The document discusses the history and development of global markets. It notes that trade between settlements, cities, and continents has been intrinsically linked to humanity's ability to negotiate and exchange goods since the earliest agricultural settlements. Early examples that established global trade links include the Silk Road in the 1st century BC and the vast territories of empires like China and Rome which collaborated the development of new trade routes. Technological evolution, especially during the Age of Discovery led by Portugal, Spain, Holland, and England, further advanced global trade by enabling navigation around Africa and the discovery of new trade routes. The development of global markets has thus been an ongoing process intrinsically linked to humanity's trading abilities and the expansion of transportation and communication networks over centuries.

1. 19 Edition
April 2022
A M E R I C A
REGIONAL MAGAZINE
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¿Cuál es el futuro
del comercio
internacional?
What is the future
for international
trade?

2. TGS es un network global dinámico de firmas independientes que brindan servicios de auditoría, impuestos,
servicios legales corporativos, consultoría de negocios y outsourcing. Con más de 4,300 profesionales en más
de 59 países, las firmas multidisciplinarias de TGS brindan apoyo a los clientes mediante el diseño global,
soluciones sostenibles y la prestación de servicios de consultoría empresarial. Apoyamos los 10 principios
del Pacto Mundial sobre Derechos Humanos, Trabajo, Medio Ambiente y Anticorrupción. Nuestra cultura,
estrategias y operaciones están alineadas con los principios universales del desarrollo sostenible.
TGS is a dynamic global business network of independent firms providing audit, tax, corporate legal services,
advisory and outsourcing. With more than 4,300 professionals in more than 59 countries, the multidisciplinary
TGS member firms support clients by designing global, sustainable solutions and providing a one-stop-shop for
business advisory. We support the 10 principles of the Global Compact on Human Rights, Labour, Environment
and Anti-Corruption. Our culture, strategies and operations are aligned with universal principles of sustainable
development.
2

3. Contenido / Content
Beneficios tributarios referentes a la exportación en EE.UU.
U.S. Export Tax Benefits 6
Os mercados globais e a contabilidade global
Global Markets and Global Accounting 10
Mercados globales – tratados celebrados en forma global
Global Markets – Agreements Entered into Globally 16
Internacionalización de negocios
Business Globalization 20
3

4. 4
¿Cuál es el futuro del comercio internacional?
En los últimos años, los presidentes populistas de las principales naciones y la pandemia han
contribuido a un giro hacia adentro. La guerra a las puertas de la Unión Europea pone de relieve la
necesidad de una independencia estratégica, especialmente en términos de energía, agricultura y
semiconductores. ¿Debemos temer una restricción del comercio internacional?
No según la Organización Mundial del Comercio, que afirma que “el volumen del comercio mundial
ha aumentado enmás del 4000% desde los primeros días del GATT en la década de 1950”. Nuestras
economías son claramente interdependientes.
Si Occidente no puede desarrollarse sin China, entonces China no puede desarrollarse sin Occidente.
Nuestras propias economías están impulsando el multilateralismo. Sin embargo, es cierto que las
cadenas de valor están evolucionando debido no solo a los importantes avances en las tecnologías
de la información y la robótica, sino también a las nuevas expectativas de los consumidores y a las
crecientes limitaciones climáticas. Al mismo tiempo, las alianzas económicas están evolucionando y
adaptándose como la nueva Asociación Económica Integral Regional y cada país estáconstantemente
adaptando sus regulaciones y normas tributarias.
Más que nunca, se trata de entender los problemas económicos en un sentido global. Es vital incluir un
examen de la sostenibilidad de cada modelo de negocio. El mundo es cada vez más complejo y nuestra
misión, dentro de TGS, es ayudarte a descifrarlo y apoyar tus proyectos internacionales para alcanzar el
éxito sostenible.
EDITORIAL

