News Share

The Tax Hub

Daily Tax Newsletter

OECD-Estonia-Greece-Hungary-Iceland-Romania-Slovak Republic-Slovenia-Turkey

26 May 2021

Responsive image

OECD Releases Stage 2 Peer Review Reports on Dispute Resolution for Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia, and Turkey

The OECD has announced the release of the stage 2 peer review reports on dispute resolution under BEPS Action 14 for Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia, and Turkey.

---

Making tax dispute resolution more effective: New peer review assessments for Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia and Turkey

25/05/2021 - Under BEPS Action 14, jurisdictions have committed to implement a minimum standard to improve the resolution of tax-related disputes between jurisdictions. Despite the significant disruption caused by the COVID-19 pandemic and the necessity to hold all meetings virtually, work has continued with the release today of the stage 2 peer review monitoring reports for Estonia, Greece, Hungary, Iceland, Romania, the Slovak Republic, Slovenia and Turkey.

These reports evaluate the progress made by these eight jurisdictions in implementing any recommendations resulting from their stage 1 peer review. They take into account any developments in the period 1 May 2018 – 31 October 2019 and build on the MAP statistics for 2016-2018.

The results from the peer review and peer monitoring process demonstrate positive changes across all eight jurisdictions, although not all show the same level of progress. Highlights include:

  • The Multilateral Instrument was signed by all eight jurisdictions and has already been ratified by three of them, which brings a substantial number of their treaties in line with the standard. In addition, there are bilateral negotiations either ongoing or concluded.
  • Hungary, the Slovak Republic, Slovenia and Turkey now have a documented bilateral notification/consultation process that they apply in cases where an objection is considered as being not justified by their competent authority.
  • Estonia, Hungary, the Slovak Republic and Turkey have added more personnel to the competent authority function and/or have made organisational improvements with a view to handle MAP cases in a more timely, effective and efficient manner.
  • Estonia, Iceland, Romania, Slovenia and Turkey closed MAP cases within the pursued average time of 24 months. Furthermore, Greece slightly decreased the amount of time needed to close MAP cases.
  • Greece and Slovenia introduced legislative changes to ensure that MAP agreements can always be implemented notwithstanding domestic time limits, which was already the case for Estonia, Hungary and the Slovak Republic.
  • All jurisdictions have issued or updated their MAP guidance.

The OECD will continue to publish stage 2 peer review reports in batches in accordance with the Action 14 peer review assessment schedule. In total, 82 stage 1 peer review reports and 53 stage 1 and stage 2 peer monitoring reports have now been finalised and published, with the sixth batch of stage 2 reports to be released in a few months.

More on the BEPS Action 14 peer review and monitoring process

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

FX Rates

Global FX Rates including Tax year Average FX Rates and Spot Rates for all Reporting Currencies.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More