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The comprehensive guide to the world's leading tax firms

Cuatrecasas, Gonçalves Pereira is one of Spain's most prominent and widely respected firms. Competitors consistently praise the firm for its strong capabilities and quality of service. "Cuatrecasas absolutely belongs in tier one," said one peer.The tax ... [more]

Cuatrecasas, Gonçalves Pereira is one of Spain's most prominent and widely respected firms. Competitors consistently praise the firm for its strong capabilities and quality of service. "Cuatrecasas absolutely belongs in tier one," said one peer.

The tax department is led by Alejandro Escoda and Alberto Moya who jointly manage a team of 66 partners and 190 fee earners, one of the largest groups in the market.

Aside from advice in areas such as tax litigation, transfer pricing and indirect tax, the practice also has clients in more niche branches such as ecotax and sports tax.

The firm is advising Qatar Holding on tax structuring in relation to subscribing to an issue of Banco de Santander bonds convertible into shares of Banco Santander Brasil.

The team also advised Tcompanhia Siderúrgica Nacional, the Brazilian iron-and-steel group, on the tax aspects relating to re-designing its international business structure.

Professionals from the team also advised Caja Navarra and Caja Canaria on tax matters relating to integrating the systems of Caja Navarra, Caja de Canarias and Caja Burgos, and creating Banca Cívica.

The team is internationally-focused and works closely with multinationals with tax interests in Spain and on investment transactions with cross-border components.

Garrigues – Taxand has a remarkable presence with extensive experience – 100 of its 700 professionals are partners. The practice is led by Eduardo Abad.Antonio Matute and Itxaso Berrojalbiz advised Iberdrola, the energy company, on a complex cross-border ... [more]

Garrigues – Taxand has a remarkable presence with extensive experience – 100 of its 700 professionals are partners. The practice is led by Eduardo Abad.

Antonio Matute and Itxaso Berrojalbiz advised Iberdrola, the energy company, on a complex cross-border transaction involving two quoted entities in regulated sectors. The acquisition was structured so the client could optimise tax issues in view of possible future reorganisations of its holdings in Brazil.

Abad and Ricardo Gómez advised Banco Santander Group on the acquisition of by Zurich Financial Services Group of a majority stake in the Latin American insurance business of Santander Group.

Uría Menéndez has a solid reputation in the Spanish market and has consistently held its top-tier position. The tax practice is led by Rafael Fuster who manages a team of 10 partners and 16 fee earners.The tax department has worked on a large number ... [more]

Uría Menéndez has a solid reputation in the Spanish market and has consistently held its top-tier position. The tax practice is led by Rafael Fuster who manages a team of 10 partners and 16 fee earners.

The tax department has worked on a large number of transactions during the past year. These include private equity and structured finance deals, corporate reorganisations, real estate investments and securities' issuance.

Clients single out Juan Ignacio González as one of the leading partners in the energy group. "Other worth to mention professionals at the firm who have worked with us are Maria José Descalzo, Sebastián Saenz de Santamaría and Guillermo Canalejo," said a client. Tax proceedings, tax inspections and administrative and criminal litigation have been a good source of work for the firm this year. The firm advised HSBC and their clients on the regularisations and tax inspections derived from the disclosure of Swiss banking information to the Spanish tax authorities.

The practice also participated in a large number of M&A transactions. For example, they provided tax advice in relation to the transfer of the Gas Natural distribution business in Madrid which involved the acquisition of Securitas Direct by Bain Capital and Hellman & Friedman.

One client said: "Uria has added significant value to us in our acquisitions in 2010 and 2011, including the M&A side as well as the leveraged financing side of the transactions."

The acquisition of Indal Corporación and Industrias Derivadas del Aluminio, by Koninklijke Philips Electronics, the acquisition of four commercial real estate assets by Värde Funds and the separation of DIA's group from Carrefour's group.