5. What is the future for international trade?
In recent years, populist presidents of major nations and the pandemic have contributed to a turning
inward. The war on the doorstep of the European Union highlights the need for strategic independence
particularly in terms of energy, agriculture and semiconductors. Should we fear a restriction of
international trade?
Not according to the World Trade Organization who state that, “the volume of world trade has
increased by more than 4000% since the early days of GATT in the 1950s." Our economies are clearly
interdependent.
If the West cannot develop without China then China cannot develop without the West. Our economies
themselves are pushing for multilateralism. It is true, however, that value chains are evolving due
not only to major developments in information and robotic technologies but also to new consumer
expectations and growing climate constraints. At the same time, economic alliances are evolving and
adapting like the new Regional Comprehensive Economic Partnershipand each country is constantly
adapting their regulations and tax rules.
More than ever, it is a question of understanding economic issues in a global sense. It is vital to include
an examination of the sustainability of each business model. The world is becoming more and more
complex and our mission, within TGS, is to help you decipher it and to support your international
projects to achieve sustainable success
Marc DESJARDINS
TGS CEO
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6. 12
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7. A los EE. UU. siempre se la considerado como una
jurisdicción con altos impuestos, sin embargo, ese no
es el caso de los impuestos federales aplicados a las
ganancias relacionadas con la exportación.
Corporación de Ventas Internacionales Domésticas
con Cobro de Intereses
Durante los últimos 50 años la ley fiscal de los EE.
UU. ha incluido beneficios fiscales relacionados con
la fabricación de bienes en el territorio de los EE. UU
para la exportación. Hoy solo queda uno de estos
beneficios, la Corporación de Ventas Internacionales
Domésticas con Cargo de Interés o IC-DISC. El IC-DISC
está destinado a promover empleos en la industria
manufacturera de los Estados Unidos mediante
la reducción de la obligación tributaria federal
relacionada con las ventas de exportación. Hay
muchos requisitos a cumplir para poder mantener
estos beneficicios adecuadamente del IC-DISC,
pero no los tocaremos en este artículo. El IC-DISC se
refiere a una corporación especial que está exenta de
impuestos federales y gana comisiones cuando
The U.S. has always been considered a high tax
jurisdiction, however that is not been the case with
regard to the federal taxation of export related profits.
Interest-Charge Domestic International Sales
Corporation
The U.S. tax law has included a number of tax benefits
related to the U.S. manufacture of goods for export
over the past 50 years. Today only one of these
benefits remains, the Interest-Charge Domestic
International Sales Corporation or IC-DISC. The IC-
DISC is intended to promote U.S. manufacturing jobs
by reducing the federal tax liability related to export
sales. There are many requirements that must be met
to properly maintain and benefit from the IC-DISC
and these are beyond the scope of this discussion.
The IC-DISC is a special corporation that is exempt
from federal tax and it earns commissions when a
related operating company makes qualified export
sales of goods manufactured in the U.S. The only
service businesses that can qualify are those providing
architectural or engineering services.
13
7
BENEFICIOS TRIBUTARIOS REFERENTES A LA EXPORTACIÓN EN EE.UU.
U.S. EXPORT TAX BENEFITS

8. una empresa operativa relacionada realiza ventas
de exportación calificadas de bienes fabricados en
los EE. UU. Las únicas empresas de servicios que
pueden calificar son aquellas que brindan servicios de
arquitectura o ingeniería.
El IC-DISC brinda beneficios fiscales federales a las
empresas gravadas como corporaciones, así como a
las empresas gravadas como sociedades. El beneficio
para una corporación es que puede deducir la
comisión pagada al IC-DISC con lo que el impuesto a
nivel corporativo se ve eliminado. Generalmente, el IC-
DISC es propiedad de los accionistas de la corporación
y pueden recibir dividendos del IC-DISC en forma de
un “dividendo deducible” para los accionistas de la
corporación. Los ahorros en impuestos pueden ser
tan sustanciales como el 21% de la comisión pagada al
IC-DISC.
El beneficio para una sociedad es ligeramente menor.
En los EE. UU., los dividendos de un IC-DISC se gravan
a una tasa impositiva más baja a nivel de socio que la
de los ingresos comerciales ordinarios de la sociedad
gravada a nivel de socio. Aquí el beneficio fiscal es un
diferencial de tasa entre los ingresos ordinarios del
negocio y los ingresos por dividendos. Los ahorros en
impuestos oscilan entre 5,8% y 13,2% de la comisión
pagada al IC-DISC.
En circunstancias limitadas, el IC-DISC puede retener
las ganancias durante un período prolongado
de tiempo, lo que genera un mayor ahorro fiscal
inmediato, pero también genera la necesidad de pagar
intereses al IRS sobre el impuesto diferido.
Ingresos Intangibles Derivados del Extranjero
A partir de 2018, se introdujo un nuevo incentivo fiscal
a la exportación en la ley fiscal de los Estados Unidos.
The IC-DISC provides federal tax benefits to businesses
taxed as corporations as well as businesses taxed as
partnerships. The benefit to a corporation is that it
is able to deduct the commission paid to the IC-DISC
and corporate level tax is eliminated. Generally, the IC-
DISC is owned by the shareholders of the corporation
and they can receive dividends from the IC-DISC. The
result is a “deductible dividend” to the corporation’s
shareholders. The tax savings can be as great as 21%
times the commission paid to the IC-DISC.
The benefit to a partnership is slightly less. In the U.S.
dividends from an IC-DISC are taxed at a lower tax rate
at the partner level than the ordinary business income
of the partnership taxed at the partner level. Here the
tax benefit is a rate differential between the ordinary
business income and the dividend income. The tax
savings ranges anywhere from 5.8% to 13.2% times the
commission paid to the IC-DISC.
In limited circumstances, the IC-DISC can retain the
earnings for an extended period of time resulting in a
larger immediate tax savings, but also the need to pay
interest to the IRS on the deferred tax.
Foreign Derived Intangible Income
Beginning in 2018 a new export tax incentive was
introduced into the U.S. tax law. This incentive,
referred to as Foreign Derived Intangible Income or
FDII is only available to corporations and is available
for both the export of goods and services, as well
as the collection of royalty income from licensing
intangibles. It is completely different than the IC-DISC
as it does not require any U.S. manufacturing. The
FDII is providing a tax benefit to corporations that
maintain their customer related IP in the U.S. It doesn’t
matter where the manufacturing takes place, it is the
customer intangible that is important.
8

