At the Latin American Initiative meeting in Lima, Peru, the OECD dropped its latest 2026 tax transparency report. The numbers speak volumes: thanks to the Automatic Exchange of Information (AEOI/CRS) and voluntary disclosure schemes, regional tax authorities successfully recovered over €576 million.
Key takeaways from the report:
Offshore accounts are fully visible. Tax authorities worldwide have gotten highly efficient at cross-referencing foreign bank data with domestic tax returns.
Beneficial owners (UBOs) are under the microscope. The OECD explicitly stated that Latin American countries need to tighten the screws on beneficial ownership registries. This means shell companies and nominal setups without real substance will be the first to face audits.
A Quick Take from FBS Experts: Latin America is just a case study here—the exact same shift is happening across Europe and Asia. The days of opening an offshore account and keeping it completely off the radar are gone. Tax authorities see more than ever, and sitting on non-compliant structures will inevitably lead to massive fines. The only way to protect your capital today is through clean, transparent, and compliant structuring.
If you hold foreign assets or offshore companies and want to check your tax exposure, drop us a line. The FBS team will audit your current setup and help you find safe, legal ways to protect your business.