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RSM opens 4 new offices and welcomes 12 new partners in Mexico

17 January 2017
Network further expands presence in Latin America following addition of new firm in Guatemala earlier this month

Moving forward together in 2017 – a time for building successful and lasting relationships

12 January 2017
Having sustainable growth is a staple for most businesses and can come in many forms. Both organic and inorganic growth strategies can be employed to increase revenues, but crucially, they also deliver many other benefits as well.

RSM expands presence in Latin America

6 January 2017
RSM’s new member firm in Guatemala strengthens presence in Latin America and allows RSM access to the regions’ strongest performing economy

Business in the balance: Peru’s fight to remain an emerging market

21 October 2015
Continuing our series on frontier and emerging markets, we focus here on Peru – a country which was recently rated by CNN as one of the best emerging market cities for startups.

Chile: Tax Reform Law

12 October 2015
Undoubtedly, Tax Reform Law 20.870 is the largest break in Chilean tax history. The reform has the peculiarity that its implementation will take place over four years, from 2014 up to and inlcuding 2017, in order to minimise the effects of it on the economy and companies.

Economic headwinds facing emerging markets

15 September 2015
By most measures, emerging markets have outperformed developed economies since the Great Recession. Between 2010-14, emerging/developing economies posted averaged annual real GDP growth of 5.8 percent versus 1.8 percent in the advanced industrialised countries.

RSM Academy – Strong relationships built on understanding

3 July 2015
Last month, RSM ran its 9th annual RSM Academy welcoming its 479th graduate since it began in 2007. The programme sees RSM’s future leaders gather in Eindhoven, Netherlands, for a challenging week which sets out to improve their leadership skills, global awareness and how to work in multinational and multicultural teams.

Venezuela: Transfer Pricing

13 May 2015
From 1 January 2001, Venezuela changed its territorial income tax system to include non territorial income tax; in other words, a Worldwide Tax System.

Brazil: PIS/COFINS-Importation and PIS/COFINS on Financial Revenues

8 May 2015
In connection with a recent statement to increase revenue collection, the Brazilian Government published new rules related to PIS/COFINS. The main points are:

Uruguay: Uruguay meets international standards of fiscal transparency

8 May 2015
In March 2015, the Ministry of Finance reported that the Global Forum on Transparency and Exchange of Information for Tax Purposes, the multilateral organisation in which international standards on transparency and tax cooperation are developed, approved unanimously the technical report referred to the Uruguayan case corresponding to Phase 2.  

RSM achieves 18% fee income growth in 2014 to US$4.4 billion

7 January 2015
Europe: 79% fee income increase Audit and accountancy: 17% fee income growth Tax: 15% fee income growth Consulting/advisory: 57% fee income growth Nine new member firms added across four continents

World Economic Outlook 2015

1 January 2015
Economic Growth Trends

Mexico: Deduction for expenses apportioned from non-Mexican companies

19 December 2014
On 10 October 2014, Mexico’s federal tax authority, the Servicio de Administracion Tributaria (SAT), published a package of miscellaneous tax rules (the “October 10 Rules”) that included guidance on various Mexican tax provisions.

Chile: Chilean Tax Reform

10 November 2014
This change in taxation for companies has generated a significant slowdown in economic growth (current 5% down to 2% in the future). The gradual change in company income tax (20% in 2013) will be as follows:

Nicaragua: Self-transfer of Value Added Tax (VAT)

10 November 2014
The figure of the self-transfer of the Value Added Tax (VAT) applies when general services are provided or when the enjoyment or benefit is obtained from the use of goods by natural resident persons, or natural or legal non-resident, not responsible tax collectors of VAT or not registered before the tax authority.

Venezuela: Exchange Trilogy in force in Venezuela

10 November 2014
The exchange rate established by 'CENCOEX' is fixed and is set at 6,30 bolívares (Bs.) per U.S. dollar. It is applicable to items such as medicines, food, housing, education and any other item designated by the institution. So far, several items directly associated to the needs of the government sector have been added.  

Uruguay: Financial Inclusion Law

26 October 2014
On 29 April 2014, Law No. 19,210 (or Financial Inclusion Law) was approved. The Law aims to promote access to banking services and the use of electronic means of payment, such as debit card, credit card and electronic transfers, by all the population.

