The OECD has now published the full version of its 2017 Model Tax Convention on Income and Capital. The model convention is aimed at providing a standard for concluding bilateral tax conventions between countries in order to facilitate economic developmentto prevent tax evasion, and to settle circumstances where international double taxation arise. The model stresses the importance for taxpayers of standardising taxation in cross-border trade.

The 2017 model incorporates revisions to treaty-related measures following on from outcomes of the OECD BEPS Project, in particular concerning hybrid mismatches, treaty benefits, permanent establishment and dispute resolution.