OECD, on November 28, released peer review reports assessing cross-border tax dispute resolution procedures in Brazil, Bulgaria, China, Hong Kong, Indonesia, Russia, and Saudi Arabia.
The reports were approved by the “Inclusive Framework on BEPS,” a coalition of 135 countries.
The Inclusive Framework is assessing whether the countries make available to taxpayers the mutual agreement procedure (MAP) provided for in the countries’ tax treaties, whether MAP cases are resolved within a reasonable timeframe, and whether they are implemented quickly.
The aim is to encourage countries to improve their processes.
OECD said that the eight reports contain about 190 recommendations that will be followed up in stage 2 of the peer review.
The OECD expects to launch peer reviews of 84 countries by the end of the year.
The peer reviews follow up on the outcome of Action 14 of the 2015 OECD/G20 base erosion profit shifting (BEPS) plan, namely a commitment by countries to resolve tax treaty-related disputes in a timely, effective, and efficient manner.
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