Baker & McKenzie has a favourable position in the market and is respected by its competitors for its cross-border capabilities.The firm operates from offices in Barcelona and Madrid and has a team of 13 partners and 26 fee earners. Rodrigo Ogea manages ... [more]

Baker & McKenzie has a favourable position in the market and is respected by its competitors for its cross-border capabilities.

The firm operates from offices in Barcelona and Madrid and has a team of 13 partners and 26 fee earners. Rodrigo Ogea manages the tax team in Madrid and Pedro Aguarón heads the team in Barcelona.

A number of peers highlight Luis Briones as a key practitioner with specialist skills in M&A cross-border transactions.

The firm is a full service stand alone tax practice that encompasses tax practice areas such as transactional tax planning, corporate taxation, global reorganisations, tax litigation and transfer pricing.

In another notable deal this year, Maria Antonia Azpeitia and Raúl Salas advised FCC/PONTEGADEA on the sale and purchase of Torre Picasso.

The firm was required to act as deal counsel in the tax structuring of this landmark real estate transaction, which was the largest single-asset real estate deal in Spain since 2008.

Rodrigo Ogea, working closely with the firm's financial regulation department, advised JC Flowers on the tax and accounting structuring of its investment in CAM, a Spanish bank with substantial difficulties in meeting core capital ratios.

JC Flowers is one of the world's primary private equity investors in the financial services market and the first non-Spanish investor to bid for the bank in the context of the reorganisation. Many of the tax issues derived from this type of transaction are complex and there is a lack of specific tax regulations to address them.

Clients single out Ogea, Maite Díez, Roberto de la Concha and Jaime Martínez Iñiguez as some of the firm's key practitioners.

Deloitte has a strong tax practice with more than 300 professionals and 27 partners. The tax department is managed by Luis Fernando Guerra, who is also managing partner of the Deloitte firm in Spain.As a multidisciplinary firm, it covers all matters ... [more]

Deloitte has a strong tax practice with more than 300 professionals and 27 partners. The tax department is managed by Luis Fernando Guerra, who is also managing partner of the Deloitte firm in Spain.

As a multidisciplinary firm, it covers all matters related to tax advice. Clients of the practice are mainly Spanish businesses with an international presence and subsidiaries of overseas groups.

Clients mention Brian Leonard as their key contact. "Brian managed the relationship with me as the key contact very well," said one. "He was always available and would generally respond quickly to any points of concern I had."

Another client said: "Yes I was happy with the service overall. The key point of contact was Brian Leonard. General tax updates provided on changes in laws and developments from legal cases were always useful and relevant. They supported very well in tax audit work, also supported on key restructuring projects."

Work this year has included a broad range of services from M&A operations to aspects relating to transfer pricing management.

Juan Ignacio de Molina and his team prepared transfer pricing global masterfile and country specific files of 10 different legal entities for Mapfre, a Spanish multinational insurance company. De Molina also led a team in helping negotiate a multilateral advance pricing agreement with the UK, Germany and Spain tax authorities.

KPMG has a strong presence across Spain with offices in 12 locations around the country. The firm's tax department is its strongest and represents 70% of the firm's total turnover.Maria José Aguilo is the firm's head of tax and leads a team of 39 partners ... [more]

KPMG has a strong presence across Spain with offices in 12 locations around the country. The firm's tax department is its strongest and represents 70% of the firm's total turnover.

Maria José Aguilo is the firm's head of tax and leads a team of 39 partners and 559 fee earners. The team is reputable with many of its members being mentioned by peers and important market practitioners. Montserrat Trapé, for transfer pricing, Carlos Heredia, in cross-border structuring, and Natalia Pastor, an indirect tax specialist, are three partners that have been highlighted by competitors.

"We work principally with Victor Mendoza in international financial tax services. We are satisfied with the services provided by him and KPMG Spain, especially in coordination of international and global transactions involving more than two countries," said one client.

The firm has more VAT work and welcomed new hire Javier Sanchez Gallardo in 2011 from tax boutique Arco Abogados as a new indirect tax partner dedicated to this line of work. He has more than 10 years of experience.

