LatinNews Daily Report - 07 December 2012

TAX | Guatemala off the OECD grey list. On 5 December Guatemala’s deputy minister of public finance, Dorval Carías, and Dónal Godfrey, of the Organisation for Economic Co-operation and Development (OECD), signed a Multilateral Convention on Mutual Administrative Assistance in Tax Matters. This allows Guatemala to be removed from the “grey” 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 the agreement since the Convention was opened for signature in June 2011. Carías said this “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." Developed jointly by the OECD and the Council of Europe, the Convention 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”.

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