2015年-德勤全球_2017_Mergers_and_Acquisitions_Tax_Guide_for_Latin_America_22页_421kb

报告摘要

M&A Tax Guide Summary for Latin America

Introduction

Latin America's growing economic profile continues to attract significant investment. M&A activity in the region is expected to increase, and investors are looking outward for opportunities. However, M&A transactions often involve complex tax and structuring considerations. Deloitte provides guidance to help companies navigate these challenges.

Core Content

This guide outlines key tax and structuring considerations for M&A in various Latin American countries. It includes information on deal structures, post-deal tax management, and exit strategies, with a focus on how these factors impact tax obligations and planning.

Main Viewpoints

M&A activity is increasing due to favorable government policies.
Tax and structuring complexities require careful planning to avoid adverse impacts on investor returns.
Deloitte offers support to investors and companies through its local M&A tax teams.
Each country has unique tax rules that affect deal structuring and post-deal obligations.

Key Information by Country

Deal Structure

Country	Asset vs Equity	Onshore vs Offshore	Foreign Investment Restrictions	Acquisition Cost Deductions	PIK Debt	Goodwill Deductibility	Capital Adjustment	Successor Liability
Argentina	Equity preferred	Either	No	Limited in equity deals	Yes	No	Yes	Yes
Brazil	Neither preferred	Onshore	Only in certain regulated industries	Available	Yes	No	Yes	Yes
Chile	Neither preferred	Both	No	Available	Yes	No	Yes	Yes
Colombia	Neither preferred	Onshore	No	Available	Yes	No	Yes	Yes
Mexico	Neither preferred	Neither	No	Available	Yes	No	Yes	Yes
Peru	Neither preferred	Onshore	No	Available	Yes	No	Yes	Yes
Venezuela	Neither preferred	Offshore	Yes	Yes	Yes	No	Yes	Yes

Corporate Income Tax Rates

Country	Corporate Income Tax Rate
Argentina	35%
Brazil	34%
Chile	25% (fully integrated), 25.5% (partially integrated)
Colombia	25%
Mexico	30%
Peru	29.5%
Venezuela	34%

Withholding Tax Rates

Type of Payment	Argentina	Brazil	Chile	Colombia	Mexico	Peru	Venezuela
Dividends to nonresident entities	35% (if applicable)	35% (if applicable)	35%	35%	35%	30%	34%
Interest to nonresident entities	15.05% / 35%	15% (reduced for non-tax haven) / 25% (tax haven)	4% / 35%	14% / 33%	5% / 40%	4.99% / 30%	4.95% / 30.6%
Royalties to nonresident entities	21% / 28% / 31.5%	15% (reduced for non-tax haven) / 25% (tax haven)	21% / 28% / 31.5%	33% / 26.4%	5% / 40%	30%	30.6%

Exit Strategy

Country	Capital Gains Tax on Domestic Seller	Withholding Tax on Sale	Specific Tax Rules for Offshore Exit	Sales/Turnover Taxes on Exit
Argentina	Yes (35%)	Yes (15% / 35%)	No	VAT, turnover tax, stamp duties
Brazil	Yes (taxed as ordinary income)	Yes (withholding tax)	Yes (nonresident capital gains tax)	No
Chile	Yes (25% / 28% / 35%)	Yes (AWIT)	Yes (AWIT)	VAT, depending on assets
Colombia	Yes (25%)	Yes (15% / 35%)	No	VAT, turnover tax
Mexico	Yes (30%)	Yes (15% / 35%)	No	VAT, turnover tax
Peru	Yes (29.5%)	Yes (15% / 35%)	No	VAT, turnover tax
Venezuela	Yes (34%)	Yes (15% / 35%)	No	VAT, turnover tax

Key Contacts

Argentina: Ricardo Ferreyra, Daniel Caracciolo, Maria Ines Del Gener
Brazil: Marcelo Natale, Daniel Yamamoto, Antenor Minto
Chile: Joseph Courand, Paula Orsorio

Additional Resources

The guide provides detailed information on tax considerations and strategies for each country.
It emphasizes the importance of consulting local M&A tax teams for further guidance.
It includes GDP data and M&A volumes for each country to provide context for investment decisions.

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