OECD Releases New Peer Reviews Reports And Calls For Taxpayer Inputs

; posted on
March 16th, 2018

The OECD released another eight peer review reports, which highlight how well jurisdictions are implementing the Action 14 minimum standards. The BEPS Action 14, as agreed to in the OECD/G20 BEPS Project, is continuing the efforts to make dispute resolution more timely, effective and efficient.

The Third Round of Peer Review

The third round of the peer review involves eight countries, that is, Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain. The document addressing the implementation of best practices is also available on each jurisdiction that chose to opt to have such best practices assessed. Over 215 specific recommendations relating to the minimum standard are contained in the reports. These stage 1 peer review reports continue to represent an important step forward to turn the political commitments made by the members of the Inclusive Framework on BEPS into measurable, tangible progress. In stage 2 of the peer review process, each jurisdiction’s effort to address the recommendations identified in its stage 1 peer review report will be assessed. The OECD will continue to publish stage 1 peer review reports in accordance with the Action 14 peer review assessment schedule.

Tax Payers’ Inputs Inquiry for The 5th Round of Peer Review

The OECD is also calling on taxpayers to submit input for the fifth round of Action 14 Stage 1 peer reviews of Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia and Turkey, and invites taxpayers to submit input on specific issues relating to access to MAP, clarity and availability of MAP guidance and the timely implementation of MAP agreements for each of these jurisdictions using the taxpayer input questionnaire. Feedback should be submitted by April 9, 2018.

Sources: OECD

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