OECD Revises Tax Ruling Information Sharing Standards

The OECD on Monday updated its baseline standard for how governments should share information following tax rulings.

Among the updates the Organization for Economic Cooperation and Development made to its tax ruling information exchange standards include a revised peer review methodology that will enter into force next year and a new XML format, which will be mandatory for filings after Jan. 1, 2027.

The standard, known as BEPS 5, is meant to promote transparency and covers developments like preferential tax regimes, downward profit adjustments and rulings regarding permanent establishments, among others.

• The revisions were published after a ...