latin america in focus newsletter


Latin America in Focus

Staying ahead of cross-border operations

Latin America's emergence as a world market has been, and continues to be, accompanied by an upsurge in the complexity of laws, regulations, and practices impacting cross-border operations throughout the region.

Latin America in Focus shares the latest developments with consequences for the region's tax, legal, and overall business environment—developments that businesses and individuals with investments in Latin America cannot afford to ignore.

Click on any of the headings below to read more about the topic.

In this issue

Best practices in tax compliance

Tax compliance is not for the faint of heart. Proper execution can directly affect cash flow, the defensibility of tax return positions, risk management, and ultimately the public’s perception of a company as a responsible taxpayer.

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Country-by-Country (CbC) reporting rules issued

The tax authorities published a general ruling on 20 September 2017 that implements CbC reporting for fiscal years beginning on or after 1 January 2017.

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Status of various regimes in context of OECD BEPS project 

The government will review its existing preferential tax regimes based on the results of an OECD peer review.

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Reimbursement of remuneration costs paid by head office not taxable

The tax authorities issued a private letter ruling on 23 August 2017 that addresses the tax treatment of reimbursement payments made by a Brazilian company to its foreign parent or a foreign related company.

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House of Representatives approves bill relating to CRS and other tax measures

The congress has approved a bill that includes measures to implement the OECD common reporting standard, extend the transition rules under the dual tax regime and abolish the investment platform regime.

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Special economic zones officially launched

Decrees published in the federal official gazette on 29
September 2017 officially launched three special economic zones (SEZ) in the country. The SEZs, which apply as from 30 September 2017, provide for preferential income tax, VAT and customs duty treatment for companies operating in the zones.

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Procedure updated for requesting exemption from alternative minimum tax

A resolution wasvpublished in the official gazette on 13 October 2017 to update the procedure for requesting an exemption from the application of the alternative method for calculation of the corporate income tax and to establish a list of optional information that taxpayers may provide to supplement and support their requests.

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Contact us

For more information, please contact Americas Tax & Legal.

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Note: Latin America in Focus is not intended to be an inclusive update for all Latin America countries, but rather features key developments in the countries covered.

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