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The new transparent taxes in Latin America and the Caribbean

Feb 12, 2018

The newest tax transparency standards are evolving all over the world. In the early 2018, the UN ECLAC (United Nations Economic Commission for Latin America and the Caribbean) celebrated its 70th anniversary. What happened and how business conditions will change in this region? We will analyze the newest tendencies and explain how business will develop in LatAm and the Caribbean.

The reputation is a crucial factor for international business jurisdictions, therefore implementing legislation that prevents money laundering and tax evasion, is a paramount for the governments. During the seminar that was dedicated to the anniversary, ECLAC representative stated that the new transparency policy is a way to develop and strengthen democracy and public economy.

What are the main functions of ECLAC? First of all, this UN commission is created specifically for the Latin America and the Caribbean region. This means that its representatives are aware of the problems of the region and are ready to solve them. For now, technological transformations and new business standards challenge governments to change tax policies.

During the seminar, the executive secretaries from 1972 until now delivered speeches about the future of ECLAC. New values of tax policy mean fighting tax evasion, money laundering and dealing with illicit capital flows. There will be no more privileged businesses, which still function in Latin America and the Caribbean. Equality and transparency will become the most important strategic objectives for development.

Every speaker emphasized that ECLAC needs to adopt changes of the new technologies, accept society changes and start changing economy according to the demand of the new world. Accommodation and adaptation can lead Latin America and the Caribbean to become very prospective business jurisdictions.

We, professional analysts and consultants of the Offshorelicense Ltd, hold our hands on the pulse of every change. Are you thinking of starting business in Caribbean or in any of the LatAm countries? Our everyday work consists of helping you to choose the best jurisdiction and business entity to make your business effective.

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