Under the BEPS package, jurisdictions have committed to implement minimum standards to improve transparency over the global operations of large MNE groups and the resolution of tax-related disputes between jurisdictions. Today, the OECD releases the seventh annual peer review of the implementation of BEPS Action 13 on Country-by-Country Reporting covering 138 Inclusive Framework on BEPS members, and the latest BEPS Action 14 Mutual Agreement Procedure peer review results. 

The seventh peer review of BEPS Action 13 considers the implementation of the Country-by-Country (CbC) Reporting minimum standard by jurisdictions as of April 2024. Highlights include:

• Over 115 jurisdictions have already introduced legislation to impose a filing obligation on MNE groups, covering almost all MNE Groups with consolidated group revenue at or above the threshold of EUR 750 million. Remaining Inclusive Framework members are working towards finalising their domestic legal frameworks with the support of the OECD.
• Where legislation is in place, the implementation of CbC Reporting has been found largely consistent with the Action 13 minimum standard.
• More than 3300 bilateral relationships for the exchange of CbC reports are now in place.

The BEPS Action 13 peer review is an annual process and the next peer review report will be released in the third quarter of 2025.

Following the successful completion of peer reviews under the initial BEPS Action 14 Assessment Methodology, the Inclusive Framework on BEPS agreed upon a new Assessment Methodology in December 2022 for continuing the robust peer review process that seeks to increase efficiencies and improve the timeliness of the resolution of double taxation disputes.

The new Assessment Methodology for the Action 14 peer reviews includes both a simplified peer review process, for jurisdictions that do not have 'meaningful MAP experience', and a full peer review process, for jurisdictions considered to have 'meaningful MAP experience’. Work on this new process for continued monitoring is now well underway, with the release today of 20 new peer review reports under the simplified process for the following jurisdictions (Stage 1 Batches 1 & 2): Albania, Antigua and Barbuda, Belize, Botswana, Colombia, Cook Islands, Costa Rica, Dominican Republic, Egypt, Jamaica, Jordan, Lithuania, Mauritius, Nigeria, North Macedonia, Pakistan, Serbia, Seychelles, Sri Lanka, and Zambia.

The simplified peer review process was put in place with the main objective of helping jurisdictions with no or low MAP experience to set up a more robust MAP programme for a possible increase in cases in the future. The results from the first two batches of the simplified peer review demonstrate that most jurisdictions that are part of the simplified peer review process either have or are eager to put in place a policy framework for MAP as well as a well-functioning MAP programme and are willing to take the necessary measures to achieve the efficient, effective and timely resolution of disputes. Highlights include:

• The Multilateral Instrument was signed by Albania, Belize, Colombia, Costa Rica, Egypt, Jamaica, Jordan, Lithuania, Mauritius, Nigeria, North Macedonia, Pakistan, Serbia and Seychelles, with the instrument already being ratified by Albania, Belize, Costa Rica, Egypt, Jordan, Lithuania, Mauritius, Pakistan, Serbia and Seychelles, which will bring a substantial number of their treaties in line with the Action 14 minimum standard. In addition, there are bilateral negotiations either ongoing or concluded.

• Albania, Costa Rica, Colombia, Lithuania, Nigeria and Sri Lanka 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.

• Costa Rica and Nigeria either closed their MAP cases within the pursued average time of 24 months or have a competent authority that is considered adequately resourced, whereas Antigua & Barbuda, Belize, Cook Islands and Seychelles had no MAP experience.

• Albania, Costa Rica, Dominican Republic, Jamaica, Jordan, Mauritius, Pakistan, Zambia, Antigua and Barbuda, Colombia, Lithuania, Nigeria, Seychelles and Sri Lanka ensure that MAP agreements can always be implemented notwithstanding domestic time limits.

• Colombia, Costa Rica, Dominican Republic, Lithuania, Mauritius, Nigeria, Serbia, Sri Lanka and Zambia have issued or updated their MAP guidance.

The OECD will continue to publish peer review reports under Stage 1 of the simplified review process and Cycle 1 of the full peer review process in batches in accordance with the Action 14 peer review assessment schedule.

More on the work by the OECD on Country-by-Country reporting can be found at https://oe.cd/cbcr

More information on the BEPS Action 14 Mutual Agreement Procedure can be found at https://oe.cd/bepsaction14

Media queries should be directed to Manal Corwin, Director of the OECD Centre for Tax Policy and Administration (+33 1 45 24 18 80), or Sandra Knaepen, Co-Head of the Tax Certainty Unit (+33 1 45 24 98 92).