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Speed dating in the new tax era: the BEPS Convention kicks off

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Published on 01 Aug 17 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Australia, along with 68 other countries or territories, recently signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the BEPS Convention). The BEPS Convention implements action 15 of the BEPS project which proposed a multilateral instrument that would operate automatically to amend and update the bilateral tax treaty network currently in existence to bring certain key provisions of treaties into line with the BEPS agenda. The BEPS Convention may potentially apply to more than 2,000 bilateral tax treaties between countries worldwide. This article introduces the key elements of the BEPS Convention and Australia’s position in signing it. The article sets out the history and context of the BEPS project, outlines the goals, framework and complicated implementation process of the BEPS Convention, and discusses each key element of the BEPS Convention and the Australian Treasury position in respect to it.

Author profiles

Peter Godber CTA-Life
Peter Godber, CTA (life) has over 35 years experience in giving professional taxation advice and dealing with change to Australian tax laws. Peter provides advice in many areas of taxation, including business taxation, business and investment structuring, international tax planning, prudential tax audits and tax risk management. - Current at 21 July 2023
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Prof Miranda Stewart CTA
Prof. Miranda Stewart, CTA, is a Professor at Melbourne Law School, The University of Melbourne and is an honorary Professor at the Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University. Recent books include Tax and Government in the 21st Century (Cambridge University Press, 2022), Death and Taxes (Thomson Reuters, 2022) with Michael Flynn KC and Income Taxation: Commentary and Materials (Thomson Reuters, 2023) with Graeme Cooper, Michael Dirkis and Richard Vann. - Current at 27 May 2024
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