Published on 01 Aug 17
by "THE TAX SPECIALIST" JOURNAL ARTICLE
Australia, along with 68 other countries or territories, recently signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the BEPS Convention). The BEPS Convention implements action 15 of the BEPS project which proposed a multilateral instrument that would operate automatically to amend and update the bilateral tax treaty network currently in existence to bring certain key provisions of treaties into line with the BEPS agenda. The BEPS Convention may potentially apply to more than 2,000 bilateral tax treaties between countries worldwide. This article introduces the key elements of the BEPS Convention and Australia’s position in signing it. The article sets out the history and context of the BEPS project, outlines the goals, framework and complicated implementation process of the BEPS Convention, and discusses each key element of the BEPS Convention and the Australian Treasury position in respect to it.
Peter is National President of The Tax Institute. He has over 30 years experience giving professional taxation advice and dealing with change to Australian tax laws. Peter provides advice in many areas of taxation, including personal and business taxation, business and investment structuring, international tax planning, prudential tax audits and tax risk management. Peter is a past State Chair of The Tax Institute’s Queensland Division.
- Current at
09 November 2020
Miranda is a leading international expert on tax law and policy, and Director of the Tax and Transfer Policy Institute at Crawford School, Australian National University (ANU) in Canberra. Professor Stewart has more than 20 years experience working at the leading edge of policy research, design and development. She joined ANU from the University of Melbourne, where she was a Director of Tax Studies for many years. She has previously worked at New York University School of Law in the United States, in major Australian law firms advising business on tax law, and at the ATO advising on business tax law and policy, and has consulted for government on various tax and transfer policy issues.
- Current at
30 June 2015