As confirmed by its list of notifications, the OECD was formally notified on 6 March 2023 that internal procedures for entry into effect of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS MLI) in Romania have been completed with respect to 55 of its treaty partners. This includes the United Kingdom.
The 1975 UK-Romania Double Taxation Convention is a covered tax agreement under the BEPS MLI. Modifications to that treaty’s operation take effect in accordance with the commencement provisions.
HMRC should update the relevant page on GOV.UK with a “synthesised text”. This will show the effects of the MLI’s modifications.
Related content from Claritax Books
Advising British Expats is a detailed guide to the tax issues arising for individuals who leave the UK to live and work abroad. Written for accountants and other professional tax advisers, the book also includes commentary on individuals coming to work in the UK.
