Tax in Paraguay

BKM | Berkemeyer

With 'extensive experience and knowledge of local tax regulations', BKM | Berkemeyer fields a comprehensive tax practice, which acts for international and domestic clients on everything from cross-border deals and innovative tax structures to audits and litigation. The department benefits from specialist focus throughout the team: Mauro Mascareño's 11 years of experience have seen him assisting with local and international tax advice, tax planning, tax litigation and tax refunds; and alongside him heading the practice is Federico Valinotti, who focuses on international investments and cross-border transactions, and has Cámara Nacional de Comercio y Servicios del Paraguay (CNCSP) as a key client. Associate Carlos Vargas is a further contact to note; he is experienced in local and international tax planning, tax litigation and tax credits.

Practice head(s):

Mauro Mascareño; Federico Valinotti

Testimonials

The team is highly involved with internal issues, and that allows them to resolve queries in a short time. The disposition that the firm always has allows coordinating meetings with lawyers from other countries, and solving needs in a short time.

Despite being associated with multiple firms in different countries, BKM stands out for the great importance and dedication that they place on each query. They have extensive experience and knowledge of local tax regulations.

The team works with great seriousness, integrity and quick responses. Experience in the field also makes an important difference.

In the experience in the tax field, the level of success in the cases and the personal and professional treatment.

The partners who are dedicated to the tax area have a deep knowledge of the applicable regulations. Has great agility to frame operations and determine courses of action and eventual contingencies.

I believe that in this area, what makes BKM stand out is the great capacity and specialisation of its partners in charge.

Everything related to tax, corporate, assembly and board of directors, labour is handled very well and precisely, we really have great confidence in the work team led by Carlos Vargas.

Carlos Vargas: Integrity, intelligence, with immediate responses, always ready to solve any question or issue related to the client, knows in detail the problems of each situation, paying careful attention to what we as clients need, which means security for every action we are going to take.

Key clients

Cámara Nacional de Comercio y Servicios del Paraguay (CNCSP)

Cámara Paraguaya de Farmacias (Cafapar)

Sacyr Concesiones

Rutas del Este

Perfecta Automotores

API Movilidad Sucursal Paraguay

Sif América

Exxis Paraguay

Scimitar Oryx Partners

Ubrique Desarrollos

Tarva – Casatúa

Vía Brasil

Nativa Agrícola

Recsa

Universal

American Tower Corporation

Acciona Aguas Sucursal Paraguay

Tetra Pak Sucursal Paraguay

Incade – Universidad Americana

Agroganadera Santa Fe

Quiroga Medios

FNV Capital

Agroganadera El Dorado

Dalazen

Produza

Trans Este Oeste

Ñandutí Representaciones

Grupo Bazzi

Araguaney

Importadora Audi

Compañía de Petróleo y Asfalto (Compasa)

Addiuva Group

Almacenes Generales Columbia

Astarte Capital Partners

Beiersdorf

Deriv Paraguay

Metro World Digital

Santex Group

Cargill Agropecuaria

South American River Company

Sodrugestvo

Consorcio ASI Paraguay

Dlocal Paraguay

ECB Group

Tavamay

Talavera & Ortellado Construcciones

Unilever de Paraguay

Jeunesse

Comercial Santo Tomás

Grupo Alfa Transportes

Sistemas Electrónicos del Paraguay (Sepsa)

American Assist Paraguay

Cadiem Administradora de Fondos Patrimoniales de Inversión

Cadiem Casa de Bolsa

Work highlights

  • Representing the CNCSP in the tax reform process promoted by the government.
  • Represented Cafapar in the preparation, substantiation and presentation of a binding consultation made to the tax administration.
  • Advised Incade on the applicability of exoneration of real estate tax for entities that use real estate property for educational activities.

Mersán Abogados

Originally founded as a tax boutique, this discipline remains one of the key pillars at Mersán Abogados, which has specialist lawyers advising domestic and multinational companies in a range of sectors, as well as contributing to Paraguayan tax legislation. The team’s work covers the full range of matters in the market, including advice on the tax aspects of contracts and commercial transactions; reviews of tax proceedings; export tax credit recovery; litigation before tax or judicial authorities; and tax incentives and special investment regimes. Experienced senior partner Carlos Mersán heads the team alongside Tomás Mersán, who was promoted to the partnership in January 2021. Since publication: we are saddened to report that Carlos Mersán passed away in February 2022.

