The government is warning that if the agreement on Mutual Administrative Assistance in Tax Matters is not ratified, the country is at risk of being included in the lists of non-cooperating countries.
The Guatemalan Ministry of Finance describes as "indispensable" the ratification by legislative of the Convention on Mutual Administrative Assistance in Tax Matters adopted by the Council of Europe and member countries of the Organization for Economic Co-operation and Development (OECD)
The asymmetry of investment flows makes the application of the concept of world income inevitably generates more revenue to the states of powerful economies than those of small ones.
In his opinion piece in Elfinancierocr.com, Manrique Blen points to the difficulties that countries with small economies face when they sign double taxation treaties, as, depending on the characteristics of the signed agreements, they can stop receiving tax revenues that they could have received had they not joined the treaty.
The OECD has included both countries in the list of countries that do not meet global standards on transparency in fiscal reporting.
Although the signing of the minimum number of bilateral tax information exchange agreements has allowed countries such as Costa Rica and Uruguay to leave the ‘gray list’ maintained by the Organization for Economic Cooperation and Development, now the challenge is to pass the scrutiny of filters detecting whether local regulations are effective in allowing tax information to be provided in a transparent manner.
The Latin American Economic Outlook 2009 will be presented on 28 October 2008 at the XVIII Iberoamerican Summit of San Salvador
Are Latin American governments maximising the potential of fiscal policy as a development tool? This 2009 edition of the annual OECD Latin American Economic Outlook analyses the progress governments in the region have achieved in the fiscal realm during the last decade.
The Latin American Economic Outlook 2009 will be presented on 28 October 2008 at the XVIII Iberoamerican Summit of San Salvador
Are Latin American governments maximising the potential of fiscal policy as a development tool? This 2009 edition of the annual OECD Latin American Economic Outlook analyses the progress governments in the region have achieved in the fiscal realm during the last decade.