Regional Review: Latin America 2025
Praxity firms continue to shape the professional services landscape in Latin America
Latin America continues to stand out as a dynamic growth region, demonstrating resilience and a relentless ability to harness opportunity. Praxity member firms across the continent are helping to shape this momentum, offering trusted guidance and local expertise to businesses navigating change. As global supply chains shift and regionalisation gains pace, Latin America is becoming a key location for investment, innovation and long-term growth. The region’s ability to adapt to global pressures while maintaining a forward-looking outlook is creating new avenues for collaboration and service development.
‘Praxity firms continue to shape the professional services landscape in Latin America, navigating a competitive environment while fostering collaboration across borders. Member firms occupy a solid presence in a space largely dominated by the Big Four accounting firms in the region, as a result of its consistent engagement with clients and the ability to adapt to regional expectations.’
Wesley Figuera, VBR Brazil
Growth Trends & Nearshoring
This evolving landscape is prompting a shift in the type of support businesses require. Nearshoring is encouraging companies to reassess their operational models, with many choosing to establish or expand their presence in Latin America. The region’s proximity to major consumer markets, markedly the USA and Canada, combined with its growing infrastructure and skilled workforce, is attracting attention from manufacturers, technology firms and service providers. Praxity firms are responding with tailored solutions that help clients navigate regulatory frameworks, assess investment opportunities and build sustainable operations.
Tax & Compliance Evolution
Tax and compliance frameworks across the region are undergoing significant change. Governments are revisiting double tax agreements to align with BEPS standards and reduce treaty abuse. Advanced pricing agreements, country-by-country reporting and OECD Pillar Two documentation are becoming more widespread. At the same time, tax authorities are adopting digital audit tools, which is increasing demand for automation, data management and advisory services that support tech-enabled compliance.
EU–Mercosur Impact
The EU–Mercosur trade agreement, signed in December 2024, has added further momentum to cross-border activity. European firms entering Brazil, Argentina and neighbouring markets are seeking support in tariff classification, regulatory compliance and disclosure obligations. Praxity firms are helping clients navigate these requirements while also providing M&A advisory services to support strategic expansion.
“Despite an anticipated downward trend, Praxity firms in the region continued to enjoy year on year growth with 19% in 2024. VBR has contributed to this upward trend by focusing on operational improvements and regional restructuring. These changes have brought greater agility and accountability to the firm’s regional strategy.”
Wesley emphasises the importance of collaboration among firms to enhance service offerings and streamline procurement. Bundling software purchases and sharing operational insights are delivering more value to clients, while managing costs.
Sector Focus
Manufacturing growth is reshaping service priorities. Automotive and industrial sectors are leading the way, with firms offering cost accounting, capital investment advisory and location benchmarking. Incentive analysis and project finance restructuring are becoming essential tools for clients evaluating long-term investment plans. Governments are introducing new tax benefits to attract foreign manufacturers, and firms are stepping in to provide guidance on site selection and cross-border structuring.
Digital trade is also gaining momentum. Free trade agreements across South America are introducing new obligations around e-invoicing, data localisation and cybersecurity. Businesses are seeking support to comply with digital trade clauses and implement regulatory technology solutions. Praxity firms are expanding their digital transformation consulting services to meet this demand, helping clients modernise operations and remain competitive in a fast-changing environment.
Foreign direct investment continues to rise, particularly in sectors such as renewable energy, agribusiness and logistics. Firms act as local partners, guiding investors through regulatory frameworks, financial modelling and outsourced CFO services. In high-risk jurisdictions, there is growing demand for anti-money laundering and anti-corruption advisory, alongside impact assessment and green finance structuring.
Cultural Insight & Leadership
This evolving landscape is prompting a shift in the type of support businesses require. Nearshoring is encouraging companies to reassess their operational models, with many choosing to establish or expand their presence in Latin America. The region’s proximity to major consumer markets, markedly the USA and Canada, combined with its growing infrastructure and skilled workforce, is attracting attention from manufacturers, technology firms and service providers. Praxity firms are responding with tailored solutions that help clients navigate regulatory frameworks, assess investment opportunities and build sustainable operations.
Latin America is no longer viewed as a secondary market. It is becoming a strategic centre for innovation, investment and transformation. As regionalisation deepens and digital trade expands. Wesley Figueira’s chairmanship is driving the regional alliance toward a future defined by strategic clarity and regional cooperation. By aligning operational goals with cultural values, the Alliance is strengthening its position in Latin America and contributing to ever greater innovation and resilience. With a shared vision and deep local expertise, Praxity member firms are not only grappling with the complexities of the region but leading the charge.