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Trade dynamism in Central America triggers transfer pricing filings | RSM Latin America
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</div> </div> </div> </div> </div> </div> <div id="ga_analytics" data-type="publication-article" data-sitename="latinamerica" data-drupal-version="1"></div> <article data-history-node-id="61" class="node node--type-publication-article node--promoted node--view-mode-full clearfix"> <header> </header> <div class="node__content clearfix"> <div class="field field--name-field-main-sections field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item paragraph--banner_header"> <div class="paragraph paragraph--type--banner-header paragraph--view-mode--default" id="article_header"> <div class="banner-header--background-image progress-pattern- "> <div class="background--gradient-overlay d-block d-xl-none"></div> <div class="field field--name-field-background-image field--type-image field--label-hidden field__item"> <img loading="lazy" srcset="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/responsive_background_images_mobile/public/01%20Global%20assets/01_Banners/02_Portraiture%20banners%203840x960px/jon-01-rsm-banner-sub-page.jpg 767w, https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/responsive_background_images_tablet/public/01%20Global%20assets/01_Banners/02_Portraiture%20banners%203840x960px/jon-01-rsm-banner-sub-page.jpg 1200w, https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/responsive_background_images/public/01%20Global%20assets/01_Banners/02_Portraiture%20banners%203840x960px/jon-01-rsm-banner-sub-page.jpg 3840w" sizes="100vw" width="1200" height="300" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/responsive_background_images/public/01%20Global%20assets/01_Banners/02_Portraiture%20banners%203840x960px/jon-01-rsm-banner-sub-page.jpg" alt="" /> </div> </div> <div class="container-xl paragraph--container justify-content-between align-items-end align-items-md-center"> <div class="banner-header--content pe-lg-4 col-lg-8"> <div class="banner-header--title blue-highlight--outer_div"> <h1 class="article_h1_inner highlight"> <span> Trade dynamism in Central America triggers transfer pricing filings </span> </h1> </div> <div class="banner-header--description blue-highlight--outer_div"> <h1 class="body-24 highlight"> <span class="">Central America's economic boom brings complex transfer pricing challenges. RSM’s specialists in Central America discuss how to navigate these regulations and mitigate risks.</span> </h1> </div> <div class="banner-header--details d-flex"> <div class="field field--name-field-published-date field__item py-0 blue-highlight--datetime"> <span class="inner_div">August 6, 2024</span> </div> <div class="read_time py-0 blue-highlight--datetime "> <div content="3" class="field field--name-field-reading-time field--type-integer field--label-hidden field__item">3 min. read</div> </div> </div> </div> </div> </div> </div> <div class="field__item paragraph--key_points"> <div class="paragraph paragraph--type--key-points paragraph--view-mode--default" id="key_points_left_aligned"> <div class="container-xl"> <h2 class="keypoints--title"> <div class="field field--name-field-title field--type-string field--label-hidden field__item">Key takeaways:</div> </h2> <div class="keypoints--content"> <div class="field field--name-field-key-points field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item col-12 col-lg-4"> <div class="paragraph paragraph--type--key-point paragraph--view-mode--default d-sm-flex"> <div class="keypoint--icon d-flex justify-content-center pb-3 pb-md-0"> <div class="field field--name-field-icon field--type-image field--label-hidden field__item"> <img loading="lazy" srcset="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/crop_image/public/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_network%20-58.png 1x" width="141" height="141" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_network%20-58.png" alt="Network" /> </div> </div> <div class="keypoint--description"> <div class="field field--name-field-description field--type-string-long field--label-hidden field__item">With ten new trade agreements recently signed and a growing economic diversification, Central American countries have fostered a robust trade network in recent years.</div> <div class="keypoint--optional-link"> </div> </div> </div> </div> <div class="field__item col-12 col-lg-4"> <div class="paragraph paragraph--type--key-point paragraph--view-mode--default d-sm-flex"> <div class="keypoint--icon d-flex justify-content-center pb-3 pb-md-0"> <div class="field field--name-field-icon field--type-image field--label-hidden field__item"> <img loading="lazy" srcset="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/crop_image/public/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_conference.png 1x" width="141" height="141" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_conference.png" alt="" /> </div> </div> <div class="keypoint--description"> <div class="field field--name-field-description field--type-string-long field--label-hidden field__item">It is vital for middle-market companies operating in Central America to pay attention to the analysis requirements regarding transfer pricing.</div> <div class="keypoint--optional-link"> </div> </div> </div> </div> <div class="field__item col-12 col-lg-4"> <div class="paragraph paragraph--type--key-point paragraph--view-mode--default d-sm-flex"> <div class="keypoint--icon d-flex justify-content-center pb-3 pb-md-0"> <div class="field field--name-field-icon field--type-image field--label-hidden field__item"> <img loading="lazy" srcset="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/crop_image/public/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_collaboration.png 1x" width="141" height="141" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/01%20Global%20assets/03_Icons%20140x140px/Icons-blue_collaboration.png" alt="" /> </div> </div> <div class="keypoint--description"> <div class="field field--name-field-description field--type-string-long field--label-hidden field__item">The transfer of tangible assets, intangible services and intercompany financing are the main documents required by authorities.</div> <div class="keypoint--optional-link"> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="field__item paragraph--content_body"> <div class="paragraph paragraph--type--content-body paragraph--view-mode--default" id="content_body"> <div class="container-xl paragraph--container"> <div class="col-12 col-lg-8"> <div class="clearfix text-formatted field field--name-field-body field--type-text-with-summary field--label-hidden field__item"><p><em>Economic integration and productive specialisation have been key to the evolution of Central America in recent years. Regulations have also accompanied this growth and it is important for middle market companies to understand the transfer pricing regulatory framework that must be complied with in these countries.