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Latin America Tax Executives Workshop

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Presentación del tema: "Latin America Tax Executives Workshop"— Transcripción de la presentación:

1 Latin America Tax Executives Workshop
9 May 2012 Mexico City, Mexico

2 Agenda Novedades fiscales en Estados Unidos, Europa, Centro América, Brasil, Colombia y otros países Actualización de temas fiscales internacionales Auditorias y Controversia

3 Estados Unidos 9 May 2012 Mexico City, Mexico

4 Circular 230 disclaimer Any US tax advice contained herein was not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. These slides are for educational purposes only and are not intended, and should not be relied upon, as accounting advice.

5 Agenda US Legislative update IRS thin capitalization challenges
US Treaty update Planning considerations

6 Legislative update

7 Annual US federal budget process
Begins when President submits a budget request to Congress for the coming fiscal year (beginning 1 October) Generally submitted in early February Details Administration’s tax and spending policy recommendations and priorities Congress holds hearings on President’s budget and develops its own “budget resolution,” a broad outline of spending limits and revenue targets If passed, the budget resolution sets the limits and thresholds for spending and tax bills for the coming year If not passed, the previous year’s resolution remains in effect

8 Camp proposal – Overview
On 26 October 2011 House Ways and Means Committee Chairman Dave Camp (R-MI) released a “discussion draft” of an international tax proposal that reflects a reduction in the corporate tax rate to 25% and a form of a territorial tax regime The discussion draft was released as part of the Ways and Means Committee’s comprehensive tax reform effort and these elements are intended to be combined with other corporate and individual tax changes The discussion draft includes full statutory language and a detailed technical explanation The specific proposals included in the discussion draft generally are proposed to be effective for taxable years beginning after December 31, 2012

9 Camp proposal - 95% deduction for certain CFC dividends
The proposal generally would provide a 95% deduction for the foreign source portion of dividends received by a US corporation from its CFC No credit or deduction would be allowed for taxes (including withholding taxes) attributable to dividends eligible for the 95% deduction Foreign branches would be treated as CFCs for this purpose, and Treasury would be provided authority to provide similar treatment for partnerships or other flow- through entities At the election of the taxpayer, similar treatment would be provided for “10/50 companies”

10 Camp proposal - 95% Deduction for certain CFC dividends Transition rule deemed inclusion of accumulated foreign earnings In the last taxable year ending before January 1, 2013, the subpart F income of a “specified 10-percent owned foreign corporation” would be increased by the corporation’s “accumulated deferred foreign income” determined as of the close of such taxable year The inclusion of this subpart F income would be subject to an 85% deduction, for an effective tax rate of 5.25% No credit or deduction allowed for foreign taxes paid (or deemed paid) with respect to deductible portion Taxpayer could elect to pay tax liability in up to eight installments (including interest); certain events can accelerate payment of tax The accumulated foreign income so included would be subject to the 95% DRD when distributed, which at a 25% tax rate would represent an additional tax of 1.25%

11 Camp proposal – Thin capitalization rule
Scope: Would apply to any US corporation that is a “US shareholder” with respect to any foreign corporation that is part of the same worldwide affiliated group that includes the US corporation disallowance would apply if the US corporation fails to meet a relative leverage test and a percentage of adjusted taxable income test If the domestic corporation fails the relative leverage test and the percentage of adjusted taxable income test, the domestic corporation’s interest deduction is reduced by the lesser of the amount computed under each test Intra-group debt and equity disregarded Disallowed interest expense carried forward

12 Camp proposal – Alternative options to prevent base erosion
Option 1: Excess income from intangible assets Option 2: Current tax on low-taxed cross border foreign income Option 3: Subpart F treatment combined with reduced taxation

13 Camp proposal What does this approach mean for US multinationals? What are the implications for foreign multinationals investing in the US?

14 IRS thin capitalization challenges

15 Increased IRS focus on thin capitalization
IRS challenges to disallow debt (thin capitalization) are more prevalent Important to establish appropriate debt level and have contemporaneous documentation regarding suitability of debt levels

16 Thin capitalization – What can taxpayers do?
Proper documentation and analysis Ensure appropriate and contemporaneous documentation of their debt/equity position and a full credit capacity analysis that documents their ability to borrow from third parties on similar terms Document business rationale for borrowing or new capital structure

17 US Treaty update

18 Treaty update Hungary, Switzerland, Luxembourg Treaty
US Treaties/Protocols with Switzerland, Luxembourg and Hungary pending ratification in US Senate New US Hungary Treaty will have modern LOB clause and triangular provision (neither are in current US/Hungary Treaty) Treaty ratification status

19 Treaty update US/Chile Treaty
Signed 4 February 2010 (not entered in force) Dividend withholding tax rate 5% for dividends paid to company with 10% vote. 15% otherwise. Special rule for pensions. Interest 4% for interest paid to bank, insurance company, certain equipment sales and certain special situations 15% otherwise for 5 years 10% after 5 years Special provisions for interest associated with branches and back-to- back arrangements Royalties 2%/10% Special sourcing rule Limitation on Benefits (“LOB”) provisions Fiscally transparent entity provision