9. 9
Este incentivo, denominado Ingreso intangible
derivado del extranjero o FDII, solo está disponible
para corporaciones y es aplicable tanto para la
exportación de bienes y servicios, como para la
recaudación de ingresos por regalías de la concesión
de licencias de intangibles. Es completamente
diferente al IC-DISC ya que no requiere de ningún
proceso de fabricación en el territorio de los
Estados Unidos. El FDII brinda un beneficio fiscal
a las corporaciones que mantienen su propiedad
intelectual relacionada con el cliente en los EE. UU.
No importa dónde se lleva a cabo la fabricación, lo
importante es el intangible del cliente. La deducción
FDII reduce el impuesto federal sobre los ingresos
elegibles del 21% al 13,125%. Esto está disponible
para corporaciones cerradas, así como para grandes
corporaciones multinacionales que cotizan en bolsa.
Una corporación cerrada puede reclamar tanto el
beneficio fiscal IC-DISC como el beneficio fiscal FDII.
Poder hacer esto depende de hechos y circunstancias
específicos para cada situación. En algunas situaciones
limitadas, las corporaciones pueden usar el IC-
DISC para eliminar el 100 % de su ingreso sujeto a
imposiciones tributarias y no pagar ningún impuesto
federal sobre la renta, lo que deja el impuesto de
accionistas sobre los dividendos como el único
impuesto.
Conclusión
Los Estados Unidos favorece tributariamente a
aquellas empresas que desean exportar desde los
Estados Unidos. Los beneficios vienen en forma de
deducciones IC-DISC y FDII que pueden reducir o
eliminar los ingresos sujetos a pagos tributarios de una
corporación y que pueden reducir la tasa a la que se
gravan los ingresos de los socios en una sociedad.
The FDII deduction reduces the federal tax on eligible
income to 13.125% from 21%. This is available to
closely held corporations as well as large publicly
traded multinational corporations.
A closely held corporation may be able to claim
both the IC-DISC tax benefit and the FDII tax benefit.
Whether or not this can be done is based on the facts
and circumstances surrounding each situation. In
some limited situations, corporations are able to use
the IC-DISC to eliminate 100% of its taxable income
and not pay any federal income tax, leaving the
shareholder tax on dividends as the only tax.
Conclusion
Based on the discussion above, you can see that the
United States is very tax friendly to businesses that
wish to export from the United States. The benefits
come in the form of IC-DISC and FDII deductions that
can either reduce or eliminate taxable income of a
corporation and which can reduce the rate at which
income of partners in a partnership are taxed.
Brian SCHWAM - Principal and
National Managing Director
WTP Advisors - TGS member
UNITED STATES OF AMERICA

10. BRASIL
Orcansa
10
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11. O desenvolvimento dos mercados, encontra-se
intrinsecamente ligado às habilidades inerentes
ao ser humano de negociar, desde os primeiros
assentamentos agrícolas, que contribuíram para a
criação das primeiras formas de moeda, estimulado
assim as trocas e intercâmbios entre assentamentos,
cidades e posteriormente continentes. Nesse sentido
pode-se mencionar a rota da seda no século I a.C
segundo Peter Vanham, “em relação ao total da
economia, o valor dessas exportações era pequeno e
muitos intermediários estavam envolvidos para levar
as mercadorias ao seu destino. Desta forma as ligações
comerciais globais foram estabelecidas”
Evidentemente os impérios, como o Chinês e o
Romano pelos seus vastos territórios, também
colaboraram com o desenvolvimento de novas rotas,
assim como o famosos desbravador Marco Polo e
sua incursão no império Mongol, os comerciantes
islâmicos comerciantes de especiarias e o
desenvolvimento da navegação pelo mediterrâneo.
11
OS MERCADOS GLOBAIS E A CONTABILIDADE GLOBAL
GLOBAL MARKETS AND GLOBAL ACCOUNTING
The development of markets is intrinsically linked to
the inherent negotiation abilities humanity had to
negotiate ever since the first agricultural settlements
created early forms of currency that stimulated
exchange between settlements cities and later evolved
to trade between continents. An example of this is
the Silk Road during the 1st century BC. According
to Peter Vanham, “in the global economy, the value
of those early exports was small and involved many
intermediaries who would get the goods to their
destinations. This is how global trade was established.”
The vast Chinese and the Roman territories also
collaborated with the development of new routes and
the famous explorer Marco Polo and his incursion into
the Mongol empire, the Islamic traders of spices, and
the developers of navigation charts throughout the
Mediterranean.

