OECD Completes Phase One BEPS Action 14 Reviews
Ulrika Lomas, Tax-News.com, Brussels
22 February, 2021
On February 16, 2021, the OECD released the final batch of BEPS Action 14 peer reviews, on the efforts of 13 jurisdictions to improve how they resolve tax-related cross-border disputes.
The stage 1 peer reviews are for Aruba, Bahrain, Barbados, Gibraltar, Greenland, Kazakhstan, Oman, Qatar, Saint Kitts and Nevis, Thailand, Trinidad and Tobago, United Arab Emirates and Vietnam.
They evaluate how the jurisdictions have implemented the Action 14 minimum standard of the OECD/G20 BEPS Project, which seeks to improve the mechanisms available to multinational taxpayers to resolve double tax disputes.
The new reports contain almost 340 targeted recommendations that will be followed up in stage 2 of the peer review process.
The OECD has now published stage one peer review reports for all jurisdictions and published three batches of stage two reports. In total, 82 stage one peer reviews and 37 stage one and stage two peer reviews have been finalized, with the fourth batch of stage two reports to be released in a few months.
TAGS: United Arab Emirates | tax | Gibraltar | Aruba | Bahrain | Qatar | Thailand | Trinidad and Tobago | transfer pricing | Kazakhstan | Saint Kitts and Nevis | G20 | Barbados | Greenland | Oman | Vietnam | BEPS |