20 US/Mexico Treaty Has modern Limitation on Benefits (LOB) Provisions
Note: Different from other treaties relating to certain details in application Withholding rates: Dividends: 5% for dividends paid to companies with 10% vote; 10% otherwise 0% where corporate shareholder owns > 80% vote for 12-month holding period and meets certain treaty LOB provisions 0% for certain pension/retirement plan recipients Special provisions for Regulated Investment Company and Real Estate Investment Trusts Interest 4.9% - loans from banks and for interest from certain securities 10% - on interest where 4.9% rate requirements are not met and interest is paid by banks or arises from certain credit sales relating to sale of machinery and equipment 15% - all other Certain limited exceptions to withholding tax on interest Royalties – 10%

21 Planning considerations

22 Leveraged Dividend Mexico Mexico US CO ROW US Co Group Finance Company
Dividend a Note Mexico Dividend US CO ROW US Co Group Finance Company Loan

23 Hungarian Treaty Implications
Public Expected result under old treaty Interest payments eligible for 0% interest WHT under the old US – Hungary Treaty Expected results under new treaty Where EU/NAFTA/EFTA is parent company Even if new treaty Limitation on Benefits (LOB) provisions are met, the triangular provision is expected to result in 15% US WHT assuming low combined Hungary/branch taxation Where other parent company is Likely to have no treaty benefits (US 30% WHT) unless Hungary meets treaty requirements as headquarter company, engaged in active trade or business (ATB) test or otherwise receives Competent Authority discretionary relief. EU/NAFTA Hungary loan Third-country branch US Sub interest

24 Potential US Investment Structures
Mexico Interest US Co Third country ATB Co meeting US treaty LOB Loan

25 Preferred Share Financing
Mexico Group Company US Preferred Stock Common Stock Sale / repurchase agreement US 2

26 Europe 9 May 2012 Mexico City, Mexico

27 Introduction Economic outlook in Europe is highly uncertain because of ongoing debt crisis European countries are implementing severe budget cuts and are looking for ways to increase tax revenue without hurting competitiveness EU — continued focus on enhancing cooperation on tax policy and tax harmonization

28 EU Developments – CCCTB Proposal
One consolidated tax base Different tax rates Sharing mechanism based on allocation key (10% for sales, 45% for labor, 45% for assets) Common set of anti-abuse provisions Reduced compliance Reduced transfer pricing issues Automatic loss offset No tax costs on restructuring Participation exemption & PE exemption on 1/3rd countries income subject to ETR condition (otherwise credit method applies) EU 1 EU 4 EU 3 EU 2 Status On 19 April 2012 the European Parliament approved an amended version of the draft CCCTB Directive of March 16, European Companies and European Cooperative Societies will have to apply the CCCTB system starting two years after the member states apply the CCCTB. After five years, all other companies (except for small and medium-sized enterprises, SMEs) would have to apply the CCCTB rules (SMEs could voluntarily opt in). If no unanimous decision is obtained for introduction, the enhanced cooperation procedure could apply (at least nine MSs need to vote in favor).

29 EU Commission Consultation Double Non-Taxation
The European Commission (the Commission) has commenced a fact-finding consultation to identify situations of ‘double non-taxation’. The consultation defines double non-taxation as cases of mismatch between the tax rules of two or more countries that leads to low/no taxation of certain activities, and is concerned with direct taxes. The press release accompanying the consultation provides that double non-taxation, “deprives Member States of significant revenues and creates unfair competition between businesses in the Single Market”. The consultation was issued on February 29, 2012 and asks for feedback on examples of transactions which lead to double non-taxation and for suggestions as to how they could be tackled. The consultation period will last until May 30, 2012, after which it is expected a summary of responses will be included within the intended Commission communication on good governance planned for Q The OECD has also recently published a report titled, “Hybrid Mismatch Arrangements: Tax Policy and Compliance Issues”, which deals with double non-taxation. Although the OECD report is not directly linked to the Commission’s consultation, most EU Member States are members of the OECD and 9 of the 27 EU Member States contributed to the preparation of the OECD report. It is interesting to note that the two reports were issued around the same time. Since direct taxation currently remains the competence of individual Member States and proposals by the Commission on tax matters require unanimous approval of all Member States, how and whether these proposals develop at all remains to be seen. It is very difficult at this stage to determine the extent to which any responses and the proposals may be progressed by the EU. Given the timing of the Commission consultation and OECD report, it appears double non taxation is currently an area of focus for a number of EU member states.

