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HELPING YOU CAPITALISE IN THIS INVESTMENT-FRIENDLY ENVIRONMENT

UNDERSTANDING LATIN AMERICA

The pace of social and economic reform has quickened across much of Latin America, with more governments working to increase transparency and create better environments for doing business. In some countries, the growing number of middle class
consumers is resulting in thriving economies, ripe for investment.

RSM’s Latin American firms excel at scaling their service delivery to foreign and national companies, both large and small. Our close relationships allow us to collaborate and provide seamless cross-border services throughout the region and the neighbouring Caribbean islands.

RSM Academy – Prepared for global business

19 June 2019
A key element of RSM’s global strategy is to empower and develop our people so that they can serve our clients in increasingly innovative and complex ways. For our people to achieve this in today’s global economy, working as international teams based on trust and understanding is critical in delivering our brand promise, The Power of Being Understood.

RSM's Global Capabilities

12 June 2019
From new trade rules to talent migration, from big data to cyber threats, the world is changing at an unprecedented pace. But upheaval also means opportunity, if you’re prepared.

The aftermath of Storm GDPR in Latin America

23 May 2019
Countries in Latin America have seen local regulations, similar to the GDPR, coming into force during the last year, leading to an increased knowledge about data protection regulation

Balance for Business

7 March 2019
This year’s theme for International Women’s Day is #BalanceforBetter, and the organisers have emphasised that balance is not a gender issue, it is a business issue. A blog by Jean Stephens, CEO of RSM International.

Issue 89 - IFRS News in Brief

18 February 2019
Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

RSM posts record revenues as consulting services power growth

28 January 2019
RSM has reported record global revenues of $5.37 billion for 2018

Issue 88 - IFRS News in Brief

18 January 2019
Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

2018 RSM World Conference staged in Toronto

29 October 2018
Harnessing the power of RSM’s people to drive innovation and transformation in the middle market

RSM appoints new Global Leader for Quality and Risk

22 October 2018
RSM, the leading global network of audit, tax and consulting firms focused on the middle market, has appointed Marion Hannon as its Global Leader for Quality and Risk. Marion Hannon will oversee the continuous focus on audit quality across the network.

Issue 85 - IFRS News in Brief

22 October 2018
Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Investing in our people to deliver success

26 September 2018
The theme for this year’s RSM World Day is ‘Putting Our People First’, based around our belief that through the development of our diverse talent we can create a culture of innovation, in which our people thrive and drive growth for our clients.

Re-imagining business models for GDPR and a data-driven age

4 June 2018
A blog by Jean Stephens, CEO. 2018 has been an eye-opener when it comes to protecting customer data. From middle market businesses to large corporations, cybersecurity and simple human error pose an increasing risk. With the EU’s General Data Protection Regulations (GDPR) having come into effect last month, how can middle market businesses and fast-growing companies use this change to benefit them?

Storm GDPR and Latin America

22 May 2018
Although some countries in Latin America already have similar laws to GDPR, the level of knowledge about this regulation and the breadth of its coverage are still little-known in the region, especially among the middle market.

Issue 80 - IFRS News in Brief

10 April 2018
Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Giving globalisation meaning: re-emerging markets and the road to reglobalisation

13 March 2018
Reglobalisation will belong to those countries that adapt to the onset of the Fourth Industrial Revolution, those that understand globalisation’s pros and cons, and not those hiding behind walls of protectionism. Those who want to succeed must create business-friendly ecosystems, well-established and transparent market rules and steadfast connections to transnational economic networks.

Key strategies for business leaders in the changing global economy

13 March 2018
Leaders need to carry out careful, strategic planning to meet the many challenges they face. Cautious engagement seems the wisest path. They must partner with the right advisors, research individual markets carefully, anticipate policy shifts and adapt to them more swiftly and effectively than their competitors.

People, progress and pressing the case for diversity

7 March 2018
On this International Women’s Day, achieving gender parity should not be our only goal. Equal opportunity is the bedrock of a free and fair society. We participate in society as individuals, and as a network, so it is our responsibility to contribute to it. To achieve more we all need to proactively and continuously press for progress, and bring about a world where parity, diversity and inclusion become standard and are embraced as critical elements to our business success and are part of societal norms.

RSM kick-starts 2018 with two new member firms

8 January 2018
RSM has added new member firms in Bulgaria and Costa Rica, expanding its footprint across Europe and Central America. These new firms bring RSM’s global representation to more than 120 countries.

Issue 77 - IFRS News in Brief

3 January 2018
Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

NAFTA, Brexit and the future of the middle market

8 December 2017
Middle market businesses need to prepare for the shifts of international commerce. At the same time the US President is seeking to change NAFTA, the UK is seeking to exit the largest trading bloc in the world, the European Union. The threat of renegotiated trade deals brings a risk of increased tariffs on exports and stricter regulations.

BEPS and beyond: tax issues to watch out for

16 November 2017
When it comes to tax affairs, the biggest fear among clients is of committing an offence by accident. This article outlines a number of key tax areas to watch out for, including BEPS, US tax reform and the Paradise Papers. 

Bob Dohrer reappointed to IAASB Board

6 November 2017
RSM is delighted to announce that Bob Dohrer, RSM’s Global Leader for Quality and Risk, has been reappointed for a second three-year term to the International Auditing and Assurance Standards Board.

Mapping out your approach to BEPS

16 October 2017
A guest blog by Rob Mander, International Tax Services, RSM . The international tax systems of the last decade haven’t kept up with the changing nature and pace of multinational groups of companies. In a world where so much business is conducted across borders, it is important that legislation and, more specifically, tax authorities have sufficient sight of the global allocation of income within multinational organisations.

