06/06/25
LATIN AMERICA: Latin American countries report tangible gains from tax transparency efforts in 2024
As published on: web-archive.oecd.org, Friday 6 June, 2025.
A regional initiative to strengthen international tax co-operation across Latin America is producing results in the global fight to tackle tax evasion and illicit financial flows, with EUR 585 million additional revenues identified in 2024, according to the new progress report on tax transparency in Latin America.
The latest Tax Transparency in Latin America 2025 report, launched today by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) during its 12th Latin America Initiative Meeting in Salvador de Bahia, Brazil, provides a detailed picture of how the Latin America Initiative is promoting the effective implementation of international tax transparency standards across the region and contributing to mobilising domestic resources.
The report highlights the progress in tax transparency achieved by the 15 Latin American members of the Global Forum, all of whom participate in the Latin America Initiative, a regional effort launched in 2018 with the signing of the ministerial Punta Del Este Declaration. It shows that in 2024, Latin American members reported the identification of at least EUR 94 million through exchange of information on request (EOIR) and offshore investigations, and around EUR 491 million through automatic exchange of financial account information, including related voluntary disclosure programmes. In total, since 2009, at least EUR 28.4 billion in additional revenue (tax, interest and penalties) have been identified in Latin America through the implementation and use of the international tax transparency standards, with further progress expected to continue in the years ahead.
Speaking at the event, Ms Adriana Gomes Rego, Chair of the Latin America Initiative and Deputy Special Secretary of the Federal Revenue Service of Brazil, said, "Latin American members have made remarkable strides in tax transparency in 2024, demonstrating their dedication to the objectives of the Punta del Este Declaration. The progress achieved reflects both the region’s strong commitment and the varying levels of tax transparency implementation among members. Despite ongoing challenges, the Latin America Initiative remains steadfast in its mission to unlock the full potential of tax transparency in the region to strengthen further the fight against tax evasion and other illicit financial flows, foster fairer tax systems, and mobilise essential revenue to support vital public policies for the benefit of our citizens."
Major recent advances set out in the report include:
- Through the Convention on Mutual Administrative Assistance in Tax Matters (MAAC), Latin American countries have entered into more than 2000 bilateral relationships for exchange of information (EOI) to foster tax co-operation, and the vast majority of them have an exchange of information network covering over 140 jurisdictions.
- 11 Latin American countries are committed to start automatic exchanges of financial account information by 2026, and 10 had already started exchanging at the end of 2024.
- 10 Latin American countries fully reviewed in the Second Round of EOIR peer reviews received a satisfactory rating ("Compliant" or "Largely compliant").
- 4 Latin American countries have already committed to implement the Crypto-Assets Reporting Framework (CARF) by 2027 or 2028.
- 7 Latin American members have joined a Pilot Project to explore the possibility of using information exchanged under tax treaties for wider purposes, including to tackle other IFFs, such as corruption, money laundering, terrorist financing and customs matters. In 2024, 6 Pilot Project members signed a competent authority agreement to implement in practice this extended form of cooperation, which is now already in effect for 4 of them.
Tax Transparency in Latin America 2025 is a flagship publication of the Latin America Initiative, a regional effort launched in 2018 with the signing of the ministerial Punta Del Este Declaration to promote the implementation and effective use of international tax transparency standards tailored to the priorities of Latin American countries. Its release marks a key milestone of the 12th Latin America Initiative Meeting, held from 3 to 4 June 2025 in Brazil, and co-organised by the Federal Revenue Service of Brazil and the Global Forum Secretariat.
With 171 members, the Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.
For more information and to access the full report, visit: https://www.oecd.org/tax/transparency/documents/tax-transparency-in-latin-america-2025.htm
For more information, please contact Ms Zayda Manatta, Head of the Global Forum Secretariat, zayda.manatta@oecd.org or ctp.communications@oecd.org.
The Global Forum’s worldwide capacity-building programme is supported by the following development partners:
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