According to an update from the OECD, Papua New Guinea deposited on 31 August 2023 its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Based on the date of deposit, the MLI will enter into force for Papua New Guinea on 1 December 2023, although its entry into force for Papua New Guinea's covered agreements (tax treaties) will depend on the ratification of the MLI by the counterparty to a par…