The UK Government has published a final list of its reservations and notifications under the Multilateral Convention to implement tax treaty-related base erosion and profit shifting (BEPS) measures.
The UK signed the BEPS Convention on June 7, 2017, and deposited its instrument of ratification and final list of reservations and notifications on June 29, 2018.
The BEPS Convention will enter into force for the UK on October 1, 2018, and will begin to have effect in the UK for UK tax treaties from:
- January 1, 2019, for taxes withheld at source
- April 1, 2019, for Corporation Tax
- April 6, 2019, for Income Tax and Capital Gains Tax
The date on which individual UK tax treaties are modified by the BEPS Convention would depend on the date the UK’s treaty partners deposit their own instruments of ratification, acceptance, or approval, the Government said.