In Focus

BEPS Multilateral Convention

June 5, 2017

On 17 May 2017 the Council of Ministers announced its decision on the accession of Bulgaria to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Multilateral Convention).

This is a natural step forward: Bulgaria has joined as a member of the Inclusive Framework on the implementation of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project, along with over 100 countries and jurisdictions, as well as a member of the Ad hoc Group on development of the Multilateral Convention.

The first signing ceremony of the Multilateral Convention will be held on 7 June 2017 in Paris. It is expected that most of the over 100 countries that participated in the negotiation of the instrument will be present at the ceremony.

The Multilateral Convention will enter into force for Bulgaria following its ratification, in accordance with the provisions of the Law on International Agreements of the Republic of Bulgaria. Its entry into effect with respect to specific double tax conventions concluded by Bulgaria will be subject to further conditions.

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