BEPS 이행 다자협약의 현황과 전망

Abstract

This paper reviews the ‘Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting’ (hereinafter ‘MLI’) as part of OECD/G20 BEPS project and discusses its implications in terms of international tax law and policy. Accession to the MLI enables the numerous bilateral tax treaties of the Parties to be modified with the minimum standards of BEPS project, i.e., Prevention of Treaty Abuse (Action 6) and Effective Resolution of Disputes (Action 14). In addition, the MLI contains a number of amendments to the OECD Model Tax Convention (hereinafter ‘MTC’) adopted as part of the BEPS Actions. Thus, the MLI can be evaluated as an efficient and effective mechanism to modify the existing network of bilateral treaties under the principle of lex posterior derogat legi priori while providing flexibility for the Parties to opt in or out of the other MLI provisions. However, the MLI provisions seem too complicated to understand on its own. Moreover, there are concerns of misunderstanding over the reservations of the Parties and of the change in the balance of interests in the existing bilateral treaties. Nevertheless, the author would like to assess the MLI as another example of progress in multilateralism in international taxation since the conclusion of the new Convention on Multilateral Administrative Assistance in Tax Matters in 2010 in that the anti-avoidance measures such as the adoption of the Principal Purpose Test have been taken as minimum standards under the framework of a multilateral treaty. It appears that the government of Korea only accepts the minimum requirement of the MLI provisions and is considering whether to accommodate any more provisions of the MLI. From the policy perspective, the signing of the MLI will provide a momentum for the Korean government to expedite the long overdue renegotiations of existing tax treaties with advanced and developing countries. In this regard, the Korean government should take into account the MLI together with the 2017 OECD MTC in setting up a new tax treaty policy and proceed to negotiations or renegotiations of tax treaties.