Castellán

As reported in the press, the current government would be evaluating a "roadmap" to move in that direction, considering how a closer relationship with the OECD could help improve the country's international integration, strengthen public policies, generate greater confidence and investment, although it would also imply new responsibilities.

 

What is the OECD?

 

The Organisation for Economic Co-operation and Development (OECD) is an international organization created over 60 years ago, currently composed of 38 countries. Its mission is to promote economic development through the coordination of economic and social policies, the promotion of education, the fight against international tax evasion, and the establishment of global standards accompanied by implementation mechanisms.

 

What does being a member of the OECD imply?

 

Membership is not just a political stamp, but it entails strategic advantages and assuming commitments.

 

Main advantages:

 

a. Membership involves adhering to high standards of transparency, governance, and stability, which reinforces the confidence of international markets and opens up greater opportunities for foreign investment.

b. International integration and establishment of alliances with other regional members to participate in the creation or adjustment of global policies.

c. Access to international standards and experiences with proven success in other countries is a valuable opportunity to enrich and modernize our public policies in areas such as education, health, employment, as well as to generate greater legal and fiscal security, resulting in more certainty for entrepreneurs.

 

Commitments to assume:

 

a. Adopting OECD standards may require tax reforms, structural changes, and regulatory adjustments. In addition, future public policies must align with these standards, which some may interpret as a certain reduction in autonomy in this regard.

b. Submitting periodic reports on economic, fiscal, and social policies.

c. Financial contribution proportionate to the country's economic dimension.

 

An already initiated path

 

Although Uruguay is not a member, in recent years it has incorporated several OECD standards and recommendations, including:

 

1. The creation of Uruguay's National Contact Point for the implementation of the "OECD Guidelines for Multinational Enterprises".

2. Membership in the OECD Development Committee and integration into the Fiscal Affairs Committee

3. Adherence to OECD recommendations on Open Government and Artificial Intelligence

4. Convergence with international standards on fiscal transparency and effective information exchange through the signing of bilateral agreements to exchange information, as well as the approval of other convergence standards such as Law 19.484

5. Subscription to the OECD Multilateral Instrument (MLI) to apply measures related to tax treaties, to prevent Base Erosion and Profit Shifting (BEPS) - Law 19.814

6. Adoption of tax reforms inspired by standards promoted by the OECD (among others), such as those introduced in Law 20.095 related to the taxability in the country of certain passive incomes obtained by "Multinational Groups", reinforcing concepts actively promoted by the OECD such as "Economic Substance" and "Anti-Abuse".

 

What does it mean for businesses?

 

Uruguay's potential accession to the OECD is not just an institutional issue: it also sets the agenda for those who invest and operate in the country. In particular, companies should pay attention to three main areas:

 

a. Regulatory anticipation: Uruguay has already incorporated OECD standards in tax, transparency, and information exchange, but membership would accelerate that convergence and require companies to proactively review their structures and reports.

 

b. Competitiveness and investment: belonging to the OECD can reinforce the confidence of international markets and improve the country's attractiveness as an investment destination. For local actors, this opens up opportunities to partner, access financing, and expand in a more demanding framework.

 

c. New standards in innovation and sustainability: the OECD's agenda is not limited to fiscal matters. Its guidelines on topics such as artificial intelligence, digital economy, sustainability, and corporate governance anticipate regulatory frameworks that will impact multiple sectors.

 

Final reflections

 

Uruguay's potential accession to the OECD represents much more than a sign of international prestige: it would be a strategic step towards consolidating the country as a reliable partner in the global economy. In recent years, Uruguay has already demonstrated political and technical willingness to align its standards with international ones, which, accompanied by its political stability and economic situation, reinforces its reputation for seriousness.

 

While accession is not an immediate goal and entails significant demands, progressing on this path can improve the quality of public policies, attract foreign investment, and open up new opportunities for international cooperation. At the same time, it implies obligations that could restrict autonomy in defining internal policies.

 

In short, it is a process that requires balance: taking advantage of the benefits of greater international integration, while safeguarding national interests and the ability to define a model of development of its own.

 

Montevideo, August 26, 2025 - Cra. Maite Currás