BEPS MLI Submitted To Parliament For Ratification

On 23 March 2022, the Cabinet of South Africa approved the submission of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS to the Parliament for ratification.

Cabinet, following its meeting on Thursday, said South Africa, as one of the 95 countries participating in the convention initiated by the Organisation for Economic Cooperation and Development (OECD) to reduce opportunities for tax avoidance and base erosion by multinational companies, signed the tax treaty in June 2017.

South Africa submitted its provisional MLI position at the time of signature, listing its reservations and notifications and including 76 tax treaties that it wishes to be covered by the MLI. Once the tax treaty is ratified, South Africa will apply it alongside other tax treaties it has signed with other countries.