BEPS Convention entered into force on 1 December 2019
Peter von Burg
The Multilateral Agreement on the Implementation of Agreement-Based Measures to Prevent the Reduction and Transfer of Profits ("BEPS Agreement") has been in force since 1 December 2019. With the help of the Convention, existing double taxation agreements can be adapted to the recommendations from the BEPS project.
Switzerland signed the BEPS Agreement on 7 June 2017 (see taxlawblog contribution of 7 June 2017) and the majority of the consultation (see taxlawblog contribution of 6 January 2018) was positive, whereupon the Federal Council adopted the corresponding dispatch (see taxlawblog contribution of 25 August 2018).
For the time being, the BEPS Convention is intended to adapt the double taxation agreements with Argentina, Chile, Iceland, Italy, Lithuania, Luxembourg, Mexico, Austria, Portugal, South Africa, the Czech Republic and Turkey by means of Memoranda of Understanding. Other DTA revisions have already been completed or are in progress.
The technical information and further documents are available here.
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