Industries and markets

Colombia: penalties for companies not complying with e-Invoicing requirements

Companies residing in Colombia that are non-compliant with the e-Invoicing requirement starting January 1st, 2019 are facing the following penalties  . A financial penalty of 15.000 UVT (1 UVT =$33.156 COP) pending on the following

Shares of Colombia’s Aval Plunge Most Ever Amid Odebrecht Probe

“Shares in Grupo Aval, Colombia’s biggest banking group, fell the most ever Wednesday following a month in which a bribery investigation into its partner took a series of bizarre turns, spooking investors. The company’s bonds

BEPS Action 13 in Latin America

The BEPS Action 13 Report (Transfer Pricing Documentation and Country-by-Country Reporting) offers multinational enterprises (MNEs) a template to yearly transfer all relevant information that are mandatory in their tax jurisdiction. This report is called Country-by-Country (CbC)

Mexico: Initiative to prohibit unauthorized advertisement text messages and phone calls

“Ricardo Monreal Ávila, coordinator of the leftist party Morena in the Senate, will propose an initiative to prohibit and punish companies using advertising strategies to promote their products via text messages and phone calls without

Brazil’s Petrobras to be led by privatization advocate

” Brazil’s President-elect Jair Bolsonaro on Monday named Roberto Castello Branco, a pro-market reformer, as future chief executive of the country’s state-controlled oil company, Petrobras. Castello Branco, a former member of Petrobras’ board, has advocated

Brazil’s justice minister designate Moro names anti-graft team

“Brazil’s incoming justice minister, the former anti-corruption judge Sergio Moro, picked Mauricio Valeixo on Tuesday to be director-general of the federal police with a mission to fight graft and organized crime.”

Mexico’s AMLO Scraps $13 Billion Airport Project; Peso Plunges

“Lopez Obrador scrapped the project after almost 70 percent of 1.07 million people who participated in a national referendum voted against the airport, among the nation’s biggest infrastructure projects. The peso tumbled past 20 to

Cuba to withdraw doctors from Brazil after Bolsonaro snub

“Cuba said on Wednesday it would pull thousands of its doctors from Brazil after the South American nation’s President-elect Jair Bolsonaro questioned their training and demanded changes to their contracts. “

Argentine Senate approves austerity budget for IMF deal

“Argentine lawmakers approved an austerity budget for 2019 on Thursday, cutting social spending and raising debt payments to meet conditions for expanded financing from the International Monetary Fund.”

Mexican stocks headed for 2nd day of losses

“Mexican stocks experienced a second day of losses Friday after the party of President-elect Andres Manuel Lopez Obrador floated a proposal to prohibit some commissions charged by private banks.”