On September 13, 2022 the OECD published the stage 2 peer review monitoring reports of the following 13 jurisdictions:

• Aruba;
• Bahrain;
• Barbados;
• Gibraltar;
• Greenland;
• Kazakhstan;
• Oman;
• Qatar;
• Saint Kitts and Nevis;
• Thailand;
• Trinidad and Tobago;
• United Arab Emirates;and
• Viet Nam.

The peer review process is conducted in two stages. Stage 1 assesses jurisdictions against the terms of reference of the minimum standard according to an agreed schedule of review. Stage 2 focuses on monitoring the follow-up of any recommendations resulting from jurisdictions' Stage 1 peer review report. This report reflects the outcome of the Stage 2 peer monitoring of the implementation of the BEPS Action 14 Minimum Standard.

The reports issued on September 13, 2022 evaluate the progress made by the aforementioned 13 jurisdictions in implementing any recommendations resulting from their Stage 1 peer review. They take into account any developments in the period January 1, 2020 – October 31, 2021 and build on the Mutual Agreement Procedure (MAP) statistics for 2016-2020.

The results from the peer review and peer monitoring process demonstrate positive changes across all 13 jurisdictions, although not all show the same level of progress. Highlights include:

• The Multilateral Instrument was signed by Bahrain, Barbados, Kazakhstan, Oman, Qatar, Thailand, United Arab Emirates and Viet Nam, with the instrument already being ratified by Bahrain, Barbados, Kazakhstan, Oman, Qatar, Thailand and United Arab Emirates, 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.
• Aruba, Bahrain, Gibraltar, Greenland, Qatar, Thailand and United Arab Emirates 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.
• Barbados, Greenland, Oman, Qatar, Thailand and Viet Nam 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.
• Aruba, Barbados, Qatar, Thailand, United Arab Emirates and Viet Nam closed MAP cases within the pursued average time of 24 months, whereas Bahrain, Gibraltar and Saint Kitts and Nevis had no MAP experience.
• Bahrain, Gibraltar, Kazakhstan, Oman, Qatar, Trinidad and Tobago and United Arab Emirates ensure that MAP agreements can always be implemented notwithstanding domestic time limits.
• Aruba, Bahrain, Barbados, Gibraltar, Oman, Qatar, Saint Kitts and Nevis, Thailand and United Arab Emirates have issued or updated their MAP guidance.

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