June 7, 2017, Paris - Russia signs the Multilateral Convention of the Organization for Economic Cooperation and Development (OECD) [1] on the implementation of measures relating to tax agreements. As a result, now the Russian Federation, as well as several dozens of other jurisdictions that have signed the document, should begin implementing the BEPS plan (Action Plan on Base Erosion and Profit Shifting, created in 2013) since the Convention is developed within the framework of this very plan. While it is only signed, but not ratified, however, the first changes in taxation can be expected as early as the beginning of 2019.

[1] The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("the Multilateral Instrument").