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Stepping up and bouncing back – ITR’s Latin America Special Focus launched

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As Latin America continues on the road to recovery, ITR looks forward by partnering with leading tax advisors to examine Latin America’s tax landscape for 2021.

Latin America is expected to make a ‘moderate recovery’ following the global impact of COVID-19, according to the World Bank, with reports of a forecasted growth of 5.2% for 2021. Economic conditions are improving - the rebound may be slower than hoped but progressive steps are being taken in the right direction.

ITR brings you exclusive coverage from experts across Latin America on the most significant tax and TP-related developments.

Baker McKenzie’s practitioners provide an insight on the general anti-avoidance rules and the potential the rules have to strengthen the tax system across Latin America.

Deloitte’s TP experts report on the mandatory disclosure regime obligations in Mexico and the trends in TP audits across Central America. The Deloitte Brazil team focus on why local entities in Brazil continue to be affected by an increase on taxable adjustments arising from TP matters. As Colombia, Peru and Venezuela take steps to advance their TP models, the Deloitte team explain the approach each country is adopting.

Basham Ringe & Correa’s article discusses Mexico’s Income Tax Law, the US–Mexico tax treaty and the provision that requires foreign residents to pay a 10% tax on dividends paid to Mexican companies.

Chile has experienced several tax reforms, which have substantially changed the tax scene in Chile. EGB Abogados describe how the reforms are promoting growth in this most developed Latin America country. The Deloitte team provide a valuable insight on changes to tax planning reporting in Argentina and the new transfer pricing obligations in Chile.

We hope you enjoy this year's edition of the Latin America guide.

Click here to read all the chapters from ITR's Latin America Special Focus

 

More from across our site

The state secretary told the French press that the country continues to oppose pillar two’s global minimum tax rate following an Ecofin meeting last week.
This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.
Businesses need to improve on data management to ensure tax departments become much more integrated, according to Microsoft’s chief digital officer at a KPMG event.
Businesses must ensure any alternative benchmark rate is included in their TP studies and approved by tax authorities, as Libor for the US ends in exactly a year.
Tax directors warn that a lack of adequate planning for VAT rule changes could leave businesses exposed to regulatory errors and costly fines.
Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.
Tax leaders say communication with peers is important for risk management, especially on how to approach regional authorities.
Advances in compliance tools in international markets and the digitalisation of global tax administrations are increasing in-house demand for technologists.
The US fast-food company has agreed to pay €1.25 billion to settle the French investigation into its transfer pricing arrangements over allegations of tax evasion.
HM Revenue and Customs said the UK pillar two legislation will be delayed until at least December 2023, while ITR reported on a secret Netflix settlement and an IMF study on VAT cuts.
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