Treasury received 8 submissions in relation to its December 2016 Consultation Paper on Australia’s adoption of the OECD BEPS Multilateral Instrument. The submissions, which have now been released by Treasury, were made by:

  • Australian Private Equity & Venture Capital Association Limited
  • Chartered Accountants Australia and New Zealand
  • Corporate Tax Association
  • Ernst & Young
  • Insurance Council of Australia
  • KPMG
  • Minerals Council of Australia
  • Tax Justice Network Australia.

The Multilateral Instrument (MLI), which was released by the OECD in November 2016, is a multilateral treaty that will enable jurisdictions to swiftly modify their bilateral tax treaties to implement BEPS measures. Australia signed the MLI on 7 June 2017 and the details of the main features of the MLI and Australia’s provisional adoption provisions are outlined on the Treasury website.

[Treasury website: Submissions Release; Multi-Lateral Treaty; LTN 154, 15/8/17; TT August]

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