30 EU Withholding Tax Reclaims
Denkavit claims, Amurata claims, Aberdeen claims—different names for the same opportunity: Claims for the refund of WHT levied on dividends received by a EU shareholder on the grounds of EU law; the different names retrace the history of ECJ decisions. The European Court of Justice (ECJ) issued several decisions (e.g. Denkavit of December 14, 2006, Amurta of November 8, 2007, Aberdeen Property Fininvest Alpha Oy of June 6, 2009) in cases where a non-resident investor suffered a higher tax burden on dividends received compared to comparable resident investor. In essence the ECJ held that it is contrary to the free movement of capital under Article 56 EC (now Article 63 of the Lisbon Treaty), if EU member states impose a higher level of WHT on dividends paid to non-residents on their portfolio investments compared to distributions made to comparable resident shareholders, and where WHT credit cannot be utilized. The free movement of capital would also generally benefit to non EU investors. Opportunities of reclaims exist notably for Foreign pension funds and regulated collective investment vehicles. EU Commission has brought infringement proceedings against almost all EU member states that have imposed dividend WHT and the above ECJ cases suggest that WHT refund claims may be successful (see also French update) Source State Residence State No taxation Shareholder S Shareholder R EFTA Court, E-1/04, 23 November 2004, Fokus Bank ASA Source State: Norway ; Residence States: Germany, UK Sale and buy-back of the shares to Norway companies in order to benefit from the imputation tax credit ; challenged by the Norwegian tax authorities Art. 40 of the EEA Agreement: free movement of capital principle Comparability of situation between resident and non resident shareholders: “the mere fact that the resident shareholders have general tax liability in Norway while non-resident shareholders are subject to tax in Norway only with respect to profits which they earn there, is not sufficient to prevent the two categories from being considered as comparable situations” ECJ, 14 December 2006, C-170/05, Denkavit Source State: France ; Residence State: Netherlands Dividends paid to a parent company before the implementation of the EU PSD Directive: 5% WHT, whereas domestic parent-subsidiary regime provided for an almost total exemption Art. 43 EC ECJ, 8 November 2007, C-379/05, Amurta Source State: France ; Residence State: Portugal Art. 56 EC ECJ, 18 June 2009 C-303/07, Aberdeen Property Fininvest Alpha Oy Source State: Finland ; Residence State: Luxembourg Dividends distributed by a Finnish company to a Luxembourg SICAV Dividends Holding Company WHT Dividends

31 Financing structures Country overview
Regular debt push down / leverage remains possible — for example Czech Republic (subject to 4:1 debt to equity thin cap rules and substance doctrine) France (subject to thin cap rules (both an arm’s length and thin cap limitation (1.5:1 debt to equity or 25% of net adjusted income before tax) alternatively the group ratio can be used) and business purpose test) Germany (subject to 30% EBITDA limitation) Italy (subject to 30% EBITDA limitation and business purpose test) Poland (subject to 3:1 debt to equity thin cap rules) Russian Federation (subject to 3:1 debt to equity thin cap rules and maximum deductible interest rate is 14.85% for Ruble and 6.6% for other loans) UK (subject to thin cap rules (arm’s length test) and WWDC) N.B. Consider transactions to increase the leverage capacity (by increasing equity /EBITDA)

32 Financing structures Tax efficient structures
Foreign Low taxed entity HoldCo with I/C receivable allocated to a (deemed) branch interest free/hybrid loans Parent Parent Parent Holding Company Low Tax Holding Company I/C loan interest free / hybrid loan Holding Company Branch Subs I/C loan I/C loan Subs Subs

33 Financing structures Effective use of interest withholding tax
Profile OpCo A has existing loans payable or needs new financing attracting interest withholding tax that effectively can not be credited at the FinCo level Anticipated benefits OpCo B should be able to claim a full credit for interest withholding tax if the loan is routed through an appropriate location, for example Italy, UK and, under specific circumstances, Belgium Parent HoldCo interest interest Finco OpCo B with tax capacity Belgium/Italy/UK OpCo A With debt and WHT that cannot be reduced to 0% loan loan

34 IP Structures General considerations
Location of group IP and related management can be critical to allocation of global supply chain profits under transfer pricing principles. Traditional IP structures have focused on separation of IP ownership in a low-tax jurisdiction (or reverse hybrid) from a principal company subject to tax locally. IP planning is typically combined with deferral strategies to result in reduced global ETR. Numerous favorable regimes in European jurisdictions with varying degrees of complexity associated with structuring and ruling process Special tax regimes are emerging designed to attract jobs through ownership and development of IP and R&D activities, e.g., patent/innovation boxes. Focus on beneficial ownership and anti-abuse rules is increasing. It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

35 IP Structures EU IP Regimes
Belgium 0%–6.8% or even excess patent income deduction (which can be used to offset other income) Applies from 2008 Hungary 9.5%/5% 5% from 2013 Applies from mid-1990s France Max 15.5% (i.e., 15% plus a 3.3% surtax when applicable), minus eligible R&D expenses and depreciation allowances Applies from 1971 Spain 30% on 50% of the gross income = maximum 15% effective rate UK Patent box – 10% Expected to apply from 2013 Netherlands Innovation box – 5% Applies from 2007 Ireland 12.5%, however, effective rates of 1%–3% possible Applies from 2009 Luxembourg Broad IP regime: 0.3%–5.76%

36 IP Structures Principal/patent box structure
Intended tax treatment: Taxable profits of IPCo may be subject to a low effective tax rate under patent or innovation box regime. Amortization could also be available in addition to or as an alternative to patent/innovation box. IPCo may also be able to qualify for R&D tax credits. OpCo is typically subject to tax on a margin commensurate with functions under OECD transfer pricing principles. Considerations: Structure aligns legal and economic ownership of IP with location of key business functions. Specific supply chain structure depends on business requirements and features of patent/ innovation box regime. US considerations including taxation of outbound transfer of IP. Parent HoldCo IPCo/ Principal Sales/ sublicenses Local OpCos It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Contract manufacturing agreement Sales Contract manufacturer Customers

