Tax in Spain

Baker McKenzie

With ‘high technical quality and business vision’, Baker McKenzie advises on a broad spectrum of tax matters, notably transactional tax planning, global reorganisations, wealth management, private equity and venture capital, transfer pricing, real estate taxation and employee benefits-related matters. The firm ‘anticipates problems’ and is also known for contentious tax work. The team is co-led by Rodrigo Ogea, who has a ‘great knowledge of the law and is focused on tailored solutions to the problems of his clients’; VAT specialist Maria Antonia Azpeitia; Bruno Domínguez, who has expertise in tax planning and consultancy; and Ana Royuela, who advises domestic and international companies on international tax, VAT and disputes. Senior associate Antonio Albarrán is also noted; he advises Spanish and multinational companies on VAT and indirect tax matters.

Practice head(s):

Rodrigo Ogea; Bruno Domínguez; María Antonia Azpeitia; Ana Royuela

Other key lawyers:

Esteban Raventós; Bruno Domínguez; Jaime Martínez-Íñiguez; Antonio Albarrán; Davinia Rogel


The Baker McKenzie team we work with is highly specialized and very knowledgeable about the different problems that can be generated in each of the cases raised. They are also very pragmatic and decisive and offer suitable solutions for situations that arise taking into account the client’s business. In addition, the fees are very adjusted to the quality of the service and the time spent.’

‘Some tax advisors are specialized in local issues, some are specialized in international issues. Rodrigo Ogea has the rare ability to offer the same confidence in both topics.’

‘The lawyers we work with are the partners María Antonia Azpeitia, Jaime Martínez-Iñiguez and Ernesto Grijalba. All of them present an extraordinary knowledge of tax matters, a total availability towards the client and a very pragmatic and close to business approach.’

Deep knowledge of the different applicable regulations both nationally and internationally. Constant disclosure of regulatory changes, updating and advice to all the necessary players in the organization. From Baker Mckenzie they always provide us with information, and mentor us in the strategy and tax treatment of the different situations and needs of our company.’

‘Ana Royuela has been the partner who has attended us in our needs. She is an excellent professional, she has provided service at all times, solving our doubts and concerns in a very short time, if not at the moment. She has great knowledge in all her subjects and is advised in other cases by very good professionals.’

In addition to their technical level and the ability they have to provide high-level advice throughout the world due to the degree of integration that exists between the offices of the different countries, the most remarkable thing about their service is the fact that they have the highest priority attend to the concerns and needs of its clients; That is to say, they do not forget that legal advice must always be at the service of the business, and should facilitate it as much as possible. Proactivity is the priority of the tax practice of the Barcelona office, they are aware of the most recent criteria and news and are capable of applying innovative solutions.’

‘I would highlight its closeness and availability with clients, and an amazing ability to quickly resolve legal issues both in Spain and abroad. Those are the qualities that I have been able to appreciate in the partner responsible for the tax practice, Bruno Domínguez. Despite his youth, he is a lawyer who already enjoys well-deserved recognition in the Barcelona market and is considered one of the rising “stars” in the sector. I think the contribution of an associate of his team, Davinia Rogel, is also noteworthy.’

‘First is excellent knowledge of the Spanish VAT regulations and also in deep understanding of how Spanish authorities are implementing the rules in practice. Quick and practical responses. And Maria and Antonio are easy to talk to, do not panic even in stressful situations. Overall they provide great results for us (e.g. favorable tax rulings). ’

Key clients



Banco Santander


Emerson / Panavision Tours / and others

Fondo de Reestructuración Ordenada Bancaria (FROB)

Grupo Corporativo Landon

Minor Hotel Group Limited



Quarza Inversiones


Work highlights

  • Provided tax advice on the financing of the €575m renovation project of Santiago Bernabeu Stadium (Real Madrid Stadium).
  • Provided NATURGY tax advice regarding the acquisition by Naturgy of 34% of Medgaz from Mubadala.
  • Provided ARCANO tax advice in regard to the launching of AVA II, a real estate investment fund with a focus on residential assets located in Spain and Portugal.


