Taxes
12 November 2018

Slovakia officially ratified the Multinational Instrument

On 21 September 2018 Slovakia officially submitted ratification instrument of Multilateral Convention which will enter into force for Slovakia on 1 January 2019.

Marianna Dávidová

On 21 September 2018 Slovakia officially submitted ratification instrument of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Instrument) at OECD Secretary – General and became 12th country out of 84 counties that signed the Multilateral Instrument.

The Multilateral Instrument will enter into force for Slovakia on the first day following a three-month period after the submission of their respective ratification instruments, i.e. 1 January 2019. Once ratified, the Multilateral Instrument will only affect double tax treaties concluded with other jurisdictions that have ratified the Multilateral Instrument and that have also included that treaty in their list of covered tax agreements.

If you are not sure how the Multilateral Instrument affects your transactions please do not hesitate to contact us:kpmg@kpmg.sk

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