20 December 2013

Americas Tax Center Weekly Roundup

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Latest news — Americas

Argentina approves tax treaty with Spain

On 18 December 2013, Argentine Law 26,918 was published in the Official Gazette, approving the Argentina-Spain Tax Treaty signed on 11 March 2013. The new treaty includes elimination of the exemption for Spanish shareholders from the Argentine tax on personal assets, modifications to the exchange of information clause, and elimination of the most-favored nation clause, which established the automatic application of lower withholding rates if Argentina agreed to lower withholding rates in other treaties with OECD countries. A Tax Alert provides details.

Canada–Barbados tax protocol enters into force

On 17 December 2013, the protocol amending the Canada-Barbados income tax treaty entered into force. The protocol was signed on 8 November 2011. Although the protocol focuses on the replacement of the provisions in Article XXVIII dealing with the exchange of tax information, it also introduces a number of other important changes to the convention. A Tax Alert highlights the main revisions in the protocol.

Curacao and the Netherlands agree on new tax arrangement

The Dutch State Secretary of Finance and the Curaçao Minister of Finance reached agreement on a new tax arrangement (TAK) between Curaçao and the Netherlands, according to an announcement issued by the Dutch Ministry of Finance on 12 December 2013. It is the intention that the TAK will enter into force as of 1 January 2015, under the condition that parliamentary approval will be obtained in both jurisdictions. A Tax Alert has details.

Latest issue of EY’s Trade Watch now available

The December 2013 issue of TradeWatch, a quarterly communication prepared by EY’s Global Trade practice, is now available. Articles in the current issue covering the Americas include: (1) Brazilian tax incentives for capital goods and automotive parts/components, (2) Brazilian reduction of the PIS/COFINS import tax basis, (3) Canada's foreign trade zone advantage, and (4) Mexican tax reform’s impact on foreign trade operations.

EY private equity report focuses on Mexico

With growth rates declining across most of the developed world, private equity (PE) firms have turned to emerging markets as an engine of growth. Our latest PE roundup report focuses on Mexico. With its low PE penetration, accelerating growth and lighter competition for deals, Mexico reflects a distinctive and compelling opportunity for a wide range of PE and growth capital investors. Share the quarterly report with your clients, portfolio companies and PE contacts. For additional information about PE investment in Mexico and other emerging economies, visit ey.com/peem.

This week's tax treaty news in the Americas

  • Argentina and Spain: Argentina approves tax treaty
  • Canada and Guinea: negotiations concluded on foreign investment protection agreement
  • Canada and Moldova: negotiations concluded on foreign investment protection agreement
  • Canada and Tanzania: foreign investment protection agreement enters into force
  • Mexico and Estonia: tax treaty enters into force
  • Mexico and Turkey: investment protection agreement signed
  • Mexico and Turkey: tax treaty signed
  • Panama and UK: tax treaty enters into force

This week’s EY Global Tax Alerts

Recently archived webcasts now available on-demand

Business tax services: global tax update
Looking to gain insight on recent global tax trends and developments impacting your organization? A recent webcast discussed key issues such as: (1) tax policy and controversy trends and developments, (2) research and development credits and incentives, and (3) fixed and capital asset matters, including the recently issued Tangible Property Regulations in the US. This webcast will be of interest to tax professionals, tax directors and chief financial officers. Watch it on-demand here.

Your talent in motion: Global mobility effectiveness survey 2013
Global organizations now deploy their talent around the world, around the clock – in structured assignments, in flexible work patterns, in ad hoc business travel and in short-term crisis management roles. A recent webcast examined how the individuals in the global talent pool, and the organizations they work for, can benefit from effective practices in the management of global mobility. Watch it on-demand here.

EY industry, service and issue publications


Financial Services

Government and Public Sector

Media and Entertainment

Oil and Gas