OECD Tax Tool Assesses Risks Faster Than Other Instruments (2)

Companies using an OECD tax compliance program assessed risks faster than with other legal tools that cut down on disputes between businesses and authorities, according to statistics released Monday.

Multinational enterprises completed the International Compliance Assurance Program in an average of 61 weeks, nearly twice as fast as advance pricing agreements or mutual agreement procedures, according to the Organization for Economic Cooperation and Development.

ICAP allows multinational companies to discuss their positions with tax administrations and obtain more certainty about their tax bills.

The statistics also showed about a third of the ICAP cases caught and addressed at least ...