On 4 December 2017, the OECD has announced the release of the first peer review reports on individual jurisdictions' progress for the spontaneous exchange of tax rulings as per the minimum standard of BEPS Action 5. The report includes reviews of 44 jurisdictions, including all OECD members and all G20 countries. Four main elements are covered as part of the review, including:
- The information-gathering process - Involves assessing the processes in place in each of the jurisdictions for ide…