Mutual Agreement Procedure MAP was recently seen in news with reference to ........

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Mutual Agreement Procedure (MAP) was recently seen in news with reference to

Double taxation

Safeguarding Marine Biosphere Reserve (MBP)

Smart Cities

Cyber Security of critical systems

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Explanation:

MAP is an alternative available to taxpayers to resolve disputes giving rise to double taxation, whether juridical or economic in nature. An agreement for avoidance of double taxation between countries would give authorization for assistance of Competent Authorities (CAs) in the respective jurisdiction under MAP. The main benefit of pursuing MAP is the elimination of double taxation (either juridical or economic). The MAP resolution, once accepted, eliminates protracted litigation.