More than 100 jurisdictions have concluded negotiations on a multilateral instrument to implement a series of tax treaty measures arising from the BEPS initiative. This will impact more than 2,000 tax treaties worldwide according to the OECD.

The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS will implement minimum standards aimed at deterring treaty abuse and improving dispute resolution mechanisms.

The multilateral convention was developed over the past year, via negotiations involving more than 100 jurisdictions including OECD member countries, G20 countries and other developed and developing countries, under a mandate delivered by G20 Finance Ministers and Central Bank Governors at their February 2015 meeting.