Significant Tax-Treaty Changes on the Horizon
On November 24, 2016, the Multilateral Convention to Implement Tax-Treaty Related Measures to Prevent Base Erosion and Profit Sharing was released by the OECD. The multilateral instrument is aimed at implementing standards to counter perceived treaty abuse and to improve dispute resolution. More than 100 jurisdictions, including Canada, were involved in the negotiation process. The formal signing of the multilateral convention is expected to take place in June 2017.