12. Fundamental neste processo foi a evolução
tecnológica, na denominada era dos descobrimentos,
Portugal, Espanha, Holanda e Inglaterra lideraram
este processo, realizando navegações ao redor
do continente africano, e o descobrimento do
continente americano, embora outras culturas já o
tinham alcançado. O desenvolvimento econômico
inclusive para o boom do mercantilismo veio com este
processo. Nesse sentido podemos elencar também
a revolução científica que mudou o paradigma
até então aceitável, saindo da visão grega que
predominou por quase 20 séculos, para a criação do
método científico. Foi o que pavimentou o caminho
para a revolução industrial no século 18 com o poderio
do império britânico.
Segundo Paul Atterbury“entre 1809 e 1839 as
exportações cresceram de £ 25,4 para £ 76 milhões.
Dez anos depois, o valor era de £ 124,5 milhões, com
os principais mercados de exportação sendo Europa,
Índia e Ásia e, cada vez mais, os Estados Unidos. No
início do reinado da rainha Vitória, a posição da Grã-
Bretanha como potência industrial e comercial global
já era incomparável”.
Logo vieram as guerras mundiais que danificaram
significativamente a economia, mas, nesse contexto
os EUA surgiam como a grande potência mundial,
o automóvel tinha tido um desenvolvimento
extraordinário assim como a aviação. Após os períodos
de guerra fria e da chamada cortina de ferro, com
o fim da união soviética em 1991 o mercado se
globalizou de vez.
Nesse contexto, assim como o comércio foi sendo
desenvolvido e havendo transações ao redor do
mundo, a mobilidade dos capitais, muitas empresas
realizando aquisições de outras em outras regiões e
países, houve à necessidade dessas empresas terem
12
Technological evolution has also been critical to trade
development; in the so-called age of discoveries,
Portugal, Spain, England, and the Netherlands have
led this process, establishing navigation routes around
the African continent and re-discovering the American
continent.
Economic development and the boom in mercantilism
evolved from the processes mentioned above. In this
sense, we can also list the scientific revolution that
changed broadly adopted paradigms; exchanging
the Greek vision that prevailed for more than 20
centuries for the scientific method brought about
unprecedented development. Science paved the way
for the advent of the industrial revolution during the
18th century with the hegemony of the British Empire.
According to Paul Atterbury, “between 1809 and
1839 exports grew from £25.4 million to £76 million.
Ten years later, the figure went up to £124.5 million,
Europe’s main export market followed by India, the
rest of Asia, and the emerging United States. At the
beginning of Queen Victoria’s reign, Britain’s position
as a global industrial and commercial power was
unparalleled.”
Then came the world wars that significantly damaged
the global economy, establishing the United States of
America as the first world power. Then the invention
of the automobile and aviation pushed extraordinary
development as well. After the Cold War and the fall
of the Iron Curtain/Soviet Union in 1991, the market
became finally global.
Commerce and world trade then started growing
with increasingly agile capital mobility. Companies
began acquiring other companies in multiple regions
and countries; as this practice became popular, there
was a need for those companies to have standardized
financial information.

13. 13
informações financeiras padronizadas.
Mais de um terço das transações mundiais acontecem
além das fronteiras, investidores diversificando
investimentos, empresas que possuem subsidiarias
ao redor do mundo, reorganização para produzir
ou fabricar de maneira mais eficiente, tudo isto no
passado seria muito difícil de levar a cabo, se cada
pais mantivesse seu próprio sistema contábil, já que
geraria dificuldade para contabilizar os custos com
precisão, aumentaria o risco, a complexidade, criando
assim uma colcha de retalhos de informação, que
prejudicaria a forma de como as empresas tomam a
suas decisões. (IFRS, 2022)
Evidentemente a padronização traz muitas vantagens,
como a transparência fruto da comparabilidade,
valoriza a prestação de contas tanto para os
shareholders como para os stakeholders, minimiza
riscos, e cria janela de oportunidades. De acordo com a
comissão europeia “os padrões contábeis conseguiram
criar uma linguagem contábil comum para o mercado
de capitais”.
Essa padronização a nível mundial começou a ser
feita em 1973, quando, o que hoje é conhecido como
IFRS, onde os órgãos profissionais de contabilidade da
Austrália, Canadá, França, Alemanha, Japão, México,
Holanda, Reino Unido/Irlanda e Estados Unidos
formaram o International Accounting Standards
Committee (IASC). No mesmo ano, a APB (Conselho
de Princípios Contábeis) deu lugar ao Financial
Accounting Standards Board (FASB) que é quem
estabelece as normas para o US GAAP, que possui
algumas diferenças conceituais e estruturais em
relação ao IFRS, sendo o primeiro mais normativo
e o segundo mais interpretativo. Mas ambos com a
finalidade da padronização da informação contábil.
More than a third of the world’s transactions occur
across borders nowadays. Like never before, investors
are diversifying investments, companies own
subsidiaries worldwide, and reorganization is helping
produce and manufacture goods more efficiently. Such
global trade would have been brutal to carry out in
the past if each country had gotten stuck with their
particular distinct accounting systems, accounting
costs and expenses today would be nearly impossible
to handle, the risk would be extraordinarily high, and
complexity would create an incomplete patchwork of
information, which would harm the way companies
make their decisions. (IFRS, 2022)
Standardization brings many advantages, such
as transparency resulting from comparability;
standardization values accountability for shareholders
and stakeholders, minimizes risks, and creates
opportunity windows. According to the European
Commission, “accounting standards have created a
common accounting language for the capital market.”
World standardization began in 1973, when the IFRS,
in conjunction with professional accounting bodies
from Australia, Canada, France, Germany, Japan,
Mexico, the Netherlands, the United Kingdom/Ireland,
and the United States, formed the International
Accounting Standards Committee (IASC). The APB
(Accounting Principles Board) also established the
Financial Accounting Standards Board (FASB). The
institution sets the standards for US GAAP, which
has some conceptual and structural differences from
IFRS, the first being more normative and the second
most interpretive. However, both seek to standardize
accounting information.

