On 7-9 December 2017, Bolormaa Volodya, Partner, and Altanzaya Gunsen, Taxation Counsel of Absolute Advocates LLP, GRATA International's associate office in Mongolia, have attended International Taxation Conference 2017 in Mumbai, India. The Conference was organised by Foundation for International Taxation based in India in co-operation with Organisation for Economic Co-operation and Development (OECD) in Paris and International Bureau of Fiscal Documentation (IBFD) in the Netherlands. Over 400 conference delegates, including international tax experts, academics, corporate representatives, tax professionals and revenue officials, from all over the world have attended this 3-days conference. The aim of this event was to get the latest trends of international taxation law.
The 22nd annual International Taxation Conference was a continuation of the Base Erosion and Profit Shifting (BEPS) theme from 2016 conference, including a focus on the Multilateral Instrument (MLI) under Action 15. BEPS refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations. Under the inclusive framework, over 100 countries and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS. 15 actions under BEPS Project equip governments with domestic and international instruments to address tax avoidance, ensuring that profits are taxed where economic activities generating the profits are performed and where the value is created. MLI is a master treaty that will amend more than a thousand bilateral tax treaties to implement the OECD’s plan to combat base erosion and profit sharing.
The outstanding team of taxation experts from different countries and jurisdictions, as well as from the OECD have presented and shared practical aspects of implementing the MLI and had a panel discussion of the practical implementation of BEPS and MLI during 3-days conference.
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