World Tax Reviews

Amprimo Flury Barboza & Rodríguez Abogados

The tax practice at Amprimo Flury Barboza & Rodríguez Abogadosis led by Partner Eduardo Joo. The group possess a well-recognised reputation for tax controversy. 

Over the research period, the group was engaged in an ongoing tax controversy case for Transvial Lima over challenging the “Vehicular Tax”. The team also advised and represented Centurylink on its challenge against a telecom tax.

Arbe Abogados

The tax department at Arbe Abogados have key experience in tax planning and structuring of corporate financing and for capital markets transactions. The group also has experience in M&A, applications of treaties, due diligence, consulting and tax auditing. 

Over the research period the team worked on an ongoing matter for Rinno La Peru, a main player in digital marketing. The team also advised Energy Development Corporation in its ongoing complex cross border restructuring. 

Partner Luis Valle joined the firm from Garrigues in June, 2019. Partner Ronald Stambuk left the firm for Antut Advisors in February, 2019.

CMS Grau

During the research period, the group was involved in the tax planning of a structure involving a large purchase by Brexia Gold Plata Perú. The team also provided tax advice to Maxima Internacional on a complex structure analysis that lacked jurisprudence.  

The team welcomed senior associate Jose María Escalante and Assistant Maria Fernanda. Yessica Manzur left the firm for EY in November 2019. 

De Bracamonte Haaker & Castellares Abogados

De Bracamonte Haaker & Castellares Abogados advises on tax planning, tax litigation and tax advisory. The firm comprises partner Cristina Chang who has an extensive experience on advising international clients that want to invest in Peru. 

During the past 12 months, the firm represented Nyrstar Netherlands Holdings and Nyrstar International in an ongoing tax litigation regarding the cost of shares cancelled or which nominal value has been reduced because of capital reductions. The team also advised Sociedad Francesa de Beneficencia and on the tax implications and analysis of selling a percentage of its medical business CSalud. 

Client feedback 

The work is brilliant, people at the firm are clearly very competent at their work. The follow up may be improved” 

Estudio Echecopar

A distinguished firm for its work in transactional tax related to M&A deals, Estudio Echecopar offers services in the areas of tax planning, tax advisory and transactional tax with a strong focus on merger and acquisitions, financial operations, bond issuances and international public stock offerings. The firm has a large base of international clients that invest in Peru. Rolando Ramirez-Gaston Horny is the lead partner. He regularly advises corporate and institutional clients on commercial and financial tax planning and on the tax aspects of M&A transactions. 

The team advised Parque Arauco and some of its subsidiaries in the purchase and integration of Megaplaza Shopping centres. The team also represented Baker Hughes in a complex tax appeal procedure that caused the Preuvian Tax Court to change their position on whether payment was not deductible for Income tax purposes if a judicial order was not in place. 

Client feedback 

They provide us an excellent service; their professionals have a high level of knowledge of tax issues and the tax legislation.” 

The main strengths are the knowledge of the laws, and the support we receive day by day in matters related to our business.” 

Estudio Olaechea

The tax practice at Estudio Olaechea handles the full spectrum of tax matters and advises local and international clients on cross-border, Peruvian matters and customs. The team is strong in tax controversy. The group also advises on tax planning and cross-border partnership agreements. 

Over the research period, the team advised Desarrollos Terrestres Peru on planning its large-scale expansion in Peru and South America. It is a transaction that is using a first-of-its-kind structure in Peru. The team is also advising TDM in ongoing dispute before SUNAT. 

During the past 12 months, the team welcomed director Ericka Caballero from PwC. Partner Carolina Rodriguez left the firm in December 2019. 

Client feedback

Excellent, fast response. Coordination with our team was very professional.


EY’s biggest strength in Peru is its transactional tax area focused on M&A transactions on both side of sellers and buyers. The firm has a strong focus on tax planning and consultancy practice areas advising domestic and international clients. Fernando Tori leads the LATAM North transactional team and has been involved in various merger and acquisition processes, due diligence works for international corporations and post-merger integration work. Roberto Cores focuses his expertise in developing complex structures for cross-border transactions and leading the wealth management and private client services. Edwin Sarmiento structures complex exit strategies for international and local clients (mainly oil and gas, private equity and energy) and prepares them for entering into the Tax Basis Certification procedure before the Peruvian Tax Authority for implementing their divestitures (through the Peruvian Stock Exchange our outside them). 

In 2019, the firm welcomed three associate partners, one senior manager and three managers. 

Client feedback 

Excellent. Good management of topics and contributions based on experience and benchmarks.” 

EY has great legal and tax knowledge EY offers expert services in different areas that complement each other.” 

Solid tax knowledge.” 

Good and detailed work. Technically strong. Foreign language fluency is an area for improvement – specifically English language.” 

Great teamwork. The tax team combines very well with the labour team. Very good level of customer service.” 

Excellent work made by the team accommodating our requests. To improve perhaps on clarifying accounting lingo in English vs Spanish.” 

Very structured and deep analysis. They presented several options with strengths and weaknesses of each, making sure we were aware of the whole picture.” 

The work they did was good and practical. They included their Colombian, Canadian and Chilean teams as well for giving the advice we required. From the positive side, I can tell that they were very professional and that the global teams helped to structure what we needed. On the weaknesses, I can say that when the transaction got more complicated they were not as helpful and fast as at the beginning.” 

Deep understanding of local nuances and private equity industry.” 

Proactive. Seeks for opportunities to work together with us.” 

Satisfied about the output and commitment to accompany us in the process.” 

