Monica Biringer, Patrick Marley, Drew Morier, Kaitlin Gray
Dec 13, 2019
In 2019, global efforts towards international tax reform – spearheaded by the G20 and the OECD – continued to move forward. Two developments in particular are expected to have a major impact in Canada.
First, on December 1, 2019, the Multilateral Instrument (MLI) entered into force in Canada. The MLI – formally the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting – makes significant amendments to many of Canada’s bilateral tax treaties. Chief among these is the adoption of the OECD-agreed mandatory “minimum standards” on tax treaty abuse. Also significant is Canada’s choice to opt into mandatory binding arbitration for tax treaty disputes.
Read more at legalyearinreview.ca
Let us help you stay up to date. Receive updates by email.