14. No Brasil seguindo os lineamentos do IFRS surgiu o
Comitê de pronunciamentos contábeis (CPC) criado
pela Resolução CFC nº 1.055/05, que tem como
objetivo:
[...] “o estudo, o preparo e a emissão de documentos
técnicos sobre procedimentos de Contabilidade
e a divulgação de informações dessa natureza,
para permitir a emissão de normas pela entidade
reguladora brasileira, visando à centralização
e uniformização do seu processo de produção,
levando sempre em conta a convergência da
Contabilidade Brasileira aos padrões internacionais”
(2022)
Ele surge da comunhão de objetivos das seguintes
entidades, associação Brasileira das Companhias
Abertas (Abrasca); Associação dos Analistas e
Profissionais de Investimento do Mercado de Capitais
(Apimec Nacional); B3 Brasil Bolsa Balcão; Conselho
Federal de Contabilidade (CFC); Instituto dos Auditores
Independentes do Brasil (Ibracon); Fundação Instituto
de Pesquisas Contábeis, Atuariais e Financeiras
(Fipecafi); Entidades representativas de investidores do
mercado de capitais.
Segundo o portal da indústria, as exportações
brasileiras cresceram 36% no primeiro semestre de
2021 batendo o recorde de 136,42 bilhões, sendo
que as principais commodities são: soja, petróleo,
minério de ferro, celulose, milho, café e carnes
bovina e de frango. Embora o Brasil seja a 13ª maior
economia global, ainda ocupa a 25ª posição entre os
exportadores mundiais de bens.
Porem, continua em aumento e com boas perspectivas
para o futuro, embora em relação ao total do mundo,
de acordo com a organização mundial do comercio as
14
Brazil follows IFRS guidelines. The Accounting
Pronouncements Committee (CPC), created by
Resolution CFC No. 1,055/05, pursues:
“[...]The preparation and issuance of technical
documents on accounting procedures and the
disclosure of accounting information, to allow
the application of standards by the Brazilian
regulatory entity that seeks the centralization and
standardization of production processes, always
considering the adherence of Brazilian accounting
to International Standards” (2022)
The resolution mentioned above emerged from the
specific goal the following entities shared, the Brazilian
Association of Publicly-Held Companies (Nebraska);
Capital Association for Market Investment Analysts
and Professionals (Apimec Nacional); B3 Brasil Bolsa
Balcão; Federal Accounting Council (CFC); Independent
Auditors of Brazil Institute (Ibracon); Institute for
Accounting, Actuarial and Financial Research
Foundation (Fipecafi); the mentioned entities are all
representative of investors in the capital market.
According to Industry Portal website, Brazilian exports
grew as much as 36% during the first half of 2021,
beating a record 136.42 billion, with the primary
commodities being: soy, oil, iron ore, cellulose, corn,
coffee and beef, and poultry. Although Brazil is the
13th largest global economy, it still ranks 25th among
the world’s exporters of goods.
However, the nation continues to grow with good
prospects for the future. In the world market
competition, the World Trade Organization affirms
that Brazilian exports in 2021 represented 1.19% of the
global commerce; let us rephrase the above statement.
There are vast opportunities to increase our share.

15. 15
exportações em 2021 representaram 1,19 %, ou seja,
existem muitas oportunidades para aumentar esta
participação.
Entrar em outros mercados, expandir a presença
onde já se está situado, e a vinda de empresas
estrangeiras para o Brasil, fazem com que os mercados
e a contabilidade sejam mais globais do que nunca,
nos obrigando a estarmos preparados para estes
novos desafios, garantindo informação de qualidade,
relevante, comparável, verificável e tempestiva.
Entering other markets, expanding our presence
where we are already located, and fostering the arrival
of foreign companies to Brazil, make our markets and
our accounting practices more global than ever; this
is encouraging us to be prepared for new, upcoming
challenges where we will timely ensure quality,
relevance, comparability, verifiability, and information.
Jose Maria DE LA FUENTE -
Accountant
TGS Brasil Orcansa - TGS member
BRAZIL
Works Cited
ATTERBURY, P. (01 de Fevereiro de 2017). Victorian Technology. Fonte: BBC History: https://www.bbc.co.uk/history/british/victorians/
victorian_technology_01.shtml
COMITÊ DE PRONUNCIAMENTOS CONTÁBEIS. (16 de 03 de 2022). Conheça o CPC. Fonte: cpc.org: http://www.cpc.org.br/CPC/CPC/
Conheca-CPC#
IFRS. (14 de 03 de 2022). Why Global Accounting Standards. Fonte: IFRS: https://www.ifrs.org/use-around-the-world/why-global-
accounting-standards/
OSLER, M. J. (09 de Março de 2022). Scientific Revolution . Fonte: Britannica : https://www.britannica.com/science/Scientific-Revolution
PORTAL DA INDUSTRIA . (15 de Março de 2022). Exportação no Brasil: presença no mercado global. Fonte: Portal da Industria : https://
www.portaldaindustria.com.br/industria-de-a-z/exportacao-e-comercio-exterior/
VANHAM, P. (01 de Março de 2022). A brief history of globalization. Fonte: World Economic Forum : https://www.weforum.org/
agenda/2019/01/how-globalization-4-0-fits-into-the-history-of-globalization/
WORLD TRADE ORGANIZATION. (17 de Março de 2022). Trade Profiles Brazil . Fonte: WTO: https://www.wto.org/english/res_e/statis_e/
daily_update_e/trade_profiles/BR_e.pdf

