The OECD on February 1 published assessments of the cross-border tax dispute resolution processes in Aruba, Bahrain, Barbados, Gibraltar, Greenland, Kazakhstan, Oman, Qatar, Saint Kitts and Nevis, Thailand, Trinidad and Tobago, United Arab Emirates, and Vietnam.
Each jurisdictions’ practices were assessed against minimum standards established by OECD and G20 nations in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) project.
As members of the Inclusive Framework on BEPS, an OECD-led body made up of 137 nations working on multinational group taxation issues, the 13 nations agreed to adopt the BEPS minimum standards and be peer-reviewed on their compliance by other Inclusive Framework members countries.
In an accompanying announcement, the OECD reported that almost 340 targeted recommendations were made to the 13 nations for improving their cross-border tax dispute resolution processes in stage 1 assessments. The Inclusive Framework plans to follow up on whether these recommendations are in fact adopted in later, stage 2 assessments.
The OECD said that with this final group of 13 nations, all stage 1 peer reviews are complete. Altogether, the Inclusive Framework has assessed 82 nations at stage 1 and 37 nations at stage 2, the OECD said.
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