Guatemala: commits to international exchange of tax information | WPN World People News

Guatemala has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters allowing it to be removed from the list of countries that have not yet substantially implemented the internationally agreed tax standard.

Guatemala is the second Central American country, after Costa Rica, to sign since the Convention was opened for signature to all countries in June 2011.

Signing the Convention, Guatemala’s Vice-Minister of Public Finance, Dorval Carias said, “This will enable our tax administration to engage in effective exchange of information with a growing number of countries including some of Guatemala's most important trading partners. It also strengthens our tax system and sends a clear signal to the international community that Guatemala is committed to joining the network of countries that collaborate to fight international tax evasion."

At the signing ceremony, OECD Deputy Secretary-General Richard Boucher congratulated Guatemala, saying “This demonstrates the country’s strong commitment to advancing the international tax agenda both within Guatemala and across Central America. Guatemala’s example will encourage other Central American countries to join in this important area of international co-operation.”

The Multilateral Convention, developed jointly by the OECD and the Council of Europe, is the most comprehensive multilateral instrument available for international tax co-operation and exchange of information. It provides a multilateral basis for a wide variety of administrative assistance, including information exchange on request, automatic exchange of information, simultaneous tax examinations and assistance in the collection of tax debts. A valuable tool for governments to fight offshore tax evasion, it also ensures compliance with national tax laws and respects the rights of taxpayers

Current signatories to the amended Convention are: Argentina, Australia, Belgium, Brazil, Canada, Colombia, Costa Rica, Czech Republic, Denmark, Finland, France, Georgia, Germany, Ghana, Greece, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Malta, Mexico, Moldova, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Russia, Slovenia, South Africa, Spain, Sweden, Turkey, Tunisia, Ukraine, United Kingdom, and United States.

Source: OECD