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  • Multilateral Instrument Act enacted

    The Treasury Laws Amendment (OECD Multilateral Instrument) Act 2018External Link received royal assent on 24 August 2018. This legislation gives the Multilateral Convention (the MLI) the force of law in Australia.

    Subject to ratification of the MLI by Australia and its bilateral tax treaty partners, the MLI will progressively modify the majority of Australia’s bilateral tax treaties to implement the tax treaty related OECD Base Erosion and Profit Shifting (BEPS) measures.

    The MLI modifications are designed to prevent the exploitation of tax treaties for tax avoidance purposes and to improve tax treaty-based dispute resolution mechanisms. We are currently developing appropriate guidance on aspects of the MLI.

    We will continue to target tax avoidance behaviours and arrangements. Taxpayers who want to clarify how their arrangements are affected by the MLI can contact us for advice.

    See also:

    Last modified: 29 Aug 2018QC 56714