Simón Somohano, Deloitte Mexico, is a tax partner based in in Mexico City and Tijuana, responsible for Deloitte's Transfer Pricing practice in Latin America and the Caribbean Region.
He has more than 26 years of experience in the application of tax, economic and financial criteria in Transfer Pricing, Anti-dumping/subsidy investigations, Valuation Analysis of Intangibles, double tax treating issues, planning, Business Model Optimization, structuring and economic consulting.
Under his leadership, Deloitte's regional transfer pricing practice has been consistently recognized as one of the leading practices in Latin America, including 2016 Americas Tax Awards-Mexico Transfer Pricing Firm of the Year.
He has consistently been named as one of the World's Leading Transfer Pricing Advisors by the prestigious Legal Media/Euromoney Magazine.
His clients include several Fortune 500 multinational companies doing business in Mexico. He has extensive experience and a successful track record leading the Mexican negotiations of Advanced Pricing Agreements (APA); Mutual Agreement Procedures (MAP) and Transfer Pricing examinations with Mexican and foreign authorities, teaming with colleagues in Deloitte's global transfer pricing network.
Mr Somohano advises in a variety of industry sectors, mainly automotive and manufacturing, maquiladoras, retail and consumer goods, real estate, and the energy and resources market.
He also provides specialized counseling to clients in several anti-dumping and subsidy investigations.
Mr Somohano is a frequent guest speaker in international tax and business forums in Mexico and abroad.
He has authored several articles on Transfer Pricing in specialized journals and is a co-author of Transfer Pricing International Handbook. A Country-by-Country Guide published by the International Tax Institute and Transfer Pricing. A Theoretical, Legal and Practice Framework, published by the Institute of Chartered Accountants (Mexico).
His professional accreditations and affiliations include Board member of the Transfer Pricing Committee of the Institute of Chartered Accountants (Mexico) and lead transfer pricing advisor to Mexico's National Export Maquiladora and Manufacturing Council (INDEX). He has also been certified as a Financial Consultant from Mexico's Securities and Banking Commission.
He holds a M.Sc. degree in Economics and Finance from Warwick University's Business School (UK) and a BA in Economics from Universidad Panamericana (Mexico City).
A member firm of
- Deloitte Touche Tohmatsu
- A member firm of
- Deloitte Touche Tohmatsu
Mexico's president on 8 September sent to Congress an economic package that includes proposed amendments to the Income Tax Law (ITL) and the Federal Fiscal Code (FFC) with transfer pricing implications. According to the legislation's explanatory memorandum, the goal is to incorporate the BEPS agenda...