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Paraguay Joins Global Tax Transparency Forum

by Mike Godfrey, Tax-News.com, Washington

17 June 2016


Paraguay has become the 134th jurisdiction to join the Global Forum on Transparency and Exchange of Information for Tax Purposes, according to a statement from the Organisation for Economic Cooperation and Development (OECD).

"Paraguay is proud and delighted to join the international community in the fight against tax avoidance and evasion," Santiago Peña Palacios, the Finance Minister of Paraguay, said. "We are looking forward to working closely with all members of the Global Forum as well as the Global Forum Secretariat to reach our goals in implementing the standards on exchange of information on request and automatic exchange of financial account information."

The Global Forum's aim is to ensure that all jurisdictions adhere to the same high standard of international co-operation in tax matters. This is done through a monitoring and peer review process which Paraguay will also be subject to.

Kosie Louw, Chair of the Global Forum, said: "I am happy that the membership of the Global Forum continues to expand on a regular basis highlighting the importance placed by the international community on tax transparency and the resolve of Governments to come together to fight and prevent tax evasion and avoidance."

TAGS: compliance | Finance | tax | tax information exchange agreement (TIEA) | tax compliance | Paraguay | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | agreements | standards | Tax | Tax Evasion

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