Monitoring of BEPS plan reports

On August 13^th, 2019, the OECD published inspection reports of Belgium, Canada, the Netherlands, Switzerland, the United Kingdom and the United States on the implementation of BEPS recommendations for dispute resolution.

Current results show a positive trend in all six countries:

• updated and clarified questions on the mutual agreement procedure (hereinafter - MAP);

• all jurisdictions have introduced documentary guidance to facilitate the notification process or bilateral consultations with a foreign competent authority;

• an additional number of jobs was introduced, as well as organizational changes were carried out with the aim of more timely, effective and efficient consideration of mutual coordination procedures;

• all countries have reduced the amount of time required to close MAP procedures. And 5 out of 6 jurisdictions fulfilled the required deadline for their closure;

• a multilateral convention has been used by almost all jurisdictions to bring treaties into line with the OECD standard.

In the future, the OECD will continue to publish reports on this issue in accordance with the peer review evaluation schedule.

On materials of the following website: http://www.oecd.org/tax/beps/oecd-releases-first-stage-2-monitoring-reports-for-beps-action-14-on-improving-tax-dispute-resolution-mechanisms.htm