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25 January 2018 Barbados and Jamaica sign the BEPS Multilateral Convention Barbados and Jamaica have signed the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (the MLI), bringing the total number of signatories to 78.1 The recent signing of the MLI has been hailed as another major step towards the implementation of the BEPS package. The signing also comes one day after Barbados was removed from the European Union's list of non-cooperative jurisdictions and placed on the gray list for monitoring.2 It is expected that Barbados will continue to make the necessary changes to its international business regimes this year in order to meet its commitments to the OECD and to the European Union. 1 See EY Global Tax Alert, 68 jurisdictions sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS, dated 7 June 2017. 2 See EY Global Tax Alert, Council of the European Union publishes list of uncooperative jurisdictions for tax purposes, dated 6 December 2017. Document ID: 2018-5195 |