RSM wins prestigious ‘Network of the Year’ Award

5 October 2017
RSM, the world’s sixth largest network of independent audit, tax and consulting firms, has been recognised as the Network of the Year at this year’s The Accountant and International Accounting Bulletin Awards.  Specifically, the judges commented on the success of the network’s new global brand, and the achievements over the past two years that have resulted in a stronger, better positioned and more understood network. They also praised RSM’s focus on its foundation of quality whilst at the same time building new areas of strength.

RSM launches International Tax InfoMap and a global Innovation Competition

19 September 2017
The theme of RSM World Day 2017 is ‘Innovation Through Collaboration’. To mark the occasion RSM has combined its expertise from across the network to create its interactive International Tax InfoMap. The tool is designed to help internationally ambitious businesses respond to the latest developments in international trade.

Innovation through collaboration

19 September 2017
Successful companies, particularly those in a growth phase, share a common characteristic: the dedication and commitment of their employees. 

The gig economy isn’t holding back and the middle market shouldn’t either

29 August 2017
With companies like Deliveroo and Uber bedding into our lives, the gig economy has revolutionised the way people are working and therefore the way workplaces are structured. Middle market businesses need stay ahead of the curve, using their strengths to their advantage where large corporations can’t, by reacting and revisiting their business practices to adhere to this new way of working.

Collaborative leadership drives change: a regional conference round-up

3 August 2017
We have just completed our regional conference season, with gatherings in Seoul, Dubai, Panama City, Malta and finally Johannesburg. Here, RSM International's CEO, Jean Stephens, shares her reflections from the conferences and how the different economic challenges are influencing the work we do with our clients

Tax complexity fuels uncertainty, but middle market firms can untangle the mess

22 May 2017
Tax complexity is a challenge that is particularly acute for middle market businesses who lack the scale to invest in large compliance teams, but have the agility to adapt more quickly than large corporates. We spoke to RSM experts in Australia, Brazil, UK, and US to ask how middle market businesses can untangle this mess.

Be bold for change on International Women’s Day

8 March 2017
International Women’s Day is an opportunity to celebrate how far the world has come in the fight for gender equality but also to reassess our approach.

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

RSM World Day 2016

1 November 2016
RSM World Day is a very special event in RSM’s busy calendar. This year, staff around the world celebrated our fifth RSM World Day – and yet again – our member firms pulled out all the stops to make it a huge success. This magzine shows the highlights.

RSM achieves 6% fee income growth and moves to 6th in the worldwide ranking

3 February 2016
RSM, the adviser of choice to entrepreneurial growth-focused organisations globally, is pleased to announce a 6% increase in global fee income, to US$4.64 billion, for the financial year ending 31 December 2015. RSM has also moved up one place in the global ranking and is now the 6th largest global network of independent audit, tax and consulting firms.

RSM Reporting - Issue 25

25 November 2015
In this issue we report on the IASB’s endeavour to publish a new Conceptual Framework, which is approaching a successful completion.

A day to be proud

26 October 2015
Today, 26 October 2015, is a defining day for RSM and the partners and staff of each RSM member firm as we come together under one name and brand – RSM.

Introducing RSM

23 October 2015

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.

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.  

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:

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.  

Honduras: Double Taxation on dividend income

10 November 2014
On 28 March 2010, the National Congress of Honduras passed a law called “Strengthening of Income, Social Equity and Rationalization of Public Spending Law” contained in decree No. 17-2010.

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.

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.

RSM World Day Magazine 2014

5 October 2014
Read all about the RSM World Day social and charitable activities from RSM firms around the globe.  

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.

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:

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.

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.

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.

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.

Embracing the Mexican wave

26 February 2014
The first in a series of RSM blogs on the MINT economies looks at Mexico where collaboration, investment and entrepreneurialism are reaping rewards.

RSM World Day Newspaper 2013

5 October 2013
Read all about the RSM World Day social and charitable activities from over 70 countries around the globe.  

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.

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.

Guest post: Is the Latin American boom cooling?

13 June 2013
RSM's Regional Leader for Latin America, Bob Burdett, reflects on current and possible future growth patterns across the continent.

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. 

Guest post: The death of Chavez - what's next for Cuba?

13 March 2013
RSM’s Regional Leader for Latin America, Bob Burdett, provides first-hand his thoughts on the impact of the death of Chavez for its main benefactor - Cuba.

RSM World Day 2012

5 October 2012
One day, one focus, one network. On 20 September 2012, RSM brought together its accounting network of 32,000 colleagues across 700 offices in 94 countries as part of RSM World Day. It was a celebration of the growth and success of RSM and it was an opportunity to showcase the capabilities and expertise of the intergrated network, around the world.

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 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.

Emerging markets tunnel vision: Don’t forget about Latin America

29 June 2011
China’s booming economy continues to grow at a considerable rate and has helped pull much of the global economy away from the worst of the financial crisis. India’s youthful population has also buoyed many Western economists’ forecasts of continued economic growth.

Progress in Panama

18 February 2011
There is no doubt that business in the Latin American region is exciting at the moment, as large global businesses are jockeying to invest in the growth markets spread across the continent.

How can we help you?

Regional Office

RSM Latin America
Avenida Apoquindo 5950
Las Condes,
Santiago de Chile

RM 7560930

Chile

T:+44(0)20 7601 1080

Regional Leader
Brendan Quirk

RSM Representation for Latin America: