OECD reports assess cross-border tax dispute resolution in Andorra, Bahamas, Bermuda, BVI, Cayman Islands, Faroe Islands, Macau, Morocco, Tunisia

By Julie Martin, MNE Tax

The OECD on July 27 published reports approved by a group of 135+ countries known as the “Inclusive Framework on BEPS” that assess the cross-border tax dispute resolution process in Andorra, the Bahamas, Bermuda, British Virgin Islands, the Cayman Islands, the Faroe Islands, Macau (China), Morocco, and Tunisia.

The reports offer about 185 recommendations on ways these countries could improve their practices, the OECD said.

The reports are “Stage 1” peer review reports, assessing each country’s tax dispute resolution practices against minimum standards agreed to by nations in 2015 as a result of the OECD/G20 base erosion profit shifting (BEPS) plan.

The Inclusive Framework will conduct a “stage 2” review of these countries’ practices at a later date and write a follow-up report discussing whether their recommendations were adopted.

As members of the Inclusive Framework, Andorra, the Bahamas, Bermuda, British Virgin Islands, the Cayman Islands, the Faroe Islands, Macau, and Tunisia made a commitment to be bound by the standards for cross-border tax dispute resolution set out int the BEPS agreements.

With the release of the reports, the Inclusive Framework has now reviewed the cross-border tax dispute framework of 69 countries at least once.

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Julie Martin

Founder & Editor at MNE Tax

Julie Martin is the founder of MNE Tax. She edits the publication and regularly contributes articles on new developments in cross-border business taxation.

Julie has worked as a tax journalist and editor for more than 13 years. Prior to that, she worked as an in-house tax attorney in New York. She also holds an LLM in taxation from New York University School of Law.

Julie can be reached at [email protected].

@mnetax

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Julie can be reached at [email protected].