The OECD has published the “Tax Transparency in Latin America 2025” report, showcasing progress in regional efforts to enhance tax transparency and combat tax evasion and illicit financial flows in Latin America.
The OECD has announced the publication of the Tax Transparency in Latin America 2025: Progress Report on 3 June 2025, highlighting progress in strengthening tax transparency cooperation among Latin American countries to combat tax evasion and illicit financial flows.
Tax Transparency in Latin America 2025 is a key output of the Latin America Initiative, a regional programme launched in 2018 with the signing of the ministerial Punta del Este Declaration.
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.
This Initiative is focused on developing tailored solutions to support the effective implementation of the tax transparency standards across Latin America and their use to fight tax evasion and other forms of illicit financial flows. The Latin America Initiative currently includes the 15 Latin American members of the Global Forum and six partners, with Latin American countries benefiting from regional capacity-building efforts that are continuing to expand. Through political commitment and technical collaboration, the Initiative has emerged as a key platform for peer learning, capacity building and joint action.
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.
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.
