Peru

The tax practice of Arbe Abogados offers experience in tax law with emphasis in tax planning, as well as structuring corporate financing, and capital markets transactions. The group supports clients across a range of industries including mining, tourism, and construction. 

During the research period, the firm has been active across the region. Arbe’s team continues to represent clients in litigation matters with the tax authority, as well as advising on corporate tax matters and assisting with M&A transactions. Due to the nature of these matters many of them are confidential.

Client feedback

“Quick response, easy explanations, always ready to help.”

BDO Peru has a team of four professionals dedicated to providing tax and transfer pricing services. The team services clients across industries including mining, wholesale, retail, real estate, and entertainment. 

During the research period, BDO was active in tax matters. The firm assisted Acciona Group with infrastructure projects involving the VAT early recovery special regime. Similarly, BDO advised GLEEDS Group with several tax matters related to their G2G Project. 

The firm has been active in recruitment, in November 2022 BDO welcomed new partner Carlos Carpio.

CMS Grau’s tax practice has a record of participating in transactions in the regulated industries of mining, oil, and energy. Often, the team advises foreign investors in the preparation of regulatory proposals on tax matters in the same industries. The office is a part of the international firm CMS, which has offices connected across forty-two countries.  

During the research period, has been active throughout region in tax matters. The firm assisted automotive company Derco Peru S.A, with structuring and tax planning associated with its new joint venture with Santander Bank. The multi-million dollar project involves the promotion of auto loans within the country, and profit sharing between the two companies. 

In 2022, CMS Grau has been active in recruitment. The firm welcomes new partner, Yessica Manzur, who joins the team from PwC Peru. The firm also welcomed new associate, Rodrigo Castro who also joins from PwC Peru.

Client feedback

“Simple and understandable explanation.”

“Know very well the client, the expertice of their profesionals, good fees.”

The tax department of Damma Legal Advisors provides services related to consultancy, auditing, restructuring, and litigation. The boutique firm assists both domestic and foreign clients with operations in Peru. Clients include leaders in such sectors as mining, pharmaceutical, real estate, and agriculture.  

During the research period, Damma Legal Advisors assisted Accor S.A, a multinational hotel company with tax matters in connection to its Peruvian franchises. The firm assisted with restructuring, and implementing tax efficiency for the hotel chain. Damma Legal also assisted with intra-party transactions, and real estate holdings for Accor.

Client feedback

“Agility, Accuracy, Excellence, Trust.”

“Damma always show us the scenario holistically, emphasizing the essentials and attention to detail.”

“Always are in a very good avalability to answer questions and legal advice.”

“Effective advise, holistic knowledge, fast and trustworthy staff.”

“The industry knowledge and technical skills.”

“Highly skilled and very accesible when urgent support is required.”

“Personalized assistance. Very good advise even if not requested.”

The six-person tax department of De Bracamonte, Haaker & Castellares Abogados advises in the areas of tax litigation, tax planning, tax audits, and day-to-day tax advisory. Recently, advice on M&A and corporate deals has made up a significant volume of the firms work.  

Recently, The De Bracamonte, Haaker & Castellares team has been assisting Vita Pharma and Key Farm with corporate tax matters. The firm conducted analysis and and risk assessment to provide solutions for the clients in regards to Income Tax and VAT consequences stemming from an accounting reconstruction in 2015. The firm is currently acting for MERCK PERUANA in a customs case against the Tax Administration involving imported goods, valued at $1 million. The case is one of many the Tax administration has been carrying out in the pharmaceutical industry of Peru and may set precedent upon completion.

Client feedback

“They are very exhaustive with the review of our documents and any information given. Normally they take their time to respond but their performance is high-level contributory.”

“Creative and Closeness”

“Clear and precise information.”

“Very creative”

Deloitte Peru, is a worldwide organization with a global network of member firms in more than 150 countries. Deloitte Peru is a part of network of member firms, through which clients can gain the benefits of global reach while retaining access to local tax knowledge. The firm provides clients with a wide range of integrated tax services, including advice on Global Business Tax, Indirect Tax, Tax Dispute, and much more. The local team is led by Yanira Armas.  

During the research period, Deloitte Peru has been active in several tax matters. The firm advised on a corporate re organization process involving the application of the anti-avoidance rule. The firm was also involved in Tax and transfer Pricing Litigation matters involving adjust operating expenses for a drug distribution company. Due to the sensitivity of these matters, they must remain confidential in nature. 

