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The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (referred to as the Multilateral Instrument, or MLI) was signed by the Minister of Revenue Judith Collins in Paris today. This OECD measure targets base erosion and profit shifting (BEPS). It will enable signatory countries, including New Zealand, to quickly update existing double tax treaties to include articles on permanent establishment avoidance, treaty abuse, dispute resolution and hybrid mismatches.
New Zealand’s position on which of its tax treaties should be covered and which provisions it will adopt was contained in the officials’ issues paper New Zealand’s implementation of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS, and this final position remains virtually unchanged. The OECD has published the full MLI positions of all signatories (including New Zealand) on its website. A report providing full details of the process for implementation and the effect of the MLI on New Zealand’s treaty network will be published on this website soon.
For more information see the Minister's media statement and OECD's information about the MLI.
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