We celebrate the call for the first Latin American Summit
We celebrate the call for the first Latin American Summit for global, inclusive, sustainable and equitable taxation
We celebrate the call that the Colombian government makes in the DAVOS Forum calling for a Latin American Summit to achieve global, sustainable and equitable taxation. This is a historic milestone for Latin America.
Tax evasion in Latin America and the Caribbean is around 325 billion dollars, which is equivalent to 6.1% of regional GDP. In turn, the countries of the region lose 93,000 million dollars a year in terms of illicit financial flows, this is equivalent to 1.5% of Latin American GDP. The latest studies estimate that 27% of the wealth of Latin America is located in tax havens.
The Latam region needs a coordinated bloc to tackle global fiscal and climate challenges. The leadership that Colombia is playing is key, but the role that Chile, Brazil, Argentina and other countries in the region can play is also fundamental. Without regional cooperation, global tax agreements will continue to hurt countries in the Global South.
We will be following up on this initiative and collaborating with governments for a more democratic taxation and at the service of people and the planet.