Specialising in corporate taxation, private taxation and tax proceedings, Cuatrecasas has experience in a range of work, including real estate, international, financial and indirect taxation, as well as customs, accounting law, transactional tax, human resources and transfer pricing. With broad expertise in cross-border work, the firm has a particular focus on Latin America, but is also active in matters involving the US, Middle East and China. In addition, the practice provides advice on proceedings, appeals and disputes with the Spanish tax authorities and issues related to large M&A transactions. Alicia de Carlos leads the team, which includes tax expert Carlos Ferrer, and Alejandro Escoda, who advises international private clients on investments and international reorganisations. The firm was strengthened further in November 2021 with the arrival of tax litigation expert Eva Martín Díaz.

Practice head(s):

Alicia de Carlos

Other key lawyers:

Martí Adroer; Alejandro Escoda; Carlos Ferrer; Fernando de Vicente; Carles Puig; Andrés Sánchez; Miró Ayats; Jorge Arqués; Ignacio Costa; Antonio Barba

Key clients






Penguin Random House

F.C. Barcelona

Banco Sabadell



Work highlights

  • Advising Aldesa on the tax aspects of the sale of a 75% stake in Aldesa Construcciones.
  • Advising Medgaz on the acquisition of a 42.09% stake in Medgaz by Naturgy and Sonatrach from Mubadala.
  • Advising Emefin on the tax aspects of acquiring a 78.85% stake in pet care specialist Kipenzi (Masquepet).


From offices in Europe, the US, Latin America and China, Garrigues advises on transfer pricing, tax litigation, M&A deal structuring, domestic and international corporate taxation, compensation and benefits, VAT and private client matters. The firm also provides a global service focused on the legal profile of tax inspectors, judges and magistrates, as well as tax governance and tax compliance advice. Eduardo Abad specialises in taxation and regulation of financial entities and products. He leads the team, which includes Ricardo Gómez, who focuses on M&A and tax litigation; Gonzalo Rincón de Pablo, who advises multinationals on a range tax matters; and principal associate Fernando Santos, who is experienced in providing tax advisory services.

Practice head(s):

Eduardo Abad

Other key lawyers:

Ricardo Gómez; Carlos Gómez; Gonzalo Rincón de Pablo; Rafel Calvo; Ramón Tejada; Fernando Santos

Key clients

Banco Santander

Banco BBVA









Work highlights

  • Provides tax advice to Bolsas y Mercados in relation to the tender offer made by Six Group.
  • Advised Bankinter on the spin-off of its subsidiary Línea Directa for €1.4bn.
  • Advised BBVA on taxation in the context of a complex joint bancassurance venture between BBVA and Allianz.


Linklaters has a 'very complete team at all levels, from partners to associates’ with ‘unrivalled knowledge and experience’. The firm covers the spectrum of tax matters, including advising on corporate group restructurings, tax litigation and collaboration on the drafting of tax law. Javier García-Pita has experience advising on the taxation aspects of M&A, capital markets transactions and restructurings. He co-leads the practice with Alejandro Meca, who advises private equity houses and financial institutions on tax issues related to cross-border M&A, leveraged acquisitions, capital markets, real estate transactions and litigation. Managing associate Carlos Olmedo and Margarita de la Peña Virgós are also noted.

Practice head(s):

Javier García-Pita; Alejandro Meca

Other key lawyers:

Margarita de la Peña Virgós; Álvaro Albiñana; Abel Ayuso; Carlos Olmedo


‘Javier García-Pita and Alejandro Meca. Dynamic team with brilliant ideas.’

‘An exceptional team with unrivalled knowledge and experience.’

‘Alejandro Meca is simply the best tax lawyer in Spain. Great technical skills combined with great client skills. He uniquely manages to combine great advice, allowing clients to take decisions with comfort, with an unrivalled commercial perspective. Top class. ’

‘Linklaters Tax is a top tier Spanish tax law firm. The team provides top quality advice on real estate and debt restructuring transactions. ’

‘Alejandro Meca, Partner is extremely responsive and provides clear advice on complicated investments. He is a great source of knowledge on Spanish tax developments.’