Practice head(s):

Carlos Mersán; Tomas Mersán

Key clients

Banco Itaú Paraguay

Pepsico Paraguay

Banco do Brasil

Bolsa de Valores y Productos de Asunción

Corporación Interamericana de Inversiones

British American Tobacco

3M Paraguay

Aseguradora del Este

Verbank Securities de Bolsa

Sudameris Bank

NB Casa de Bolsa

Sudameris Leasing

Albarus

Sidus

Laboratorio Almos

Universidad Columbia del Paraguay

Pure Circle

Farmacenter

Granja Avícola La Blanca

Minerva

Etiquetas Adhesivas

Valorix

Vitol

Ball Corporation

Financiera El Comercio

Estudio Nora Ruoti & Asociados

Tax boutique Estudio Nora Ruoti & Asociados is headed by renowned specialist practitioner Nora Ruoti and acts for its diverse client base on the full range of matters, including tax planning, tax audits, incentives, compliance and litigation.

Ferrere

Ferrere‘s tax law department is best known for assisting international clients on the tax aspects of their operations and transactions in Paraguay, working closely with its corporate practice as well as sister accounting firm CPA Ferrere. The team also has a strong base of domestic clients, with Merco Par and Petrolera San Antonio being among a crop of new clients to this practice. The team’s recent workload has been dominated by assistance to multinationals on transfer pricing rules introduced in 2021, as well as on delays and amendments to tax reforms introduced in January 2020. Senior associate Erika Bañuelos is the primary contact; she is well versed in corporate restructurings, tax planning, investments in the country, and day-to-day queries. Corporate partner Néstor Loizaga co-leads with her, while María Julia Méndez and Horacio Sánchez are both regularly involved across all matters.

Practice head(s):

Néstor Loizaga; Erika Bañuelos

Testimonials

The flexibility in the approach to the requirements and the high professionalism of the lawyers who are members of the firm.

I would highlight the always direct attention of Néstor Loizaga and his permanent availability.

Timely and skilled service delivery.’

Erika Bañuelos is courteous, skilled and thorough in details.’

Key clients

BASF

Charles Chalkling

Merco Par

Baker & McKenzie

Petrolera San Antonio

LukOil Pan Americas

Credicentro

Bank of America

Bunge Paraguay

Electropar

Cargill

Impala Terminals

Work highlights

  • Advised Petrolera San Antonio and Merco Par on administrative summaries before the customs authority.
  • Advised LukOil Pan Americas on the implementation of the fiscal and custom obligations related to the importation of fuel into Paraguay from the tax-free zone, through onshore and offshore business models.
  • Assisted Puente Casa de Bolsa with the fiscal consequences of the operations conducted by investment funds in Paraguay.

Vouga Abogados

'An excellent team', Vouga Abogados provides tax advice to a mixed client base of domestic and international companies, and has recently focused on finding new ways to increase profitability and clients' return on investment with tax-efficient practices, reducing the effects of the additional income tax levied on the remittance of dividends abroad. Practice co-head Andrés Vera 'has a high expertise in his area of ​​practice'; in addition to assisting clients with day-to-day tax matters, Vera also collaborates with colleagues to advise on the tax aspects of transactions. Senior partner Rodolfo Vouga coordinates the practice with him, and Silvia Benítez is the name to note for contentious matters.

Practice head(s):

Andrés Vera; Rodolfo Vouga

Testimonials

Andrés Vera has a high expertise in his area of ​​practice, which allows him to offer legal recommendations, always being one step ahead of the conflicts that could arise, despite the current tax changes. In addition, Andrés, having experience working in the fiscal public sector, stands out for his comprehensive knowledge of the operation of entities in the area, promoting best practices for their clients.

The firm has an excellent team, as it has corporate / labour and tax lawyers and as a whole, when a specific situation is analysed for a client together with our team of accountants, the result is very positive.

In particular, the lawyers with whom I have worked have the ability not only to answer what the client asks but also to raise possible situations that could be generated by the type of operations carried out by the client. I have collaborated with Andrés Vera and Silvia Benitez during 2020/2021.

Great people, knowledgeable about local tax but also international finance. Very responsive and accessible.

Andrés Vera is a professional who stands out widely in the sector.

They are good professionals, they are up-to-date and always willing to collaborate.

Key clients

ADM Paraguay

Prosegur Paraguay

Consorcio Expo – UIP / ARP

UIP (Paraguayan Industrial Association)

British American Tobacco Productora de Cigarrillos

Copetrol

John Deere Financial Chile

Zavidoro Corporations

GLT Casa de Bolsa

Work highlights

  • Advised Grant Thornton on the tax aspects of its incorporation in Paraguay.

Olmedo Abogados

In tax matters, Olmedo Abogados is particularly noted for its strengths in litigation, while its advisory practice covers a broad range of work, from audits and structuring to tax incentives. José Ignacio Olmedo and Gustavo Olmedo jointly coordinate the department.

Peroni Sosa Tellechea Burt & Narvaja

Peroni Sosa Tellechea Burt & Narvaja's tax department assists with the relevant aspects of commercial and corporate transactions, and is also noted for its work in tax evasion investigations. Juan Carlos Boggino and Marcos Peroni are the two contacts to note.