Papua New Guinea has deposited its instruments of ratification for both the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Multilateral Instrument, or MLI) and the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The MLI will enter into force on 1 December 2023 for Papua New Guinea, and mutual assistance exchanges will come into effect on 1 January 2024.
Separately, Romania has confirmed the completion of its internal procedures for the entry into effect of the MLI, setting out the tax agreements with other jurisdictions which will be covered by the MLI. The OECD has updated its status list of MLI signatories accordingly.
Papua New Guinea has deposited its instruments of ratification for both the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Multilateral Instrument, or MLI) and the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The MLI will enter into force on 1 December 2023 for Papua New Guinea, and mutual assistance exchanges will come into effect on 1 January 2024.
Separately, Romania has confirmed the completion of its internal procedures for the entry into effect of the MLI, setting out the tax agreements with other jurisdictions which will be covered by the MLI. The OECD has updated its status list of MLI signatories accordingly.