DS CASAHIERRO ABOGADOS tax department provides tax services in tax planning, litigation, transfer pricing, M&A and audit defence. The firm specializes in the transportation, agriculture, retail, finance, and mining sectors. The tax department is led by Percy Castle. 

During the research period, the firm advised NHOA Americas, in a construction project in Chilca, Peru. The new project aims to build a new Power Plant in Chilca. DC CASAHIERRO, was involved in the tax planning as well as the drafting of the EPC Contract. 

In 2022, the firm was active in recruitment bringing on two new senior associates. Violeta Moncada joins the team from PPU, and Luis Ribbeck joins from TPC Group. 

Estudio Echecopar is a member firm of Baker & McKenzie International. The team is the only tax department within a law firm in Peru which can provide international tax planning and transfer pricing services, due to their Baker & McKenzie relationship. Additionally, they advise on tax planning for foreign and local clients in corporate transactions and M&A operations. The firm also houses a tax litigation group.

During the research period, Estudio Echecopar has been active in transactional matters. The firm assisted Talma Servicios Aeroportuarios S.A with the tax structuring for their purchase of Enfoca Servicios Logisiticos S.A. The firm analyzed tax implications and came up with a cost efficient tax structure for the sale of $163.5 million in shares to Talma.

Client feedback

“They reviewed the procedure and assertively provided the advising in order to avoid possible contingencies with tax authorities in Peru.”

The tax practice of Estudio Olaechea is led by partner Jorge Dávila. The team advises both local and international clients on Peruvian and cross-border tax matters. The most common areas the department advices on include, tax planning, double taxation agreements, cross-border partnership agreements, as well as tax and customs disputes. 

During the research period, Estudio Olaechea was active in corporate tax matters in the region. The firm provided tax planning services to mining company Noatum. The mining company seeks to undertake an new mining project, the firm assisted with the tax structuring as well as an alliance with a third party. 

In September 2022, the firm promoted senior associate Michael Morales to Partner.

EY Peru houses the largest tax practice, in terms of revenue generated, team volume, and transactions assisted, in the country. David de la Torre leads the group of over 700 professionals. Sub-areas in which the team specializes include tax advisory, tax compliance, litigation, international transactions, private clients, and transfer pricing. The practice stands out for its international taxation expertise, as the firm is supported by EY ́s global network. 

During the research period, the EY tax team has been active in the Transactional tax space. The firm assisted Lumen Technologies in their sale of its incumbent local exchange carrier to Apollo Global Management. The $2.7 billion sale, involved an indirect transfer of a Peruvian subsidiary, and is a part of the clients LATAM exit strategy.

Client feedback

“Excellent performance.”

“Fernando Tori and Edwin Sarmiento provide creative and efficient structures to get the deal done. We’ve had a lot of interaction in several deals. Issues are always discussed in a technical manner and solved timely.”

“They go the extra mile to understand our operations and to help us define a strategy to defend our case in front of tax authorities here, minimizing our risks and giving us very valuable insights to manage our tax risks.”

“Excellent technical performance, availability and communication.”

“Great liaison with clients. Good analysis and understanding of the tax frameworkk. Good network with authorities.”

“Very technical approach. Closeness. Availability to always serve us.”

“Proactive, responsible.”

Garrigues Peru is led by Partner Javier De La Vega. The department provides services in the areas of tax planning, tax advisory and tax litigation. The firm excels in providing tax advice to infrastructure and energy projects. Additionally, the team often leads tax planning for the structuring of major finance and corporate transactions. 

During the research period, the Garrigues tax team was active in the market. The team was involved in several disputes with the Tax administration. Due to the sensitivity of these matters they remain confidential.

Client feedback

“Because of their high quality standards and ethical behavior.”

The tax department of Hernández & Cía has been active in Peru for thirty years. The practice advises on tax structuring, tax compliance, tax audits, local and cross-border tax planning, and litigation.  The group has particular expertise in corporate tax law, and regularly participates in transactional structuring, financing, and infrastructure projects. The team is led by five partners.   

During the research cycle, Hernandez & Cia’s team acted as counsel to Andino Investment Holdings in acquisitions of multiple Peruvian entities. The firm was also very active in tax controversy matters representing various clients including Seven Seas Water, Condor Travel S.A, La Fragata S.A and CIAMSA. Due to the sensitivity of these matters they shall remain confidential.

Client feedback

“Is the best in the Market”

“Excellent performance.”

“They also have excellent attorneys in that matter.”

