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The 2005 Mexico tax reform introduced a number of new - and controversial - tax provisions, including new definitions of "tax haven" and "business profits", new thin capitalization rules and a tax deduction for cost of goods sold (rather than purchased). Additional clarification of many of these measures have now been supplied.
Also in this issue:
· Argentina: Anti-tax evasion law includes questionable provisions
· Brazil: Cost sharing in Brazil
· Chile: Mining tax finally introduced
· Colombia: Constitutional issues under arbitration clause in potential US
· CAN free trade agreement
· Ecuador: Tax harmonization within the Andean Pact
· Mexico: 2005 Tax administrative rules published
· Panama: Changes to withholding on payments to nonresidents
· Peru: Uncertainty and potential double taxation under Decision No. 578
· Venezuela: Overview of Venezuela-China tax treaty.
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