MLI Set to Enter Into Force on July 1, 2018 | KPMG | CA

MLI Set to Enter Into Force on July 1, 2018

MLI Set to Enter Into Force on July 1, 2018

The OECD's multilateral instrument (MLI) is expected to enter into force July 1, 2018.

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The OECD's multilateral instrument (MLI) is expected to enter into force July 1, 2018, now that five countries have deposited their instruments of ratification with the OECD. As a result, the MLI will be read alongside three tax treaties for the first time in 2019 (Poland-Slovenia, Austria-Slovenia and Austria-Poland), in accordance with the MLI rules. To enter into force for any treaty, the MLI first required that five signatories deposit their instruments of ratification. Slovenia became the fifth country when it deposited its ratification instrument on March 22, 2018, alongside Austria, Isle of Man, Jersey and Poland. Many more signatories, including Canada, are expected to deposit their instruments of ratification soon.

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