Tax Advisory in Latin America: Solutions for NorthAmerican Businesses

For Canadian and US companies looking to expand their businesses into Latin America, navigating the complex tax landscape can be a daunting challenge. The region is renowned for its diverse tax regulations, which can vary significantly from one country to another. To ensure a smooth and successful entry into the Latin American market, it is crucial to seek expert tax advisory services that understand the nuances of local taxes in an international context. In this blog post, we will explore the significance of tax advisory solutions in Latin America and how our services can help Canadian and US businesses avoid excessive taxes and ensure compliance.

Table of Contents

Understanding Local Taxes in an International Context

Avoiding Excessive Taxes and Penalties

Expert Tax Advisory for Latin America

International Tax Expertise

Practical Experience from Business Professionals

Regional Coverage for Comprehensive Tax Support

Conclusion

-----------------------------------------------------------------------------------------Understanding Local Taxes in an International Context

Setting up a local entity in Latin America goes far beyond understanding domestic tax regulations. To create an effective tax strategy, companies must consider the broader transnational aspects, such as double taxation treaties, withholding taxes, transfer pricing, permanent establishment status, and foreign ownership. These elements can significantly impact a company's tax liabilities and compliance requirements.

Tax advisory experts such as Ongresso, specialize in providing comprehensive support to international clients seeking to establish businesses in Latin America. We understand the intricacies of cross-border taxation and can guide companies through the complexities of tax planning. By analyzing the interplay of international and local tax regulations, we devise tailored solutions that minimize tax burdens and ensure regulatory compliance.

Avoiding Excessive Taxes and Penalties

One of the primary objectives of our tax advisory service is to support Canadian and US companies specially, to avoid excessive tax payments and mitigate the risk of severe penalties. Our team of experts has advised numerous industry leaders before and after they set up their local entities in Latin America, resulting in significant tax savings.

By leveraging our expertise and regional knowledge, we identify tax-efficient structures and strategies that align with each company's unique business goals. This proactive approach empowers businesses to optimize their tax positions while staying compliant with local tax laws.

Expert Tax Advisory for Latin America

With over 12+ years of experience in establishing legal entities across Latin America, our tax advisors possess in-depth knowledge of the region's tax systems and regulatory frameworks. Our extensive network of top tax and legal professionals ensures that our clients benefit from the most up-to-date advice and strategies.

We take a comprehensive approach to tax advisory, considering not only the immediate implications of tax planning but also its long-term impact on business operations. By examining each client's industry, business model, and growth plans, we provide tailored recommendations that facilitate informed decision-making.

International Tax Expertise

Our tax advisory service focuses exclusively on supporting international businesses with local operations in Latin America. This specialized expertise allows us to understand the specific challenges faced by foreign companies entering the region and design effective tax solutions accordingly.

Whether it's mitigating double taxation, optimizing withholding tax rates, or navigating complex transfer pricing rules, our tax advisors have a proven track record of achieving favorable outcomes for our clients. We aim to provide clarity and peace of mind in the ever-changing landscape of Latin American tax regulations.

Practical Experience from Business Professionals

What sets our tax advisory service apart is our hands-on experience as business people who have set up our own local entities in Latin America. Ongresso understand the realities and challenges of operating in the region firsthand, which enables us to offer pragmatic solutions that align with our clients' commercial objectives.

Having experienced the process of establishing businesses in Latin America, we know the importance of a well-structured tax strategy from the ground up. Our practical experience translates into tangible benefits for our clients, as we anticipate potential pitfalls and proactively address tax-related issues before they become a burden.

Regional Coverage for Comprehensive Tax Support

With our extensive network of tax experts across Latin America, we provide our clients with unparalleled regional coverage. Regardless of the country or jurisdiction in which they wish to operate, our clients can rely on us to deliver reliable and accurate tax advisory services.

This regional coverage ensures that our clients have access to the most up-to-date and relevant tax information for their specific location. It also enables us to adapt our strategies to local tax changes, helping businesses maintain compliance and maximize tax efficiency.

For instance, our client VSM, needed a suitable tax consultancy in Latin America, so thanks to our support and solution, he was able to save more than 90.000 EUR in annual taxes. 

We supported the expansion of their subsidiary in Colombia, which made profits for the first time since its foundation thanks to the customized tax analysis and recommendations of our tax experts. Read this and other testimonials here.

Conclusion

In conclusion, for Canadian and US companies seeking to venture into the vibrant but challenges markets of Latin America, professional tax advisory is not just a luxury but a necessity.

Ongresso tax advisory service offers a complete solution to help businesses navigate the intricate tax landscape of the region. By understanding local taxes in an international context, avoiding excessive taxes and penalties, and leveraging our expert knowledge and practical experience, we ensure that our clients can establish their presence in Latin America with confidence. With a focus on international tax expertise and regional coverage, we are committed to supporting businesses throughout their expansion journey in Latin America.