In collaboration with International Tax Review, the Latin American tax teams of Baker & McKenzie and Trench Rossi Watanabe * share an overview of relevant changes that key Latin American jurisdictions have experienced to their tax framework in the last years. Some jurisdictions continue to experience broad tax reforms and others to discuss proposals of different tax changes in what tends to be a long-term process for the sustainable development of the region.
In the article, the authors explore:
- Recent major tax reforms implemented in Chile, Mexico and Colombia
- The increase of the corporate income tax rates and dividends taxation in Argentina and Colombia
- Tax reform proposals in Brazil and the status of the efforts to amend the Brazilian transfer pricing legislation based on OECD guidelines
- The strategic tax incentives granted in some Latin American countries to balance the increase of tax audits and tax burdens in response to the economic, social and political issues caused by the COVID-19 pandemic.
Clarissa Machado, partner at Trench Rossi Watanabe (São Paulo),* contributed to this article.
*Trench Rossi Watanabe and Baker McKenzie have executed a strategic cooperation agreement for consulting on foreign law