For tax executives of international companies headquartered in the Americas, the future of international taxation has never been more uncertain. The global project to address tax base erosion and profit shifting (BEPS) is in full swing, and the Organisation for Economic Co-operation and Development’s (OECD) Action Plan on BEPS is progressing quickly. The OECD’s recommendations are starting to take shape, but what it will ultimately recommend and how individual countries will translate these recommendations into law are still unknown. While countries in Europe and North America may appear to have the strongest voices in the debate, many countries in Latin America are influencing – and being influenced by – the profound international taxation changes that are under review.
At the mid- point in the OECD Action Plan's two year mandate, KPMG International ("KPMG") polled senior tax policy specialists in KPMG member firms across the Americas to take stock of trends and developments in these countries. In particular, we asked:
Our findings are set out in this publication, starting with an overview of BEPS-related trends in the region as a whole, followed by an in-depth look at how events are unfolding in selected Americas countries. We conclude with guidance that tax directors of international companies should consider now to address these changes and help them continue to thrive in the Americas' new tax reality.
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 155 countries and have 174,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.