Guatemala Wants Out of OECD’s Grey-List

The country has exchanged texts with seven countries to sign double taxation agreements.

Tuesday, April 13, 2010

Additionally, the Public Finances Ministry has invited Pascal Saint-Amans, head of the Tax Transparency Forum at the Organization for Economic Cooperation and Development (OECD), to visit the country.

Ricardo Barrientos, Finance vice minister, remarked that efforts are being done to get out of the tax-haven gray list. He added they are working with Congress to pass reforms to eliminate banking secrecy and bearer shares in corporations.

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Fiscal Transparency Project in Costa Rica

April 2010

Pressured by OECD, the Government of Costa Rica is taking steps to update its regulations in order to comply with international standards.

A bill presented in the legislative introduces changes to enable tax information sharing with other nations.

“With the reform, tax authorities may demand information on economic transactions from more entities, not just banks”, reported Univision.com.

Tax Pressure in Central America

November 2012

In 2010, when looking at total tax revenue as a percentage of GDP, Costa Rica has the highest ratio in Central America, and ranked fourth in Latin America, behind only Argentina, Brazil and Uruguay.

The study on Tax Statistics in Latin America, by the Organization for Economic Cooperation and Development (OECD), notes that while the ratio of tax revenue to GDP has been growing in Latin American countries, the average of the so called "tax pressure" is still below the average for countries who are members of the OECD.

Panama and Italy Close Tax Agreement Negotiations

December 2009

Panama concluded negotiations for a double taxation agreement with Italy.

The agreement between both countries will be signed very soon, stated Frank de Lima, Panamanian vice minister of Economy.

"So far, there have been three negotiating rounds between delegations from both countries.

IDB Loans $200 Million for Salvadoran Tax System

February 2010

The fiscal strengthening program seeks to increase the Salvadoran treasury’s balance and protect those resources earmarked for social programs.

It will be implemented by the Salvadoran Treasury Ministry over the next two years, and is composed of various elements, among them macroeconomic stability, tax reform, greater efficiency in tax and customs management and better use of subsidies.

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