‘Margarita de la Pena is proactive and issues efficient legal deliverables.’

‘Alejandro Meca (partner): differs in proactivity, in the search for standard and alternative solutions, ease of dealing, English above average and availability and speed in answering. – Carlos Olmedo (associate): undoubtedly he is a person who always has the topics very worked and analyzed. your emails are always accurate, concise and never delayed. Exceptional customer treatment.’

‘Of the partners Javier García-Pita and Alejandro Meca, I would highlight (i) the outstanding technical level they have, (ii) their absolute availability no matter what day / time they are required (iii) transparency and clarity in their opinions, offering very high trust and credibility. At the associate level, Álvaro Albiñana and Abel Ayuso are surprising due to the maturity, technical knowledge and global vision that they show in their years of experience.’

Key clients

Intu Properties

The Carlyle Group

Six Group



ProA Capital





CVC Capital Partners


Work highlights

  • Advising Intu on all tax aspects in relation to the transfer of the entire share capital in Zaragoza Properties SOCIMI in favour of Generali SCF and Union Investment Real Estate.
  • Advising Carlyle on all tax aspects in relation to the acquisition of a significant minority stake in Compañía Española de Petróleos (Cepsa) from Mubadala.
  • Advising SIX on all tax aspects in relation to the public offer for Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros (BME), the operator of Spanish financial market infrastructure.

Uría Menéndez

Providing 'technical soundness, good sense and prudence’, Uría Menéndez is known for its ability to ‘minimise tax risks by always putting itself in the customer's shoes and treating their problems as their own’. The ‘consistent, rigorous and dedicated’ practice is well versed in both contentious and non-contentious tax matters, including those related to business combinations, equity and finance restructurings, capital market deals, real estate transactions, corporate investments and business development structures, as well as policy developments. Practice head Rafael García Llaneza focuses on corporate tax, non-residents tax and accounting law. The deep bench of expertise includes ‘skilled negotiatorDavid López Pombo, who ‘stands out in corporate taxation’; Víctor Viana Barral, who has the ability to ‘resolve seemingly intractable issues in tough negotiations with extraordinarily imaginative and highly tax efficient solutions’; Miguel Cremades, who handles corporate and international tax; and highly regarded senior associate Violeta Pina.

Practice head(s):

Rafael García Llaneza

Other key lawyers:

Jesús López Tello; Guillermo Canalejo Lasarte; Víctor Viana Barral; David López Pombo; Rosa María Atienza Pérez; Álvaro Paniagua; Adriá Riba


It is among the best in Spain without a doubt. I would highlight the analysis of operations from a global point of view, not only fiscal, but also commercial and accounting, which adds a special value to their work. Extraordinarily good at Corporate Tax and corporate restructuring operations. Unbeatable, I would say.’

Uria Menendez differs from other firms because it brings together the following strengths in a single team: competence, commitment, availability and resolution capacity. They combine all this with a desire for service, putting themselves in the place of their client and providing the absolute security of acting correctly. What differentiates it greatly from other firms is its reliability which, for us, translates into absolute peace of mind in terms of tax decisions.’

‘In my opinion the most thorough and reliable tax team in Spain.’

‘Victor Viana is exceptional and very very reliable. He also has built a strong associate team. We work quite a bit with Rosa Atienza and she has a bright future. Victor has also built up a good supporting team. Victor is also extremely available.’

‘Violeta Pina Montaner has been with us managing the team for years, and the empathy and judgment she has is excellent.’

‘Jesús López Tello continues to be, from my point of view, the most versatile tax expert with innovative ideas that I know.’

‘In the case of tax practice, Alvaro Paniagua has been outstanding in the work he has done for us. Alvaro has not only given us the information regarding our situation (relatively complex) but has gone further to find the best solution that suits our needs.’

‘Without a doubt, their technical knowledge, their kindness, their willingness and their ability to anticipate future problems make it very easy to work with them and ultimately what differentiates them from other firms. I would cite three lawyers: Victor Viana, Miguel Cremades and Adriá Riba.’

