Uruguay

This report contains the 2014 'Phase 2: Implementation of the Standards in Practice' Global Forum review of Uruguay. The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing. The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention. The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. 'Fishing expeditions' are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard. All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.

Uruguay has made remarkable progress over the past decade. Stable macroeconomic policies and a favourable external environment have permitted brisk growth and the financing of social policies. Substantial improvements in several dimensions of human well-being have occurred during this period, alongside considerable reductions in external risks. The conditions ahead, however, may present challenges to maintaining performance. Overcoming these challenges will require finding the appropriate balance between long run objectives and macroeconomic and fiscal stability. One of the main obstacles to economic growth is the insufficient and inadequate provision of human capital and skills. A number of challenges remain for education, which, together with fiscal policy, are key means of reducing inequalities and sustaining economic growth. In addition, Uruguay needs to address labour shortages to avoid constraints on future growth, especially as exports become more skills-intensive. It is important to orient social policies and expenditures towards the most vulnerable groups.

This publication contains the Supplementary Phase 1 Peer Review Report for Uruguay.

L’Accord sur l’agriculture du cycle d’Uruguay (AACU) représente un tournant dans la réforme du système commercial agricole. Il impose des disciplines aux politiques internes qui créent des distorsions commerciales et établit de nouvelles règles dans les domaines de l’accès au marché et de la concurrence à l’exportation. Dans quelle mesure les trois disciplines contenues dans l’AACU ont-elles permis de réduire le niveau de la protection et du soutien lié à la production? Quels éléments des disciplines se sont avérés efficaces et quels sont ceux qui sont apparus inefficaces ? Quelles leçons peut-on en tirer pour les politiques ? Enfin, quelles en sont les implications pour la poursuite de la libéralisation des échanges en termes d’opportunités et de défis ? Cet ouvrage apporte un certain nombre de réponses à ces questions pour tous les pays de l’OCDE. Cette étude parvient à une conclusion importante : les effets quantitatifs immédiats de l’AACU sur les niveaux d’échanges et de protection ont été modestes. Ce phénomène s’explique notamment par les nombreuses faiblesses de l’AACU, en particulier dans des domaines bien spécifiques tels que la mise en oeuvre et la méthodologie. Les pays ont déjà démarré un nouveau cycle de négociations commerciales multilatérales sur l’agriculture. Pour les décideurs publics, le défi sera maintenant de s’appuyer sur les fondations de l’AACU pour continuer à réduire les distorsions commerciales. Il est pour cela nécessaire de renforcer les disciplines déjà établies dans le cadre de l’AACU et de s’attaquer aux faiblesses de l’accord actuel identifiées dans cette étude.