Tax: The Big Four in Spain

Deloitte Legal

The multi-disciplinary Deloitte Legal practice combines international expertise with a broad industry focus. The firm has particular strength in innovation and technology in the area, utilising fully integrated robotic process automation (RPA) tools, as well as AI, machine learning, blockchain and data analytics. Brian Leonard leads the team and has experience in international tax planning, transactional tax, business reorganisation, compliance, control and tax accounting. Also notable in the department are Jose María Gómez Rosende, who focuses on the tax structuring of M&A, tax due diligence procedures, international tax planning of multinational groups, financial reorganisation and tax advice on structures for private equity funds; senior associate Irene Reoyo Serrano, who specialises in international taxation; and principal associate Jorge Martín Girola Mariño, who advises on a range of tax matters.

Practice head(s):

Brian Leonard

Other key lawyers:

José María Gómez Rosende; Ignacio Medina; Francisco Martín Barrios; Fernando Aranda; Ramón Laynez; Irene Reoyo Serrano; Jorge Martín Girola Mariño

Key clients

ALLIANZ

VIRGIN MEDIA

TOTAL

DWS

APG-ELECNOR

TELEFONICA

LOPESAN

BINTER

Work highlights

  • Advised Allianz on the tax due diligence of the business contributed by BBVA Seguros, as well as structuring the deal and review of the legal documentation governing the deal.
  • Conducted due diligence on Virgin Media and aided on tax structuring and the tax aspects of the SPA.
  • Advised Total on tax due diligence, structuring advice and SPA assistance.

EY Abogados

EY Abogados combines local technical knowledge with a global capacity in tax, legislative and administrative matters. The multi-disciplinary practice has expertise in the energy, real estate and TMT sectors, in addition to its ‘strong specialisation in the financial sector’. The firm’s broad experience covers transfer pricing, blockchain, business tax, indirect tax, global compliance, reporting and private client matters. International tax specialist Ramón Palacín has experience in assisting multinationals in international tax and transfer pricing matters, supply chain solutions and controversy procedures. He co-leads the team with Rocío Reyero, who is head of the firm’s international and transactional tax services for Europe, Middle East, India and Africa. Other key names in the area include Araceli Sáenz de Navarrete, who handles corporate income tax advice, tax due diligence and structuring advisory services, and indirect taxation expert Eduardo Verdún.

Practice head(s):

Ramon Palacin; Rocío Reyero

Other key lawyers:

Eduardo Verdún; Araceli Saenz de Navarrete; Sonia Díaz; Javier Seijo Pérez

Testimonials

They have a strong specialisation in the financial sector, always attentive to news and relevant circumstances in the sector.’

‘They are active and close in dealing with the client.’

The team is integrated into the inhouse team and strives to understand the reality of the client’s business and seeks the best way to create value in the projects in which we have collaborated.’

‘They contribute competitive ideas and create value in the projects in which they collaborate.’

Very large team, with a vast international network and almost immediate response capacity. Very committed, very proactive, with a very balanced team in knowledge and skills.’

‘Regarding VAT, Eduardo Verdún stands out. As a former Treasury Inspector, he held the position of Deputy Director responsible for VAT in the General Directorate of Taxes and his experience and his vast knowledge, his ability to anticipate the tax administration and his versatility when facing problems are noted. Solid, reliable and very safe, he is a reference in the sector.’

‘In terms of corporate taxation (Corporation Tax) Araceli Saenz de Navarrete Crespo stands out without a doubt. She is a deep expert in the financial sector, with an encyclopedic knowledge of national and international taxation. To this must be added a special sensitivity to deal with delicate matters and a simply extraordinary capacity for work. She is an excellent and highly efficient team leader.’

Key clients

Iberdrola

Telefónica

Másmovil

Patrizia

Air Europa

Puig

Mubadala

Helia Renovables

Amundi

Cubico

TPG

Allfunds Bank

Hines

Brookfield

Cain International

Starwood

Work highlights

  • Rendered tax, financial and legal advice to Iberdrola in the sale of a 40% stake in East Anglia One, an offshore wind farm of the Macquarie Group in the North Sea.
  • Provided tax advice to Mas Móvil in recent years where it has completed relevant deals to gain its current position in the Spanish market.
  • Rendered tax advice to Patrizia on the purchase of a large European logistic portfolio, comprising assets in Italy, France, Netherlands, Germany, Luxembourg and Spain from GreenOak.

KPMG Abogados, Spain

Specialising in all taxes affecting companies and individuals, KPMG Abogados, Spain provides expertise in tax management, indirect tax, real estate tax, transfer pricing and M&A tax services, including tax due diligence, tax structuring and tax modeling. The firm is also experienced in tax disputes before national and EU courts, as well as advising on complex tax audits. Alberto Estrelles leads the team, which includes global transfer pricing expert Montserrat Trapé and Julio César García Muñoz, who focuses on corporate tax and tax litigation issues.

Practice head(s):

Alberto Estrelles

Other key lawyers:

Julio César García Muñoz; Montserrat Trapé; Victor Mendoza

Key clients

BROOKFIELD ASSET MANAGEMENT INC.

MACQUARIE GROUP LIMITED

EQT INFRASTRUCTURE IV INVESTMENT SARL (I.E. EQT FUNDS)

IAG (INTERNATIONAL CONSOLIDATED AIRLINES GROUP)

MARME INVERSIONES 2007, S.L.

BANCO SANTANDER

FCC

BANKIA

INDRA

GOLDMAN SACHS

Work highlights

  • Provided tax advice to Brookfield Asset Management on the acquisition of Johnson Controls International’s Power Solutions business unit, and the subsequent restructuring of the group.
  • Provided tax structuring services to Macquarie in connection with the sale of a 75% stake of Viesgo Group to EDP.
  • Advising Pai Partner on tax due diligence of the Spanish target entities of B&B Group and tax structuring regarding the potential merger of the entities to be acquired.

PwC Tax & Legal Services

Acting for large domestic and international corporations, PwC Tax & Legal Services balances a full-service practice that covers the full spectrum of tax matters, notably corporate transactions, international taxation, corporate tax and real estate tax. Cross-border and government work are also areas of specialism for the firm. Among the names to note in the sizeable team are Joaquín Latorre, Antonio Sanchez, Ana Rodríguez Cantarero, Javier González Carcedo, Alexis Insausti, Roberta Poza and Alberto Monreal.

Practice head(s):

Joaquín Latorre; Antonio Sanchez; Ana Rodriguez Cantarero; Javier González Carcedo; Alexis Insausti; Roberta Poza; Carlos Reviriego; Alberto Monreal; Alfonso Viejo; Miguel Muñoz; Pedro Olmedilla; Asunción Martín; Silvia Parés; Rafael Rodríguez; Miguel Ángel González; Oscar Alonso

Key clients

BBVA

KKR

CVC Capital Partners

BT España

AFAR 4, SL

Mediaset España Comunicación, S.A

AQ Acentor Development Sl

MBERP III Spanish Holdco, S.L.

Work highlights

  • Assisted in the migration into Spain of a BBVA’s Captive Insurance Company previously based in Ireland.
  • Provided tax advice (structuring and due diligence) to KKR in the IPO of Telepizza Group.
  • Advised CVC Capital Partners on the tax aspects of its acquisition of Universidad Alfonso.