28/02/2022 – Bahrain and Romania have deposited their instrument of approval or ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI), which now covers over 1800 bilateral tax treaties, thus underlining their strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises. For Bahrain and Romania, the Convention will enter into force on 1 June 2022.
On 1 February 2022, over 880 treaties concluded among the 70 jurisdictions which have ratified, accepted or approved the Convention had already been modified by the Convention. An additional 940 treaties will be modified once the Convention will have been ratified by all Signatories.
The text of the Multilateral Convention, the explanatory statement, background information, database, and positions of each signatory and parties are available at https://oe.cd/mli.