Today, the OECD/G20 Inclusive Framework on BEPS released the latest peer review assessments for 136 jurisdictions in relation to the spontaneous exchange of information on tax rulings. This is the eighth annual peer review of the implementation of the BEPS Action 5 minimum standard on tax rulings, which aims to provide tax administrations with the necessary information concerning their taxpayers to efficiently tackle tax avoidance and other BEPS risks.

The 2023 Peer Review Reports on the Exchange of Information on Tax Rulings indicate that over 58,000 exchanges of information have taken place in respect of the over 26,000 tax rulings that have been identified to date. For the 2023 year in review specifically, over 4,600 exchanges of information took place in respect of the almost 2,000 identified tax rulings. These numbers demonstrate the ongoing high level of compliance of Inclusive Framework members with the BEPS Action 5 minimum standard and underline the ongoing importance of a structured, global policy for ensuring transparency and exchange of information on tax rulings.

The new peer review results show that 104 jurisdictions are fully in line with the BEPS Action 5 minimum standard. The remaining 32 jurisdictions received a total of 56 recommendations to improve their legal or operational framework to identify the relevant tax rulings and spontaneously exchange information. The feedback given by Inclusive Framework members under this peer review process has led several jurisdictions to revise their processes and improve the clarity and quality of the information exchanged.

For more information on the BEPS Action 5 peer review and monitoring process, visit www.oecd.org/en/topics/harmful-tax-practices.html.

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