Key clients











Work highlights

  • Advised Banco Santander on the tax aspects of the sale to Canadian Pension Plan Investment Board (CPPIB) of a portfolio of unpaid mortgage loans.
  • Advised Mediaset España Comunicación on the cross-border merger of Mediaset España Comunicación and its parent company, Mediaset with and into Mediaset Investment N.V.
  • Advised KKR on the legal and tax aspects of the voluntary tender offer for 100% of the shares of Telepizza Group made by KKR private equity.

Allen & Overy

Allen & Overy provides multi-jurisdictional tax advice on capital markets transactions and products, banking transactions, tax-based structured finance, corporate reorganisations, restructurings and M&A. The firm also assists with the setting up and structuring of investment funds and provides ongoing tax support in the context of real estate investments, in addition to handling other, standalone tax matters. Practice head Adolfo Zunzunegui advises on domestic and cross-border finance transactions and provides tax advice on M&A and group restructurings. A key name in his team is counsel Ishtar Sancho, who has experience in tax advice related to national and international transactions, international tax planning operations and tax issues arising from financing and re-financing deals, capital markets and debt.

Practice head(s):

Adolfo Zunzunegui

Other key lawyers:

Ishtar Sancho


In the tax area, questions may arise that require a quick response and the deadlines are very tight. Ishtar Sancho’s team is able to give us a quick and complete response, even though our company has a tax structure that goes back to several countries.’

‘Ishtar Sancho offers a quality service, predisposition and competence. Adolfo Zunzunegui is a highly trained attorney with great knowledge.’

Work highlights

  • Advised ICG on the tax aspects of the acquisition of Konecta and on the design of the investment and refinancing structure of this group.
  • Acted as leading legal advisor of the five swap counterparties and senior lenders on the tax aspects in connection with the €2bn loan to Marme Inversiones to acquire the Ciudad Financiera of Boadilla del Monte from Banco Santander.
  • Advised Davidson Kempner, Cross Ocean and BAML on the refinancing of Día’s existing syndicated debt financing.

Ashurst LLP

The ‘highly professional, experienced, creative, flexible and available’ team at Ashurst LLP provides a full service in tax, ranging from preventive and transactional tax advice to dispute resolution work; it is noted for its ‘great capacity to adapt solutions and seek alternatives’. The firm has particular expertise in transfer pricing, transactional tax and tax planning matters, across sectors including hotels, gambling, private equity, real estate, financial entities, investments funds, media, sports, energy and insurance. Eduardo Gracia leads the team and advises Spanish and international corporates, funds and financial institutions on the tax planning and structuring of inbound investments relating to project finance, M&A, real estate and distressed asset deals. Also notable is Javier Hernández Galante, who focuses on the tax aspects of cross-border transactions, group restructurings, real estate transactions, indirect tax and tax planning.

Practice head(s):

Eduardo Gracia

Other key lawyers:

Javier Hernandez Galante; Carmen Profitós; Ricardo García-Borregón Tenreiro; Jose Carlos Rodea Juaneda


‘A very strong team technically who provide their advice in an extremely accessible way. They have a very strong commercial understanding and are particularly good at understanding their clients’ objectives.’

‘Eduardo Gracia is one of the finest tax lawyers in Spain. His advice is extremely clear and he is very well aware of developments, so he remains current. As an associate, Ricardo Garcia-Borregon is also extremely able and gives excellent and clear advice, understanding our commercial imperatives.’

In terms of strengths and abilities, the Ashurst tax team has a very high technical level, extensive knowledge of the real estate area, great didactic capacity to convey complex tax issues to the client in an understandable way, the entire team speaks perfect English and human quality and treatment of lawyers is exceptional.’

‘Its technical quality and tax knowledge are exceptional. They attend to any request with great speed. Partners and associates that I consider outstanding: Eduardo Gracia, Javier Hernandez-Galante, Ricardo Garcia Borregon.’

The team is highly professional, highly experienced, creative, flexible, highly available, with a great capacity to adapt solutions and seek alternatives. The team is at the height of any other prestigious law firm.’

