The OECD has introduced a new multilateral convention to address base erosion and profit shifting, aiming to ensure that multinational corporations (MNCs) pay their fair share of taxes in the countries where they operate. This convention is part of the Two-Pillar Solution proposed by the OECD to tackle tax challenges brought about by digitalization and globalization.
For the purpose of CRS, depository institutions like banks, custodial institutions like mutual funds, investment entities like hedge funds or private equity funds, a.