The OECD has released BEPS Action 14 stage 2 peer review monitoring reports for Estonia, Greece, Hungary, Iceland, Romania, the Slovak Republic, Slovenia and Turkey. Under BEPS Action 14, jurisdictions have committed to implement a minimum standard to improve the resolution of tax-related disputes between jurisdictions.

The reports evaluate the progress made by the jurisdictions in implementing any recommendations resulting from their stage 1 peer review. 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.

The report highlights that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI) 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. All jurisdictions have issued or updated their Mutual Agreement Procedure (MAP) guidance.