Aruba signs MOU for information exchange
By Anika in Free Zone Aruba News, Members on 14. Nov, 2014No Comments
Minister Plenipotentiary of Aruba in the Netherlands, Mr. Alfonso Boekhoudt signed a Memorandum of Understanding (MOU) on behalf of Finance Minister Angel Bermudez in Berlin, Germany. This MOU is signed along with 50 other countries, including Colombia, Brazil, the United States and the Netherlands to automate exchange of tax information. The MOU was signed during a meeting of the Organization for Economic Co-operation and Development (OECD) in the German capital.
By signing this agreement Aruba is now part of the so-called Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information. The participating countries must now develop their agreements for the exchange of tax information.
The exchange of information is globally considered as an effective measure against tax evasion. Minister Bermudez: “Signing of this statement ensures that companies are positive about doing business with Aruba. It decreases Aruba’s chances to become blacklisted” according to the Minister.