Uruguay’s Chamber of Senators approved a tax information exchange agreement with the US on 7 August 2024.
Signed on 24 October 2023, this marks the first agreement of its kind between the two nations. It aims to enhance cooperation in tax matters by facilitating the exchange of relevant information between their respective authorities.
This agreement is expected to strengthen tax compliance and combat tax evasion between Uruguay and the United States, reflecting a growing trend of international cooperation in tax matters.
A tax information exchange agreement (TIEA) allows the competent authorities of the United States and the TIEA partner to exchange information on tax matters in order to provide assistance to each other in the administration and enforcement of domestic tax laws.
