Countering harmful tax practices: Peer review on exchange information on tax rulings shows high level of compliance with BEPS Action 5 minimum standard
- High Compliance with BEPS Action 5: The OECD/G20 Inclusive Framework’s 2023 peer review of 136 jurisdictions shows over 58,000 exchanges of information on tax rulings, indicating strong adherence to BEPS Action 5 standards.
- Ongoing Importance of Transparency: The 2023 reports highlight the continued high level of compliance, with over 4,600 exchanges in the past year alone, emphasizing the significance of global transparency and information exchange in combating tax avoidance.
- Recommendations for Improvement: While 104 jurisdictions are fully compliant, 32 jurisdictions received 56 recommendations to enhance their frameworks, showing the peer review process’s role in improving global tax practices.
Source OECD
