https://youtu.be/FvpdNaEBpsQ
This edition addressed issues related to global tax reform, focusing on the general principles of BEPS 2.0 and its impact on jurisdictions, including an analysis of the implications for Uruguay following the adoption of these measures.
The session also explored tax developments in the context of climate change, offering valuable insights into the energy sector and ESG challenges. It provided an in-depth look at the tax system in Argentina, focusing on practical experience regarding tax residency and the exchange of information with Uruguay. The tax outlook in Uruguay was also discussed.
The event took place on Thursday, June 29, in a hybrid format (50 participants attended in person and 80 via HyFlex®). It was organized by the Chair of Internationalization of the Accounting Profession – PwC at the School of Business and Social Sciences of Universidad ORT Uruguay.
Speakers at the 10th Uruguay Tax Conference
The speakers were Adriana Piano, CPA—a professor at the University of Buenos Aires and an adjunct professor at the UADE Foundation—; Amparo Mercader, MBA—a tax partner in PwC’s Transfer Pricing practice based in Washington, D.C., and a professor in ORT’s graduate tax programs—; Eliana Sartori, MBA—director of the Legal and Tax Department at PwC Uruguay and professor in ORT’s graduate tax programs—, Félix Abadi, CPA—partner at Rueda Abadi Pereira (RAP) and SMS Uruguay, and professor of Taxation at ORT’s School of Administration and Social Sciences—and Patricia Marques, CPA—partner in the Tax and Legal Advisory Department at PwC Uruguay and professor in ORT’s graduate tax programs—. Patricia Marques—partner in the Tax and Legal Advisory Department at PwC Uruguay and professor in ORT’s graduate tax programs—.
History and Achievements
The event featured an opening address by Dr. Nicolás Gambetta—academic coordinator of ORT’s graduate programs in Accounting and Taxation and professor of Corporate Sustainability. Dr. Gambetta noted that this conference was able to reach its tenth edition thanks to the efforts of many people, and especially its participants, “who have made this conference a success.”
He noted that the graduate programs in international taxation offered by ORT’s School of Graduate Business Studies—the Master’s in International Taxation and the Specialization Diploma in International Taxation—which began in 2022, are largely the result of the progress made over the past ten years of conferences.
Gambetta reviewed the history of the Uruguay Tax Conference, noting that it began in Punta del Este, where it was held eight times, and adding that, over the past ten years, it has attracted more than a thousand participants.
From its first edition in Punta del Este in 2013, through the editions in Montevideo, and its adaptation to the challenges posed by the pandemic in 2020, the Uruguay Tax Conference has brought together more than twenty speakers and created a valuable networking opportunity.
Over the past ten years, it has served as a unique platform for sharing knowledge, creating opportunities, and strengthening the country’s community of tax professionals.
Global trends in taxation
The first speaker at the 10th Uruguay Tax Conference was Amparo Mercader, MBA, who spoke about how much the world has changed in terms of trade.
“Taxes today represent the convergence of economic policy, social policy, and geopolitics, and serve as a fundamental tool for navigating the global changes currently taking place.”
From a business perspective, the expert noted that there are three trends currently setting the agenda.
- First, the geopolitical tension between China and the United States.
- Second, the integration of artificial intelligence into the workplace. Mercader noted that, while it is not clear exactly what will happen in each sector, it is clear that it is having—and will continue to have—a major impact.
- Third, climate change.
Finally, he mentioned a potential agreement between the United States and Uruguay. He noted that "this project would give Uruguay the opportunity to continue making progress toward accessing the U.S. market."
Global tax reform
Eliana Sartori, MBA, was the second speaker.
The expert spoke about BEPS 2.0, its global implementation, the impact of Pillar 2 on tax objectives, and Uruguay’s roadmap.
The BEPS project was launched in 2013.
“The 15 actions of the OECD’s BEPS plan have now been translated into concrete measures and no longer refer to the objectives set ten years ago,” Sartori said.
Climate change
Patricia Marques, Esq., spoke about the evolution of taxation in the context of climate change (insights from the energy sector and ESG challenges).
The expert noted that ESG refers to three interconnected aspects that are equally important: environmental, social, and governance.
He pointed out that the environmental sector deals with natural resources, biodiversity loss, pollution, and climate change. “There are a number of different issues, each requiring different solutions.”
Marques stated that it is essential to “examine biodiversity in ever greater depth.”
He also noted that there are currently green taxes around the world on pollution, energy, carbon emissions, waste production and disposal, the use of natural resources, as well as the use of motor vehicles and other modes of transportation.
On the other hand, there are also green incentives, “which, by contrast, aim to reward environmentally friendly initiatives.”
Argentine Taxation
Attorney Adriana Piano gave a presentation on the Argentine tax system.
His presentation focused on practical experience with tax residency and the various mechanisms for the exchange of information between Argentina and Uruguay.
Among these mechanisms, he mentioned the Common Reporting Standard (CRS) and highlighted the memorandum established in 2022.
“Recently, in 2022, Argentina and Uruguay signed a memorandum of understanding between the National Securities Commission (CNV) of the Argentine Republic and the Superintendency of Financial Services of the Bank of Uruguay to exchange information, particularly in this case, regarding registration, enrollment, and authorization to operate in securities markets, with the aim of achieving greater transparency in these types of transactions.”
He added, “Over the past 10 years, there has been significant progress, but this trend is only accelerating. Borders are becoming increasingly porous, and we must remain vigilant in the face of this change.”
Tax Outlook: Uruguay
Finally, Abadi presented the tax outlook for Uruguay (the combined effect of potential international and domestic stimulus measures).
“Tell me what kind of tax system you have, and I’ll tell you what kind of country you have,” the expert said.
Abadi referred to the principles of tax systems: fairness, economic efficiency, simplicity, neutrality, certainty, and adequacy.
He noted that Uruguay has many strengths, but it also faces problems and challenges.
Finally, he quoted economist Paul Krugman, who said: “Before making tax changes, it is essential to reflect on the kind of state we want to build and how taxes can help achieve that.”
