Mazars BEPS & international tax newsletter n°2 – March 2021

This second edition covers new measures published in March 2021 by the OECD, the EU, the United Nations, and 32 countries: Argentina, Bahrain, Bulgaria, Chile, China, Costa Rica, Curacao, Cyprus, Dominican Republic, Germany, Ghana, Greece, Hungary, India, Ireland, Israel, Italy, Liechtenstein, Luxembourg, Netherlands, Qatar, Romania, Russia, Saudi Arabia, Rwanda, Spain, Switzerland, Thailand, Ukraine, United Kingdom, United States, Vietnam.

The G20/OECD Inclusive Framework on BEPS has published the new transparency framework for the peer review of the BEPS Action 5 transparency framework for the years 2021-2025. Overall, the transparency framework remains similar to the previous one covering the years 2017-2020.

The framework has two main sections:

• The terms of reference ;
• the methodology for conducting peer reviews.

By the end of 2021, the OECD plans to publish the fifth annual peer review report, covering jurisdictions for the calendar year 2020. The report is expected to include country-specific recommendations for improvement and will be adopted within the updated transparency framework.