10 November 2025 Americas Tax Roundup | 10 November 2025 | | | | A summary of the top weekly tax developments in the Americas | | | | | | | | | | | | | This week's tax news from the Americas - US President issues Executive Order formalizing trade truce with China
On 4 November 2025, President Trump signed two executive orders formalizing commitments made with President Xi during a recent bilateral meeting in South Korea, including the reduction of tariffs imposed under the International Emergency Economic Powers Act. Effective 10 November 2025, the tariff rates on most imports from China range from 10-45%. This includes the reduced 10% fentanyl-related tariff rate, the 10% country-specific rate (with some exceptions for goods subject to Section 232 investigations and/or tariffs), and 25% for goods subject to lists 1-3 of the Section 301 tariffs on Chinese imports or 7.5% for goods subject to list 4a under the Section 301 tariffs on Chinese imports.
- Argentina updates income tax regulations affecting transfer pricing compliance
In Decree 767/2025 (released 28 October 2025), Argentina increased the minimum thresholds for transfer-pricing annual filings to ARS500m for transactions with independent parties and ARS150m or ARS15m per individual transaction for transactions with related parties or in low-tax jurisdictions. The decree is effective for fiscal years ending on or after 29 October 2025.
- Brazilian Senate approves 10% withholding tax on dividends paid to nonresident shareholders and changes to individual income tax
On 5 November 2025, the Brazilian Senate approved Bill of Law No. 1,087/2025 (the Bill), introducing substantial changes to Brazil's tax framework. The Bill would expand the individual income tax (IRPF) exemption brackets for low-income earners. To offset the anticipated loss in revenue, the Bill would reintroduce a 10% withholding tax on dividends distributed to certain resident individuals, as well as to nonresident individuals and legal entities. It also introduces other changes to the IRPF, including a new minimum tax for high-income individuals.
- Uruguay establishes full VAT exemption for tourism sector through 30 April 2026
Through Decree No. 220/025, Uruguay’s Ministry of Economy and Finance established that a full value-added tax (VAT) exemption will apply to certain tourism sector activities from 15 November 2025 to 30 April 2026. The full VAT exemption is valid for payments made via credit card, debit card or e-money payment instrument, if the purchasers are nonresident individuals.
- OECD holds Tax Certainty Day, presenting MAP and APA statistics and addressing dispute prevention and resolution developments
On 31 October 2025, the OECD held its seventh annual OECD Tax Certainty Day bringing together a diverse group of stakeholders including tax authorities, business leaders, academics and policymakers to address the evolving landscape of tax certainty. The event featured the release of the 2024 MAP and APA statistics, as well as the announcement of the annual MAP and APA awards. The latest statistics revealed a continued upward trend in MAP caseloads, alongside a notable increase in positive resolutions for taxpayers. The growing adoption of bilateral APAs emerged as a key theme, underscoring their expanding role in delivering greater predictability and confidence for multinational enterprises.
| | | | | | | This week's newsletters - EY TradeWatch – Issue 2 | 4 November 2025
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Jennifer Mannetta, writer and editor Distributed weekly to all Americas Tax personnel. | | | |
Document ID: 2025-2252 |
