Honduras, Ecuador Sign Tax Agreement
August 5 — Honduras signed an agreement with Ecuador on mutual administrative assistance and cooperation and the exchange of tax information, the Honduran Ministry of Foreign Affairs and International Cooperation announced on July 31.
The agreement was signed in the Honduran capital Tegucigalpa by Miriam Estela Guzman, the head of the country’s Executive Directorate of Revenue, and Ximena Amoroso, the director general of Ecuador’s Internal Revenue Service.
The agreement provides for cooperation and information exchange in all its forms, including general information on economic activity, audits, examinations abroad in order to prevent and combat fraud, tax evasion and tax avoidance, as well as establishing the best sources of information in tax matters.
Under the provisions of the agreement, the two countries have committed to the establishment and maintenance of expeditious channels of communication between the tax administrations to facilitate the rapid exchange of information. Furthermore, both signatories have committed to promoting the implementation of an interconnected computer system that facilitates online data exchange.
The agreement also includes a framework on coordinated efforts to share experiences and solutions regarding the application of tax laws.
