U.S. and Mexico sign agreement to stop tax evasion

$50 billion dollars leave the country each year

A signed agreement between the United States and Mexico to help stop tax evasion was announced this Tuesday, which negotiations for this agreement lasted for two years and now has been finally signed by representatives of both countries in Washington on Monday.

According to a statement released to the media by the U.S. Department of the Treasury, "Both sides agreed to improve the mechanisms for verifying the exchange of banking and financial information of those who file their tax returns." More information about the matter was not disclosed.

Before becoming the Director of the Central Bank of Mexico, former Finance Minister Agustin Carstens asked the U.S. to share information with Mexico, to stop those who evade tax authorities in the country.

It is estimated that in one year about $ 50 billion dollars leave Mexico illegally due to tax evasion.


Translation : Omar.Martinez@sandiegored.com


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