‘Javier Hernandez Galante: creative and experienced. Always with several alternatives on the topics under analysis. Very reliable. Jose Carlos Rodea Juaneda, a lawyer on his team, very remarkable in terms of capacity, flexibility, detail and depth.’

They analyze the issues in great depth, maintaining a practical criterion and understanding and explaining well the risks, their possibility and their potential cost.’

‘Eduardo Gracia and Ricardo Garcia-Borregon build trust and are proactive in solving problems.’

Key clients

Iridium (ACS)


Macquarie -GIG Group

Certa Insurance Partners

Waterfall Asset Management

Haya Real Estate

Televisión y Radio de Castilla La Mancha


Goldman Sachs

Bank of America and BofA Securities

Work highlights

  • Advised Iridium on the tax aspects of the sale to the British fund Hermes Infrastructure of 74% of the group’s stake in six shadow toll concessions in Spain.
  • Advising Macquarie Capital on the development of 10 solar photovoltaic projects with total capacity of 1,000 MWp held by 10 different SPVs.
  • Advising and representing Televisión y Radio de Castilla La Mancha on the appeal on VAT reassessments before the tax administrative court and the National High Court and before the European Court of Justice.

Clifford Chance

Clifford Chance is well regarded for being ‘technically very solid, outstanding in finding alternatives when problems get stuck and enormously empathetic’. The firm has particular expertise in tax advice related to REITs, private banking, wealth management, M&A, corporate restructuring and debt capital markets, as well as in tax litigation issues. Known for its strength in cross-border matters, the practice is especially active in Latin America, acting for funds, banks and sovereign funds. Pablo Serrano de Haro advises on a range of tax matters, including the structuring of investments, real estate funds, debt funds and equity funds. Other key names in the area are counsel Roberto Grau, who specialises in the tax aspects of capital markets, banking and finance transactions; and associate Mónica Fernández, who demonstrates ‘knowledge and professionalism’ and has an ‘indescribable capacity for work, making precision the norm’.

Practice head(s):

Pablo Serrano de Haro

Other key lawyers:

Roberto Grau; Fernando Escribano; Julia Villalón; Mónica Fernández; María Leivar


The Clifford Chance team, in addition to excellent technical rigor, stands out for its versatility, knowledge of market operations and the search for imaginative solutions. It is in that sense one of the best law firms that exist.’

‘Pablo Serrano stands out for his tax technique, imaginative solutions and the establishment of bridges for the best agreements.’

CC’s tax team is extraordinarily competent in the field of Corporation Tax (corporate restructuring operations) and in real estate taxation derived from this type of operations, both direct and indirect taxation (VAT and ITP and AJD) and local. I would highlight its ability to anticipate and detect possible tax risks in the design and execution of operations and its proactivity in minimizing them. They are of my absolute confidence. Among the best tax teams in Spain, without a doubt.’

‘Pablo Serrano is always available to answer to any questions at any time. He goes straight to the point. He is also very honest and does not pretend to have an immediate answer if he needs time to investigate. Pablo makes a very technical concept clear to understand for a non-specialist like me. Moreover, it is quite unique to have a lawyer very business-oriented. He has a good vision of what is market practice, what risk you can take or not.’

‘I have worked with the CC tax team on multiple deals and they have never disappointed me. With a proactive approach and an eye for detail, they make sure our position is taken care of from the start of the deal till the end.’

‘Julia Villalon: Always very responsive and clear in her advice/explanation. Also Pablo Serrano is closely involved and very knowledgeable and professional. ’

Good coordination, quick response, more coordinated.’

‘Monica Fernandez and Pablo Serrano: quick and competent answers to questions about tax issues.’

Key clients


Autonomy Global Opportunities S.a.r.l.

Hadley Investments SOCIMI, S.A

Union Investment


Värde Partners


Rialto Capital Management

Orion Capital

LaSalle Investment Capital

Ivanhoé Cambridge Inc.

Real I.S. AG Gesellschaft für Immobilien Assetmanagement

Aliseda, S.A.

