AFTER the recent G20 Summit, Uruguay was named as one of the few errant
tax havens. But the OECD has now come out with a statement that Uruguay has
signed 7 new agreements providing for the exchange of tax information, showing
its willingness to implement the global standards. This brings to a total of 181
the number of agreements Uruguay has with other countries, allowing it to move
up to the OECD’s list of those that have ‘substantially implemented the standard
for exchange of information’.
Uruguay’s actions follow the progress
report delivered by the Global Forum on Tax Transparency and Exchange of
Information to the Cannes G20 Summit, which suggested that Uruguay still had to
address a number of issues for the effective exchange of
information.
“The signing of these new agreements shows that Uruguay is
committed to moving quickly towards full transparency and effective information
exchange,” said OECD Secretary-General Angel Gurría. “I congratulate the
government for swiftly acting on one of the Global Forum’s recommendations and
encourage it to fully implement the global standard.”
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