37 IP Structures UK – migration of IP to foreign branch
Intended tax treatment: There is no UK taxation on allocation of intangible assets to Foreign Branch. Foreign Branch can potentially qualify for exemption from UK tax where anti-diversion requirements met. Foreign Branch may be subsequently incorporated as a subsidiary of UK OpCo with gain on transfer of intangible assets deferred into shares. Considerations: Foreign Branch should be responsible for managing the intangible assets although possible for some business functionality to remain in the UK. Genuine commercial transaction requirement must be met for post-2002 intangible assets. Parent Foreign Principal UK OpCo Allocation of intangible assets Foreign Branch Intangibles and related business functions

38 Centro America Actualización Tributaria en Centroamérica, Panamá y República Dominicana

39 Reformas fiscales significantes para el 2012
2012 en Resumen  País Reformas fiscales significantes para el 2012 Costa Rica La Reforma Fiscal Integral (Proyecto de Solidaridad Tributaria) no fue aprobada. (vicios de constitucionalidad en el proceso de aprobación). Otros proyectos: - Fortalecimiento de la gestión tributaria Transparencia fiscal Manejo Eficiente de las Finanzas Públicas Guatemala Se aprobaron 2 reformas fiscales relevantes en el primer trimestre del 2012 El Salvador, Nicaragua, Panama, Honduras y Rep Dom. No se esperan reformas relevantes para el 2012. Estos países aprobaron reformas significativas en el 2010 y 2011

40 Tendencias de Política Fiscal y Recaudación en la Región
Aprobación de normas de precios de transferencia En vigencia: Panamá, El Salvador, República Dominicana, Honduras (2013) y Guatemala (2013) En proceso: Costa Rica y Nicaragua Equiparación de tarifas de impuestos de retención por pagos al exterior Firma de tratados para evitar la doble imposición Incremento en la cantidad y nivel de agresividad de auditorías fiscales Enfoque en deducibilidad de gastos por pagos al exterior Precios de transferencia Presentación electrónica de declaraciones

41 Nueva Normativa en Materia Fiscal
Guatemala: Nueva Normativa en Materia Fiscal The graphic on the divider slide is an AutoShape with a solid fill. To insert an appropriate image, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 2:1 to ensure it does not appear distorted. Click View>Master>Slide Master. Right-click on the graphic and select Format AutoShape. Click Fill>Color and Lines. Select the drop-down arrow next to Color and select the Fill Effects menu. From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the divider slide graphic. Highlight the image and click Insert. You can now preview the image before continuing. If you are happy with how it looks, click OK to continue. Otherwise, repeat the process until you are happy with your selected image. To exit from Slide Master View, click View>Normal. The change you made to the divider slide graphic should now be visible on the slide.

42 Se aprobaron 2 reformas tributarias:
Ley Anti-Evasión II (Decreto del Congreso) Publicada el 17 de febrero de 2012. Vigente desde el 25 de febrero de 2012 Ley de Actualización Tributaria (Decreto del Congreso. Publicada el 5 de marzo de 2012. Impuesto Sobre la Renta con vigencia desde el 1 de enero de 2013 It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

43 Aspectos generales del Decreto 4-2012 Ley Anti-Evasión II
Principales cambios: Simulación Fiscal/Sustancia Sobre forma Se sanciona la “simulación fiscal”, cuando se encubre el carácter jurídico del negocio que se declara, dándose apariencia de otro de distinta naturaleza o se declare falsamente lo que en realidad no se ha convenido. Impuesto de Timbre El pago de dividendos o utilidades está afecta al pago de timbres fiscales, indistintamente de su forma de pago e independientemente de que se emita documento o se realice la operación contable. Facturas especiales y retenciones por pagos locales Requisitos adicionales para deducción de gastos

44 Rentas de fuente guatemalteca
Resumen ejecutivo de la Ley de Actualización Tributaria Decreto del Congreso de la República Rentas de actividades lucrativas Régimen sobre las Utilidades de Actividades Lucrativas (25%) Régimen Opcional Simplificado sobre Ingresos de Actividades Lucrativas (5% hasta US$3,850 mensuales y 7% sobre el excedente) 5% sobre renta imponible hasta US$38,500 anuales US$1,875 base + 7% sobre excedente de US$38,500 Rentas de trabajo Rentas de fuente guatemalteca Residentes Rentas de capital inmobiliario Rentas de capital mobiliario Ganancias y pérdidas de capital Rentas provenientes de loterías, rifas, sorteos, bingos o eventos similares Rentas de capital, ganancias y pérdidas de capital 10% en general 5% para dividendos

