Peru moves forward in tax evasion fight

Peru takes one step further in the eradication of tax avoidance and evasion after signing the Convention on Mutual Administrative Assistance in Tax Matters with the Organisation for Economic Co-operation and Development (OECD).

Deputy Director of the OECD‘s Centre for Tax Policy and Administration Grace Perez-Navarro affirmed these two crimes are associated with money laundering and corruption.

“Peru is taking another step to combat tax avoidance and evasion after signing this agreement,” she stated.

In this sense, the Convention on Mutual Administrative Assistance in Tax Matters will allow the Andean nation to exchange financial and tax information with more than 100 countries.

According to Peru’s Economy and Finance Minister Claudia Cooper, “the signing is part of a long process in which Peru has been involved in order to join the OECD.

” Likewise, she pointed out its implementation will give the South American nation the opportunity to improve competitiveness in the long term.

Within this framework, the Inca nation joins a list of countries that have undertaken policies based on international transparency to fight against tax avoidance and evasion.

This group includes the United States, Argentina, Colombia, Mexico, Panama, Spain, Switzerland, Portugal, Italy, and France, among others.

Moreover, Prime Minister Mercedes Araoz highlighted Peru is “on the right track,” and the signing of this agreement enables the Inca nation to outline new parameters for its fight against tax evasion.

Nevertheless, some logistic adjustments should be made, she suggested.

“We are firmly committed to the fight against bad practices witnessed around the world,” the cabinet chief concluded.