The OECD has added the Slovak Republic to the International Compliance Assurance Programme (ICAP), expanding participation to 25 countries and strengthening multilateral tax certainty through cooperative risk assessments between multinational groups and tax administrations.
The OECD has announced that the Slovak Republic has joined the International Compliance Assurance Programme (ICAP), increasing the number of participating countries to 25.
ICAP is a voluntary risk assessment and assurance programme to facilitate open and co-operative multilateral engagements between MNE groups willing to engage actively and transparently and tax administrations in jurisdictions where they have activities.
By co-ordinating conversations between an MNE group and multiple tax administrations, ICAP supports the effective use of transfer pricing documentation, including the MNE group’s Country-by-Country report, providing a faster, clearer and more efficient route to improved multilateral tax certainty.
ICAP should reduce the resource burden on both MNE groups and tax administrations, meaning fewer disputes requiring resolution through mutual agreement proceedings. Where an area is identified as needing further attention, work conducted in ICAP can improve the efficiency of compliance action taken outside the programme, if needed.