I have had a very good impression of EY in this advisory. They have shown good coordination with all the jurisdictions involved, working as one unit in all aspects of their due diligence.” 

High quality level of advisory: quick and useful deliverables.” 

Excellent. Always available. Quick response. Strong knowledge of business. A real business partner.” 

The EY team is very effective at providing clear and concise reports of complicated tax matters.” 

Professional and immediate response to client.” 

Good service, expert in many subjects.” 


Garrigues in Peru provides services on in the areas of tax planning, tax advisory and tax litigation. The firm excels on tax advice to infrastructure and energy projects and tax planning for the structuring of major finance and corporate transactions. 

The firm advised Red Eléctrica Internacional – REI, in its acquisition of a 372km transmission line concessionaire from Bow Power/Cobra. The firm is also providing ongoing advice to Caposol on several corporate tax issues and representation on tax refund litigation. 

Over the research period, the team hired senior associate Ana Sousa and Associate Hernan Aquije. Principal associate Luis Valle left the firm from Arbe Abogados in May 2019. 

Client feedback 

Highly specialised and personalised. With impressive involvement of the lead partner of the tax practice De la Vega, who has a huge knowledge of not only the business needs but also accounting and of course tax consequences of the potential transactions involved.” 

Miranda & Amado Abogados

The tax department at Miranda & Amado possess a broad range of expertise, providing tax, planning transactional advice, litigation capabilities and all types of advisory work. The firm stands out for its strength in the sectors oil and gas, electricity, infrastructure and telecommunications. 

Over the research period, the firm assisted Siemens in a tax audit and obtained a favourable ruling. The firm also represented Telefónica del Perú in an ongoing claim before tax administration against an assessment of the FITEL Tax for the years 2007 to 2014. 

Partner Rocio Liu left the firm for Damma legal advisors in January of 2020. 

Osterling Abogados

José del Castillo Simón leads the tax department at Osterling Abogados, a law firm with an emphasis on tax litigation. The firm provides services in the areas of tax planning, M&A, tax advisory and tax consultation in different industries, including mining, real estate, insurance and pharmaceutical sectors. 

Over the research period, the team advised Ricardo Molina del Peru in a successful tax refund procedure for a client that had been previously denied, twice. The firm also advised Western Construction on preparation and planning to carry out the transfer and sale of assets that resulted in a significant savings for the client. 

Client feedback 

Strengths: their strong knowledge of the laws, the warm treatment towards their clients Weakness: given the present circumstances, I would appreciate it if they organised webinars to provide us with information on the latest changes that are taking place in the laws.” 

Payet Rey Cauvi Pérez Abogados

Corporate taxation, international planning and litigation are the main focusses of the tax department at Payet Rey Cauvi Pérez Abogados. The firm is also active in tax audits and M&A transactions. The team includes partner Vanessa Watanabe who has an extensive experience in providing taxation advice, focusing on tax planning for domestic and foreign companies with an emphasis on the mining, hydrocarbons and real estate sectors. 

The firm advised PSA marine Americas on the acquisition of Tramarsa Flota and its subsidiaries in Peru from the Grupo Romero. The team also provided counsel on the structuring and first issuance of Desarrolladora del Pacifico's first programme of corporate bonds. 

Philippi Prietocarrizosa Ferrero DU & Uría

Philippi Pietrocarrizosa Ferrero Du & Uría’s tax team includes 15 lawyers. The tax department excels in tax planning, tax advisory, international taxation, indirect tax and tax litigation. Moreover, the team is active in all the tax aspects related to M&A transactions in different sectors. The team advises domestic and international companies. In addition, the group has an emphasis on the transfer pricing practice area. 

Over the research period the firm worked on numerous complex and innovative cases. The team advised Uber on the implementation of its new business line in Peru. The group also assisted BRECA Group, a large Peruvian economic group on its tax planning of 20 local companies. 

Rodrigo Elías & Medrano Abogados

Rodrigo Elías & Medrano Abogados is among the top players in Peru. The tax department has a strong reputation in different sectors, including tax transactions related to M&A, tax planning, tax litigation, tax compliance and tax audits. The firm has also an emphasis on the transfer pricing practice area. Although the team covers an array of sectors, it is very active in banking, infrastructure, energy, telecommunications, oil and gas. The firm’s tax department is led by Alex Córdova. The team benefits from the presence of the founding member Humberto Medrano, who counsels foreign and national clients on the tax regime throughout the country and abroad. 

Over the research period, the team assisted on a variety of complex and innovative matters. The firm provided local counsel to Goldman Sachs & Co / JP Morgan Securities in the debt issuance to refinance the “Metro Line 2” project. In addition, the firm provided local counsel to Yangtze Optical Fiber and Cable Company joint venture $411 million financing agreement with the Peruvian government as part of a public-private partnership. 

The firm promoted associates Jean Paul Pinto and Shary Vergara and hired Martin La Rosa from Rebaza, Alcazar & de Las Casas. 

Client feedback 

Very professional general adviser with strong legal defence. Part of one of the premier law firms in Lima, Peru.” 

TGS Sarrio & Asociados

TGS Sarrio & Asociados was established in 1979 and became a member of Summit International, which was subsequently renamed Baker Tilly in 2001. The firm left that group in 2010 and took up membership with Grant Thornton. In September 2018 it chose to make a change again and came together with TGS. Its work is delivered in six categories: compliance, transfer pricing, tax consulting, legal consulting, labour consulting and tax outsourcing. 

The firm worked on numerous complex and innovative deals during the research period. All clients remain confidential. 

The group hired five tax and legal managers during the research period.