Industries and markets

China Blocks Brazil’s Evangelical Group Seeking United Nations Recognition

“Since 2019, Bolsonaro’s government has looked favorably on the organization’s request, since it would represent an important reinforcement for some items on Brazil’s diplomatic agenda.”

Mining giant Vale’s ex CEO charged with homicide for massive dam collapse

“Vale’s former chief executive officer was charged with homicide for the massive dam collapse that killed more than 250 people in Brazil last January (2019). Fabio Schvartsman is the highest-profile executive facing criminal charges for

Mexico: UMA amounts effective 1 February 2020

The values of the “unit of measure and update” (unidad de medida y actualización (UMA)) were published on 10 January 2020 in the official gazette and will be effective 1 February 2020: Daily $86.88* Monthly

Argentine president puts a deadline to renegotiates public debt: March 31

“Argentina is in talks with bondholders and other creditors to restructure about US$ 100 billion in debt, among them the IMF to whom it owes about US$ 44 billion.”

Chile’s oil company ENAP faces sanctions for hydro-fracking in Tierra del Fuego

“ENAP has 10 days to present a compliance plan to the regulator, or 15 days to dispute the charges, the environmental superintendent said in a statement.”

Argentine president said no plans to bail out Buenos Aires province, the richest of the country

“Buenos Aires province, Argentina’s largest, said last week it was seeking talks for ”temporary financial relief“ with holders of its 10.875% bond due in 2021.”

Lawsuit forces Uber to stop operating in Colombia

“Uber said Friday it will stop operating in Colombia following stiff opposition from taxi drivers’ unions and a lawsuit that said the ride-sharing app was breaking local transport laws.”

Brazil: Changes to EFD-Reinf Delivery Standard for 3rd eSocial Group

Brazil tax authority RFB published the new Normative Instruction No. 1,921, which amends RFB Normative Instruction 1,701, of March 14, 2017, which establishes the Digital Tax Bookkeeping of Retentions and Other Tax Information (EFD-Reinf).  

Brazil: Release of Digital Accounting Bookkeeping (ECD) Version 7.0.0

Version 7.0.0 of the Digital Bookkeeping (ECD) program has been published, with changes to layout 8  which affects calendar year 2019 normal situations and 2020 special situations.   What layout changes ensue? Inclusion of Block

Mexico: New Tax Regulations for 2020

At the end of December 2019, new tax measures for 2020 (Resolución Miscelánea para 2020) were published in Mexico in the Official Journal, which contain provisions on the following tax issues: VAT Income Tax Act