Global Forum on Transparency and Exchange of Information for Tax Purposes

Through the Punta del Este Declaration, participating countries committed to:

• establish a Latin American Initiative to maximise the effective use of information exchanged under the international tax transparency standards to tackle tax evasion, corruption and other financial crimes, including through a Wider Use Pilot Project.
• explore further means of co-operation, through channels such as the Convention on Mutual Administrative Assistance in Tax Matters and the OECD’s Latin America Academy for Tax and Financial Crime Investigation, and effective and real-time access to beneficial ownership information.
• agree to establish National Action Plans to further co-operation objectives.

The Tax Transparency in Latin America progress report was first published in July 2021. As the first publication dedicated specifically to tax transparency in the region, it represents a key output of the Latin America Initiative.

The report is published annually to provide decision makers, stakeholders, and citizens with a clear and comprehensive overview of the region’s position on tax transparency, as well as the concrete progress achieved by Latin American countries. Through consistent annual updates, the publication supports accountability, informs policy discussions, and helps maintain political momentum for continued reform.

The Latin America Initiative operates under a governance framework led by a Chair and a Vice‑Chair. These roles are held by senior officials from a member country’s tax administration or ministry of finance and are appointed for a one‑year term.

The Latin America Initiative is open to any Latin American country member of the Global Forum and that endorses the Punta del Este Declaration. The 15 Latin American members of the Global Forum now endorse the Declaration.

Bolivia is an observer of the Initiative.

Six development and technical partners support the Latin America Initiative.

The capacity-building programme of the Global Forum Secretariat is funded by the following development partners, with specific contributions from the Spanish Agency for International Development Cooperation to the Latin America Initiative:

Through the Punta del Este Declaration, Latin American jcountries committed to strengthening the fight against illicit financial flows beyond tax evasion. This includes exploring how information exchanged under tax transparency frameworks can also be used to combat money laundering, corruption, and other financial crimes, in line with the Convention on Mutual Administrative Assistance in Tax Matters and domestic law.

To support this objective, the Latin America Initiative launched a pilot project and developed a Competent Authority Agreement (wider use MCAA) to enable interested countries to implement the wider use of treaty‑exchanged information in practice.

Status of the participation in the wider use pilot project and the related Competent Authority Agreement:

• Argentina: pilot joined in November 2022, wider use MCAA activated in August 2025
• Brazil: pilot joined in June 2023, wider use MCAA activated in November 2024
• Colombia: pilot joined in June 2023, wider use MCAA activated in November 2024
• Costa Rica: pilot joined in November 2022, wider use MCAA activated in November 2024
• Dominican Republic: pilot joined in November 2023, wider use MCAA signed in May 2024 (not yet activated)
• Paraguay: pilot joined in November 2022, wider use MCAA activated in November 2024
• Peru: pilot joined in May 2024, wider use MCAA activated in August 2025