Work highlights

  • Advising Banco Santander on a complex process for the re-acquisition of its Madrid headquarters, known as Ciudad Financiera, in the framework of an ongoing liquidation process initiated as to the previous owner due to its insolvency.
  • Advised Cerberus on the tax aspects of the acquisition from Banco Santander of a stake of 80% in a residential portfolio with approximately 35,000 assets.
  • Advised Crédit Agricole, which acquired, through a joint venture vehicle, a majority stake over the custody and depositary business of Banco Santander, including providing advice on the tax aspects.


Advising on national and cross-border taxation, Pérez-Llorca has experience in tax litigation and audits, international taxation, strategic tax planning and wealth management. The firm is also increasingly active in tax related to M&A transactions. Tax legislation expert Clara Jiménez focuses on litigation, audits, tax ruling negotiations and procedural matters. She co-leads the team with Barcelona-based Norma Peña i Bagés, who advises on tax structuring in M&A and real estate transactions, acquisition financing and corporate and financial restructurings. The practice was further strengthened in 2021 with the hire of senior judge Jesús Cudero as of counsel.

Practice head(s):

Clara Jiménez; Norma Peña i Bagés

Other key lawyers:

José Suárez

Key clients



Banco Santander

Técnicas Reunidas

Mutua Madrileña

DIA / LetterOne

CBRE Global Investors

Cerberus European Servicing Advisors

AC Hotels – Marriott


Work highlights

  • Providing advice to Adigital in relation to the Digital Services Tax (DST) that will be implemented in Spain, most likely before the European Union or the OECD take legislative measures.
  • Advising Indra in relation to the restructuring of several branches of activity.
  • Advised Cellnex on the acquisition of 1,500 telecommunication sites from Orange in Spain, as well as on the Master Lease Agreement and Transitional Service Agreement.

CMS Albiñana y Suárez de Lezo

The ‘very complete team’ at CMS Albiñana y Suárez de Lezo has ‘great technical knowledge and empathy with the client’. The practice specialises in transactional and real estate tax, and is also active in insurance, private client and cross-border matters, particularly for French clients. In addition, the firm has been increasingly involved in tax-related disputes. Diego de Miguel leads the team and has broad tax expertise, notably in international tax transactions, restructuring and disputes. Carlos Palma left the firm in 2021.

Practice head(s):

Diego de Miguel

Other key lawyers:

Ricardo Héctor


‘In particular, I would mention Diego de Miguel, a partner in the area with great technical training and, likewise, with a very practical stamp that makes collaboration efficient and productive for the company. I would highlight your creativity when solving matters as well as your full availability.’

In our experience, the performance of the CMS fiscal team is excellent. I would highlight that both Diego de Miguel and his team are very pragmatic, which we especially value. They manage affairs very well. You give them the order and they only “bother you” if it is absolutely necessary. In terms of fees, they are very flexible. I see them very complete and competent. They are decisive and very quick in their responses, which is one of the virtues that I have always valued about them.’

They are a very prepared and efficient team. They respect the given deadlines and have a contracted capacity. One of the best advice I have received in my career.’

‘Ricardo Héctor Lorca. My interlocutor and a great professional in terms of knowledge, responsibility and treatment.’

Key clients


Demium Startups


Grupo AXA

Chubb Insurance Group

Macquarie Corporate Holdings Pty Limited


AIG Group

Siemens Gamesa

Work highlights

  • Advising Eurofighter on VAT and custom duty implications that would arise under a possible hard Brexit scenario regarding the transactions carried out within the Eurofighter project, which involves several jurisdictions.
  • Advising Macquarie Corporate Holdings on the tax implications of its acquisition of an optical fibre cable network located in Madrid, Barcelona, Sevilla, Málaga and Valencia, Spain.
  • Advising Vatservice on its successful claim against the Spanish state in relation to the recovery of undue indirect tax payments.

Gómez-Acebo & Pombo

The well-regarded tax team at Gómez-Acebo & Pombo covers the full spectrum of transactional, advisory, planning and litigation work. The firm has experience advising on tax issues for IBEX 35 and multinational companies, private equity funds and financial institutions, as well as providing wealth management advice to private individuals. Other areas of expertise include transactional M&A, financing and refinancing-related tax advice. Practice head Enrique Ortega focuses on corporate tax and transactional tax issues. Also notable in the team is Barcelona-based Eduardo Martínez-Matosas, who handles the tax structuring of cross-border M&A and reorganisations.

