On 26 November 2016, the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, foreshadowed the release of a discussion paper by Treasury on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Multilateral Instrument).
The Multilateral Instrument, which was released by the Organisation for Economic Cooperation and Development (OECD) on 24 November 2016, is a multilateral treaty that will enable jurisdictions to swiftly modify their bilateral tax treaties to implement measures designed to better address multinational tax avoidance. These measures were developed as part of the OECD/G20 Base Erosion and Profit Shifting (BEPS) project.
The Government invites all interested parties to make a submission on the potential impacts of Australia becoming a Party to the Multilateral Instrument.
The Multilateral Instrument and its Explanatory Statement, along with further information on the BEPS project, are available on the OECD’s website.
- Australian Private Equity & Venture Capital Association Limited - PDF 413KB
- Chartered Accountants Australia and New Zealand - PDF 356KB
- Corporate Tax Association - PDF 1MB
- Ernst & Young - PDF 54KB
- Insurance Council of Australia - PDF 106KB
- KPMG - PDF 5MB
- Minerals Council of Australia - PDF 238KB
- Tax Justice Network Australia - PDF 302KB