Honduras Signs Up To Tax Transparency Standards
by Ulrika Lomas, Lowtax.net, Brussels
02 September, 2019
The Government of Honduras on August 8, 2019, announced that it has begun the process of seeking membership of the Global Forum on Transparency and Exchange of Tax Information.
The country has said it will commit to implementing international best standards in the area of tax transparency and information exchange in joining the OECD's Global Forum.
The Common Reporting Standard is the OECD's new tax transparency standard that provides for the automatic exchange of information between countries to support efforts to tackle fiscal crime. It replaced exchange of information on request.
As a member of the Global Forum, Honduras's framework for the exchange of information on request will be rigorously peer reviewed. This peer review will involve two phases: Phase 1 examines the legal and regulatory framework, and Phase 2 looks into the implementation of this framework in practice.
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