OECD publishes new BEPS Action 5 peer review findings

The OECD Forum on Harmful Tax Practices applied its revised BEPS Action 5 peer review methodology for the first time at its May 2026 meeting, reaching conclusions on 13 preferential tax regimes: seven deemed not harmful and six kept under review.

The OECD has released the latest peer review results on preferential tax regimes under BEPS Action 5, incorporating new conclusions on 13 tax regimes reviewed during the Forum on Harmful Tax Practices (FHTP) meeting held in May 2026.

The latest peer review results on preferential tax regimes highlight jurisdictions’ continued efforts to address harmful tax practices through the implementation of the BEPS Action 5 minimum standard.

At its 65th meeting held in May 2026, the OECD Forum on Harmful Tax Practices (FHTP) applied for the first time the revised BEPS Action 5 peer review methodology. Under this approach, regimes are first subject to a BEPS impact assessment to determine whether a full legislative review is needed or whether the BEPS impact is expected to be low.

The FHTP reached new conclusions on 13 regimes. For seven regimes (one from Azerbaijan, four from Fiji, one from Japan, and one from Peru), a conclusion of “not harmful” was reached, and for six regimes (three from Azerbaijan, one from Malaysia, one from Peru, and one from Serbia), it was concluded that the regimes would be kept “under review”.

The total number of regimes reviewed by the FHTP since the start of the BEPS Project is now 347, with over 40% of those regimes being (or in the process of being) abolished.

New regime results – FHTP May 2026 meeting 

The table below presents the status of the review of preferential regimes from the FHTP meeting in May 2026 and includes comments that support FHTP’s conclusions in respect of the status of each regime.