The Organisation for Economic Co-operation and Development (OECD) has released its schedule for Action 14 peer reviews and has asked for taxpayer input on its Base Erosion Profit Shifting (BEPS) Action Plan.
On October 20, 2016, the OECD published the key documents that will form the basis of the Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan.
In accordance with the assessment methodology, the reviews will be conducted in batches, with the first batch commencing in December 2016.
This schedule also identifies the developing countries for which the review has been deferred. The schedule will be updated periodically to include the remaining Inclusive Framework members.
In preparation for the first batch of reviews and in recognition that taxpayers are the main users of the AMP, the FTA MAP Forum invites taxpayers to provide input on specific areas relating to access to MAP, clarity and availability of MAP guidance and the timely implementation of MAP agreements in relation to the first batch of reviews, which comprises the reviews of Belgium, Canada, the Netherlands, Switzerland, the UK and the US.