Category: Paraguay
Paraguay introduces transfer pricing rules
Paraguay, on September 13, enacted special regulations providing for the transfer pricing analysis of intercompany transactions. ... - Continue reading
Argentina, Panama, Paraguay and Uruguay to share tax information with each other
The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
Argentina, Panama, Paraguay and Uruguay to share tax information with each other
The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
OECD to report on countries’ non-compliance in tax transparency
At the recent G20 meeting in China, finance ministers stressed their support for greater tax transparency, calling for a report from the OECD on the implementation of automatic exchange of information before the end of the year, and stating that by July 2017 it wants a list of non-compliant jurisdictions… – Continue reading
20 Caribbean, Latin American Nations Named Major Money Laundering Countries
Twenty Caribbean and Latin American nations have been named by the U.S. as “major money laundering” countries in the 2016 International Narcotics Control Strategy Report (INCSR) from the U.S. State Department released Wednesday, Mar. 2, 2016. A major money laundering is defined by statute as one “whose financial institutions engage… – Continue reading
Arab League intent on increasing investments in Brazil
The organization’s new ambassador in the Brazilian capital Brasília claims trade and mutual investment between Arab countries and Brazil can be worked on. São Paulo – Newly appointed to represent the Middle East and North Africa countries in Brazil, the ambassador of the League of Arab States in the national… – Continue reading
Australia out of step with global corporate tax rate trends
Australia’s corporate tax rate is higher than the global average, according to KPMG’s 2015 global tax rate survey, SmartCompany reports. While Australia’s corporate tax rate currently sits at 30 per cent, the global average sits at 23.68 per cent. The United States has the highest corporate tax rate at 40… – Continue reading
South American Soccer in Financial Crisis After Arrests
The head of South American soccer, who skipped most of the region’s top competition, said he was forced to stay away from the Copa America to deal with the fallout from turmoil in the sport’s global governing body. Juan Angel Napout, in his first English-language interview since the FIFA scandal… – Continue reading
Chilean Mining Firm Investigated for Tax Evasion, Illegal Donations
Bachelet and Piñera Governments Linked to Latest Corruption Scandal High profile corruption scandals in Chile continue to pile up, implicating both the governing and opposition coalitions parties, and even reaching as high as the office of President Michelle Bachelet. On Thursday, April 2, the Chilean Internal Tax Service (SII) filed… – Continue reading
Tax Evasion by Transnational Companies Affects Paraguayan Economy
Asuncion, Mar 22 (Prensa Latina) The volume of tax evasion of transnational companies based in Paraguay is even higher than drug trafficking, said economist Verónica Serafini, who calculated that the profits achieved by foreign investors in 2012 reached billions of dollars, however the country did not receive tax contributions of… – Continue reading
Costa Rica submits to money laundering probe by Latin America task force
Costa Rica’s going under the magnifying glass for the next two weeks as international money laundering experts comb through the country’s books. President Luis Guillermo Solís declared the audit from the Financial Action Task Force of Latin America (GAFILAT) a subject of national interest in Monday’s edition of the official… – Continue reading
LatAm: corruption, tax evasion fuel inequality
These crimes hinder the development of societies, prevent strengthening the legitimacy of democracy SANTIAGO — Corruption and tax evasion are flagrant violations of human rights in Latin America, where they contribute to inequality and injustice in the countries of the region, according to studies and experts consulted by IPS. “Tax… – Continue reading
101 Countries Sign Up For FATCA Network
Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network. So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA. FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments. Overseas… – Continue reading
