Exchange of Information for Fiscal Purposes Applies in Paraguay
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Loading... - Morel Alan
- 24 Mar 2023
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Paraguay has introduced the Convention on Mutual Administrative Assistance in Tax Matters, MAAC, through Law No. 6656. As a result, the exchange of information came into force on Jan. 1, 2022, with a few exceptions. The exchange of information has been developing significantly worldwide, and Paraguay has joined a network of 146 countries that can request and receive information for fiscal purposes.
It is essential to consider the reservations Paraguay made to the convention to understand what type of information can be exchanged, and how. The OECD created the Global Forum on Transparency and Exchange of Information for Tax Purposes to coordinate efforts worldwide, and in 2010 designed an additional protocol to the original MAAC of 1988, allowing all countries to join the multilateral agreement whether or not they were Organization for Economic Cooperation and Development members. Read More…
