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Explaining Developments in Digital Tax in Latin America

Explaining Developments in Digital Tax in Latin America

Economies in Latin America are changing rapidly. One important regulatory development for many countries in the region is digital tax, because it captures services delivered online or electronically. The OECD claims that Latin American economies are making real progress to address the tax challenges arising from the digitization of the economy. This international entity also expects that further digital tax developments in Latin America provides stability and certainty in the international tax system.  Managing your company while keeping a careful watch over new regulations is one of the challenges to overcome while doing business in Latin America.  We provide an explanation of digital tax developments in several emerging and developing economies in Latin America, so your business understands its obligations when offering digital services in these markets. Digital tax developments in Argentina  Latin American countries are adapting to a new digital age with the establishment of digital services taxes across the region. The Argentine government levied taxes for digital services under law 27,430 and on a general basis. This regulation includes services carried out through the Internet network or any adaptation or applications, platforms or technology used by the Internet or other networks through which equivalent services are provided. By their nature, these services are basically automated and require minimal human intervention, regardless of the device used for its download, display or use. The regulation of digital services in Argentina has been in place since 27...

Opportunities for Canadian Mining Companies in Latin America

Opportunities for Canadian Mining Companies in Latin America

Canadian mining companies in Latin America have experienced significant successes in their operations in the region. Barrick Gold, Yamana Gold and First Quantum Minerals are among many Canadian companies benefiting from Latin America’s large reserves of natural resources. From Mexico down to Chile and Argentina, Canadian investment in the region has reached unseen figures. It is not only the excavation of minerals that provides opportunities for mining companies. There are also extensive opportunities for Canadian mining service companies. The growth in the natural resource sector has created a whole new service market. The provision of services that support mining operations has taken off in Latin America. Expand your Canadian mining company to Latin America Canadian companies that have capabilities and key assets should consider transferring their expertise to Latin American markets.  A consumer- and producer-wide focus on sustainability requires innovation and alternative energy usage. Here, we have look at some of the biggest opportunities to explore for Canadian mining companies in Latin America. Canadian companies that have capabilities and key assets should consider transferring their expertise to Latin American markets. Battery electric vehicles The increasing popularity of electric cars in developed markets is very obvious. Lithium, graphite cobalt and nickel are used in batteries and investment in these minerals and metals has been colossal since the rise of EVs. Uber fleets are dominated by Toyota Prius models and Tesla charging stations are popping up in...

Biz Latin Hub Embraces Legal Tech Innovation in Latin America

Biz Latin Hub Embraces Legal Tech Innovation in Latin America

We’re proud to announce the development of 2 initiatives that aim to improve our service delivery and customer experience: the Proposal Generator System and Client Onboarding Platform. Biz Latin Hub is embracing legal tech innovation in Latin America. We’re proud to announce the development of 2 initiatives that aim to improve our service delivery and customer experience: the Proposal Generator System and Client Onboarding Platform. Legal tech is a relatively new phenomena impacting firms and legal providers worldwide. It’s one of many movements where technology engages with some of the most traditional sectors of an economy to improve the way people do business. We’re proud to participate in legal tech innovation initiatives of our own, to continue offering market-leading corporate law and accounting services to businesses expanding into Latin America and the South Pacific. What is legal tech innovation? Legal tech, short for legal technology, is a catch-all term to describe the way new technologies are being applied to certain aspects of the legal sector in a market. Legal services are a staple element of an economy’s services, and businesses and people call upon legal service providers for advice on any number of legal situations. In particular, businesses may seek advice on corporate, intellectual property, tax, property, employment, and immigration law, among others. Legal tech innovation optimizes a firm’s ability to deliver their core legal services to clients. Improvements can include greater digitization and automation of internal processes, using new platforms...

The Future of Legal Tech Business in Argentina

The Future of Legal Tech Business in Argentina

Argentina is one of Latin America’s largest economies, and shows promise for foreign businesses into the future despite a tumultuous year. The realm of technology and innovation is forging new commercial opportunities for entrepreneurs and expanding multinationals, including in legal tech business in Argentina. Technological enhancement of longstanding, traditional legal services opens the sector up to a larger proportion of Argentina’s population, improves services offered by law firms and overall customer experience. We explore the opportunities for foreign companies looking to set up a business in Argentina in the legal tech space. Plus, we explain how Biz Latin Hub is jumping on the bandwagon with our own legal technology innovations. Tech business in Argentina and Latin America The realm of technology and innovation is forging new commercial opportunities for entrepreneurs and expanding multinationals, including in legal tech business in Argentina. Latin America is undergoing a widespread technological revolution that affects many of their staple sectors, such as agriculture and agribusiness, banking, and retail. The region has shown signs of development in fintech, agritech, and e-commerce capability, including introducing new laws offering a framework for businesses and consumers alike to engage with these innovative industries safely and securely. It seems that next in line for a technological makeover - for those larger economies in Latin America, at least - is the legal sector. Emerging legal tech businesses in Argentina that show promising signs of growth and...

Evolution of Fintech in Latin America

Evolution of Fintech in Latin America

As a region, Latin America’s economy is reportedly now growing faster than Asia’s. Progressive governments are front-footing legislative changes and preferential regulatory treatments for investors, both local and foreign, to boost business activity and economic growth. New prospective partners are seeking cooperation commitments and free trade agreements with Latin American countries and regional platforms such as MERCOSUR and the Pacific Alliance. Swelling middle classes are demanding more from producers and exporters, and buying and using phones to engage with the commercial landscape. As a result, technological innovation is sweeping through previously neglected industries in Latin America. In particular, financial technology (fintech) is developing rapidly to keep up with a momentous shift in the region towards online financial interaction. Evolution in Latin America - What is Fintech? Crucially, the fintech industry connects technology with financial services, enabling the latter to become more accessible and convenient for people. Banking through online applications is one example of this; processes such as checking a bank balance or transferring money is now faster through the application of automated functionalities. Fintech has many branches that aren’t just limited to making bank transactions online. It has put established banking leaders and their products under immense pressure with easier access for customers to functions like: Peer-to-peer lending, with quicker approval times and lower interest rates Approval times for seeking life insurance Banking with...

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