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Cabinet approves signing of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting by India

News and Press Release - Dated:- 17-5-2017 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shiftin .....

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re is little or no economic activity, resulting in little or no overall corporate tax being paid. The Final BEPS Project identified 15 actions to address BEPS in a comprehensive manner. Implementation of the Final BEPS Package requires changes to mor .....

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) to implement BEPS measures. For this purpose, formation of an Ad-hoc Group for the development of such multilateral instrument was endorsed by the G20 Finance Ministers and Central Bank Governors in February 2015. Background: India was part of the .....

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the Convention and the accompanying Explanatory Statement was adopted by the Ad hoc Group on 24 November 2016. The Convention implements two minimum standards relating to prevention of treaty abuse and dispute resolution through Mutual Agreement Proc .....

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ir application in order to implement the BEPS measures. The Convention ensures consistency and certainty in the implementation of the BEPS Project in a multilateral context. The Convention also provides flexibility to exclude a specific tax treaty an .....

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s the first step in the process of expressing consent to be bound by the Convention, which will become binding only upon ratification. A list of Covered Tax Agreements as well as a list of reservations and options chosen by a country are required to .....

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