16. 16
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17. El propósito del presente artículo es mostrar
sucintamente los acuerdos globales más relevantes
celebrados en América Latina en materia de Comercio
internacional, Impuestos y seguridad Social.
Tratados comerciales
Uno de los pactos relevantes es el llamado Pacto
Andino, que es un acuerdo que surge en 1969. Este
pacto integra la firma de países como Bolivia, Chile,
Ecuador, Perú y Venezuela. El fin que persigue es el de
una mayor integración de las regiones que componen
Latinoamérica, así como una mayor cooperación
económica y social, la cual le dote de una mayor
capacidad para, de forma conjunta, hacer frente a los
retos económicos y sociales. Este pacto promueve
el libre intercambio de bienes y servicios entre los
países, integrando un bloque económico de calado,
estableciendo esa unión aduanera.
17
MERCADOS GLOBALES – TRATADOS CELEBRADOS EN FORMA GLOBAL
GLOBAL MARKETS – AGREEMENTS ENTERED INTO GLOBALLY
This article seeks to briefly revisit some of the leading
global agreements regarding International Trade,
Taxes, and Social Security matters in Latin America.
Trade Agreements
The Andean Agreement, one of the most relevant,
was established in 1969. This Agreement integrates
the endorsement of Bolivia, Chile, Ecuador, Peru, and
Venezuela. It pursues a greater integration of Latin
America and a more substantial economic and social
cooperation that will also provide the endorsers with
a more robust capacity to face economic and social
challenges jointly. Andean Agreement promotes
the free exchange of goods and services between
countries. It integrates a powerful economic block with
customs unions.

18. Otro de los tratados relevantes es el Tratado de
Montevideo de 1980, integrado por la Argentina,
Bolivia, Brasil, Colombia, Chile, Ecuador, Estados Unidos
Mexicanos, Paraguay, Perú, Uruguay y Venezuela.
Este tratado instituyó la Asociación Latinoamericana
de Integración (ALADI), que suponía un cambio
fundamental en la estrategia de integración de
los países miembros a través de la Asociación
Latinoamericana de Libre Comercio (ALALC. Creada
por el Tratado de Montevideo 1960.
El Tratado de Montevideo 1980, para alcanzar
su objetivo, estableció un Área de Preferencias
Económicas compuesta por tres mecanismos básicos:
la Preferencia Arancelaria Regional (PAR), los Acuerdos
de Alcance Regional y los Acuerdos de Alcance Parcial.
Tiempo más tarde se formó otro acuerdo entre
los países formativos del Mercado Común del Sur
(MERCOSUR) tales como Argentina, Brasil, Paraguay,
Uruguay y Venezuela, a los cuales se le sumó Bolivia y
como países asociados están Chile, Perú, Colombia y
Ecuador.
Su objetivo principal es la constitución de un Mercado
Común, que implicaba la libre circulación de bienes,
servicios y factores productivos entre los Estados
miembros, el establecimiento de un arancel externo
común (AEC) con la consecuente adopción de una
política comercial común, la coordinación de políticas
macroeconómicas y sectoriales y la armonización de
las legislaciones en las áreas pertinentes.
Tratados para evitar la doble imposición
internacional
Estos tratados tienen por finalidad evitar que un sujeto
radicado en una jurisdicción tenga que afrontar el
pago de impuestos por la misma renta en distintos
países, cuando dicha renta pueda estar sujeta a
18
Another relevant alliance is the Montevideo Treaty of
1980 subscribed by Argentina, Bolivia, Brazil, Colombia,
Chile, Ecuador, the United Mexican States, Paraguay,
Peru, Uruguay, and Venezuela. The treaty established
the Latin American Integration Association (ALADI),
which represented a fundamental change in the
integration strategy of member countries through the
Latin American Free Trade Association (ALALC), created
by the Treaty of Montevideo 1960.
The Montevideo Treaty established an “Economic
Preferences Area” composed of three mechanisms: the
Regional Tariff Preference (PAR), the Regional Scope
Agreements, and the Partial Scope Agreements.
Later, countries of the South Common Market
(MERCOSUR), Argentina, Brazil, Paraguay, Uruguay,
Venezuela, Bolivia, Chile, Peru, Colombia, and Ecuador
subscribed another agreement.
Their goal was the establishment of a Common Market
with free trade for goods, services, and productive
factors between the member states; they fostered the
establishment of a standard external tariff (AEC) with
the consequent adoption of a standard commercial
policy, the coordination of macroeconomic and
sectoral policies and the harmonization of legislation
in pertinent areas.
Treaties to avoid International Double Taxation
These treaties were established to avoid taxation
duplication in the different countries for a subject
located in a particular jurisdiction. The agreements
cover income and wealth tax. They are usually bilateral
agreements, and most of them are governed by OECD
guidelines observed even by non-member countries,
as in the case of Argentina.

