A leading firm in Uruguay, Bergestein Abogados’s tax department is led by Jonás Bergesteim and is comprised of two partners and six other professionals, including partner Domingo Pereira. The tax department excels in tax audits, tax advisory and information requests from the tax office. In addition, the firm has a strong transfer pricing practice area. Clients include large domestic and international companies across a range of sectors with an emphasis on e-commerce and agribusiness.
During the research period, the firm assisted a multinational company on tax consequences of its expansion in Uruguay. Moreover, the tax group represented a multinational technology company in relation with tax treatment on online sales of music and videos.
Deloitte in Uruguay provides services on tax planning, tax assessments, regional and international tax consulting as well as transfer pricing. Key contacts at the firm are Enrique Ermoglio and Gonzalo Lucas.
Over the research period, the tax team worked on different tax matters. It represented companies on the development of global strategies, advised expatriates and companies receiving foreign staff and it assisted companies on tax incentives. The firm had also a focus on litigation.
FBM Advisory is a boutique firm with a strong focus on tax advice and international planning. The founding partner Fabián Birnbaum has extensive experience in local and international advice to national and international clients. The firm is also specialised on tax aspects, inheritance and patrimonial protection related to family offices.
During the research period, the team represented the global fintech company Ebanx on its tax issues. Another interesting mandate saw the tax group advising the football team Peñarol in Uruguay on local tax issues. It also supported El Novillo Alegre on its M&A process with Tienda Inglesa.
Gianni Gutiérrez leads Ferrere’s tax department, along with partner Isabel Laventure. The tax team at Ferrere is comprised of eight lawyers and more than 40 accountants and it is considered one of the few departments in Uruguay devoted only to tax. The group has gained a reputation for a range of tax expertise, but it excels in tax litigation. Moreover, the tax team is strong in advising on all the tax aspects in connection to cross-border M&A transactions. Although the tax team is active in different sectors, it has developed expertise in complex tax matters in the energy and natural resources sectors.
During the research period, a standout deal was to act as Uruguayan and Paraguayan counsel to Hidrovias do Brasil on its first bond issuance. Another complex mandate saw the team advising Uber on the structure of its onshore and offshore operation, dealing with the Uruguayan Tax Authority. Other clients included Nokia, Argos Froyanes Company and New Force Energy Services.
“The team is complete and they have a great knowledge of taxes. They are reliable and provide an excellent service. They are always available and ready to help.”
Nicolás Juan is the managing partner at Grant Thornton and one of the most experienced tax accountants in Uruguay. The firm provides services in tax audits, tax advisory and it has a strong transfer pricing practice area.
In the corporate tax practice, the group advised Roman Group on requesting and obtaining corporate tax exemptions and indirect exemptions. In addition, it represented Anastacio Hotel & Beach Club Jose Ignacio on every matter related with the authority.
Guyer & Regules is among the top players in Uruguay. Juan Manuel Albacete leads the tax department. His practice covers tax litigation, tax consultancy and tax planning for the oil and gas sector with an emphasis on M&A transactions and finance deals. The large and expert team is comprised of six partners and 48 associates, including lawyers and CPA. The tax group offers services on tax assistance and planning as well as the litigation process. Clients include local and international companies engaged in different sectors. Guyer & Regules’s global reach is guaranteed by being a member of many leading international networks, such as the world’s leading association of independent law firms LexMundi.
Over the research period, the tax group represented Agropecuaria del Litoral and worked on the tax matters involved on its process of setting up a millionaire financial trust. Another interesting mandate was the representation of HSBC Financial Uruguay on submitting a claim before the Tax Authority to recover $5 million in VAT. The matter is ongoing. Other clients included Nobilis Corredor de Bolsa, Enjoy and Baluma.
The firm saw the departure of senior associate Juan Bonet who left for Lexin.
“Guyer & Regules is an excellent tax service provider, providing an accurate and fast delivery, with personal contact and a professional team. They are a partner of our company and understand the needs, the due dates and the priorities as we do.”
An international tax and private wealth consulting firm, Innovation Tax & Trust is a boutique firm with offices in Uruguay, Spain and the US, specialised in tax and wealth management for family offices, private companies and trust. The team is comprised of five lawyers, including two partners and 10 tax advisers. Juan Ignacio Fraschini is the CEO and founding partner. The firm is very strong in international tax planning for multinational companies and it is active in an array of sectors.
During the research period, the group advised Aeromexico on its international structure. In addition, it supported TV Azteca on its international tax structure and Metlife in relation to changes in tax transparency laws.
In July 2019, the team lost Fabián Birnbaum who founded his own firm.
A leading firm in Uruguay, KPMG excels in international taxation and it has a strong reputation in transfer pricing. Clients include domestic and international companies. The firm is also very active in tax controversy.
During the research period, the tax team worked on a number of complex and innovative tax matters. For example, it worked on tax aspects regarding the treatment of cryptocurrencies. Another interesting mandate saw the team representing a multinational group on tax structuring related to its reorganisation. The team was very active also in tax controversy. All the names remained confidential.