Category: South America
Ecuador publishes new transfer pricing guidance
On the 1st of July 2020, Ecuador's tax authority communicated its new transfer pricing laws. ... - Continue reading
Public input sought on Brazil, OECD transfer pricing harmonization
Brazil set out in the direction of tax reform. ... - Continue reading
US, Curacao agree to exchange country-by-country tax reports on large multinational groups
The United States and Curacao have joined hands to better counteract tax avoidance on the behalf of multinationals. ... - Continue reading
Colombia Becomes 37th Member Of OECD
Colombia is now officially a member of the OECD. ... - Continue reading
Cabinet approves pact on avoidance of double taxation with Chile
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. ... - Continue reading
Peru tax authority guidance addresses deductibility of interest paid to non-residents
On September 20, the Peruvian tax authority issued guidance as to how to treat interest expenses on foreign debt. ... - Continue reading
Argentina issues burdensome draft transfer pricing guidance for public comment
Argentina’s tax authority on October 2 launched a public consultation on proposed guidance that includes significant and burdensome changes to the transfer pricing requirements that local taxpayers must comply with. ... - Continue reading
Paraguay introduces transfer pricing rules
Paraguay, on September 13, enacted special regulations providing for the transfer pricing analysis of intercompany transactions. ... - Continue reading
Colombia: Colombia Publishes Guidelines On Advance Pricing Agreements
Colombia's National Directorate of Taxes and Customs (DIAN) released detailed guidelines (the Guidelines) to clarify the procedure for Advanced Transfer Pricing Agreements (APAs) requests in order to ensure certainty between the parties regarding their transfer pricing arrangements. ... - Continue reading
Brazil: Brazilian Tax Review – August 2019
After 20 years of negotiations, the European Union and Mercosur have moved forward with the free trade agreement between the two blocs. ... - Continue reading
Argentina: The OECD Guidelines For Multinational Companies And The Specific Instance
For over 20 years the Argentine Republic has adhered to the "OECD Guidelines for Multinational Companies" ("Guidelines"), through the "Declaration on International Investments and Multinational Companies" of the Organization for Economic Cooperation and Development ("OECD"). ... - Continue reading
Japan, Argentina sign tax treaty
Japan and Argentina join hands for tax reform ... - Continue reading
Argentina offers new tax incentives for high tech businesses
Measures set to attract high technology businesses to Argentina ... - Continue reading
Peruvian Government Passes Law to Tackle Tax Avoidance
LIMA, PERU — The Peruvian government passed a law on Monday aimed at closing loopholes that allow companies to avoid paying taxes, estimating it will be able to collect additional revenues equal to nearly 1 percent of gross domestic product per year. The law, which was passed by decree after… – Continue reading
Chile May Tax eCommerce Companies 19 Pct
Chile is considering a 19 percent tax on multinational eCommerce companies like Amazon, Netflix and Uber. Finance Minister Felipe Larrain made the announcement on Thursday (Jan. 10), and if it comes to fruition, the rate would be almost double what was originally proposed, Reuters reported. The Chilean Chamber of Commerce,… – Continue reading
Argentina, Panama, Paraguay and Uruguay to share tax information with each other
The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
Argentina, Panama, Paraguay and Uruguay to share tax information with each other
The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
Switzerland: The Brazil And Switzerland Double Tax Treaty: Why Is It So Significant?
Background The Brazilian and Swiss Governments signed a Double Tax Treaty (DTT) on 3 May 2018. Switzerland is one of the biggest investors in the Brazilian market and Brazil and Switzerland have already signed an Automatic Exchange of Information Agreement, which came into force on 1 January 2018. This new… – Continue reading
Brazil and United Arab Emirates sign agreement to eliminate double taxation
Convention signed on Monday will facilitate investments, can reduce tax evasion Brazil and the United Arab Emirates signed an agreement to eliminate double taxation on income and prevent tax evasion and tax avoidance. The document was signed on Monday (12 November) by Brazilian Foreign Minister Aloysio Nunes Ferreira and UAE… – Continue reading
Crypto in Israel: Deep Likelihood Analysis of Mass Adoption, Tax Evasion Issue
On Aug 26, the Jerusalem Post wrote a very good story about the chances of Israel adopting a state-backed crypto just like Venezuela did a few days ago, although for completely different reasons. While Venezuela launched the Petro recently as an outrageous Hail Mary as it faces 6-figure inflation, Israel’s… – Continue reading
European Leaders Press for New Digital Tax at G20 Meeting
European finance officials just wrapped up a G20 summit in Argentina where they pressed for new global rules to better collect tax on digital giants like Google (NASDAQ:GOOGL 1258.15 0.04%), Facebook (NASDAQ:FB 214.67 0.02%), and Amazon (NASDAQ:AMZN 1829.24 0.02%), among others. The European Commision is the executive (read: tasked with… – Continue reading
Peru Ratified OECD’s Multilateral Tax Convention
Peru has completed the necessary steps to become a party to the OECD Multilateral Convention on Mutual Assistance in Tax Matters and also the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. On May 28, 2018, Peru’s Minister of Economy and Finance, David Tuesta, deposited… – Continue reading
Brazil, Singapore ink double taxation avoidance deal
Buenos Aires (VNA) – Brazil and Singapore have signed a double taxation avoidance agreement and are considering the possibility of signing a free trade agreement (FTA) between Singapore and Mercosur, the South America trade bloc. According to a statement released by the Brazilian Ministry of Foreign Affairs on May 8,… – Continue reading
Bitfinex denies links to Colombian drug money
Assets seized by Polish police are reportedly linked to the cryptocurrency exchange’s account in the country. Following a couple of days of rumours, Bitfinex – currently the fifth largest cryptocurrency exchange based on volume, according to Coinmarketcap – has been moved to deny it is embroiled in an investigation regarding… – Continue reading
Argentina Extends CbC BEPS Reporting Deadline
Argentina’s Federal Administration of Public Income has extended the filing deadline for country-by-country (CbC) notifications. Taxpayers who are part of multinational enterprises now have until May 2, 2018, to file CbC notifications where the ultimate parent company of the multinational group has a December 2017 fiscal year end. The CbC… – Continue reading
Peru: President Admits Using Offshore Firm to Avoid Taxes
Peru’s under fire President, Pedro Pablo Kuczynski, admitted using an offshore company to avoid paying US taxes ahead of an impeachment vote on Thursday. The septuagenarian leader’s disclosure came during a marathon seven hour testimony to a congressional investigative committee on Friday as he attempted to disentangle himself from an… – Continue reading
