MLI Approval22 March, 2019
The Multilateral Convention – MLI – was approved by the Portuguese Council of Ministers on March 21st, according to item 9 of the attached communication:
9. The following international agreements and conventions were also approved:
(..) Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, adopted in Paris, on 24th of November 2016. The purpose of this Convention is to implement the recommendations adopted in 2015 under the OECD/G20 BEPS (Base Erosion and Profit Shifting) Project, to Tax Conventions concluded between two or more contracting parties, in a rapid and synchronized manner, avoiding the need for bilateral renegotiations, improving legal certainty and the functioning of the international tax system.