Practice head(s):

Enrique Ortega

Other key lawyers:

Javier Vinuesa; Diego Abril; Ángel Vaillo; Eduardo Martínez-Matosas; Javier Vinuesa; Diego Martín-Abril


‘The quality of its professionals is very high. My relationship with Enrique Ortega and Diego Abril is excellent. I really like how they analyze the issues from a technical and practical point of view. They create an environment of trust with the client that is very positive. From my point of view, the high qualification of its professionals, the fluid communication with clients, and the high degree of trust they generate in them, constitute the essential elements that differentiate Gomez Acebo & Pombo from other firms.’

‘Javier Vinuesa and his team are outstanding. Technically very solid, very intelligent but very close at the same time. We understand him perfectly and he has a lot of common sense and humility.’

‘I think that the Gomez Acebo & Pombo tax practice area has a very high level comparable to that of other highly recognized law firms in the market. Communication with the client is very fluid.’

Gómez-Acebo’s tax team is one of the best in Spain.’

Key clients


Laureate Education, Inc.


Banco Santander





Work highlights

  • Advised Laureate on the tax aspects of the sale of its institutions in Spain and Portugal to Permira.
  • Represented Cellnex, a leading wireless telecoms operator in Spain, on the tax aspects of the acquisition of Altice / Morgan Stanley Infrastructure Partners’ Portuguese telecoms towers network (OMTEL).
  • Retained by Baloo in the acquisition of 50% of Bonpreu, a Spanish supermarket leading group.

Herbert Smith Freehills LLP

Specialising in cross-border matters, Herbert Smith Freehills LLP has expertise in corporate and business-related tax matters, notably domestic and international tax planning. The firm’s transactional and advisory tax work covers the areas of M&A, private equity, joint ventures, corporate restructuring, banking, investment funds and real estate investment. Another key area for the practice is tax litigation. Counsel Marta Esteban provides tax advice to corporates, financial institutions and investment banks, as well as Spanish private equity and international funds. She co-leads the team with Nicolás Martín, who is an expert in corporate, private equity and tax.

Practice head(s):

Marta Esteban; Nicolás Martín

Other key lawyers:

Gonzalo Gil


Knowledge of the issues and availability of the team.’

Key clients

Joint venture of Cain International and FREO group

Ventura Equity Partners

Torreal Sociedad de Capital Riesgo


Alten Energías Renovables

Aventicum Capital Management and Cygnus Capital Partners

Clarion Gramercy (UK)

Magnum Capital

Meridia Capital Partners

Work highlights

  • Advised Ventura Equity Partners on the tax aspects related to the potential acquisition of Productos Alimenticios Gallo (Pastas Gallo), a leading Spanish pasta manufacturer.
  • Representing Telefónica on a number of proceedings against regional tax authorities regarding the refund of undue amounts paid by the client for tax on property transfers.
  • Advised Magnum Capital on the tax aspects related to the potential acquisition of up to 100% of the shares of one of the national leaders specialised in growing, harvesting and commercialising different varieties of vegetables and fruits.

Hogan Lovells International LLP

With 'excellent commitment, proactivity, availability and decisive character’, Hogan Lovells International LLP's tax department advises on structuring asset financing schemes, M&A, international tax planning and tax matters connected with insurance products. The firm is active in a range of industries, including financial institutions, shipping, insurance, private equity, real estate, infrastructure, energy and retail. Tax expert Miguel Ángel Sánchez leads the team and represents banks, shipyards and film producers, among others, in asset finance structuring, as well as assisting private clients in wealth tax planning and in proceedings before the Spanish tax administration and courts.

Practice head(s):

Miguel Ángel Sánchez

Other key lawyers:

Javier Gazulla; Juan Garicano; María Santana; Alejandro Moscoso del Prado


A lot of creativity and commitment, clear language.’

‘Juan Garicano – Excellent professional, close, proactive and efficient.’

