International Tax Update– Multilateral Instrument

On 7 June at the OECD in Paris, then Minister for Finance, Michael Noonan T.D. signed the Multilateral Instrument (“MLI”) on Ireland’s behalf, along with 67 other jurisdictions. The MLI provides a mechanism for countries to transpose Base Erosion and Profit Shifting (“BEPS”) recommendations into their existing bilateral tax treaties. What follows below is a brief summary of some of the main aspects of the MLI of relevance to corporate treasurers in Ireland and in particular Irish entities involved in intergroup lending.

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