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Compliance
Assistance in the design, implementation and monitoring of Compliance programs within the framework of local and international regulations (FCPA, Corporate Criminal Responsibility Law), including course delivery.
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ESG & Sustainability
Projects related to ESG (environmental, social and governance) and Sustainability.
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Forensic
The services offer includes expert advice in litigation resolution and the development of procedures in legal/digital forensics and cybersecurity.
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Human Capital solutions
Grant Thornton's Human Capital division has a team of professionals determined to accompany individuals and organizations throughout the relationship between the employee and the organization.
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Organizational restructuring
Advice on operational restructuring to companies in difficulty, their creditors or other interested parties.
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Services to the Government and the Public Sector
Financial audit projects and special technical and concurrent reviews of programs of national and subnational governments financed by International Credit Organizations. Special projects for government entities, public and mixed companies.
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Valuation Services
We provide stock, business, asset, and liability valuations in support of negotiations, account structuring, and tax opportunities.
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Transaction Advisory Services
The service offer includes financial due Diligence, operations services, business and strategic intelligence, ratings, advice on mergers and acquisitions, capital markets and debt advice.
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Academy - Empowered by Grant Thornton Argentina & Perú
Academy is an e-learning platform that emerged as a joint initiative of Grant Thornton Argentina and Grant Thornton Perú. It is designed so that everyone can acquire new skills in accounting, auditing, taxes, technology and business through access to multiple courses and certifications.
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External audit
We offer services of external audit of financial statements; assurance reports, agreed procedures and certifications; due-diligence and take-over of companies.
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Audit methodology and technology
At Grant Thornton we use a single audit methodology across our global network. We apply it through an integrated set of software tools known as the Voyager suite. Meet it now.
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Professional standards and training
Our IFRS advisors can help you navigate the complexity of the standards so you can spend your time and effort on your business.
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Prevention of money laundering and financing of terrorism
At Grant Thornton we provide advice to our clients in the development of an Asset Laundering and Terrorist Financing Prevention strategy that allows them to prevent risks in a comprehensive manner.
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Tax outsourcing
Taxes have a strong impact on your business decisions. At Grant Thornton we will respond quickly and tailor solutions for our clients.
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Payroll
Put your payroll in good hands while you take your business beyond. Learn about our services.
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Accounting, administration and finance services
To achieve the highest business benefits, you need an experienced team by your side. Learn about our services.
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Start-up companies
Learn about our solutions to help build your business.
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Financial statements audit
We offer services of external audit of financial statements; assurance reports, agreed procedures and certifications; due-diligence and take-over of companies.
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FIU Independent External Reviewer - AML/CFT
We participate in the implementation of the requirements of the FIU in leading companies and our services ensure an orderly framework, optimizing the investment.
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Internal audit
An internal audit helps identify gaps, deficiencies, and potential for inherent risk in all facets of the organization.
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Legal audit
The monitoring of the legal area is usually a complex and difficult task for organizations, which however cannot be neglected.
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Creation and acquisition of Financial Entities
We have the knowledge and experience in activities related to the acquisition and creation of financial entities, both locally and internationally.
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Responsible for regulatory compliance
At Grant Thornton we offer the service of acting as "Responsible for Regulatory Compliance and Internal Control" for companies that requested registration as Settlement and Clearing Agent and Trading Agent.
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Global Mobility Services
Sending someone abroad involves liabilities and obligations. We offer interesting solutions to minimize the tax burden for both parties.
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Direct Tax
We provide clear and practical solutions that meet your specific business needs, in the most tax-efficient way possible.
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Indirect Tax
Grant Thornton's tax teams take a rigorous approach to help you meeting your tax obligations, whatever challenges you may face along the way.
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International taxes – Transaction support
We offer our international experience in the field and make available the resources to plan and adequately comply with regulatory frameworks.
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Services to private clients
Wherever you are in the world, our tax specialists can help you with your interests and investments abroad.
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Clean energy and technology
Growing demand, development of new ways of energy and need of a sustainable future: we accompany our client in these changes and to be one step ahead.
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Mining
Our flexible, partner-led teams are dynamic and focused on development. We take time to understand the details of the client’s business and offer unique solutions.
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Oil and gas
Our Oil & Gas teams have the deep knowledge, wide experience and vision needed to offer our clients practical solutions adapted to their businesses.
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Banking
Grant Thornton offers meaningful and accurate solutions for operational and transactional issues, litigation and administrative disputes in banking.
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Private capital
We gather international teams of experts in corporate finance, restructuring and recovery, tax and insurance services to deliver customized solutions from initial investment, through development stages until the end of each project.
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Fintech
We work to take advantage of all opportunities and manage industry risks, allowing our clients to always be one step beyond their competitors.
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Asset management
We have specialized teams in more than 140 markets delivering solutions regarding insurance, taxes and advisory to global, international, regional, local asset managers.
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Insurance
Thanks to our specialized team we offer accurate solutions for operational and transactional matters, litigations and administrative conflicts.
