The OECD/G20 Inclusive Framework on BEPS has approved the process for the BEPS Action 5 peer review of the transparency framework for the years 2021 to 2025.
The framework includes enhanced Terms of Reference for assessing the implementation of the minimum standard and a streamlined Methodology, adopting a risk-based approach towards the peer reviews. The new process builds on the first phase of peer reviews covering the years 2017 to 2020, with the most recent statistics gathered from the 124 peer reviewed jurisdictions showing that so far 36 000 exchanges on more than 20 000 tax rulings have taken place. With the renewed peer review process now being agreed, the 2021 review in relation to the year 2020 is underway, with results expected later this year. See Announcement Comments are closed.
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