Argentina: Unconstitutionality of the Minimum Presumptive Income Tax. New pronouncement of the Supreme Court of Justice

26 August 2014
The Supreme Court ruled, once again, that the Minimum Presumptive Income Tax in the Diario Perfil SA c/AFIP-DGI case is unconstitutional, in line with the June 2010 ruling in the Hermitage SA case.

Panama: Still on grey listing

26 August 2014
At the end of 2009, the Panamanian government adopted a national policy with the purpose of being excluded from the OECD grey listing.

Transfer Pricing News - Mexico: Pro rata cost allocation

23 June 2014
Following a ruling of the Mexican Supreme Court of Justice on 19 March 2014, pro rata payments made outside of Mexico to non-residents are deductible – given that certain conditions are met.

RSM strengthens presence in Central America

9 June 2014
RSM, the seventh largest global network of independent audit, tax and advisory firms, has further strengthened its global presence with the appointment of a new member firm in Panama, RSM Panama S.A.

Venezuela: Taxation Regime on Dividends

8 May 2014
According to the provisions in the Income Tax Law, only those dividends arising from profits generated from 1 January 2001 shall be taxed. This means that dividends arising from profits prior to 1 January 2001 shall not be taxed. The methodology used by the Law is as follows:

El Salvador: Minimum Income Tax payment of 1% declared unconstitutional

8 May 2014
By the end of 2011, the Salvadoran Income Tax Law was modified by, amongst other things, requesting companies to pay their income tax based on the higher of (a) 30% of net profit or (b) 1% of annual taxable revenues. With the latter there is no possibility to deduct costs or expenses that were already part of the provisions in this same Law.

Nicaragua: New Tax Law in Nicaragua

8 May 2014
On 1 January 2013, the Government of Nicaragua passed Law Nº 822: 'CONCERTATION TAX LAW'(CTL). This Act and its regulations contain important changes in the tax regime.

Peru: Double Taxation Treaties: Mexico, Korea, Portugal and Switzerland

8 May 2014
On 27 and 28 December 2013, the Peruvian Congress approved four International Tax Treaties to avoid double taxation (Tax Treaties) signed by Peru with Mexico, Korea, Portugal and Switzerland.

Chile: Tax Reform in Chile

8 May 2014
In March 2014, the recently elected President of Chile submitted a Bill to Congress with the goal of performing several changes through a structural tax reform to generate revenues. This reform is focused on four clear objectives:

USA: Cross Border Tax Enforcement and FATCA

28 February 2014
The U.S. government continues to view offshore tax evasion as a significant loss of potential tax revenue. As a result, the government has been increasing its international enforcement efforts and targeting US taxpayers with undisclosed foreign accounts or holdings with a number of punitive rules designed to force reporting compliance.

Uruguay: Income Tax Exemption for marketing merchandise of foreign origin

28 February 2014
According to legislation in force in Uruguay, activities by foreign entities outside Uruguay; and those with goods in transit or deposited in customs facilities, port facilities, bonded warehouses and free trade zones of Uruguay, are exempt from income tax, when the merchandise is neither originated nor destinated to Uruguay.

Argentina: Taxation of gains from the transfer of shares and dividends

28 February 2014
Significant amendments have been introduced to Income Tax regulations, extending the tax scope to include certain financial gains, that were exempt from income tax and establishing an additional tax rate on dividend distributions and companies profits. Law 26.893 provides that as from 23 September 2013:

Costa Rica: New Transfer Pricing legislation

28 February 2014
On 13 September 2013, the Ministry of Finance published Decree 37898-Hthat establishes new legislation on transfer pricing for Costa Rican taxpayers. Much of the legislation is common to that used in other countries in the region but there are some particular considerations to this new legislation.

Mexico: Mexican legal framework - Year end tips

28 February 2014
2013 was a year full of changes in the business environment in Mexico. Perhaps the most significant one is derived from the changes made to the Mexican legal framework. Between 2013 and 2014 new legal provisions have been and will be enacted that will have great impact on the way we do business in Mexico. Appoint a “compliance officer”

Building your career? Consider Chile.

21 August 2013
Guest post by Bob Burdett, RSM's Regional Leader for Latin America If you were starting out as a young and eager business professional in Latin America today where would you want to locate? My first choice would be Santiago, Chile, and sometimes I wish that I was a lot younger so that I could try my chances there.

