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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
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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
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Indirect Tax
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International taxes – Transaction support
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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
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Banking
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Fintech
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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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Export as a development strategy
Austria is an industrialized country with a small domestic market and is highly dependent on foreign trade. In 2023, its export quota of products and services stood at 45.03% of GDP, becoming the 43rd economy in total exports in relation to GDP; while the import quota was 49.64% of GDP, falling 4.69% compared to 2022 and ranking 141st. [i, ii]
Small and medium-sized companies are the driving force of the Austrian economy: they represent 99.6% of the country's companies and in 2022 they generated net sales of more than 532 billion euros. “Despite being a market mainly of small and medium-sized companies, Austrian firms stand out because of their high technical and scientific level and are recognized for their compliance with quality standards,” comments Fernando Fucci, Managing Partner & Grant Thornton Argentina’s IBC Director.
It is important to understand that, despite being a market of small and medium-sized companies, and that some are family businesses, many of them have international projection. This is the case of many companies in the Life Sciences industry, in which they stand out because of their biotechnological development. “Austria is a key player in the biotechnology field, whether in white biotechnology -the optimization of industrial processes- or red biotechnology, related to medicine and the pharmaceutical industry,” says Alejandro Chiappe, Lead Partner of Advisory Services and spokesperson in the Life Sciences industry.
It is in red biotechnology where the Argentine industry could find a market through, not only the trade of nuclear reactors, boilers, machines, devices and mechanical devices; but also with knowledge-based economy (KBE). “Argentine talent in biotechnology could boost Austrian developments and position Argentina in the world of Life Sciences. For example, vaccines against dengue fever and melanoma were developed in the country and Austrian companies are conducting research in the field of these diseases, so the national KBE would add significant value,” concludes Chiappe.
The Austria-Argentina trade relationship
Central and Eastern European countries are Austria's main partners. Not only because of their geographical proximity, but also because of the commercial bond they have built. However, over recent years the commercial exchange between Austria and Argentina has strengthened. “In 2020, trade was the lowest in the last 15 years (US$ 145.93 million), mostly importing medical components,” says Fucci. “Then, it maintained a constant increase establishing a record of US$ 277.91 million in goods exchanged in 2023”.
Argentina is one of Austria's main suppliers of leather and furs, representing more than 50% of the European country's imports. The quality and positioning of the national product in the international market and the dependence on external supply of Austrian fashion are the factors that led to exports of a total of US$3.08 million in 2023.
The second item that was exported the most to Austria during 2023 (US$ 1.28 million) is the group of goods included in chapter 84 of the MERCOSUR Common Nomenclature (NCM) “Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof", mainly the item "Spark-ignition reciprocating or rotary internal combustion piston engines".
“Austria's automotive and metallurgy industry is closely related to that of Germany and other European countries, such as Italy or the Netherlands. But the excellence of Argentine metallurgical products has been able to find a market -Fucci highlights-. However, in the upcoming years, Argentine companies could stand out, not only in Austria, but in the entire auto parts industry, due to clean technologies and key mineral resources (such as lithium) to produce electric cars".
Opportunities for market expansion
Following automotive production, the Argentine mining industry could make its way into the Austrian market, through the gold complex (NCM), paving the way to, in the future, position itself with lithium and other energy sources and green technologies.
Austria is a large buyer of gold plated with platinum, unwrought, in semi-manufactured forms, or in powder form, during 2022 it imported US$ 6.4 million, 23% more than in 2021. On the other hand, Argentina is a large exporter: in 2022 it sold US$ 2.16 million in unwrought gold for non-monetary use, being the metal with the most foreign sales in the mining sector.
Regarding agriculture, the Austrian State has a special interest in restricting the supply of lower quality products that are neither natural nor healthy: 27% of the country's farmable surface is agroecological and the growth of transgenic foods is forbidden. Austria's approval of Argentine standards for organic production could be a starting point for the exchange of fruit and vegetables and other products of animal or plant origin produced in a sustainable way.
“Although Austria's domestic demand for food can be covered almost entirely, Argentina has the capacity to position itself as the main supplier in several areas. Currently, it is a supplier of natural honey (US$ 0.49 million) and satisfies between 8 and 10% of the demand for boneless beef,” highlights Fucci. “Better bilateral agreements and policies could encourage exchange and take Argentina's regional economies beyond.”
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i Austria - Exportaciónes de mercancías 2023. Datosmacro.com. https://datosmacro.expansion.com/comercio/exportaciones/austria
ii Austria - Importaciones de mercancías 2023. Datosmacro.com. https://datosmacro.expansion.com/comercio/importaciones/austria