45 Rentas de fuente guatemalteca
Resumen ejecutivo de la Ley de Actualización Tributaria Decreto del Congreso de la República Régimen sobre las Utilidades de Actividades Lucrativas (25%) Rentas de actividades lucrativas Con establecimiento permanente Régimen Opcional Simplificado sobre Ingresos de Actividades Lucrativas (5% hasta US$3,850 mil mensuales y 7% sobre el excedente) Residentes No Rentas de fuente guatemalteca 3% noticias, películas, otras proyecciones. 5% dividendos, pasajes, fletes, seguros y reaseguros, telefonía, energía eléctrica. 10% intereses (excepto entidades bancarias con EP) 15% regalías, sueldos, pagos a deportistas y artistas, honorarios, asesoramiento, comisiones. 25% otras no especificadas Sin establecimiento permanente Normas de precios de transferencia en transacciones con partes vinculadas

46 Brazil

47 Brazil Tax Stimulus Package (enacted April 04th 2012)
Digital Inclusion Program Broad Band Special Tax Regime (REPNBL-Redes) REPORTO Automotive Industry Innovation Incentive Program (INOVAR-AUTO) Temporary Payroll Exemption for IT industries

48 Brazil Most significant changes in the Transfer Pricing legislation
Minimum requirement for the application of the Brazilian uncontrolled price method (PIC). The minimum statutory gross profit margin required when applying the Resale Price Method (PRL), for the import of goods, services or rights, range from 20% to 40% depending on the company’s industry. FOB price as basis for the PRL calculation. New transfer pricing method for import/export of commodities traded publicly. Changes to the deductibility of interest.

49 Brazil Frequently amendments in the Financial Tax (IOF)
Loans with maturity date greater than 5 years, subject to IOF at 6% over the principal amount of the loan, otherwise zero Recent case law Profits vs. dividends Goodwill amortization – recent case law on in-house goodwill

50 Brazil – acquisition structuring
Structure description US Corp creates a new Brazilian entity (SPV) or uses an existing entity for the acquisition Potential benefits Potential claim for the tax deduction of goodwill Discussion of tax/accounting treatment of goodwill vis-à-vis IFRS changes Potential debt push down on acquisition Subject to certain limitations, including thin cap rules/ limitations Merger of SPV into Target to trigger goodwill tax amortization US Corp USA Brazil SPV Downstream merger Target Consolidation regime

51 Brazil – interest on net equity (INE)
Structure description Foreign Co contributes Foreign HoldCo to Brazilian Co in exchange for shares Potential benefits Increase of the interest on equity basis for future distributions INE distributions are deductible (at 34%) at Brazilian Co (provided that the statutory limitations are observed) INE payments to Foreign Co subject to a 15% WHT (25% if paid to a low tax jurisdiction) Business purpose of transaction and exit strategy Foreign Co Capital contribution Brazilian Co Foreign HoldCo (TBD) LATAM subsidiaries

52 Colombia 9 May 2012 Mexico City, Mexico

53 Colombia Propuesta de Reforma Tributaria Actualizaciones
Actualización en control de cambios – deuda Otras actualizaciones Tratados para evitar la doble tributación

54 Reforma Tributaria - Propuestas
Colombia Reforma Tributaria - Propuestas ISR Reducción de tasa ISR – Tarifa hasta del 27% Gravamen a las ventas indirectas de acciones colombianas Dividendos Revisión de la tarifa impositiva en las zonas francas Bancarización de transacciones para poder deducir erogaciones Reformas al impuesto al patrimonio

55 Actualización en control de cambios
Colombia Actualización en control de cambios Eliminación de prohibición de deudas con partes relacionadas Intereses WHT No deducibilidad en renta presuntiva Cláusula de no discriminación

56 Otras actualizaciones
Colombia Otras actualizaciones GMF – eliminación al 2018 Deducción por investigaciones en ciencia y tecnología

57 Colombia Tratados Tarifas LEY DOMESTICA ESPAÑA CHILE SUIZA MÉXICO*
LEY DOMESTICA ESPAÑA CHILE SUIZA MÉXICO* Beneficios empresariales 33% 0% Dividendos 0% ó 33% 0%, 7% ó 33% 0% ó 15% 0% Si fueron tributados por la sociedad Intereses 14% ó 33% (Intereses sobre créditos obtenidos en el exterior) 0% con bancos 10% demás escenarios 5% banco o compañía de seguro - 15% demás casos. 5% banco o compañía de seguro - 10% demás casos. Regalías Películas cinematográficas 33% -Licenciamiento de software/explotación programas de computador 26.4% 10%

58 0% prestados desde el exterior
Colombia Tarifas (cont.) LEY DOMESTICA ESPAÑA CHILE SUIZA MÉXICO* Ganancia de capital (Venta de acciones) 33% 0% 0% cuando tuvo < de 20% del capital en un periodo de 12 meses previo a la enajenación - 17% demás casos. 0% cuando tuvo < de 20% del capital en un periodo de 12 meses previo a la enajenación - 20% demás casos. Consultoría, Servicios técnicos y asistencia técnica 11% ó 10% 10% Servicios generales 0% prestados desde el exterior 33% prestado en Colombia 0% sin EP 33% con EP * El tratado celebrado con México aún no está vigente

