Signature of OECD Multilateral Tax Convention
Signed on 7 June on the margins Annual OECD Ministerial Conference for 2017 in Paris, a Multilateral Convention on the Implementation of Measures Related to Tax Treaties to Prevent Base Erosion and Profit Shifting. The signing ceremony was attended by Deputy Finance Minister Katerina Papanatsiou.
With the signing of the Multilateral Agreement, a single framework is established between the 76 countries and territories involved by amending all existing Double Tax Avoidance Agreements. The new convention helps reduce tax evasion of multinational companies and avoid double taxation, while at the same time leading to a more stable and orderly global tax system.
The signing of the Convention by our country confirms the government's willingness to curb tax evasion by modernizing the tax mechanism and actively participating in the international effort in this direction.