Corporate Tax | Management
Approximately 500 American companies operate in Argentina—but on November 3 that number abruptly decreased by one as the country’s tax authority, the Administración Federal de Ingresos Públicos (AFIP) revoked the company’s registration, accusing P&G of tax and accounting fraud.
Newsmakers | Argentina
Argentine president Cristina Fernández de Kirchner in early October triggered the resignation of the head of the country’s central bank, Juan Carlos Fabrega, by criticizing him for not reducing manipulation of the country’s currency. His replacement, Alejandro Vanoli, formerly the head of the country’s securities regulator, CNV, doesn’t look likely to set Argentina on a better path.
TRENDS | SNAPSHOT: PANAMA
Conservative Varela surprises with progressive social agenda.
Although the hardships are far from over, the Spanish economy and banking system may finally be on the mend, with three components interrelating in a virtuous cycle: rebounding exports, rising consumer confidence, and a commitment to reform geared toward economic adjustments.
Brazilian Finance minister Guido Mantega may be dealing with both internal and external headwinds, but he—and Brazil—are still standing.
Recent economic reforms in Mexico and upgrades by rating agencies have strengthened Mexico’s position in global markets. The country’s economic performance is improving as well.
Infographic: A look at key figures affecting the economy and growth in Brazil.