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Denmark Consults on Legislation for Implementation of BEPS MLI

The Danish Ministry of Taxation has launched a public consultation on a draft legislative proposal for the implementation of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), which Denmark signed on 7 June 2017. The draft law includes the provisions for the ratification of the MLI, as well as the final list of covered agreements (tax treaties) and the options and reservation selected by Denmark.

After the domestic ratification procedure is complete, Denmark must deposit its ratification instrument to bring the MLI into force for its covered agreements, with the MLI entering into force for a particular covered agreement on the first day of the month following a three-month period after both parties to the covered agreement have deposited their ratification instrument. Once in force, the provisions of the MLI will generally apply for a covered agreement from 1 January of the year following its entry into force in respect of withholding taxes, and for all other taxes with respect to taxable periods beginning on or after the expiration of a 6-month period following the date of entry into force.

As provided in the draft, the legislation is to enter into force on 1 July 2019, meaning that the MLI would generally apply from 1 January 2020, at the earliest. The draft also notes that legislation does not apply in respect of the Faroe Islands or Greenland.

Click the following link for the consultation page (Danish language). The consultation runs through 4 January 2018.

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