On August 12th, 2021, the nominations of the most prestigious firms were presented for the International Tax Review Awards 2021, where our Transfer Pricing practice was proudly nominated as the firm of the year in Mexico, along with Chevez Ruiz Zamarripa, Creel García -Cuellas, Aiza and Enriquez, Deloitte, QCG Transfer Pricing Practice, Skatt and TPC Group. Therefore, we congratulate our Lead Transfer Pricing Partner, Carlos Perez-Gómez and his entire team for having obtained this nomination for such a recognized award.

The experience of our firm in the field of Taxes and Transfer Prices and the capacity of our team of professionals at the national level guarantee the highest level of technical quality in all the services we provide to our national and international clients. Thanks to the great effort of all our collaborators, HLB MAAT Advisers, has been recognized by our clients and in addition, we have been named and recognized in several of the most important international publications.

In a globalized and increasingly digitized world, where transactions within the same business group are carried out in different countries; It is essential to ensure that such operations between related companies are carried out in compliance with the norms and rules established worldwide. Local and international tax authorities review this type of transaction more frequently and in more detail, seeking to avoid abuse and evasion channels, that is why at HLB MAAT Advisers we have the necessary resources and experience to provide security to our clients that are complying with the established regulations, under a quality and cutting-edge service, carried out by our experts.

Our services include:
Preparation and Updating of Transfer Pricing Studies
Consultations Before Tax Authorities Assistance in the Preparation and Presentation of the Informative
Declaration of Operations Between Related Parties Abroad Assistance in specific annexes of DISIF / SIPRED transfer prices
Relevant Operations Report Design of transfer pricing policies
Preparation of Master Transfer Pricing Declaration (Master File)
Preparation of Local Transfer Pricing Declaration (Local File)
Preparation of the Country by Country Report Processing of Advance Transfer Pricing Agreements (APA)

ITR TAX AWARDS 2021

The ITR Americas Tax Awards recognize the notable achievements and developments of international tax professionals from the North, Central, and South American regions for one year.
In addition to national awards in more than fifteen jurisdictions, there are also awards in regional, individual and internal categories for the best firms.
Due to the continuous restrictions caused by the global pandemic of COVID-19, on September 22nd a virtual ceremony will be organized for the delivery of these recognitions, where we hope that HLB MAAT Advisers will be recognized as the firm of the year in the practice of Prices of Transfer.

https://bit.ly/3yIA01k

Click on the link to see the invitation to the event, register or read the full article of the ITR TAX AWARDS 2021 nominations.

Unconscious bias, binding the business success

The extent to which unconscious bias has an impact on our society and the professional services industry is hard to capture in full since the very nature of the problem is evasive and unintentionally cultivated for years. What can be attested with certainty is that a consequence of biased behaviours is an industry lacking diversity, particularly at higher organisational levels. Furthermore, unconscious biases constrains the career progression for certain groups of professionals and is becoming a bottleneck to diverse hiring. All of these practices gradually, but inevitably, erode a firms’ success.

At HLB we believe that it is our duty as professionals to analyse the as-is state of any matter and advise on the best steps towards the desired to-be state.  In this report, we look objectively into the current practices and identify where and why bias overtakes objectivity and what can be done to address and resolve unconscious bias within the professional services industry.

Navigating the cyber-risk landscape in the age of remote working

The COVID-19 pandemic forced many organisations across the globe to adopt remote working and digital processes with record speed. In doing so, CTOs and IT management faced increased vulnerabilities allowing for cyber-attacks and data breaches to take place more easily. Overnight, organisations went from controlled office environments to diverse home worksites. Continuing business, while securing multiple virtual environments, proved to be a challenge. But remote working is here to stay, so enterprises must adjust and overcome security hurdles.

In light of Cybersecurity Awareness Month 2020, we surveyed 76 IT professionals about their perceptions on information security and data protection in today’s complex digital environment. We also spoke with HLB cybersecurity experts about today’s cyber-risk landscape, the lessons learned from lockdown and the road ahead for CTOs to protect against cyber-crime in the age of remote working.

