Uruguay to Exchange Tax Information with Argentina

On 1 May 2012 it was reported that Uruguay has agreed to share tax information with Argentina, under a landmark double tax agreement recently signed between the two nations.

Uruguay’s economy minister, Fernando Lorenzo has said that the terms of the agreement negotiated are positive for Uruguay. Argentina agreed to drop its request that the agreement’s tax information exchange provisions should have retrospective application, and the agreement also contains provisions for the avoidance of double taxation.

The agreement will be limited to transactions that have occurred following the effective date.