On 2 December 2020, the Spanish Senate approved the law for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Once the internal ratification process is complete, Spain will need to deposit its ratification instrument to bring the MLI into force for its covered agreements (tax treaties). The MLI will generally enter into force for a particular covered agreement on the first day of the month following a three-month period after both parties to the covered agreement have deposited their ratification instruments. For the MLI to become effective, Spain...