Cyprus and Saudi Arabia deposit their instruments of ratification for the MLI

On January 23, Cyprus and Saudi Arabia deposited with the OECD documents confirming the ratification of the Convention.

On this basis, the Multilateral Convention will enter into force for these states on May 1, 2020, and the date on which the tax agreements will begin to operate will depend on the ratification of the partner country for each agreement concluded.

As a general rule, an MLI convention enters into force for a specific tax treaty on the first day of the month that follows the three-month period after both parties have submitted the instruments of ratification.

The total number of countries that have filed documents for storage today is 41. On the OECD official website, you can find a complete list of countries that have already submitted ratification documents to the Convention and the date on which the provisions of the Convention come into force for these states.

The Russian Federation ratified the Convention and filed the relevant documents with the OECD last year.

Source: https://www.oecd.org/tax/treaties/beps-mli-signatories-and-parties.pdf