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News > Archived News > CIAT News > The Inter-American Develop Bank Hosts an International Taxation Seminar
Home | Use and Privacy Terms and Conditions | Site map | Contact Us | Frequently Asked Questions The Inter-American Develop Bank Hosts an International Taxation Seminar
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meeting of the
During the dates of August 29-30, the Inter-American Development Bank (IADB)
Tax Studies and
Object 1
hosted a seminar on International Taxation with the primary themes being the United States Foreign
Research Areas
Account Tax Compliance Act (FATCA) and information on taxation issues in Latin America and the
Network
Caribbean. The latter being captured in the recent IADB publication titled “More than Revenue” and in the CIAT, IADB, CAPTAC-DR, joint publication on the “State of Tax Administration in Latin America
CIAT organizes
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The 50th General
2006-2010.”
Assembly of The event took place at the IADB headquarters in Washington, DC and was co-sponsored by the IADB,
CIAT will take
US Treasury Department and Internal Revenue Service (IRS), and CIAT. In attendance were over 50
place in Mexico
senior tax administration, ministry of finance and government banking officials from Latin America and the
on April 25 to 28,
Caribbean. Among CIAT member countries, present were the Director Generals from Barbados,
2016
Colombia, Costa Rica, Surinam and other officials.
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The Tax Administration of
On the first day, US Treasury Department and IRS officials made detailed presentations on FATCA-
Suriname
related issues. Ms. Danielle E. Rolfes, International Tax
Receives Technical
Counsel, provided information on the US law, as well as, required actions by the involved foreign finance
Assistance from
institutions. (The statute goes into effect on July 1, 2014.) A significant amount of time was allocated to
CIAT on risk
options exercised by some governments to enter into an Intergovernmental Agreement (IGA) with the US.
Management
These agreements would be in the nature of an automatic exchange agreement and would required
•
Tax
financial institutions reporting directly to their governments rather than to the US IRS. The countries would
Administrations
in turn exchange this information automatically with the US IRS.
of the world meet to discuss
Regarding the administration of these agreements, Mr. Michael Danilack, IRS Deputy Commissioner
access to
(International), made an excellent presentation on how these complex agreements would be executed
information
and administered. Both the financial institution agreements as well as the intergovernmental automatic
sources to
exchange agreements require detailed planning and certain levels of IT systems sophistication.
improve compliance and
A discussion panel followed these presentations where Brazil, Chile, and Mexico spoke on their actions to
prevent tax
enter into intergovernmental agreements with the US and actions being taken by financial institutions in their countries.
evasion •• Mobile Version
The second day of the seminar were dedicated to presentations on Latin American tax issues and the previously cited publications. Presentations were made by Alberto Barreix from the IADB and Socorro Velazquez from CIAT.
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