Industries and markets

“Monumental” plunge of economic activity in Chile during May, 15,3%

“The May statistic follows a similarly dire result in April, when Chile´s economy plunged 14.1%. Both represent the index´s steepest year-on-year drops in 34 years.”

Aeromexico becomes latest LatAm airline to file for bankruptcy

“Aeromexico is the third airline to file for bankruptcy protection in Latin America, where carriers have been more affected by the crisis than anywhere else in the world.”

Chile: Simplified VAT system and registration requirement for digital service providers

The Chilean tax authority SII (Servicio de Impuestos Internos) has decided that non-resident providers of digital service have to register for VAT purposes.   Who is obliged to register? The obligation to register relates to

Brazilian Government extends payment period for PIS / Pasep and Cofins

The Brazilian government extended the deadline for the payment of the social security contribution and the Contribution to the Social Integration and Formation Program for the Civil Servants’ Property (PIS / Pasep) and the Contribution

Argentina´s AFIP declares Super Moratorium for 2020

Argentina`s tax authority AFIP has introduced the “Extended 2020 Moratorium” which aims at extending the terms of accession, the deadlinea and type of obligations as well as lowering the interest rate. The moratorium includes all

Argentina and Brazil crops threatened by locust swarm

“The insects, which can cover a distance of 150km (93 miles) in a day, have already travelled from Paraguay to Argentina and it is feared Brazil and Uruguay could be next.”

Mexico’s economy contracted a record 17,3% in April from March and 19,9% year on year

“A breakdown of the data showed that primary activities such as farming, fishing and mining shrank 6.4% from March.”

Massive support in Brazil for democracy, and only 10% for a military dictatorship

“Some 75% of Brazilians support the country’s current democracy, a poll by Datafolha released on Sunday showed, while just 10% of citizens support a dictatorship, the highest and lowest levels of support for the two

COVID-19 could crush Argentina’s shale boom

“As the global oil market began to fall apart earlier this year, fracking activity in Argentina’s Vaca Muerta came to a complete halt, with the number of fracking stages (a common measure of drilling activity

Mexico’s economy contracted a record 17,3% in April from March and 19,9% year on year

“A breakdown of the data showed that primary activities such as farming, fishing and mining shrank 6.4% from March.”