19. 19
imposición en los países entre los que se desarrollan
las actividades. Básicamente, estos tratados abarcan el
impuesto sobre la renta y/o sobre el patrimonio. Son
acuerdos bilaterales, y en su mayoría se guían por los
lineamientos de la OCDE, estén adheridos o no, como
en el caso de Argentina.
Para que los términos de estos acuerdos se activen,
la misma renta o patrimonio deben quedar sujetos
al impuesto a las ganancias o al patrimonio, según
corresponda, en ambos países signatarios. Y en
general esto se produce entre países que tienen como
hecho imponible la renta/patrimonio global o mundial.
Las rentas que en general tienen este efecto son: los
intereses, las regalías y los dividendos.
Convenios en materia de seguridad social
Estos convenios establecen reglas recíprocas para que
las personas que trabajaron en los Estados que firman
el acuerdo, puedan acceder a las prestaciones de la
seguridad social.
Con la expansión de las actividades de las empresas a
nivel mundial, se produjo paralelamente la traslación
de personas de un país a otro para cumplir funciones
específicas en otro país, lo que obligó a las empresas
a velar por las prestaciones en seguridad social de
los empleados que desempeñarán sus funciones en
terceros países.
Estos acuerdos vienen a cumplir esa función
reguladora y mediante la cual se reglamenta el modo
de considerar la tributación realizada en cada país
extranjero y el tiempo de servicio, conforme lo que
cada parte acuerde en los mencionados pactos.
For the agreement terms to be practical, the same
income or equity must be subject to payment or
equity tax, as applicable, in both signatory countries.
This generally occurs between countries with global or
world income/wealth as a chargeable event.
The affected income usually includes interest, royalties,
and dividends.
Agreements on Social Security
These agreements establish reciprocal rules so that
people who worked in the territory of the signing
nation can access social security benefits.
With the worldwide expansion of companies trade,
the world saw a parallel transit of workers from one
country to another. The international transit forced
companies to ensure their collaborators’ social security
coverage.
The agreements regulate the standardization and
conceptualization of taxation in every foreign country
and the service term.
Javier FUENTES – Tax Manager
PGK Consultores - TGS member
ARGENTINA

20. 20
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21. Los tiempos de crisis generan oportunidades, dice
un viejo adagio, y lo hemos comprobado, luego
de las crisis más fuertes que ha sufrido el mundo,
incluido guerras pandemias, desastres naturales y
malas administraciones, se han experimentado los
grandes cambios que han generado el crecimiento y el
desarrollo mundial.
Temas como la revolución industrial, hasta la
automatización de procesos administrativos han sido
la vía por la cual las empresas han experimentado
el desarrollo, así también se mira el crecimiento
del comercio internacional desde el transporte de
metales y productos de primera necesidad, hasta las
transacciones que puede realizar una persona apoyada
en plataformas tecnológicas sin necesidad de moverse
de su casa.
21
INTERNACIONALIZACIÓN DE NEGOCIOS
BUSINESS GLOBALIZATION
Challenging seasons are usually opportunity
generators, said previous generations. We have
verified the old saying as we continue to face acute
crises in recent history. Adverse circumstances such
as wars, pandemics, natural emergencies, and, in
some cases, governmental mismanagements have
precipitated significant changes that have resulted in
growth and global development.
The evolution from the industrial revolution to the
automation of administrative processes has marked
the roadmap for world companies to reach higher
development benchmarks. World trade in every
form, from metal transportation to essential goods
to financial transactions operated through banking
platforms, has evolved. Technology has enabled
and empowered individuals to handle transactions
through their laptops and mobile units from the
comfort of their offices and homes.

22. En un mundo que tiende a la globalización, cada
empresa y actividad económica debe competir con
sus similares ubicadas en cualquier lugar del mundo.
Para sobrevivir, deben transformar las ventajas
comparativas en ventajas competitivas.
Por ello, los países que se abren al comercio exterior
deben diseñar una serie de medidas macroeconómicas
que permitan a las empresas privadas desarrollar
ventajas competitivas sin restricciones.
Sin embargo, las ventajas competitivas son pasajeras,
van cambiando en la medida que los competidores
cambian sus estrategias, los países sus regulaciones y
los bloques su organización interna. La tecnología, los
idiomas y las monedas, también juegan un papel muy
importante para el mundo de los negocios.
Ante esto, muchos empresarios han cambiado su
visión y buscan explorar otros mercados, aun con el
miedo que provoca la incertidumbre de dar un paso a
lo desconocido, es por ellos que hoy en día los equipos
consultores, hemos encontrado una oportunidad para
apoyar a las empresas en estos procesos y ayudarlos a
minimizar su riesgo de fracaso, cada vez, son más los
profesionales que se suman y más proyectos exitosos
en el mundo.
Entonces comprendamos que el proceso de
internacionalización de un negocio no es solamente
implantarlo en otro país o en otro continente, o
simplemente vender nuestro producto en otro
país, la internacionalización de negocios se refiere
a vivir y desarrollar un proyecto en condiciones
completamente diferentes a las que estamos
acostumbrados, por lo tanto, el conocimiento se
convierte en la base del éxito.
22
In a world racing toward globalization, each company’s
economic activity must compete with peers located
worldwide. To survive, every company is transforming
comparative advantages into competitive advantages.
The countries at the forefront of opening up to foreign
trade are designing macroeconomic measures that
enable companies to offer restriction-free competitive
advantages.
Competitive advantages, however, tend to be
temporary; they change together with those
competitors who also fine-tune their strategies.
Countries also adjust their regulations and blocks
rearrange their internal organization. Technologies,
languages , and currencies also play essential roles in
the business world.
We live in a world where strategic entrepreneurs
reshape their vision as they explore other markets;
they bravely face uncertainties as they step towards
uncharted territories. Our team has found an
opportunity to support brave entrepreneurs through
the challenging processes they face; we can help
them minimize failure. Currently, we allow many
professionals access to strategies to develop successful
projects in the world.
Bringing a business into the international business
arena with unknown conditions requires experiencing
and tackling knowledge differently; only those
businesses that navigate unknown waters with good
data to make good decisions will be successful.
Companies also need to understand and interpret
the global consumer culture. They need to be familiar
with the social, legal, fiscal, and commercial behaviors
in particular environments where the game would
eventually occur.

