OECD: Assessment of BEPS minimum standards | KPMG | GLOBAL
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OECD: Peer review documents, assessment of BEPS minimum standards

OECD: Assessment of BEPS minimum standards

The Organisation for Economic Cooperation and Development (OECD) today released documents to form the basis of minimum standards for peer review under base erosion and profit shifting (BEPS) Action 13 on country-by-country reporting and BEPS Action 5 on the transparency framework.


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Today’s OECD release explains that the BEPS Action 13 standard on country-by-country reporting and the BEPS Action 5 standard for the compulsory spontaneous exchange of information on tax rulings (the "transparency framework") are two of the four BEPS minimum standards. Each of the four BEPS minimum standards is subject to peer review for there to be timely and accurate implementation. All jurisdictions that are members of the “inclusive framework” on BEPS have committed to implementing the minimum standards and participating in the peer reviews.

The documents released today will form the basis on which the peer review processes will be undertaken. These include:

  • Terms of reference setting forth the criteria for assessing the implementation of the minimum standard
  • Methodology setting forth the procedural mechanism by which jurisdictions will complete the peer review—including the process for collecting the relevant data, the preparation and approval of reports, the outputs of the review and the follow-up process

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