Does Australia’s Updated MAP Guidance Meet MAP Peer Review Report Undertakings?

[Extract] On 30 August 2018 the OECD released the fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms. Included in this round was a report on Australia. The report concluded that Australia meets part of the elements of the Action 14, and in particular meets some of the requirements regarding the availability and access to mutual agreement procedure (MAP). Where Australia has deficiencies, it was reported that Australia is working on most of them.