Challenged daily by having to deal with the difficult task of preserving wealth by helping both individuals and corporations legitimately minimise their tax liability, the tax management profession in Brazil is not always plain sailing. Very few firms are skilled enough to contend with the many business, social and political challenges contained within, and, for tax management consultants, navigating national tax infrastructure is far from a trivial task.
Intercorp Group has set a high marker for others in the industry to aspire to, and World Finance named it the best tax firm in Brazil as part of its annual Tax Awards. Intercorp has a strong heritage in tax consulting, and the scope of its expertise has evolved and developed alongside ever-changing client requirements by keeping to a tradition of outstanding client service and intelligence.
Founded on the premise that consultants should be responsible and accept the risk of their own advice, Intercorp’s typical clients are high-net-worth Brazilian individuals and families who have international business operations, and therefore, a global – rather than purely domestic – exposure to taxation legislation.
Keeping assets a priority
Intercorp has a unique way of operating in how it addresses the issues of taxation, accounting and the international transactions of its clients. Once the firm has worked with its clients to ascertain their precise needs, the firm then proceeds to facilitate and co-ordinate a fitting strategy for the clients’ interests.
HNWI in Brazil in 2013
HNWI growth in Brazil by 2018
It achieves this objective by assigning to each of its clients a qualified co-ordinator, who acts in an advisory and consulting role in developing a customised solution and asset preservation strategy. Each of these co-ordinators has access to an international network of professionals and specialists, informed by a deep understanding of tax systems across the globe. Intercorp can guarantee that each of its consultants will guide the client with integrity, and present them with the best possible solutions in a transparent and efficient manner. Fundamentally, Intercorp decodes extremely complex approaches, ignites debate and encourages considered action based on often unique circumstances.
Owing to years of experience in the industry, the firm has developed an exceptional understanding of the solutions available to families looking to structure their assets across multiple jurisdictions in a way that is tax efficient, and preserves wealth for future generations. The firm’s consultants, therefore, work tirelessly to clarify any questions clients might have, and provide the best solutions they possibly can. Made up of a team with decades of experience in designing and implementing complex structures and instruments, Intercorp’s clients are safe in the knowledge that their assets are protected as best they can be.
This confidence derives in part from the firm’s co-ordinators, but also from the knowledge that clients enjoy direct or indirect access to Intercorp’s unique global network of specialists and professionals. The industry in which Intercorp acts leaves no room for obfuscation or lack of clarity, and the company prides itself on its transparent procedures and practices.
To further the firm’s cause, the Intercorp team has no allegiances or biases when it comes to the investments themselves, which puts it in a valuable and constructive position to advise objectively on the most suitable solutions. With a wealth of experience to its name, the firm’s shared expertise means that clients can be comfortable any decisions made on their part are backed by years of industry expertise. The consultants will ensure they assess and properly protect invested assets, and effectively structure any business to ensure the risks fall directly and solely on the investment capital.
As a highly experienced consultant, I specialise in international tax, real estate planning, wealth preservation, fiduciary advice, implementation and management of international structures and projects. I begun my career as a trainee at the consulting firm Arthur Anderson, and later became a Senior Manager in the tax consulting area, working in many significant parts of the firm and in collaboration with several international Arthur Anderson offices on very large global projects.
Today, I have built a strong network of specialists across the globe and led a number of milestone projects in various industries, including oil and gas, telecommunications, real estate, international services, investment funds and asset management.
Brazil’s tax system explained
Intercorp Group offers global services and expert advice. It has direct access to a unique network of professionals around the world that dedicate time to develop customised solutions, aiming to meet tax planning needs and asset preservation strategies for its clients. The fact is that taxes are an extremely significant element in the costs of doing business. As Brazil’s own economy, and the economies of the world continue to globalise, the proper management of tax costs have naturally become a priority for the executive teams of large corporations and also for business owners.
Since its foundation and over the years, Intercorp Group has been working hard at an international level to develop tailored techniques that can be applied to its clients’ businesses, allowing it to offer the most efficient, effective, and pragmatic solutions to major international organisations’ taxation needs.
Historically, a wide range of factors have driven the complexity of the Brazilian tax system. From different layers of tax jurisdictions (in Brazil this includes federal, state and municipal), to intense legislative activity; the significant time it sometimes takes for a view on the interpretation of tax legislation to be officially expressed by the tax authorities; and the fact that the tax administration is frequently seen as taking an aggressive position towards taxpayers, with poor channels of communication between the tax authorities and the business community.
Much of Intercorp’s work is – like the taxation situation in Brazil and beyond – highly technical, and demands only the highest intellectual abilities, as well as an in-depth knowledge of not only tax legislation and infrastructures, but also of how businesses maximise their success at a practical level. The firm has taken steps to understand the balance between the investment structures used by clients to make their tax situation more efficient, and the investors’ main investment objectives. It is vital that the investment vehicles used provide certainty to investors that their needs will be met, and transparency is a key part of Intercorp’s business in gaining the trust of its clients.
Naturally, legislation can change, and a major part of Intercorp’s time and expertise is dedicated to monitoring legislative changes and ensuring, at all times, that clients receive a highly effective service based on the current state of tax legislation in the jurisdictions that concern them.
Tax planning requires a detailed knowledge of multi-jurisdictional legislation. Tax efficiency is, in practical terms, only possible when accompanied by a very specific knowledge of clients’ operations and of the regulations in the corresponding jurisdiction. Intercorp Group has a highly strategic position that covers most of the tax-related aspects of multiple jurisdictions.
As for the future, the key issue for Intercorp is to build client relations and continue to grow in stature in the industry. Underpinned by in-depth analysis and extensive expertise on the subject, the firm will continue to offer tax-planning services and build its renown in the region and beyond.