OECD publishes peer review report on BEPS Action 13

On October 18, 2021, the OECD released the latest outcomes of the implementation of BEPS Action 13 on the transparency of global operations of large MNEs and BEPS Action 14 on the resolution of tax related disputes between jurisdictions.

Over 100 jurisdictions have already introduced legislation to impose a filing obligation on MNE groups, covering practically all MNE Groups with consolidated group revenue at or above the threshold of EUR 750 million. Remaining Inclusive Framework members are working towards finalising their domestic legal frameworks with the support of the OECD. Where legislation is in place, the implementation of country-by-country (CbC) reporting has been found largely consistent with the Action 13 minimum standard.

Many recommendations made in the first three peer review phases have now been addressed and these recommendations have been removed. More than 3000 bilateral relationships for the exchange of CbC reports are now in place.
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The BEPS Action 13 peer review is an annual process, and the next peer review report will be released in the third quarter of 2022.

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