South America: Strategy

A holding company incorporated in Panama that never had an office or employees, and that only receives dividends from a subsidiary in another country, is exactly one of the types of structures targeted by Law 526, which amends the Central American country’s Fiscal Code. That model, used for years in hundreds of wealth and corporate structures registered in Panama, will no longer be sufficient on its own starting in fiscal year 2027, when the new economic substance regime takes effect.

Un holding constituido en Panamá que nunca tuvo oficina ni empleados, y que solo recibe dividendos de una filial en otro país, es precisamente uno de los tipos de estructuras alcanzados por la Ley 526, que modifica el Código Fiscal del país centroamericano. Ese modelo, utilizado durante años en cientos de estructuras patrimoniales y corporativas registradas en Panamá, deja de ser suficiente por sí solo a partir del periodo fiscal 2027, cuando entra en vigor el nuevo régimen de sustancia económica.

La República de Panamá aprobó la Ley No. 526 de 28 de mayo de 2026, la cual introduce reglas y requerimientos de sustancia económica en Panamá, aplicables únicamente a entidades integrantes de Grupos Multinacionales que obtengan rentas pasivas de fuente extranjera (la “Ley”). Dicha ley fue reglamentada mediante Decreto Ejecutivo No. 32 del 2 de septiembre de 2026. Toda esta normativa entrará en vigencia a partir del período fiscal 2027.

La preautomatización de contratos es la fase preparatoria esencial que estructura el conocimiento jurídico antes de implementar tecnología de automatización, transformando documentos dispersos en activos institucionales organizados y reutilizables.

Professional services firms are integrating AI into client work through drafts, reviews, and internal processes, but the technology's invisible presence raises critical questions about transparency and trust. When should clients be informed that AI assisted their matter, and how can firms classify AI use to protect both efficiency and confidence? A framework emerges that categorizes AI applications into four distinct zones: invisible internal uses, disclosed assistance, approved deployments, and strictly of

Cross-selling remains a persistent challenge in professional services firms despite being a top growth priority. This analysis examines three critical barriers that prevent firms from converting client trust into expanded engagements: the expertise gap that makes partners hesitant to risk their reputation, compensation structures that fail to reward referrals, and inconsistent client experiences across practice areas.

Bolivia's Congress has approved a $1.9 billion IMF loan that eliminates fuel subsidies and raises pump prices by 83%, sparking renewed calls for nationwide protests. President Rodrigo Paz's sweeping economic reforms aim to attract foreign investment and restore fiscal sustainability, but face fierce opposition from unions, farmers, and supporters of former president Evo Morales.

Brazil's Ministry of Health is advancing the regulatory framework for the National Health Strategy for the Health Economic-Industrial Complex (ENSCEIS), established by Statute #15,471 of July 20, 2026. The framework aims to strengthen domestic production and innovation capacity in the health sector while reducing dependence on foreign technology and expanding access to strategic health technologies for Brazil's public healthcare system.

Mexico's trade defense capacity faces a critical juncture as the 2027 budget proposes a 39.3% reduction for the UPCI, the agency responsible for investigating unfair trade practices and imposing compensatory duties. With 97 active measures covering 63 products from 22 countries and shifting trade patterns from Asia to Latin America, this analysis examines whether institutional capacity can be maintained amid growing complexity in global supply chains and regional integration demands.

Mexico's environmental authority has mandated the use of a digital platform for submitting environmental impact assessments and related permits. Companies in sectors like automotive, mining, energy, and infrastructure must now navigate new electronic filing requirements that could affect project timelines and regulatory compliance strategies.

A leading telecommunications expert and DSL pioneer will visit Brazil to discuss intelligent networks for 6G and beyond, bringing together researchers, engineers, and specialists to examine technological advances in mobile networks and their impact on innovation and technological development in the world's fifth-largest telecommunications market.

Mexico's Social Security Institute (IMSS) is transitioning to a fully digital Employer Identification Card system, eliminating physical cards in favor of electronic verification through the IMSS Mailbox. Companies must ensure their digital infrastructure and authorized personnel information are current to maintain compliance with the new requirements taking effect in September 2026.