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First Countries For OECD's MAP Peer Review Selected

by Ulrika Lomas, Tax-News.com, Brussels

01 November 2016


Belgium, Canada, the Netherlands, Switzerland, the UK, and the US will be the first territories whose mutual agreement procedure framework will be peer reviewed under Action 14 of the OECD's base erosion and profit shifting Action Plan.

The OECD's Action 14 proposals concern making dispute resolution mechanisms more effective. The MAP is used to settle disputes between countries and taxpayers concerning cross-border tax arrangements for trade and investment where double taxation of the same income occurs.

The first batch of peer reviews, by countries that have signed up to the inclusive BEPS framework and therefore committed to implement minimum BEPS standards, will start from December 2016. Last month the OECD released an assessment methodology for that process.

The OECD has now asked taxpayers, as the main users of the MAP, to provide input on specific areas relating to access to MAP, clarity and availability of MAP guidance, and the timely implementation of MAP agreements.

TAGS: tax | business | Belgium | Netherlands | tax avoidance | law | Organisation for Economic Co-operation and Development (OECD) | enforcement | agreements | multinationals | tax planning | transfer pricing | Canada | Switzerland | tax reform | trade | European Union (EU) | Europe | BEPS

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