Finland's Ministry of Finance has announced that on 8 May 2020, the Finnish President approved the law for the ratification of the pending protocol to the 2016 tax treaty with Germany. The protocol, signed 18 November 2019, updates the treaty's title and preamble and replaces Article 25 (Application of the Convention in Special Cases) with a new Article 25 (Prevention of Treaty Abuse) in line with OECD BEPS Standards. The protocol will enter into force 30 days after the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.