Companies are advised to check for relevant changes to their respective domestic laws following the signing of the OECD’s multilateral instrument (MLI) by 76 countries with much fanfare on Wednesday. The rewriting of bilateral taxation treaties on such a large scale is expected to improve arbitration in tax dispute resolution and curb double taxation, but is likely to be implemented to varying degrees across jurisdictions.
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While some believe it could have a positive effect on the wider advisory landscape, others argue that HMRC’s ‘red tape’ exercise won’t deter bad actors
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