</em></p><p>Trade between Central American countries has seen a constant growth in recent years, driven by economic integration and productive specialisation in the region. According to <a href="https://www.worldbank.org/en/news/press-release/2022/11/10/acelerar-el-comercio-regional-e-internacional-es-clave-para-el-desarrollo-inclusivo-y-sustentable-de-america-central">Carlos Felipe Jaramillo</a>, World Bank Vice-President for Latin America and the Caribbean, “Central American economies have made substantial progress in trade facilitation and have signed an average of 10 trade agreements, almost twice as many as the Latin American and Caribbean region.” This <a href="https://cosefin.org/wp-content/uploads/2023/08/Informe-Economico-Regional-2022-2023.pdf">trade dynamism</a> has led to a significant increase in transactions between related parties, generating the need for a careful analysis of transfer pricing.</p><p>The economic diversification of Central American countries has led to a robust commercial exchange landscape. Among the main products at the centre of this trade boom, goods such as textiles, processed foods, and chemical products, as well as services such as logistics, manufacturing, and technology, stand out as the key areas of trade between the countries in the region.</p><p>Furthermore, given that one of Central America's main competitive advantages is its geographical position, the region has the potential to increase nearshoring processes that drive even greater economic and social growth. This means that businesses need to have robust, regionally-focused logistics strategies in order to reach their growth objectives.</p><p>A decade after the implementation of transfer pricing in Central America, middle-market companies operating in the region must be vigilant to properly comply with their obligations. El Salvador and Panama were the first countries to establish a regulatory framework on transfer pricing and Costa Rica, Guatemala, Honduras and Nicaragua did the same sometime later. Thus, the issue of transfer pricing has been gaining greater importance for local tax administrations, urging taxpayers to correctly document transactions between related parties.</p><p>Due to the nature of business activities, the region has three main transactions that generate an obligation of a transfer pricing study:</p><p><strong>Transfer of tangible goods</strong>: Companies that exchange physical goods, such as raw materials or finished products, must carefully evaluate the prices at which these transactions are carried out to ensure that they reflect market conditions.</p><p><strong>Intangible services</strong>: Intangible services transactions, such as intellectual property, brands, and technology, require detailed transfer pricing analysis to avoid base erosion and ensure a fair allocation of revenue between related entities.</p><p><strong>Intercompany financing</strong>: Loans and other forms of financing between related parties must conform to market conditions to avoid the imposition of undue interest and guarantee an equitable financial structure.</p><p>This is not all. The main challenge that the region faces in terms of transfer pricing is adapting to the changing dynamics of intraregional trade. The application of appropriate methodologies, adequate documentation and close collaboration with tax authorities is essential to ensure regulatory compliance and avoid tax risks.</p><p>The growth of intraregional trade in Central America has generated an increase in transactional complexity, highlighting the importance of carrying out transfer pricing studies that are correctly supported and with business sense. At RSM, we can help businesses to properly manage these analyses to ensure regulatory compliance and contribute to trade stability and sustainability in the region.</p><p>If you want to learn more or get in touch, please visit our <a href="https://www.rsm.global/latinamerica/en">Latin America page</a>.<br> </p></div> </div> </div> </div> </div> <div class="field__item paragraph--external_contributors"> <div class="paragraph paragraph--type--external-contributors paragraph--view-mode--default"> <div class="container-xl" id="external_contributors"> <div class="paragraph--contributors--wrapper justify-content-center align-items-center d-flex flex-column"> <div class="paragraph--contributors--borders col-12 col-lg-8"> <div class="paragraph--contributors--title"> <h4> <div class="field field--name-field-title field--type-string field--label-hidden field__item">Contributors</div> </h4> </div> <div class="paragraph--contributors--content d-lg-flex flex-wrap"> <div class="paragraph paragraph--type--external-contributor paragraph--view-mode--default col-12 col-sm-6 col-xl-4 mb-3" id=""> <div class="contributor d-flex" > <div class="contributor--profile-picture col-2 col-md-4"> <div class="field field--name-field-profile-picture field--type-image field--label-hidden ratio ratio-4x3 field__item"> <img loading="lazy" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/authors_190px_width/public/media/profile-pictures/Maria-Fernanda-Sazo.jpg" width="190" height="143" alt="María Fernanda Sazo" class="image-style-authors-190px-width" /> </div> </div> <div class="contributor--profile-details col-10 col-md-8"> <div class="field--name">María Fernanda Sazo</div> <div class="field--job-title"> <div class="field field--name-field-job-title field--type-string field--label-hidden field__item">Transfer Pricing Practice Leader</div> </div> <div class="field--firm-location"> <div class="field field--name-field-firm-location field--type-string field--label-hidden field__item">Guatemala</div> </div> </div> </div> </div> <div class="paragraph paragraph--type--external-contributor paragraph--view-mode--default col-12 col-sm-6 col-xl-4 mb-3" id=""> <div class="contributor d-flex" > <div class="contributor--profile-picture col-2 col-md-4"> <div class="field field--name-field-profile-picture field--type-image field--label-hidden ratio ratio-4x3 field__item"> <img loading="lazy" src="https://res.cloudinary.com/rsmglobal/image/fetch/t_default/f_auto/q_auto/https://www.rsm.global/latinamerica/sites/default/files/styles/authors_190px_width/public/media/profile-pictures/Devin-Argueta.jpg" width="190" height="143" alt="Devin Argueta" class="image-style-authors-190px-width" /> </div> </div> <div class="contributor--profile-details col-10 col-md-8"> <div class="field--name">Devin Argueta</div> <div class="field--job-title"> <div class="field field--name-field-job-title field--type-string 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