The 2020 holiday season differs significantly from previous years. From an increase in e-commerce to a decrease in spending and a new wave of lockdown measures across Europe, changes to consumer behaviour and access to shops require brands to adjust marketing efforts and expectations.

However, companies are taking it in stride by enhancing shopping methods and coming up with innovative ways to capture attention. Plus, it’s not all doom and gloom. While many surveys suggest consumers will spend less in 2020, a global Rakuten report finds, “Over 70% of consumers don’t plan to decrease spend for 2020 peak shopping days, despite more than 40% of shoppers citing a decrease in household spend due to COVID-19.”

So, what can retailers do to make the most out of the 2020 holiday season?

Applying different sales techniques

As consumers flock to online shopping, retailers look for ways to replicate in-store experiences digitally using virtual reality (VR) technologies alongside live chat options. In doing so, brands provide extra support to uncertain buyers while personalising experiences. For example, beauty brands have launched virtual consulting features to assist digital shoppers.

Developing a solid strategy for 2020 requires reassessing your customers’ needs and updating buyer personas. It’s essential to look at the pain points affecting shoppers’ lives and adjust your marketing to reflect those problems. This may require refreshing your messaging to focus on value-added features that solve unique problems facing customers this year.

Since shoppers have less money to spend, they’re spending more time researching products and finding the best deals. By incorporating new data about your shoppers into your marketing strategy, you can discover the best ways to communicate with your customers. Reach out with timely messages that help consumers make a decision using methods like:

• Offering a sneak peek of upcoming sales and products via live social media videos and 3D product visualisation
• Retargeting consumers with bundled offers for added value without harming a brand’s bottom line
• Promoting easy ways to shop in-store such as offering pre-registration for private experiences or using push notifications to seal the purchase

Furthermore, it’s important to emphasise safety in various shopping methods. Retailers may offer special shopping hours for vulnerable consumers, curbside pickup, or contactless payment methods. You’ll also see brands strive to assure customers online by providing transparent shipping policies, highlighting customer reviews and testimonials, and using video to enhance the digital shopping experience.

Exceeding holiday e-commerce expectations

With so many shoppers heading online, many of them for the first time, Black Friday and other peak shopping days differ from past years. To meet the challenge of store closures, brands increase their use of live representatives or chatbots while offering more content to help buyers make a decision, including buying guides and comparison infographics. 

But, switching to digital Black Friday events means brands must help consumers by providing a frictionless online experience that supports buyers throughout their journey, including assistance for last-minute shoppers. Retailers are: 

• Bracing for high-volume traffic during peak sales day by testing servers and systems 
• Using inventory management tools for real-time visibility for retailers and customers
• Providing flexible shipping and return policies to support new online shoppers and ease fears 
• Displaying straightforward shipping and tracking information including cut-off dates 
• Assessing shipping methods and adding same-day delivery options

Staying abreast of Black Friday trends 

Staying true to your brand values and aligning those with your customers is vital to securing consumer trust in 2020. In fact, we believe that the purpose and values of a brand are considered even more important in the current environment. Several brands take on Black Friday as a new way to make a statement.

For instance, The Ordinary, owned by parent company Deciem, is closing all stores on Black Friday to protest hyper-consumerism. IKEA Canada focuses on sustainability by encouraging Canadians to “sell-back their gently-used IKEA products,” and their Buy Back campaign rolls out in the UK and Ireland on Black Friday. 

When planning your holiday campaigns, look for ways to showcase your brand’s mission and values by highlighting new retail initiatives and showing how you’re supporting employees during the pandemic. Put a personal touch on your messaging by driving home the fact that your brand is more than products; it’s an integral part of people’s lives. 

Retailers adjust to meet sales objectives

The implications of COVID-19 on the economy and consumer spending has hit the retail sector hard. But although lifestyle and shopping changes can’t be denied, consumers still want to enjoy the holiday season and find gifts for family and friends. The brands that reach out to individuals and overcome the digital divide can realise sales objectives while instilling long-term trust in their brand.