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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Paraguay > Tax > Law firm and leading lawyer rankings


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Who Represents Who

Find out which law firms are representing which Tax clients in Paraguay using The Legal 500's new comprehensive database of law firm/client relationships. Instantly search over 925,000 relationships, including over 83,000 Fortune 500, 46,000 FTSE350 and 13,000 DAX 30 relationships globally. Access is free for in-house lawyers, and by subscription for law firms. For more information, contact


Quick’ and ‘preciseBerkemeyer Attorneys & Counselors’ provides ‘first-class service’ and fields a two-partner practice that is ‘vastly experienced’ across the full array of tax matters, including tax planning, tax litigation, fiscal incentive schemes, transfer pricing and export/import customs. Recent mandates saw the team advising Sacyr Concesiones on tax aspects of the PPP project for the construction of Routes 2 and 7; and counsel Monte Alegre on the potential tax treatment of payments for roll over financial derivatives positions. The client roster also features Grupo Enex, Unilever del Paraguay and Azar Internacional. ‘Highly experienced’, Federico Valinotti is lauded for his ‘strategic planning’ and specialises in the tax aspects of international investments and cross-border transactions; while Mauro Mascareño, who arrived from Estudio Nora Ruoti & Asociados in 2017, is an expert in transfer pricing and litigious tax matters.

Undoubtedly one of the leading tax practices in the country, Mersan Abogados has a wealth of experience in transactional tax matters, tax credit recovery proceedings, tax litigation, tax incentives, double taxation treaties and free-trade zones. The practice group, led by the renowned Carlos Mersán, is also adept at advising domestic and multinational clients on creating tax-efficient corporate structures and joint ventures. Diego Zavala, Pablo Cheng Lu and associate Tomás Mersan Riera are all key advisors. Representative clients include Banco Itaú Paraguay, Citibank, Pepsico del Paraguay and Farmacenter among others.

Leveraging off the excellent reputation of name partner Nora Ruoti, tax boutique Estudio Nora Ruoti & Asociados has developed a diverse client portfolio including names such as Agrofertil, American Airlines Paraguay, Asociación Paraguaya de Fútbol, Grupo Silva Berg, Paraguay Trading and Tecnomyl. Areas of expertise include tax audits, tax planning, tax-related investment advice and tax litigation.

Olmedo Abogados’ two-partner tax department is one of the first destinations for domestic and international high-profile clients seeking advice on tax planning, customs matters, and transactional as well as litigious tax matters. Recent work saw Victor Agüero act on behalf of MSU Agropy in an administrative proceeding regarding withheld tax; while the eminent Gustavo Olmedo continues to represent Codiel in a lawsuit against the National Customs Office concerning the alleged wrongful withholding of tax reimbursements. Other names to note are junior partner Fernando Gadea and associates Verónica Escobar and Rodrigo Muñoz.

The tax practice at Ferrere is commended for its wide-ranging expertise in tax structuring, personal income tax and transactional tax matters. Among a selection of recent mandates, the group handled tax matters related to the constitution of a trust fund for the purposes of administration and securitization on behalf of Instituto de Previsión Social; and advised Cisneros Interactive on the applicability of withholding tax. The practice is led by Néstor Loizaga (who advises on tax matters related to investment regimes, M&A and corporate structures), and also includes tax litigator Erika Bañuelos, who specialises in customs law, tax refund cases and administrative proceedings. HBO Latin America and JP Morgan Chase joined long-standing clients Petrobras and Bunge Paraguay on the client list.

Widely respected’, Vouga Abogados fields a four-strong tax department that is co-led by ‘administrative law expert’Andres Vera and Rodolfo Guillermo Vouga. The team demonstrates strong experience in tax planning, tax credit recovery and fiscal incentives, and also undertakes the tax aspects of cross-border financing and transactions. Vera is currently advising Prosegur Paraguay on the tax aspects of its acquisition of assets from Radar, including VAT and income tax advice. Mariana Reis, who heads the firm’s Brazilian Desk, is also a key member of the tax practice. Other clients include ADM Paraguay, Sodrugestvo Group, AMAGGI and the Paraguayan Industrial Association.

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