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Overview of transfer pricing regimes in Latin America

In recent years, in different Latin American countries, modifications have been made to the transfer pricing regime. Thus, this matter in Colombia, Paraguay, and Costa Rica will be assessed in this document.

Regarding the transfer pricing regime in Colombia, the informative declaration must be filed when there are operations with related parties abroad or in free trade zones and report: Gross equity greater than or equal to COP$3,630,800,000 (100,000 UVT) and/or Gross income greater than or equal to COP$2,214,788,000 (61,000 UVT).

Likewise, the local report must be filed when transactions are carried out with foreign related parties or free trade zones over COP $1,633,860,000 (45,000 UVT) per type of operation and/or Transactions are carried out with non-cooperating jurisdictions, low or no tax jurisdictions, and/or preferential tax regimes, over COP $363,080,000 (10,000 UVT) per type of operation.

In both cases, they must be presented according to the last digit of the NIT:

Concerning the transfer pricing regime in Paraguay, General Resolutions 108/21 have been published, creating a Register of PAPT (Profesionales Autorizados de Precios de Transferencia – Authorized Transfer Pricing Professionals), in which professionals interested in preparing the ETPT (Estudio Técnico de Precios de Transferencia – Techincal Transfer Pricing Study) must register for the subjects obliged to submit it to the SET (Subsecretaría de Estado de Tributación – Undersecretariat of State for Taxation).

On the other hand, through resolution DGT-R-44-2016, the obligation to file the informative declaration of transfer prices was established in Costa Rica. Currently, the obligation to keep the information corresponding to such informative declaration is maintained, which may be required individually and therefore must be made available to the Tax Administration, which must communicate the date at least 3 months in advance, the means and scope of the presentation of the informative declaration, which so far has not been communicated.

Sources: Dian / SCIJ / Set Tributación 17/01/22

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