Key takeaways from the statistics
The Organisation for Economic Cooperation and Development (OECD) today released the first aggregated statistics [PDF 443 KB] from the Forum on Tax Administration (FTA) International Compliance Assurance Programme (ICAP) for a multilateral risk assessment of a multinational enterprise (MNE) group’s key international tax risks.
As explained in the accompanying OECD release, the statistics cover all cases completed by October 2023, including the two ICAP pilots, and provide an overview of the jurisdictions and topics covered by the completed risk assessments, the time taken to complete a risk assessment, and aggregated data on risk assessment outcomes. They also consider the relationship between ICAP and other routes to tax certainty such as advance pricing arrangements (APAs) and mutual agreement procedures (MAPs), including how these tools complement each other and can be used together by an MNE group to manage its tax risk and increase tax certainty.
Key takeaways from the statistics include:
MNEs interested in applying for ICAP, including MNEs that have already participated in the program, may reach out to the tax administration in which their group is headquartered at the earliest convenience. For MNEs headquartered in a jurisdiction that does not currently participate in ICAP, such MNEs can contact the OECD to express their interest in participating. Applications are accepted at one of the two annual deadlines—31 March and 30 September.