“I have worked there. They have very capable tax lawyers.”

“They see the details and give innovative solutions that can be applied.”

“Guaranteed experience. Professional solvency. Extensive legal knowledge.”

KPMG Peru’s tax team is comprised of over 130 practitioners that provide service in the areas of tax Compliance, Tax advisory, Transfer Pricing, Immigration and Labor, Tax Law, Tax technology, and Global mobility services. They have garnered an expertise in the mining, oil, energy , financial, and retail sectors.

During the research period, KPMG has been active across Peru in tax controversy, transactions and corporate tax matters. Due to the sensitivity of these matters they shall remain confidential. 

In 2022, the firm has been active in recruitment. The firm welcomed new partner Beatriz De La Vega Rengifo. In September, Lizarraga Ibanez Jorge Luis joined the team as Director from a previous position at EY.

Miranda & Amado’s tax department provides a broad range of tax expertise. They assist clients with tax planning, complex cross order transactions, litigation matters, and tax structuring. The firm is known for its expertise in the oil, gas, electricity, infrastructure and telecommunications sector.  

During the research period, Miranda & Amado’s tax team represented Telefonica del Peru in a tax dispute against Pronatel. The firm acquired a favorable judgement for the client valued at over $150 million.

The tax department of Osterling is led by José Del Castillo. The practice advices across a range of tax concerns, including, corporate taxation, tax planning, audits, as well as preventive advisory aimed to reduce tax-related risk. The team provides both preventive and specific services on day-to-day tax related matters, as well as in specific complex cases such as, audits, and tax structuring for M&A deals.  

During the research period, Osterling’s tax team was called upon to provide their legal opinions for the Peruvian Congress. The issue at hand was regarding the tax treatment of educational institutions in Peru. Osterling gave its opinions on three bills directed at educational reform that is to come.

Client feedback

“Their consultancy is customised and of very high professional quality. Their analysis is accurate and thorough. They are familiar with the criteria usually applied by the tax authority and provide answers in line with them. They always have our business goals in mind when answering our queries. We have a lot of confidence in them.”

With offices in Peru, Chile, Colombia and Spain, Phillippi Prietocarrizosa Ferrero & and Uria operates at both a regional and international level allowing them to be a key firm for oversea investments. The firm consists of 13 lawyers with specialties in both direct and indirect tax, customs, tax litigation and transfer pricing.

During the research period, the tax team was involved several corporate tax matters. They are currently representing Compania De Minas Buenaventura S.A.A in a transaction to sell one of the largest gold mines in Latin America. They are also advising on the acquisition of Minera La Zanja. These complex mining transactions require a high level of expertise and sophistication that the lawyers at PPU possess.

Client feedback

“Very knowledgeable on tax matters.”

The PwC Peruvian tax practice is comprised of 7 partners and over 50 practitioners. The practice provides services in Transactions, Transfer Pricing and Litigation. They frequently serve multinational companies as well as local companies and have a high leve of expertise in the Technology, Financial, Pharmaceutical, Retail, and Insurance sectors.

During the research period, PwC assisted Las Bambas, one of the largest mines in production with Transfer Pricing matters. The firm also advised Credicorp Capital Asset management on corporate tax matters. Due to the sensitivity of these matters details shall remain confidential.

Client feedback

“Knowledge of the issue, availability to the client and willingness to simplify complicated topics.”

Rodrigio Elias & Medrano is one of the largest firms in the Peruvian legal Market. The firm assists a wide range of industries such as mining, energy, banking, insurance, retail, telecommunications, oil & gas, technology and transportation. They provide services in M&A , equity and debt financing, restructurings, foreign investments, and litigation. With overseas affiliates, the firm is positioned well to provide exceptional international services to their clients.

During the research cycle, Rodrigo Elias & Medrano was hired to represent automotive company Inchcape in their acquisition of Derco. The firm had to analyze potential consequences of the transaction. The transactions valued at over $1.5 billion, significantly influences Inchcape’s position in the automotive market of Peru.

Client feedback

“Rodrigo Elias & Medrano is a full service firm with expertise in multiple areas. Tax controversy and M&A advisory are to highlight due to the experience of Alex Cordova and Jose Talledo Vinces, which are experts in such sub-specialties

“I have worked there. They have very capable tax lawyers

“They have a strong team and client base

“They are very accurate and efficient in their legal advice

“They advice is fast, efficient and accurate

“The firm is always available to provide a prompt response on complex issues. They have a strong team, which works closely with the company. Their knowledge and up-to-dateness is outstanding, as is their ability to approach the issues involved from all possible angles.”

