On 20 December 2017, the Jersey government announced the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), which Jersey signed on 7 June 2017. The MLI will generally apply for a particular Jersey bilateral tax treaty after both Jersey and the other party to the treaty have deposited their respective ratification instruments. However, the MLI itself must first enter into force, which requires ratification by five signatories. To date, three jurisdictions, including Jersey, have deposited their ratification instrument (list of signatories and ratification status).