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Sebastián Ferreyra, director of transfer pricing at Grant Thornton Argentina comments that "the recommendations of Pillar 2 establish a coordinated tax system to guarantee that large multinational groups pay a minimum tax on the income obtained in each of the jurisdictions in which they operate. AND The rules create a "supplementary tax" that will be levied on profits made in any jurisdiction where the effective tax rate, calculated by each jurisdiction, is less than the minimum rate of 15%."
The new Pillar 2 model rules will help countries transpose the rules into their respective domestic legislation. They establish a coordinated system of interlocking rules that:
define MNEs that are within the scope of application of the minimum tax;
they establish a mechanism to calculate the effective tax rate of MNEs for each jurisdiction and set the amount of the complementary tax to be paid in accordance with said rules; and
they impose the complementary tax on a member of the multinational group in accordance with an order established by the agreed rules.
"The model rules of the Second Pillar address the treatment of acquisitions and disposals of group members and include a specific rule regarding certain holding structures and tax neutrality regimes. Finally, they address administrative aspects, such as the presentation of informative returns, and establish a transitory regime for MNEs that are subject to the global minimum tax", adds Sebastián.
Why is Pillar 2 strategically important?
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The business response to the prevailing disruption ranges from tactical adjustments to supply chains to an overhaul of recruitment and retention strategies. Companies may also be looking at more fundamental shifts in their business model and purpose. For example, digitisation is pushing more commerce online and opening up new platform and subscription service models. In turn, the growing focus on sustainability, social inclusion and other environmental, social and governance (ESG) priorities raises questions over what the organisation is in business to do and how it judges success.
Four key business imperatives for Pillar 2
So where does tax – and specifically OECD Pillar 2 – come into this transformation equation? Drawing on what we’re seeing in our work with a wide range of multinational enterprises (MNEs), four key business imperatives are coming to the fore:
Pillar 2 is set to join factors such as talent shortages and supply chain disruption in being a major driver for operational restructuring and relocation in coming years. In a survey of more than four thousand MNEs we carried out in 2022, over 30% reported plans for major restructuring and business model change as a direct consequence of Pillar 2.
By levelling the playing field on minimum tax, Pillar 2 raises questions over where a business should best locate people, functions, assets and risks.
Addressing these questions now would allow sufficient time for transfer and recruitment, while making sure operations are in place before Pillar 2 comes into force from 2024 onwards.
Even if Pillar 2 isn’t the primary driver for rethinking strategy, structures and operational locations, it will still have a significant bearing on plans.
Our MNE survey found that businesses expect an average 4.6% increase in their effective tax rate (ETR). The rise is significant in itself, adding to the already spiralling costs of materials, energy and pay. Just as significant is the redistribution of tax liabilities, with bills rising in some jurisdictions and the differential in others becoming less marked.
“As businesses gear up for restructuring ahead, failure to build Pillar 2 into strategic evaluation and planning could undermine and even derail plans. In particular, businesses could be faced with unforeseen and possibly unsustainable costs that could erode profitability and competitiveness. Examples could include moving production to a more politically friendly location. This would improve supply chain resilience. But what if the extra tax burden makes the costs prohibitive?” says Matt Stringer, tax partner and international tax leader at Grant Thornton UK LLP.
Pillar 2 has significant implications for people, process and technology. The data and systems demands are likely to require a high degree of automation, new sourcing and staff upskilling. Pillar 2 also calls for closer integration between tax and finance systems and planning.
While tax teams are rarely first in line for tech investment, the exceptional demands of Pillar 2 will change this. The good news is that the tax functionality of enterprise resource planning (ERP) systems has come a long way in recent years, so the necessary capabilities may already be available. Thanks to the cloud, other tools may now be cheaper and easier to source and implement.
The other key consideration is talent. This is in short supply in tax and finance more broadly. So it’s important to harness technology and allow professionals to focus on the value-adding tasks, including the strategic evaluations surrounding Pillar 2.
Further openings include rationalising entity structures within each jurisdiction to help simplify and speed up data sourcing and tax computation.
No evaluation of a company’s social impact is complete without an assessment of its tax contribution. This is the essence of the company’s commitment to being a responsible citizen.
“The bar of expectation is rising from tax transparency to tax morality, where businesses are required to demonstrate their approach to tax that serves society. ESG will accelerate this. Just like greenwashing, increased tax authority information sharing and tech-based regulatory scrutiny will expose gaps between claims and reality,” says Vikas Vasal, global head of tax, Grant Thornton International.
Time to mobilise on Pillar 2
Pillar 2 is emerging as a critical test and differentiator for MNEs worldwide. Businesses with the confidence, agility and knowhow to build the operational and business model changes required by Pillar 2 into their wider strategy for transformation will increase resilience and minimise disruption. In short, acting today will make tomorrow easier and increase competitive advantage.
If you want our team of specialists to accompany you in the implementation of measures with a focus on Pillar 2, please contact us.