14/04/2022 - Under BEPS Action 14, jurisdictions have committed to implement a minimum standard to improve the resolution of tax-related disputes between jurisdictions. Despite the significant disruption caused by the ongoing COVID-19 pandemic and the necessity to hold all meetings virtually, work has continued with the release today of the Stage 2 peer review monitoring reports for Andorra, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Faroe Islands, Macau (China), Morocco and Tunisia.
These reports evaluate the progress made by these nine jurisdictions in implementing the recommendations resulting from their Stage 1 peer review. They take into account any developments in the period of 1 September 2019 – 30 April 2021 and build on the Mutual Agreement Procedure (MAP) statistics for 2016-2020.
The results from the peer review and peer monitoring process demonstrate positive changes across all nine jurisdictions, although not all show the same level of progress. Highlights include:
The OECD will continue to publish Stage 2 peer review reports in batches in accordance with the Action 14 peer review assessment schedule. In total, 82 Stage 1 peer review reports and 69 Stage 1 and Stage 2 peer monitoring reports have now been published, with the tenth and final batch of Stage 2 reports to be released in a few months.
More information on the BEPS Action 14 Mutual Agreement Procedure can be found at https://oe.cd/bepsaction14
Media queries should be directed to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration (+33 1 45 24 91 08), or Achim Pross, Head of the International Co-operation and Tax Administration Division (+33 1 45 24 98 92).