Over the past 12 months, the firm advised an important telecommunications group on the procedure for recovering Spanish VAT. The firm also advised Ford España on VAT recovery.

Other work includes representing foreign funds in connection with withholding tax refunds the Spanish authorities have had to make because of European Court of Justice decisions.

Ashurst has built a good reputation in the Spanish market. Eduardo Gracia, who is head of department and someone who is known outside Spain, is responsible for a lot of this impact.For example, Gracia was re-elected for the third time as Spanish private ... [more]

Ashurst has built a good reputation in the Spanish market. Eduardo Gracia, who is head of department and someone who is known outside Spain, is responsible for a lot of this impact.

For example, Gracia was re-elected for the third time as Spanish private sector representative at the EU Joint Transfer Pricing Forum. And he is one of 50 advisers that have been invited by the Parliament of Catalonia to speak about tax devolution.

"He is an expert on international tax issues, especially on EU tax matters, and his knowledge of the EU market rules is impressive," one client said about him. Javier Hernandez Galante and Carmen Profitós are other Ashurst professionals that the market recognises for their expertise. Both lawyers, along with Gracia, advised Cepsa, a leading company in the petrol market, on the tax planning of an investment in a petrochemical plant in China.

Gracia has also been advising Procter & Gamble on negotiation with the tax authorities of two advance pricing agreements (APA) for toll manufacturing and principal-commissionaire structures.

Other work over the past 12 months included working on M&A and private equity transactions and advising clients in the administrative and judicial courts on Europoean and international tax issues.

In addition to Gracia, clients also praise Jorge Vázquez and Jose Christian Bertram. "I was happiest with debt advisory from Jose Christian Bertram," said one client.

Dentons has more than 30 tax lawyers in Barcelona and Madrid. Three senior associates have joined the team in Madrid. The firm has a number of leading clients in the energy, life sciences and real estate sectors. Work this year, led by Lourdes Pérez-Luque, ... [more]

Dentons has more than 30 tax lawyers in Barcelona and Madrid. Three senior associates have joined the team in Madrid.

The firm has a number of leading clients in the energy, life sciences and real estate sectors. Work this year, led by Lourdes Pérez-Luque, the head of the practice, has included advising Crédit Agricole on the tax implications of real estate transactions and leveraged investments through financial leasing agreements.

Pérez-Luque is an experienced M&A, tax planning and tax litigation adviser, with clients in sectors such as retail distribution services, energy, media and real estate.

"The contacts I have with Dentons, that are Lourdes Perez-Maricalva and Pedro Huertas, are great professionals, I am really happy to count on them as tax professionals and they are really accountable. I really recommend working with them," explained one client.

With a large team of 25 partners and 380 fee earners, Ernst & Young has strong capabilities and holds a good position in the market.Under the leadership of Federico Linares Ernst & Young's tax department expanded this year with the addition of include ... [more]

With a large team of 25 partners and 380 fee earners, Ernst & Young has strong capabilities and holds a good position in the market.

Under the leadership of Federico Linares Ernst & Young's tax department expanded this year with the addition of include five new recruits.

Maximino Linares joined from the tax administration in March 2012 and Eva Lasunción arrived as a partner from Cuatrecasas. Two advisers joined as executive directors, one from Garrigues the other from Cuatrecasas; and a KPMG practitioner joined as a senior manager. As well as 10 offices nationally, the practice runs Spanish tax desks at Ernst & Young in New York and Beijing.

The firm's work includes representing many of the 35 public companies in the Ibex stock exchange's key index, other leading Spanish multinationals and foreign company subsidiaries in Spain. Key sectors for the practice are oil and gas, utilities, construction, telecommunications, pharmaceuticals and retail.

In notable work, the team advised a Spanish oil and gas multinational on its international tax operations and internal tax structure.

The Latham & Watkins tax team is establishing a growing presence in the market and gaining recognition by peers for its transactional and cross-border tax work.Jordi Domínguez manages the department, which has professionals in the Madrid and Barcelona ... [more]

The Latham & Watkins tax team is establishing a growing presence in the market and gaining recognition by peers for its transactional and cross-border tax work.