Salazar & Zuniga Abogados, was formed in 2023 as a spinoff from Martinot Abogados. The firm consists of 5 lawyers dedicated to providing services in Corporate tax, Indirect Tax, Private Client, International tax and Litigation. The practice is led by Rafael Ramon Salazar Mendoza.

During the research cycle, the firm was active in tax matters in the region. Due to the nature of these matters, they shall remain confidential.

Client feedback

“Are punctual; Organized; clear and precise in their reports.”

“They are punctual in their work. Your suggestions are understandable. They are always attentive to our requirements.”

TGS Sarrio & Asociados has more than 40 years of experience providing Audit, Tax & Legal, Consulting and Outsourcing services in Peru. The firm is a part of The TGS Network, which has 70 member firms in 57 countries.

During the research period, the TGS Sarrio team has been an active player in the Peruvian Transfer Pricing arena. The firm provided reports for various clients, as well as conducting benefits tests. The firm continues to provide services for both local and multinational clients. 

In July of 2022, the firm hired new Tax and Legal Director Hernan Vasquez. Hernan joins the TGS Sarrio team from AVLA Peru.

The team at Thorne Echeandia & Lema Abogados is comprised of 6 practitioners, with an ever-growing client list both locally and internationally. The firm provides services in Transfer Pricing, Tax structuring, Tax planning, corporate tax, tax litigation, and intercompany transactions.  

Presently, the firm participating in litigation procedures for Nexa Resources. Nexa, being a large mining exporter was seeking VAT refunds for mineral exports. The firm is representing the moning company before the Tax administration.

The boutique law firm of Zuzunaga, Assereto & Zegarra Abogado has a tax team comprised of eight partners, two directors, and thirteen associates. The department’s main areas of practice include consulting, litigation and tax arbitration, corporate tax, tax planning, and International trade and customs.

During the research period the Zuzunaga tax team has been active in tax matters in the area. The firm has been involved in tax controversy, indirect, corporate tax and transactional matters. Due to the nature of these matters they remain confidential.

Client feedback

“It is recognized as a good boutique on tax issues.”

“Because they have excelent attorneys in this matters.”

“Impressive knowledge of the law, full availability, very client friendly.”

“Deep knowledge of Peruvian tax law.”

“Think out of the box and consider different angles to a single problem.”

Since their emergence in 2005, BaseFirma’s Transfer Pricing practice has grown throughout Latin America. The firm has 11 offices throughout Latin America and services both local and foreign clients. Basefirma provides services in compliance, transfer pricing documentation, litigation services, and advising. 

During the research period, the firm advised a Peruvian medical device manufacturer on the effectiveness and profitability of their transfer pricing policy. The firm is also engaged in litigation matters for a telecommunication client regarding compliance with a benefits test. Die to new regulatory practices within Peru, Transfer Pricing matters have been exceptionally challenging and require a high level of sophistication to meet OECD and BEP standards.  

In 2022, the firm was active in recruitment bringing on new manager, Cynthia Canessa. Cynthia joins the team from previously working at EY Peru.

The Grant Thornton International network spans over 140 countries. The Peruvian office has about 100 professionals dedicated to Transfer Pricing. Some industries they provides services to include; construction, retail, logistics, automotive, pharmaceutical and technology. They provide solutions for all Transfer Pricing reports, Benefits testing, and TP compliance.  

During the research period, Grant Thornton Peru was active across the region in Transfer Pricing matters. The team provided Benefit testing, tax planning, and  DEMPE services for Inversiones El Pino SAC. The firm also assisted DERCO Group with their Transfer Pricing reports including the Local File and Master File.  

In 2022, Grant Thornton has been very active in recruitment bringing on 16 new practitioners. Among these new hires are new Tax manager, Sandra Basurco Garcia-Zapatero, who joins from EY. The team is also joined by new Tax Director Jose Maria Escalante - Garcia.

TPC Group is an International Transfer Pricing and Consulting Firm, made up of a network of strategic partners in Latin America, the USA and Spain. The group specializes in transfer pricing consulting; however, they also provide tax planning services to multinational groups.

During the research cycle, TPC group has been active in the transfer pricing market of Peru. Due to the sensitivity of these matters they shall remain confidential.

Client feedback

“TP Consulting is a leading firm in the field of transfer pricing, due to its extensive experience and knowledge in the field. They also have highly specialized professionals in the field.”