On March 12, 2018, the OECD published mutual agreement procedure (MAP) peer review reports of the following eight jurisdictions: Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore, and Spain.
The reports highlight how well these jurisdictions are implementing the base erosion and profit shifting (BEPS) Action 14 minimum standard on making tax treaty dispute resolution more timely, effective, and efficient. The reports contain over 215 specific recommendations relating to the minimum standard.
A document addressing the implementation of best practices is also available on each jurisdiction that chose to opt to have such best practices assessed. In stage 2 of the peer review process, each jurisdiction’s effort to address the recommendations identified in stage 1, will be assessed.
Meanwhile, the OECD has invited taxpayers to submit input for the fifth round of BEPS Action 14 stage 1 peer reviews of Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia, and Turkey.
Input is specifically invited on 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.
Input must be received by April 9, 2018.