeting which will take place on 5-6 November 2015.

Members of the ad hoc Group are (as of 28 May 2015): Andorra, Argentina, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Bhutan, Brazil, Bulgaria, Burkina Faso, Canada, China (People’s Republic of), Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Fiji, Finland, France, Georgia, Germany, Greece, Guatemala, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Kazakhstan, Korea, Latvia, Lebanon, Liberia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Marshall Islands, Mauritius, Mexico, Moldova, Morocco, Netherlands, New Zealand, Nigeria, Norway, Philippines, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Senegal, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Swaziland, Sweden, Switzerland, Tanzania, Thailand, Tunisia, Turkey, United Kingdom, Uruguay, Vietnam and Zambia.

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