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OECD Inviting Input On BEPS Action 14 Peer Reviews

by Ulrika Lomas, Tax-News.com, Brussels

28 November 2017


The OECD is seeking taxpayers' input on the mutual agreement procedure frameworks in place in the fourth batch of countries that will now be peer reviewed under the base erosion and profit shifting (BEPS) project: Australia, Ireland, Israel, Japan, Malta, Mexico, New Zealand, and Portugal.

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 MAP peer review and monitoring process under BEPS Action 14 was launched in December 2016, with peer reviews of the first two batches already completed while the third batch is underway. Peer reviews are conducted in two stages. Stage 1 seeks to evaluate implementation of the Action 14 minimum standard, on making dispute resolution mechanisms more effective, and stage 2 look at how countries have followed up on these recommendations.

The OECD has invited input from taxpayers, as the main users of the MAP in the aforementioned countries, asking them to complete a questionnaire on specific issues relating to access to MAP, clarity, and availability of MAP guidance, and whether the implementation of MAP agreements is timely in these jurisdictions. For the countries included in the latest batch, taxpayer input has been requested by December 22.

TAGS: compliance | tax | investment | business | tax compliance | Ireland | Malta | Portugal | tax avoidance | law | Organisation for Economic Co-operation and Development (OECD) | Australia | Israel | Mexico | agreements | multinationals | transfer pricing | New Zealand | tax reform | trade | European Union (EU) | Japan | Europe | BEPS

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