The Organisation for Economic Cooperation and Development (OECD) announced the publication of the fourth round of stage one peer review reports under the base erosion and profit shifting (BEPS) project.
As noted in the OECD release, the reports assess a country’s efforts to implement the Action 14 minimum standard as agreed to under the BEPS project. The countries that are the subjects of these reports are: Australia, Ireland, Israel, Japan, Malta, Mexico, New Zealand, and Portugal. The reports contain over 130 targeted recommendations that will be followed up in stage two of the peer review process. A document addressing the implementation of best practices is also available for each jurisdiction that opted to have such best practices assessed.
The concept is to address obstacles that prevent countries from resolving treaty-related disputes under the mutual agreement procedure (MAP) and to recommend measures to overcome such obstacles, including a set of minimum standards ("the Action 14 minimum standard") so that treaty-related disputes are resolved in a timely, effective, and efficient manner. The peer review reports incorporate MAP statistics from 2016 and 2017, as reported under the recently developed MAP Statistics Reporting Framework [PDF 252 KB].
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