YEREVAN. – The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting was signed Wednesday in Paris.

The document was signed by the finance ministers and the officials that are endowed with the respective authorization, from 68 countries. 

Finance Minister Vardan Aramyan signed this convention on behalf of Armenia, the Ministry of Finance informed Armenian News-NEWS.am.

The text of the Convention was developed and accepted by the working group comprised of the representatives of 99 member-countries of the Base erosion and profit shifting (BEPS) project of the Organization for Economic Cooperation and Development (OECD); it is the 15th action of this project.

The signing of this document enables to define single approaches to some clauses of double taxation agreements for the taxpayers of the countries that have signed the Convention. 

In addition, these approaches will make the fight against tax evasion become more effective.