Uruguay: Benefits of Uruguayan Trusts

1 August 2013
Trusts in Uruguay are ruled under Law 17,703 which was published on 4 November 2003.

Peru: Tax Benefit with 'technical assistance'

1 August 2013
According to the general rule in Peruvian Income Tax (IT) Law, services rendered by non-resident individuals are subject to a 30% withholding income tax (WHT) rate. However, services that qualify as ‘technical assistance’ are levied with a 15% WHT rate applied on the Peruvian source income.

Mexico: Changes in Mexico's Federal Labour Law

1 August 2013
On 1 December 2012, important changes in Mexico’s Federal Labour Law (the 2012 amendments) came into effect.

RSM Torrent merges with Razzetto to create leading Latin American firm

4 July 2013
RSM, the seventh largest global network of independent audit, tax and advisory firms, has further strengthened its presence in Argentina and the wider Latin American region following the merger of RSM Torrent with Razzetto Lopez Rodriguez & Cordoba (Razzetto) a highly-regarded top ten Argentine firm. The enlarged firm will be known as RSM Torrent Razzetto.

RSM strengthens presence in Central America with admission of Honduran firm

28 May 2013
RSM, the seventh largest global network of independent audit, tax and advisory firms, has further strengthened its presence in Latin and Central America through the admission of a member firm in Honduras. 

RSM Survey of International Business Confidence

1 February 2013
This report summarises the results of a survey of international business confidence conducted at the RSM Annual Conference in London in November 2012. The survey gauged the views of over 280 senior leaders from within RSM member firms 70 countries on the following issues:

Prospects for the World Economy 2013

1 January 2013
The previous edition of RSM Talking Points ‘Prospects for the World Economy’ in September 2011 noted the following trajectory of the global economy: Weak GDP growth in the advanced industrialised countries burdened by the overhang of public and private debt left by the global financial crisis; robust growth in emerging markets that came out of the global downturn w

Argentina: Termination of Argentina-Spain double taxation treaty

1 October 2012
On 29 June 2012, the Argentine government notified Spain that it had terminated the Argentina-Spain tax treaty for the Avoidance of Double Taxation (the treaty).

RSM network connects for day of global celebrations

19 September 2012
On 20 September 2012, RSM will bring together its accounting network of 32,000 colleagues across 700 offices in 94 countries as part of RSM World Day – a celebration of the growth and success of the integrated network and an opportunity to showcase its capabilities and expertise around the world.

RSM International announces further growth in Latin America

20 February 2012
Following the recent admission of member firms in Uruguay and El Salvador, RSM International, one of the world’s largest global accountancy networks, has admitted Nicaraguan firm Solis Ibarra & Asociados to the network.

RSM International reports double-digit growth in Asia Pacific and Latin America

18 January 2012
RSM International, one of the world’s largest global accountancy networks, has recorded 24% growth in fee income in Asia Pacific and 17% growth in Latin America. The results represent the growing importance of these regions to international business and indicate the strength of the member firms in both areas. 

The Shale Gas Revolution

1 January 2012
Recent advances in hydraulic fracturing (“fracking”) are spurring development of shale gas reserves in the United States, Canada, Poland, Australia, and other countries. The shale gas boom has strengthened energy security in these countries by lowering dependence on imported fossil fuels.

RSM Latin America discuss client needs at annual conference

10 October 2011
RSM International, one of the world’s largest accounting, tax and consulting networks, recently held its annual Latin America Conference in Santiago, Chile.

Small and Medium Enterprises in the Global Economy

1 March 2011
Small and medium enterprises, which played a crucial role in job creation and economic growth in the early and mid-2000s, incurred major setbacks during the Great Recession. In the European Union, SME employment fell by over three million jobs in 2009-10.

Corporate Sustainability

1 February 2011
“Corporate Sustainability” – broadly conceived as the formal integration of economic, environmental, and social factors in managerial decision making and corporate governance – is assuming a central role in global business.

Commercial Developments in MERCOSUR

1 May 2010
Since its creation in 1991, MERCOSUR (acronym in Spanish for Mercado Común del Sur or Common Market of the South) has been developing at an uneven pace.