On June 7, 2017, Canada along with numerous other jurisdictions signed the
Organisation for Economic Co-operation and Development’s
(“OECD”) Multilateral Convention
to Implement Tax Treaty Related Measures to Prevent Base Erosion
and Profit Shifting (the “MLI” or
“multilateral instrument”). The
multilateral instrument is the culmination of work undertaken as
part of the OECD/G20 BEPS
Project to equip governments with domestic and international
instruments to address tax avoidance.
On June 21, 2019, Canada took an important step forward in the
domestic ratification process required to bring the MLI into effect
in Canada when Bill C-82, An Act to implement a multilateral
convention to implement tax treaty related measures to prevent base
erosion and profit shifting, received Royal Assent enacting
the MLI into law in Canada.
