The Guatemalan government has adopted the Convention on Mutual Administrative Assistance in Tax Matters in a move to demonstrate its commitment to tax transparency and remove itself from a “blacklist” of international tax havens.
Once it takes the necessary legislative steps to implement the OECD programs, Guatemala will be able to exchange information with any of the 110 partner jurisdictions that have also adopted the Convention – including those engaged in the Common Reporting Standard. The Convention provides the foundation for Guatemala to enter into bilateral negotiations and agreements with other AEOI countries.
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About the Author
Tom Hospod is a member of the Tax Research Team for the Direct Tax division at Sovos Compliance, where his main areas of focus are Tax Withholding and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. He also has experience in securities law—focusing on broker-dealer disputes and representing clients in FINRA arbitration. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.More Content by Tom Hospod