In Focus

Ecuador: SRI implements new Tax Rules and Procedures

In Mid-February 2019, the Ecuadorian tax authority SRI issued new rules and procedures for the effective implementation of the common standard of information communication and due diligence for taxpayers though Resolution No. NAC-DGERCGC19-00000003. The Resolution is based on international demands derived from the accession of Ecuador to the Global Forum on transparency and exchange of…

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Argentina: Implementation of the ‘Multinota Digital’

The Multinota Digital is an instrument for the electronic presentation of legal statements in the area of ​​the Argentine tax authority AFIP-DGI. The instrument is based on General Resolution (AFIP) no. 4503/2019 (BO 06/12/2019), which contains a list of application fields and corresponding authorization data for the new instrument.   What can the digital presentation…

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Mexico: Interim Results of the AMLO Presidency

Andres Manuel Lopez Obrador, AMLO for short, has ruled Mexico for six months. He was able to convince 30 million voters with his election promises. But which of those promises has he fulfilled so far?   What did AMLO promise? AMLO’s campaign promises were as follows: More safety Less corruption Economic development Austerity measures  …

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Argentina: Tax Incentive Program for IT and R&D

On January 1, 2020, a new tax incentive program for software, science-based services, and research and development will come into force in Argentina, which will run until December 31, 2029. Domestic companies and professionals active in these fields can benefit from the following tax benefits:   Reduction of the income tax rate from 30% to…

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Labor Reform in Chile

On May 2, 2019, the Chilean government announced the second draft labor reform to modernize its labor system and address certain tax and regulatory issues. The new project focuses on the following topics:   Working hours Identification of service exporters Application for export tax refund Tax on dividends on foreign income   Working Time Regulations…

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Tax Reform in Chile

Chile is in the midst of modernizing its tax system. Based on the respective law, the Proyecto de Modernización Tributaria of August 2018, the amendments concern the following regulations: Corporation tax Capital Gains Tax Regulations for permanent establishments Introduction of a digital service tax   The aim of the tax reform is to simplify the…

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The Costs of doing Taxes in Latin America

In OECD countries, it takes a company 159 hours on average to do the taxes. This number is more than doubled in Latin America with 330 hours. This equals 41 8-hour working days! Especially in Brazil, the complexity of the tax system leads to excessive amounts of time, up to 1,958 hours a year (248…

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Argentina: Draft Law to promote the Construction Industry

Recently, President Mauricio Macri submitted a bill to the Argentine Congress to relieve and encourage the construction industry by reducing various taxes for two years. As part of a column, he explained the draft, its goals and the underlying motivations.   “In order to boost the productive sector and unfold the potential of the construction…

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Chile: Government presents the latest tax reform proposal

On April 9, 2019, President Sebastián Piñera presented the Finance Committee of the Chamber of Deputies with the latest tax initiative of his government. The tax reform aims to amend the corporate tax and capital gains tax (CGT) rules.   Tax unification and reduction The tax reform of the previous government has led to two…

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