Uruguay Commits to OECD Tax Information Exchange Standards
The OECD today welcomed the formal endorsement by Uruguay of its tax information exchange standards.
According to a release from the Paris-based organization, Uruguay’s Finance Minister, Alvaro García, informed the OECD by way of a letter to Secretary-General Angel Gurría that Uruguay formally endorses the OECD’s standards on transparency and exchange of information – as set out in the 2005 version of Article 26 of the OECD Model Tax Convention. The Finance Minister also confirmed that Uruguay is incorporating this standard in the treaties it currently is negotiating and in future agreements. Uruguay expects to submit one or more of these agreements for ratification later this year.
*“I am pleased that Uruguay is joining a growing number of nations willing to cooperate in fighting tax evasion and other tax abuses,”* said Mr. Gurría. Yesterday, following the release of the G20 London 2009 Summit, the OECD had included Uruguay in a list of jurisdictions that have not committed to the internationally agreed tax standard.