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On December 18, 2017, the OECD released the 2017 edition of the OECD Model Tax Convention, which incorporates significant changes developed under BEPS project.
The latest edition of the OECD Model mainly reflects a consolidation of the treaty-related measures resulting from the work on the BEPS project under Action 2 (Neutralising the Effects of Hybrid Mismatch Arrangements), Action 6 (Preventing the Granting of Treaty Benefits in Inappropriate Circumstances), Action 7 (Preventing the Artificial Avoidance of Permanent Establishment Status) and Action 14 (Making Dispute Resolution More Effective).
The 2017 update includes the changes and additions made to the observations and reservations of OECD member countries and to the positions of non-OECD nations.
The contents of the 2017 update were approved by the OECD Council on November 21, 2017.