Taxpayer Input Sought on Fresh Round of MAP Peer Reviews

Taxpayer Input Sought on Fresh Round of MAP Peer Reviews

The OECD is seeking taxpayers’ input for the sixth round of base erosion and profit shifting (BEPS) Action 14 Stage 1 peer reviews of eight new 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. The peer reviews of the first five batches are now underway, the OECD said.

The OECD is now seeking input for the following right countries: Argentina, Chile, Colombia, Croatia, India, Latvia, Lithuania, and South Africa.

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.”

The OECD has requested taxpayers to not discuss technical issues relating to the application of a tax treaty provision.

Comments must be received by August 24, 2018.