Jordi Domínguez manages the department, which has professionals in the Madrid and Barcelona offices.

Dominguez and Iván Rabanillo advised a group of co-investors formed by VoRo Investment, Clementine Properties and Number 10 Property Investment. The assistance related to an investment in the shares and debt of Spanish entity, Plaza Francesc Macià 10, which will carry out the development of prime real-estate residential and retail properties.

In January 2012, the firm also advised Ventizz Capital Partners on Spanish corporate tax matters related to its investment in Rioglass Solar Holding SA, a leading manufacturer of solar reflectors.

The team has also been active in tax dispute work, representing a large broadband and telecommunications provider, one of the largest banks in Spain and one of the country's main multinational electric utility companies.

DLA Piper has a strong reputation for corporate tax work. The team is also active on capital market transactions.The head of department is Carlos Rodríguez who manages a team of three fee earners. "They acted for us briefly in regards to the structuring ... [more]

DLA Piper has a strong reputation for corporate tax work. The team is also active on capital market transactions.

The head of department is Carlos Rodríguez who manages a team of three fee earners. "They acted for us briefly in regards to the structuring of a confidential deal concerning multiple jurisdictions and which needed quick and flexible tax advice. The structuring came off well, though the deal has not yet been closed. They were extremely supportive and showed a high understanding of client's needs," explained one client.

Clients single out Rodríguez and Miguel Baz: "I am very satisfied with the service received by DLA," one said "These studies have focused on international tax planning in USA and Spain. I want to highlight the good work done by Carlos Rodriguez and Miguel Baz."

Another said: "Miguel Baz stands out as a very sound and solid practitioner who's very capable of finding the right answers under pressure. He coordinated teams from various places and was able to provide valuable responses in tight schedules."

Rodríguez and Miguel Baz gave tax structuring advice to Abengoa on the sale of a stake in the company to the private equity investment firm Reserve Corporation, a transaction that was aimed at strengthening Abengoa's financial capability.

Other work included providing St. Jude Medical with a second opinion on the tax implications of the acquisition of the AGA group and its proposed reorganisation in Spain. The team also advised Stericycle on the tax planning of the acquisition of Consenur, Sermed and Sanypick from Urbaser, a provider of regulated medical-waste management services.

Other work included advising the Emira Group on VAT issues related several real-estate acquisitions.Simmons & Simmons is active on a wide range of domestic and cross-border tax issues, with a particular focus on banking, capital markets and financial ... [more]

Other work included advising the Emira Group on VAT issues related several real-estate acquisitions.

Simmons & Simmons is active on a wide range of domestic and cross-border tax issues, with a particular focus on banking, capital markets and financial services.

Silvia Jiménez, from Deloitte, joined the Madrid practice, led by Juan Sosa Pons-Sorolla, and the firm plans to increase the size of the team further in the short to midterm.

The team has been active on a range of tax structuring deals in the context of employment terminations. This area of work has kept the firm busy over the past 12 months, with work coming from large financial sector clients with operations in Spain, in particular.

Over the past year, Simmons & Simmons increased its focus on the asset management sector. It has added more clients in the hedge fund business in the past few years. These businesses have provided a steady stream of work that usually requires complex and innovative advice.

Sonia Buxaderas heads the Baker Tilly tax department in Spain, which includes two partners and 12 fee earners. The team specialises in advisory services focused around compliance tax and international VAT.The firm advised a Spanish and Portuguese gift ... [more]

Sonia Buxaderas heads the Baker Tilly tax department in Spain, which includes two partners and 12 fee earners. The team specialises in advisory services focused around compliance tax and international VAT.

The firm advised a Spanish and Portuguese gift box marketing company on the international indirect tax treatment, including VAT, of new products.

The firm also advised a parent company and its subsidiaries on a structure for the recovery of VAT in relation to an international transfer of assets for a civil work project.