Over the past two years, there has been a sea change in the level of tax cooperation throughout the world. This progress report represents an update on the work of the Global Forum to date. Based on the 59 reviews completed so far, this report together with its annexes shows a high level of cooperation and a good level of compliance, and identifies unresolved deficiencies. The peer review process examines the legal and regulatory framework of the member jurisdictions (Phase 1 reviews) and the actual implementation of the standard (Phase 2 reviews), and results in determinations which cover a wide scope regarding the availability of any relevant information in tax matters (ownership, accounting or bank information), the appropriate power for the administration to access the information and the administration’s capacity to deliver this information to any partner which requests it.