The final action of the BEPS Action Plan is the development of a multilateral instrument that countries can use to implement various treaty-related measures developed in the course of the work. Following are commentary and links to content relating to action 15.
2 September 2013
Even if it proves possible to develop an appropriate instrument, each country would have to go through a process of adopting it, and that …
may not be straightforward, particularly if in the country’s eyes it subjugates part of their sovereign right to tax.
The mechanism might be used to give effect to other actions, as a one-off exercise, or to provide for the need to counter other practices as they evolve.
Countries will then need to decide whether it’s something they might opt in to.
19 July 2013
This action point focuses on the need for a legal basis for jurisdictions to implement many of the other action points. If it were possible to develop an instrument …
which overrides existing treaties or alters a number of treaties at once, that would make it much easier for jurisdictions to implement necessary changes. Some helpful work has been done in this area before but there needs to be general confirmation that international law does allow it.
The action is to investigate whether it is feasible to develop an instrument of this nature and, ultimately, then to do so. There is a two-year time frame for this.