OECD updates to MAP and APA guidance have implications for US multinationals

The  Organisation for Economic Co-operation and Development's (OECD) updates of guidance on the Mutual Agreement Procedure (MAP) and Advanced Pricing Agreement (APA) processes provide greater tax certainty for international taxpayers and tax administrations around the world, including United States (US) multinationals working with the Internal Revenue Service (IRS).

The IRS is currently updating its MAP and APA guidance, which is expected to align with the OECD guidance.