TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

First five jurisdictions to implement Multilateral BEPS Convention

The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the “Convention”) will enter into force in five European jurisdictions beginning on 1 July 2018.

The Convention allows jurisdictions to transpose results from the OECD/G20 BEPS project into existing bilateral tax treaties which transforms the way tax treaties are modified according to the OECD. The five countries signed up to the Convention so far are:

  • Slovenia from 22 March 2018,
  • Austria from 22 September 2017,
  • The Isle of Man from 19 October 2017,
  • Jersey from 15 December 2017,
  • Poland from 23 January 2018

Ireland signed the multilateral convention to Implement Tax Treaty Related Measures to Prevent BEPS last June 2017 and set out a provisional approach to the options provided for in the multilateral convention. This approach will become binding on Ireland on foot of the ratification of the multilateral convention in Irish law.