30/03/2021 - Greece and Hungary have deposited their instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Convention or MLI), which now covers over 1700 bilateral tax treaties, thus underlining their strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises. For Greece and Hungary, the MLI will enter into force on 1 July 2021.
With 95 jurisdictions currently covered by the MLI, the ratifications by Greece and Hungary now bring to 65 the number of jurisdictions which have ratified, accepted or approved it. The Multilateral Convention became effective on 1 January 2021 for approximately 650 treaties concluded among the 65 jurisdictions, with an additional 1200 treaties to become effectively modified once the MLI will have been ratified by all Signatories.
The text of the Multilateral Convention, the explanatory statement, background information, database, and positions of each signatory are available at http://oe.cd/mli.