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Ireland Deposits Multilateral Instrument

28 February 2019

On 29 January 2019, Ireland deposited with the OECD its Instrument of Ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“the MLI”).

Under the OECD’s Base Erosion and Profit Shifting (“BEPS”) Project, specific recommendations were made for changes to be incorporated into Double Tax Agreements (“DTAs”). The MLI provides a mechanism for countries to transpose these BEPS recommendations into their existing DTAs without the need to bilaterally re-negotiate the DTA.

Some of the recommendations are “minimum standards” meaning that they must be adopted by countries, while others are recommended best practices that countries can choose to adopt.

The BDO Tax Team have prepared a review paper on these recommendations outlining the:

-       Timing

-       Covered tax agreements; and

-       Ireland's position on the MLI Articles.

Click here to view the full document.

For more information contact a member of the BDO Tax Team at [email protected] or call 01 470 0000.