AUTOMATIC EXCHANGE OF FINANCIAL INFORMATION BETWEEN COUNTRIES AND ITS IMPLEMENTATION IN HONDURAS

Abstract

The Automatic Exchange of Information (AEOI) represents an essential pillar in the global fight against tax evasion and the promotion of fiscal transparency. In this context, Honduras faces significant challenges due to the absence of a robust legal framework that supports the effective implementation of the AEOI. Currently, the country is not legally equipped to adopt the AEOI regulations efficiently, which places it at a disadvantage compared to other Central American nations that have made progress in aligning themselves with the international standards proposed by the OECD. The lack of adequate legislation prevents Honduras from even considering the implementation of the AEOI, leaving the country vulnerable to tax evasion and limiting its capacity for international cooperation in tax matters.

Despite some efforts, such as the tax reform project that includes key elements such as the Beneficial Ownership Law, the ratification of the MAAC, the elimination of bank secrecy and the elimination of bearer shares, these are still in the process of discussion and approval in the National Congress contained in the Tax Justice Law. Honduras must intensify its reinforcements to create a legal and technical environment that allows the adoption of the AEOI, which would include the modernization of its technological infrastructure for the safe and effective exchange of tax information. Until these changes are implemented, Honduras will continue to face significant challenges in compliance with international tax regulations, falling behind in the race for transparency and global tax justice.