As tax adviser to Pemex, the country's only state-owned oil company, PwC is a leader in tax-related issues in the energy sector. It has drafted opinion letters for Pemex about the tax implications of opening up the country's oil sector and is advising ...
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As tax adviser to Pemex, the country's only state-owned oil company, PwC is a leader in tax-related issues in the energy sector. It has drafted opinion letters for Pemex about the tax implications of opening up the country's oil sector and is advising on the tax aspects of three incentive-based contract deals the government awarded in October and November 2011. These contracts effectively open up the oil sector to foreign companies, which will be paid in cash, not oil, since the constitution does not allow any company, aside from Pemex, to exploit the country's oil reserves. Apart from the energy sector, PwC's tax practice is also particularly strong in the auto industry, consumer goods and media. During the past year, the group was involved in the largest M&A transaction in Mexico's history. David Cuellar, international tax services partner and infrastructure and energy, oil and gas leader, was the lead Mexican tax partner for Anheuser Busch InBev in its $20.1billion acquisition of Mexico's Grupo Modelo, makers of Corona Beer. Ivan Jaso leads PwC 's indirect tax practice. Karina Perez, a former adviser at Servicio de Administracion Tributaria (SAT), Mexico's tax authority, heads the tax dispute practice, which acquired a new partner with the promotion of Fernando Lorenzo in July 2012. Mauricio Hurtado, who leads the transfer pricing practice, is highly regarded by peers. "I would not recommend anyone else for transfer pricing issues," one competitor said. Hurtado's group lost a partner when Jaime Heredia Montejano left to join Ernst & Young in February 2012.
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