59 Colombia – Cuentas en participación
México K Colombia Suiza Beneficios empresariales Asociante Asociado 50% 50% $ CP

60 Actualización de temas internacionales

61 Tratados para evitar la Doble Tributación Resolución Miscelánea
Lineamientos Artículo 6 OCDE Casos Internacionales Precedentes Mexicanos It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

62 1. Tratados para evitar la doble tributación
For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 1. Tratados para evitar la doble tributación

63 1. Tratados para evitar la Doble Tributación
Tratados fiscales firmados o renegociados en el 2011 y 2012 País Tratado en vigor Regalías Intereses Dividendos E.P. Servicios Bahrein  × 10% 4.9% - 10% × Colombia 5% - 10% Hungría 5% - 10% - 15% India Kuwait Lituania N/D Panamá 5% - 7.5% Perú 15% 10% - 15% Reino Unido Sudáfrica Suiza 5% - 15% Uruguay 5% It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

64 1. Tratados para evitar la Doble Tributación: Tendencias:
a) Definición intereses Hay definiciones que remiten a la legislación local y otros son particulares de sus tratados. b) Ganancias de capital El país fuente es que mantiene el derecho de gravar las ganancias. Excepciones c) E.P. por servicios La mayoría de tratados son consistentes con el modelo de la OCDE. Sin embargo, algunos tratados consideran que existe E.P. para casos en que se prestan servicios excediendo 183 días. Algunos casos de estudio son: Bahréin, Colombia, Hungría, India, Kuwait, Panamá, Perú, Sudáfrica y Uruguay. d) Reglas anti-abuso It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

65 1. Tratados para evitar la Doble Tributación: a) Intereses - Ejemplos de definición en tratados:
País Definición Países Bajos “El término “intereses”, empleado en el presente Artículo, significa los rendimientos de créditos de cualquier naturaleza, con o sin garantías hipotecarias o cláusulas de participación en los beneficios del deudor, y especialmente las rentas de fondos públicos y bonos u obligaciones, incluidas las primas y premios unidos a estos títulos. Las penalizaciones por mora en el pago se consideran como intereses a los efectos del presente Artículo.” “Con respecto al párrafo 4 del Artículo 11, se aclara que el término “intereses” incluye los siguientes tipos de ingreso: Comisiones relacionadas con cantidades dadas en préstamo; Pagos que se efectúen con motivo de la apertura o garantía de créditos, así como pagos con motivo de la aceptación de un aval; Pagos derivados de contratos de factoraje; Ingreso derivado de la enajenación de créditos; Ingreso derivado de instrumentos financieros cuando exista una deuda subyacente; Ingreso derivado de la enajenación con descuento de títulos valor que representen deuda.” Suiza “El término “intereses” empleado en el presente Artículo, significa los rendimientos de crédito de cualquier clase, con o sin garantías hipotecarias o cláusula de participación en los beneficios del deudor y, especialmente, las rentas de valores públicos, bonos u obligaciones, incluidas las primas y premios unidos a dichos valores, bonos u obligaciones, así como el ingreso que la legislación fiscal del Estado Contratante de donde procedan los intereses asimile a los rendimientos de las cantidades dadas en préstamo.” It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

66 1. Tratados para evitar la Doble Tributación: c) Reglas Anti-Abuso – Ejemplos:
País Definición Hungría “No le serán otorgados los beneficios del presente Convenio a un residente de un Estado Contratante, si la autoridad competente del otro Estado Contratante determina que dicho residente lleva a cabo actividades empresariales activamente en el otro Estado y que el establecimiento o adquisición o mantenimiento de dicha persona y la conclusión de sus operaciones tiene como uno de sus propósitos principales la obtención de beneficios bajo el presente convenio.” Panamá Cláusula de limitación de beneficios integral. Suiza “Las disposiciones de los Artículos 10, 11 y 12 no aplicarán con respecto a ningún dividendo, interés o regalía pagada bajo, o como parte de, un “acuerdo abusivo” (conduit arrangement). El término “acuerdo abusivo” significa una transacción o serie de transacciones estructuradas de tal forma que un residente de un Estado Contratante que tenga derecho a los beneficios del Convenio reciba un elemento de ingreso derivado del otro Estado Contratante pero dicho residente pague, directa o indirectamente, todo o una parte sustancial de dicho ingreso (en cualquier momento y de cualquier forma) a otra persona que no es un residente de ninguno de los Estados Contratantes y que, de recibir dicho elemento de ingreso directamente del otro Estado Contratante, no tendría derecho, bajo un Convenio para la eliminación de la doble imposición entre el Estado del que esa otra persona es residente y el Estado Contratante en el que se origina el ingreso, o de alguna otra forma, a los beneficios relacionados con ese elemento de ingreso que son equivalentes a, o más favorables que, aquellos disponibles bajo el presente Convenio disponibles para un residente de un Estado Contratante; y el propósito principal de dicha estructuración sea el obtener los beneficios del presente Convenio. Las autoridades competentes, bajo el procedimiento amistoso, podrán acordar sobre los casos o circunstancias en donde la estructuración de un acuerdo abusivo tiene como objeto principal el obtener los beneficios de conformidad con el presente párrafo.” It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

