Paraguay has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes as its 134th member. Its membership signals its commitment to implement the international standard of exchange of information on request and work towards a practicable timeframe to implement the standard of automatic exchange of financial account information.
"Paraguay is proud and delighted to join the international community in the fight against tax avoidance and evasion", said Santiago Peña Palacios, Finance Minister of Paraguay. "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 robust monitoring and peer review process which Paraguay will also be subject to.
Kosie Louw, Chair of the Global Forum while welcoming the membership of Paraguay, 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."
Bron: OECD
0