From November 20 to 22, 2018, the Eleventh Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes was held in the city of Punta del Este, Uruguay. The main developments concerning the automatic exchange of information and on-request exchange of information were examined. Proposals to intensify the level of cooperation in the future and results also were discussed.

The Executive Secretariat participated, sharing his views on the challenges of tax administrations to achieve results as a product of greater transparency and cooperation actions.

Moreover, in the context of that meeting, on November 19 the Ministry of Economy and Finance of Uruguay organized, along with the OECD, a dialogue with ministers, representatives and senior officials from Latin America whose purpose was to discuss actions to strengthen the regional efforts to combat tax evasion and corruption. The CIAT, the IDB and the World Bank also participated actively in that meeting. It concluded with the signing of the Declaration of Punta del Este in which the representatives of Uruguay, Argentina, Panama and Paraguay agreed:

• To establish a Latin American initiative to maximize the effective use of information exchanged under the international standards of tax transparency in order to tackle tax evasion, corruption and other financial crimes.
• To explore other means of cooperation, including the possibility of making wider use of information provided through channels to exchange tax information for other purposes of law enforcement, as permitted under the Multilateral Convention on Mutual Administrative Assistance in Fiscal Matters, and effective real-time access to information of beneficial ownership.
• To establish national action plans to promote the cooperation objectives and have representatives to report on progress at the next plenary meeting of the Global Forum.

1,141 total views, 1 views today