On 12 March 2018, OECD released the third batch of peer review reports on the implementation of the BEPS minimum standard under Action 14.
Singapore was amongst the assessed jurisdictions in the third batch. Singapore requested that the Organisation for Economic Co-operation and Development (OECD) also provide feedback concerning their adoption of the Action 14 best practices. Therefore, in addition to the peer review report, the OECD has released an accompanying best practices report.
Overall, the report concludes that Singapore meets almost all the elements of the Action 14 minimum standard on improving tax dispute resolution mechanisms. In the next stage of the peer review process, Singapore’s efforts to address any shortcomings identified in the Stage 1 peer review report will be monitored.