67 2. Resolución Miscelánea
For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 2. Resolución Miscelánea

68 2. Resolución Miscelánea
Acuerdo Amplio de Intercambio de Información (I ) Integrado Separado Acuerdo multilateral Fideicomiso (I ) / A. en P. (I ) Actividades empresariales Transparencia fiscal / no E.P. Registro bancos (I y II.3.9.1) Residencia re-aseguradoras (I ) Otros It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

69 2. Resolución Miscelánea Acuerdo Amplio de Intercambio de Información
Países Integrado Alemania, Australia, Austria, Barbados, Bélgica, Brasil, Canadá, Chile, China, Corea, Dinamarca, Ecuador, España, Estados Unidos, Finlandia, Francia, Grecia, Hungría, India, Indonesia, Irlanda, Islandia, Israel, Italia, Japón, Luxemburgo, Noruega, Nueva Zelandia, Países Bajos, Panamá, Polonia, Portugal, Reino Unido, República Checa, República Eslovaca, Rumania, Rusia, Singapur, Sudáfrica, Suecia, Suiza, Uruguay Separado Antillas Neerlandesas, Bahamas, Bermuda, Estados Unidos de América, Isla del Hombre, Islas Caimán, Islas Cook, Islas Jersey, Acuerdo multilateral It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

70 3. Lineamientos Artículo 6
For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 3. Lineamientos Artículo 6

71 3. Lineamientos aplicación artículo 6
No tiene fuerza legal ¿Qué es un “impuesto”? ¿Qué es un “impuesto sobre la renta”? ¿Qué es un “impuesto sobre la renta pagado respecto de ingresos por los que se está obligado al pago de ISR en México”? No toca problemas fundamentales del artículo 6 It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

72 3. Lineamientos aplicación artículo 6 Ejemplo 1
México Regalías Regalías México País Z Paga: 100 Retención: 50 Paga: 100 Retención: 10 Entidad A Entidad B It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Mezcla: ISR 30%: Crédito: A pagar: 200 60 (60) Canastas: A B ISR 30%: Crédito: A pagar: 100 30 (10) 20 100 30 (50)

73 3. Lineamientos aplicación artículo 6 Ejemplo 2: Holding “paga” ISR a via crédito:
México Dividendo México País Z Holding Dividendo Dividendo Subsidiaria A Subsidiaria C It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Paga: 100 ISR: 10 90 Paga: 100 ISR: 50 50 Subsidiaria B Subsidiaria D

74 3. Lineamientos aplicación artículo 6 Ejemplo 3: REFIPRE
México Artículo 213: Dividendos ingresos pasivos Se acumulan en México ¿Crédito a todos los niveles corporativos? REFIPRE Dividendo REFIPRE No REFIPRE Dividendo It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. No REFIPRE Dividendo No REFIPRE

75 For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 4. OCDE

76 4. OCDE Reportes de la OCDE:
Beneficiario Efectivo: “CLARIFICATION OF THE MEANING OF “BENEFICIAL OWNER” IN THE OECD MODEL TAX CONVENTION” Establecimiento Permanente: “INTERPRETATION AND APPLICATION OF ARTICLE 5 (PERMANENT ESTABLISHMENT) OF THE OECD MODEL TAX CONVENTION” “HYBRID MISMATCH ARRANGEMENTS: TAX POLICY AND COMPLIANCE ISSUES” It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

77 4. OCDE Reporte Marzo 2012 – “Hybrid Mismatch arrangements: Tax Policy and Compliance Issues”
Ejemplos: “Hybrid Mismatch Arrangements” Definición: Estrategias que explotan diferencias en tratamiento fiscal de instrumentos, entidades y/o transferencias entre dos o más países. Resultado: Doble deducción de intereses Deducción sin acumulación correspondiente Doble crédito de ISR pagado en el extranjero Temas de política fiscal Opciones de Combate It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

78 4. OCDE Ejemplo 1: Entidad Híbrido
A Co. Intereses Entidad Híbrido Consolidación Fiscal Préstamo B Co. It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Doble deducción

79 4. OCDE Ejemplo 2: instrumento Híbrido
A Co. Capital para A Co. Instrumento Deuda para B Co. B Co. It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Deducción / no acumulación

80 4. OCDE Ejemplo 3: Transferencia Híbrido
A Co. “Repo” B Co. Préstamo compra - venta SPV It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Doble crédito por ISR pagado por SPV

81 4. OCDE Temas de Política Fiscal
Recaudación (pérdida) Competencia (pymes vs multinacionales) Eficiencia Económica (internacional más beneficioso que doméstico) Transparencia (público) Equidad (capital vs. empleo) It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

82 4. OCDE Opciones de Combate
Unificación de legislación fiscal de países (“no es posible”) Reglas anti-abuso (sustancia sobre forma; razones de negocio etc). Reglas anti-abuso específicos (no permitir deducción si sujeto a un ISR menor en el otro país). Reglas anti-abuso enfocadas a “Hybrid Mismatch Arrangements” (Tratamiento fiscal doméstico depende del tratamiento fiscal en el extranjero). Opción D es preferible It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

83 5. Casos Internacionales
For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 5. Casos Internacionales

