Latin America (19th edition)

As Latin American countries increasingly align with the OECD, transfer pricing (TP) remains a hot topic, while jurisdictions continue to introduce tax reforms in the wake of COVID-19. ITR’s correspondents offer an overview.

Jesús Aldrin Rojas of QCG Transfer Pricing Practice explains how transfer pricing (TP) in Latin America is evolving to align with OECD guidelines, and how the global tax agreement on pillar one and pillar two could affect the region.

Alberto Maturana, Ciro Meza, Martin Barreiro and Rolando Ramírez-Gastón of Baker McKenzie and Clarissa Machado of Trench Rossi Watanabe provide tax updates from Argentina, Brazil, Chile, Colombia, Peru, Mexico and Venezuela.

Denise Lester and Edson Uribe of Galicia Abogados address the evolution of the substance‑over‑form principle in the resolution of Mexican tax controversies and disputes.