Since July 17, the agreement between the Dominican Republic and the United States for the exchange of information on reportable bank accounts entered into force.
Dominican financial institutions must identify the accounts of individuals, legal entities or other specialized entities such as U.S. trusts, to submit relevant information to the U.S. Internal Revenue Service (IRS), breaking down their movements, accounts, receipts and other operations, informed the government of the Dominican Republic.
In its next evaluation, the OECD could lower Guatemala's rating, because in August last year access to bank information with a court order was suspended, which could lead to an increase in the credit price.
The urgency to pass the tax reform, among other things, has taken center stage in the government's agenda of issues.
The removal from the list of countries classified as tax havens, and the priority that the government has given other issues has meant that the discussion and approval of the Law on Fiscal Standards and Transparency, which contemplates the possibility of lifting the secrecy in banking in certain cases has been relegated.