The OECD is seeking taxpayers’ input for the seventh round of base erosion and profit shifting (BEPS) Action 14 Stage 1 peer reviews of further eight jurisdictions.
The mutual agreement procedure (MAP) peer review and monitoring process under BEPS Action 14 was launched in December 2016.
The peer review process is conducted in two stages: Stage 1 evaluates implementation of the BEPS Action 14 minimum standard for members of the Inclusive Framework on BEPS, while Stage 2 focuses on monitoring the follow-up of the recommendations resulting from jurisdictions’ Stage 1 report.
Till date, the OECD has released four rounds of Stage 1 peer review reports covering 29 jurisdictions.
The OECD is now seeking input for the following right countries: Brazil, Bulgaria, China, Hong Kong (China), Indonesia, Papua New Guinea, Russia, and Saudi Arabia.
Input is sought 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.
Responses must be filed using the “Taxpayer Input Questionnaire.”
Comments must be received by December 13, 2018.