Cyprus and Saudi Arabia have deposited their instruments of ratification for the Multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting with the OECD. The convention will enter into force for both countries on 1 May 2020.
This brings to 41 the number of countries to ratify the convention, which allows jurisdictions to transpose results from the OECD/G20 BEPS project into their existing bilateral tax treaties.
Cyprus and Saudi Arabia have deposited their instruments of ratification for the Multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting with the OECD. The convention will enter into force for both countries on 1 May 2020.
This brings to 41 the number of countries to ratify the convention, which allows jurisdictions to transpose results from the OECD/G20 BEPS project into their existing bilateral tax treaties.
