The Organisation for Economic Cooperation and Development (OECD) today announced the release of eight additional peer review reports pursuant to the base erosion and profit shifting (BEPS) Action 14 on standards for improving tax dispute resolution mechanisms.
As noted in an OECD release, the third round reports relate to implementation by the Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore, and Spain. A document addressing the implementation of best practices is also available on each jurisdiction that chose to opt to have such best practices assessed. These eight reports contain over 215 specific recommendations relating to the minimum standard. 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 also requested 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 the mutual agreement procedure (MAP), clarity and availability of MAP guidance and the timely implementation of MAP agreements for each of these jurisdictions. Comments are due by 9 April 2018.
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