The MLI's Impact On Alternative Investment Funds

On June 7 2017, more than 70 governments participated in the signing ceremony of the OECD's Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Andrew Quinn, David Burke, Peter Stapleton and William Fogarty of Maples and Calder discuss how the convention will affect alternative investment funds.

The MLI was an initiative of the OECD and is the first international legal agreement of its kind that has the effect of amending a series of bilateral treaties between countries.

The effect of the MLI is that countries including Ireland will transpose certain provisions relating to the OECD's base erosion and profit shifting (BEPS) project into their existing networks of bilateral tax treaties without the requirement to renegotiate each treaty individually. This is a hugely significant development in the approach to international tax. More than 100 countries participated in drafting and negotiating the