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The Chilean Chamber of Deputies (lower house of the National Congress) has approved a bill to ratify the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, according to a January 9 release published on the chamber’s website.
Chile signed the MLI in Paris when it was opened for signature June 7, 2017. The MLI enables jurisdictions to swiftly implement the results of the BEPS project in more than 1,000 international tax treaties. At the time of signature, Chile submitted a list of reservations and notifications to be confirmed upon deposit of its ratification instrument and identified 34 treaties to which it intends to apply the MLI.