The OECD has published updated Frequently Asked Questions on the International Compliance Assurance Programme (ICAP). ICAP is a voluntary risk assessment and assurance programme to facilitate open and cooperative multilateral engagements between MNE groups and tax administrations in jurisdictions where they have activities. This involves support for the effective use of transfer pricing documentation, including Country-by-Country reports. The new questions include the following: 4. How many periods does an ICAP risk assessment cover, and is there a possibility for a roll forward of the outcomes? (NEW) An ICAP risk assessment generally covers one or two consecutive periods, agreed with an...