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My name is Alejandro Ramallo, and I work as a tax director in IMPSA, which is a renewals company, green energy, basically with hydro products, hydro turbines, and wind farms that we wield in Latin America, mainly. We also have some manufacturing plants in Malaysia, and we’ve got some work in companies in the US and Europe.
I think I am very well connected with the strategic planning in my company. I have double reporting to the CEO and the shareholders, so I basically participate in many meetings where they discuss not only the day to day activities, but the strategic and the alternative for the short and medium term, so I think I am in the right place just to hear what is happening and to suggest some advice on the way that we can handle the planning.
Mainly are the tax savings. This is all the things that are claiming for us, and sometimes not only the economics, but financial issues are important, not only to save taxes but to defer taxes could be important. Nowadays, when the worldwide and multinational companies are running out of money and need financing and so on, so I think deferral of taxes also is a good measure. I think we also have to deal with some complex environments that we have in many countries, especially in Latin America. Brazil and Argentina have very deep and very complex legislation, it’s very dynamic, and they change almost every day sometimes, so I think we have to be very well connected to colleagues of our companies, enterprise chambers, and everything that can help us to be online and to be proactive in the new changes.
It’s very difficult in a tax function, because probably if you are performing well, you are just making savings doing well the taxes, so I think that the big measure is the tax savings. The second measure, I think, is to see how you can defend or you can protect your company from tax inspections or tax audits. I think this is a good way. The second is how you can improve the businesses or the projects with your added value. I mean, if you are just looking through alternatives in how to face the business, how to implement the projects, once you analyze the project, you can show the impact in taxes, and I think this is a good measure to see how you are successful in your function.
We try to hire people with high potential, very dynamic, with a good relationship with the others. I think, is very important because of the tax profile that they have, people that are usually working in that side, I think working in a company, it’s very important to be very, very close to the businesses and to have a good relation with all the business as well, so you have to have not only high technical people, but with good relationship, like, can play and work as a team in the organization.
To be close to the leaders and to the decision makers, I think the key success of our role is to be considered as partners in the business. Sometimes we, in the past, or nowadays, especially in Latin America, that our role is not very close to the directors or to the leaders. Sometimes it’s seen as a problem in the organization, as a stone in the path to reach the success of the business, so I think the success of our function is to be close to them, to be confident with them that they can trust us, they can tell us what they are thinking about, and at the beginning of the project, at the beginning of the business, we can help them and try to go in the right direction to be the most profitable in their projects, and to avoid any tax provision, any tax measure, and diminish the tax burden in general terms in the project or businesses.
Alejandro Ramallo, Tax Director, IMPSA, talks about how tax can connect to the business.
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