13/12/2018 - As part of continuing efforts to improve tax transparency, the Inclusive Framework on BEPS has now assessed 92 individual jurisdictions' progress in spontaneously exchanging information on tax rulings, in accordance with Action 5 of the OECD/G20 BEPS package.
The 2017 Peer Review Reports on the Exchange of Information on Tax Rulings show that one key aim of the BEPS Project – increasing transparency on tax rulings - is a long way to being achieved, with more than 16 000 tax rulings being identified and almost 21 000 exchanges of information having taken place to date. The peer review process itself has proven to be very effective, with 60% of recommendations issued in the first annual report just one year ago already having been successfully addressed.
At the same time, work remains to be done. The report contains 60 jurisdiction-specific recommendations on issues such as improving the timeliness of the exchange of information and ensuring that exchanges of information are made with respect to preferential tax regimes that apply to income from intellectual property.
The Inclusive Framework will continue to make progress in this area, with the next annual peer review to be undertaken again in 2019, to ensure recommendations for improvement continue to be addressed and to further expand the review to cover recent members and additional developing country members of the Inclusive Framework.
Media queries should be directed to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration (+33 1 45 24 91 08), or Achim Pross, Head of the International Co-operation and Tax Administration Division (+33 1 45 24 98 92).