Malaysia Signed BEPS Multilateral Convention
On 24 January, Malaysia has joined the 78 Countries in the network of bilateral tax treaties and reduce opportunities for tax avoidance by multinational enterprise.
The Multilateral Convention is to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”). It offers concrete solutions for governments to close the gaps in existing international tax rules by transposing results from the OECD/G20 BEPS Project into bilateral tax treaties worldwide.
As stated in the Malay mail online 25 January, it quotes that Datuk Wira Othman Aziz, the Deputy Finance Minister, that Malaysia was committed to meet the international agreed tax standard via the automatic exchange of information (AEOI).