Santiago de Chile
Chilean IRS (Servicio de Impuestos Internos) issued new instructions to implement the registration under the Registry of Foreign or International Financial Institutions
On August 13, 2021 the Chilean IRS (Servicio de Impuestos Internos) issued Exempt Resolution No. 95 (Resolución Exenta No. 95), establishing the instructions to implement the registration under the new voluntary Registry of Foreign or International…
Investment arbitration news in America: the use of discovery, Ecuador's return to the ICSID Convention and Colombia's success in investment disputes
Investment arbitration has not been without its critics in recent years. Following the Achmea decision, which it has been said drove a stake through the heart of investment arbitration in the European Union, this mechanism has prompted criticism and…
Latin American Viewpoints - July 2021
NPLs and REOs: LatAm, Spain and Portugal wake up to debt market new normal
Transactions with non-performing loans (NPLs) started to take off in the second quarter of 2021, especially in Spain and Portugal. The gradual fading in continental Europe of the health impact of COVID-19, combined with the progress made in…
Software as a Service (SaaS): a challenge posed by highly complex tax rules in a digital and interconnected world
Software as a Service or SaaS, which allows remote technological support to be offered across borders, raises various questions in tax matters in an interconnected world. In this article, Garrigues tax experts analyze the tax treatment of SaaS in…
The fintech industry is making inroads in Latin America with new legislation
The different jurisdictions in the Latin American region are proposing new regulatory schemes on 'fintech' matters. In this article we analyze the main regulatory trends in Chile, Colombia, Mexico, Peru and Brazil.
Andean Community arbitrators need to request a preliminary interpretation in order to apply community laws
The Andean Community Court of Justice (Tribunal de Justicia de la Comunidad Andina or TJCA) has clarified the cases in which arbitrators can request a “preliminary interpretation” (interpretación prejudicial) in the arbitration…
Pro-sandbagging and anti-sandbagging clauses in M&A deals: regulation in Latin America
When negotiating a corporate merger or acquisition, both buyers and sellers would benefit from agreeing to and contractually specifying their position about sandbagging, which is when a buyer knows that a seller’s representation or warranty is…
Infrastructure and project finance in Latin America: growth in projects forecast for 2021
The effects of the pandemic have prompted Latin American governments to adopt measures to promote public-private partnerships (PPPs), public works and privatizations. Garrigues provides an analysis of the situation and trends in the infrastructure…
NPLs and REOs in Latin America, Spain and Portugal: 2021, a year of transition for debt markets
Debt markets continue to feel the calming — even sedative — effects of the battery of support measures rolled out to counteract the decline in business activity due to the effects of COVID-19. Jumbo deals involving non-performing loans (…
COVID-19: The law on fortuitous events or 'force majeure' and termination of contract due to unforeseen circumstances in Latin America
The situation caused by the pandemic has brought an increase in breach of contract proceedings around the world, including in Latin America. It is therefore helpful to know how concepts such as fortuitous, force majeure, and hardship events are…
Remote work: COVID-19 prompts new legislation in Latin America
Teleworking, working from home or remote working gained particular importance in 2020 due the various measures adopted by governments and employers to curb COVID-19 infections. So an understanding is needed of the new rules and situation of the…