The Organisation for Economic Cooperation and Development (OECD) today announced the first round of “stage 2” peer-review monitoring reports concerning the follow-up of recommendations resulting from the “stage 1” peer-review reports.
The mutual agreement procedure (MAP) peer review and monitoring process of the tax dispute resolution mechanisms under Action 14 of the base erosion and profit shifting (BEPS) project was launched in December 2016, with the peer-review process to be conducted in two stages.
As noted in today’s OECD release, stage 2 monitoring reports are available for:
The reports evaluate the progress made by these six jurisdictions, demonstrating “positive change across all six jurisdictions.” In support, the OECD provided the following examples:
The OECD release states that further progress on making dispute resolutions more timely, effective, and efficient will become known as other stage 2 monitoring reports are published.
In the meantime, the OECD will continue to publish stage 1 peer-review reports in accordance with the Action 14 peer-review assessment schedule.
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