The OECD has released the second peer review report assessing countries’ efforts to implement the Action 6 minimum standard as agreed under the OECD/G20 Base Erosion Profit Shifting (BEPS) Project. The report on the implementation of the Action 6 minimum standard on treaty shopping reveals that a large majority of members of the OECD/G20 Inclusive Framework on BEPS (IF) are translating their commitment on treaty shopping into actions and are modifying their treaty network.

The report includes the aggregate results of the peer review and data on tax treaties concluded by each of the 129 jurisdictions that were IF members on 30 June 2019. The report recognises the substantial progress that jurisdictions have made towards the implementation of the minimum standard.

The results of the peer review show that the Multilateral Instrument (MLI) has been the tool used by many jurisdictions that have begun to implement the minimum standard.