Latin America Tax Climate Worsens

Time to comply with tax forms and number of payments grow in Latin America.

BY LATINVEX STAFF

Both Chile and Colombia worsened, while Guatemala and Paraguay improved, according to the latest Latin America Tax Ranking from Latinvex.

The ranking, which is based on data from PwC, KPMG and The World Bank, measures the tax environment in 18 countries based on corporate tax rate and time and number of payments necessary to comply with tax regulations.

While the overall average tax rate remained the same (27 percent), both the time to comply with tax forms and the number of tax payments increased.

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Article Keywords: CAFTA, Chile, Colombia, Costa Rica, Guatemala, Honduras, KPMG, Mercosur, Mexico, Nicaragua, Pacific Alliance, Paraguay, PwC, Venezuela, World Bank

Ranking Keywords: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela