Ireland Becomes 88th Jurisdiction to Ratify EU Tax Treaty

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Ireland has officially approved the OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS). The money laundering instrument became EU national law in July last year following, the Isle of Man, Jersey, Poland, Slovenia and Austria’s ratification. These countries bring the number to 88 jurisdictions that are signatures on the treaty.

The multilateral tax treaty lets jurisdictions keep their double tax treaty legislation up-to-date and transpose procedures as per the BEPS project guidance without needing to engage in lengthy bilateral negotiations.