23. 23
Debemos conocer a que cultura de consumidores
nos enfrentamos, en que condiciones sociales,
legales, fiscales, comerciales y demás vamos a actuar,
y luego conocer el mercado, que competidores
existen, entender si es mejor competir o unirse
para permanecer en el mercado, y con todo ese
conocimiento definir una estrategia.
Internacionalizar un negocio es climatizarlo en su
totalidad a un nuevo entorno, donde su operación
continúe en lo posible sin interrupciones, tal cual como
en su origen, por ello, es necesario que exista madurez
en las empresas, en los directivos, en los procesos,
y en los productos, que la solidez de la empresa sea
replicable en cualquier entorno, y no se trata de
tiempo sino de dedicación, de compromiso con el
proyecto, con el negocio y con todos los terceros.
El camino está dado, ya vivimos en un entorno
totalmente global y no hablemos solo del marco
económico, la educación, la salud, y otros servicios
generan que poco a poco se vaya convirtiendo en una
forma de vida a la que cada vez más personas pueden
tener acceso.
Por ello, los empresarios están obligados a ampliar su
visión, a mirar un horizonte mucho más lejano porque
el lugar donde estamos es solamente el punto de
partida, ahora, la invitación es definir cuál será el punto
de llegada y lo que haremos para llegar allí.
Thus they need to carefully explore variables such
as peer competitors’ behaviors to implement their
strategies and potential joint venture agreements to
secure market presence on a global scale. Procedures
require accurate analysis and implementation.
Bringing a business to the international market
demands a holistic transformation and adaptation
to new environments while operating smoothly and
with minimal interruption. Seasoned companies and
managers will replicate and adapt processes and
products. The business needs to be adaptable to the
point it can be established anywhere. This will require
time, dedication, and commitment to the company,
the associates, the project, and third parties.
The way forward is open; our lives are embedded in
a global economic, educational, health, and lifestyle
environment. While global reality demands a broader
vision, it also offers an invitation to define the steps to
reach goals.
Christian NÚÑEZ - CEO
TGS Ecuador - TGS member
ECUADOR

24. 24
ARGENTINA
PGK Consultores
Céspedes 3249, oficina 002, Ciudad Autónoma
de Buenos Aires
Tel +54 11 6091 8950
info@pgyk.com.ar
http://www.pgyk.com.ar/
BRAZIL
TGS Brazil - Orcansa
Rua Armando Barroso 108 - Granja Julieta,
São Paulo
Tel: +55 11 5185 2733
contato@tgs-orcansa.com.br
www.tgs-orcansa.com.br
BRAZIL
TGS Brazil - Compass
São Paulo
Tel: +55 11 3522-5942 / +55 11 3531-1119
moreira@tgsbr.com
www.tgsbr.com
TGS EN AMÉRICA
TGS IN AMERICA
CANADA
S+C Partners LLP
101 Queen Street South, Mississauga, Ontario L5M 1K7
Tel: (905) 821-9215
info@scpllp.com
www.scpllp.com
CHILE
TGS C&C Canessa
General del Canto 230, Providencia
Santiago, Chile
Tel: +56 99 5659 6630 / +56 9 5659 6630
info@tgs-canessa.cl
www.tgs-canessa.cl
COLOMBIA
Garssa Consulting
Cra. 45 (Autopista Norte) No. 118 - 30
Oficina 608 - Bogota
Tel: +57 1 457 1634
gestion.comercial@garssa.com
www.garssa.com

25. 25
ECUADOR
TGS Ecuador
Av. Diego de Almagro E8-06 y Pedro
Ponce Carrasco. Ed. Plaza Almagro
3er Piso, Of. 306 - Quito
Tel: +593 99 581 1028 /+593 2 451 6362
info@tgs-ecuador.com
www.tgs-ecuador.com
GUATEMALA
Pineda y Asociados
Av. Reforma 9-55 Z.10 - Reforma 10 Of. 506
Tel: +502 2324 3800
pcg@pinedacg.com
www.pinedacg.com
MEXICO
TGS México Rocha
Leibnitz # 185 Col. Anzures México D.F. C.P. 11590
Cuidad de México
Tel +52 55311648
info@rocha.com.mx
www.tgs-rocha.com
PERU
TGS Sarrio & Asociados
Av. Emilio Cavenecia 264 oficina 701
San Isidro, Lima
Tel: ++51 1 615 6864 / +51 1 615 6868
info@tgs-sarrio.pe
www.tgs-sarrio.pe
UNITED STATES OF AMERICA
WTP Advisors
601 Carlson Parkway, Suite 1050 Minnetonka,
Minnesota 55305
Tel: +1 (866) 298-7829
info@wtpadvisors.com
www.wtpadvisors.com

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de TGS, cada una de ellas es la única responsable del trabajo que realiza y de los servicios que brinda a sus clientes. Las firmas miembro no tiene
responsabilidad por los actos u omisiones de otras firmas miembro.
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