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08 August 2018

UAE signs BEPS Multilateral Instrument

The United Arab Emirates (UAE) signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Instrument or MLI) on June 27. Once ratified, the MLI will modify the effect of many UAE tax treaties. Businesses operating in the UAE should review their holding, financing, intellectual property (IP) and supply chain structures to ensure that: (i) the structures remain relevant in light of current and potential Base Erosion and Profit Shifting (BEPS) developments; and (ii) the MLI will not limit access to benefits under UAE tax treaties.

A Global Tax Alert, attached below, provides additional details.

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Document ID: 2018-1597

 

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