Latin American Tax Information Agreement Sought

The project aims to encourage information sharing in order to strengthen measures to prevent money laundering by the drug trade.

Friday, April 8, 2011

Argentina's tax authority (AFIP in Spanish), proposed that a multi-lateral tax information agreement be implemented, which could be adopted by Central American countries and others in Latin America, if it is approved by the Inter-American Tax Administration Center (CIAT in Spanish).

According to, AFIP head, Ricardo Echegaray explained that, "once the document is approved by CIAT, all signing countries will cooperate with each, avoiding the need for individual bilateral agreements".

More on this topic

Banking Transactions: More Controls in Panama

April 2019

From May 2019, foreign customers will have to declare to local system banks that their funds meet their country's tax requirements.

The Superintendence of Banks of Panama (SBP) approved Agreement 02-2019, which implements the recommendations of the Financial Action Task Force, which consists of expanding the required due diligence measures of banks with their customers.

Exchange of Tax Information Panama - Uruguay

May 2018

In addition to the agreement that will allow the exchange of financial and tax information, both countries decided to remove each of them from the lists of nations that do not promote transparency.

From a statement issued by the Ministry of Economy and Finance in Panama:

Colombia and Panama Announce Tax Information Agreement

April 2016

The treaty to avoid double taxation will come into force in 2018 and includes a clause for exchanging tax information upon request, in accordance with OECD standards.

Ending a story that began two years ago when Colombia suggested including Panama on its list of tax havens, the government has finalised negotiations and announced that the treaty to avoid double taxation will be signed by presidents Santos and Varela in June this year and will take effect automatically in 2018.

El Salvador Signs OECD Agreement Against Tax Evasion

June 2015

The agreement signed with the Organization for Economic Cooperation and Development implies limitations on banking secrecy, and an obligation to exchange tax information.

From a statement issued by the OECD:

El Salvador joins international efforts to combat international tax evasion

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