84 5. Precedentes Internacionales:
Canadá: Caso Velcro – Beneficiario efectivo Suiza: A… A/S v.s. Swiss Federal Tax Administration India: Caso Vodafone - anti-abuso España: Caso DSM - EP

85 5. Precedentes Internacionales A. Beneficiario Efectivo: Velcro Canadá
(i) Migración a Antillas Holandesas (ii) Cesión contrato VIBV VHBV Residente fiscal en Países Bajos 90% de regalías Contrato de Licencia Regalías It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. VCI Canada

86 5. Precedentes Internacionales A
5. Precedentes Internacionales A. Beneficiario Efectivo: Velcro Canadá (parte 2) Gobierno: VHBV = “agent”, “nominee” o “conduit” Corte: Prévost Car: Posesión Uso Control Riesgo Fondos se mezclaron con otros fondos utilizados en su negocio en general It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed.

87 5. Precedentes Internacionales B. Beneficiario Efectivo: A… A/S v. s
5. Precedentes Internacionales B. Beneficiario Efectivo: A… A/S v.s. Swiss Federal Tax Administration ? LIBOR Total Return Swap: - Dividendos + Aumento Valor DK Dividendo 0% It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Suiza Corte: Beneficiario Efectivo

88 5. Precedentes Internacionales C
5. Precedentes Internacionales C. Venta indirecta de acciones: Vodafone: India HK Gobierno: Venta Cay Co. = venta indirecta de activos de fuente en India Corte: No está permitido gravamen “extra-territorial” No hay tratado India – H.K. Cambio de ley propuesta 2012 (retro-activo) H.K. en país con tratado (13(5))? Enajenación Cay Co. It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Vodafone India

89 5. Precedentes Internacionales D. DSM – España - EP
MP Suiza Tercero Venta de bienes Contrato de manufactura en consignación entrega de bienes It is possible to apply this template to exiting presentations. Have the latest presentation template open Click on the View tab and select Normal Delete all unwanted slides Click on the Insert tab from the menu bar and select Slides from Files Click on Browse. Navigate to the presentation you wish to update with the new template. Highlight the presentation and click Open Wait for the slides from the presentation to load and click on Insert All. Then click Close Check the inserted slides to ensure that the most appropriate master slide has been used on each slide To change the master applied to a slide select the slide you wish to apply a different master to then click on the Format tab from the menu bar and select Slide Design From the Used in This Presentation section choose the master you wish to apply to the slide and hover over it to reveal a drop-down arrow. Click on the arrow and select Apply to Selected Slides It is important to thoroughly check the presentation to ensure that no further formatting is needed. Maquila España

90 6. Precedentes Mexicanos
For information on applying this template onto existing presentations, refer to the notes on slide 2 of this presentation. The Input area of the Beam can be customized to reflect the content of the presentation. The Input area is an AutoShape with a picture fill. To change this, ensure you have the image you wish to use (ideally a .jpg or a .png file) in an accessible folder. The image should have a ratio of 1:1 to ensure it does not appear distorted. Acceptable images for importing into the Input area of the Beam are the three approved graphics (lines), and black and white photography or illustrations which follow the principles laid out on The Branding Zone. Color images should never be imported into this area. To create a thank you slide with a picture in the Input area of the Beam, duplicate this master slide and create a new master slide. If using the graphic on the title slide the same should be used on the thank you slide. If using a picture in the Input area of the Beam in the title slide, the same or different but related picture can be used on the thank you slide. Customize the Input area of the Beam as described below. Click on the View tab from the menu bar and select Master>Slide Master Right-click on the Input graphic and select Format AutoShape From the Fill menu, under the Color and Lines tab, click on the drop-down arrow next to Color and select the Fill Effects menu From the Picture tab, click on Select Picture. Navigate to the folder containing the image you wish to insert in the Input area. Highlight the image and tick the Lock picture aspect ratio box. Click on OK. You can now preview the image before continuing. If you are happy with how it looks, click Ok to continue. Otherwise, repeat the process until you are happy with your selected image To exit from Master View, click on View>Normal. The change you made to the Input graphic should now be visible on the title slide 6. Precedentes Mexicanos

91 6. Precedentes Mexicanos:
Establecimiento Permamente Deducibilidad limitada de “gastos a prorrata” viola las cláusulas de “No discriminación” de los TDIs. Casos de Precios de Transferencia Caso IVA transportación aérea de carga

92 Controversia

93 Qué se está auditando en México.
Cumplimiento del requisito de las deducciones para ISR Deducción de pérdida por la segregación de los elementos de la propiedad. Deducción de pérdidas provenientes de operaciones financieras derivadas. Acumulación de depósitos bancarios

94 Qué se está auditando en México.
Utilización de la tasa del 0% para efectos de IVA Deducción de gastos a prorrata realizados en el extranjero Inversiones en REFIPRES Business Restructuring para efectos de Precios de Transferencia

95 Qué se está auditando en México.
IEPS en telecomunicaciones IDE Regalías incrementables. IVA por adquisición de productos por parte de maquiladoras. Acumulación de estímulos fiscales para la base del ISR


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