Canada Signs Multilateral Tax Agreement

Canada and 67 other jurisdictions signed the OECD's Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (referred to as the multilateral instrument or MLI) on June 7, 2017, at a signing ceremony in Paris. An additional eight countries have formally indicated an intention to sign. As a result, the MLI signatories will include most of Canada's significant trading partners (including the United Kingdom, all members of the European Union, and China), but will not include the United States. The United States was not expected to sign given prior concerns raised by U.S. officials about the MLI. A full list of signatories is available here [PDF]. The OECD expects that there will be approximately 100 signatories by the end of this year.