Its leader (Miguel Ángel Sánchez), developed a successful professional career before joining the Firm (including his position as General Director of Taxes of the Ministry of Economy and Finance), which gives the Firm’s tax area a great competitive advantage, in addition having created a great team around him.’

‘Focusing on the remarkable figure of the leading Partner of the tax practice (Miguel Ángel Sánchez), I highlight his closeness to the client, great professional preparation and clear ideas easy to put into practice, very high level of contacts in the business world and in the Public Administration and great capacity for teamwork.’

They are an excellent group of professionals. Focused on customer needs, and available at any time to resolve any need or query.’

‘Juan Garicano, who is the tax partner, leads an excellent group of legal professionals such as Alejandro Moscoso and María Santana.’

Very important technical mastery and simplicity when translating taxation to non-expert investors.’

‘Very good response in terms of availability of partners to advise on specific issues. Exceptional technical mastery and clarity of explanation.’

Key clients

Pequeños y Medianos Astilleros Sociedad de Reconversión, S.A. (PYMAR)

ACON Investments

Sura Asset Management, S.A.

Tikehau Capital

IREIT Global

M&G Real Estate

Catella Asset Management

RiverRock European Capital Partners

Banco de Sabadell, S.A.

Bankinter, S.A.

Alantra Partners, S.A.

CNP Partners



Work highlights

  • Advising PYMAR within the proceeding of state aid related to the former tax lease system for vessels, both in the administrative stage before the European Commission and in the court stage before the General Court of the European Union and the European Court of Justice.
  • Advised Banco de Sabadell, as structuring bank, in the design, implementation and follow-up of a lease structure for the financing of a vessel of the shipyard Astilleros Gondán.
  • Advised IREIT Global Holdings and Tikehau Capital on the tax structuring aspects of their acquisition of three non-listed SOCIMIs.

Latham & Watkins LLP

The ‘exceptionalLatham & Watkins LLP is known as ‘technically very solid, creative when looking for solutions and loyal to the client’. The firm provides a ‘very high level of technical knowledge and full availability, incorporating specialists from different areas when necessary.’ Particular strengths are cross-border and transactional matters, including M&A, finance, capital markets, private equity and structured finance tax matters. Real estate tax advice is another specialism for the team, which is led by tax expert Jordi Domínguez. Also notable is recently promoted partner Iván Rabanillo.

Practice head(s):

Jordi Domínguez

Other key lawyers:

Blanca Vazquez de Castro; Iván Rabanillo; Juan Rodríguez


I have worked with Ivan Rabanillo and his team on tax matters related to a crossborder operation and my experience has been frankly positive, both from a technical and proactive point of view.’

‘Jordi Domínguez (partner) and Blanca Vazquez de Castro (senior associate) form an exceptional team. Technical quality, commercial focus and absolute availability.’

‘I would highlight in this practice the technical rigor and degree of involvement of the two partners with whom I have been able to work, specifically, Jordi Dominguez and Ivan Rabanillo, in which they highlight the detailed level of technical analysis as well as the involvement in matters. Managers standing by the client’s side with a degree of commitment well above the average of other firms.’

‘Undoubtedly, the two partners that I would highlight as outstanding in the tax practice are Ivan Rabanillo and Jordi Dominguez, both with a quality and technical finesse much higher than the average of other firms and with an exceptional involvement and sense of belonging to the issues in charge.’

‘LW tax team is a great team, always happy to help and looking for client needs in every moment.’

‘Jordi Dominguez and Blanca Vazquez (Spanish LW Tax team) are a very good team, with deep knowledge of Spanish tax practice, big experience in working with funds and in NPLs + real estate deals.’

Jordi Domínguez and Ivan Rabanillo try, apart from giving a technical and reliable response to the client in their practice, to give a personalized service by putting themselves in the client’s place in each matter. That is worth evaluating, because sometimes not only a technical answer is enough, it is also necessary to know how to channel it and focus it so that one can make the best decision.’

‘Jordi Domínguez and Iván Rabanillo stand out for what has been said, they not only give a reliable technical response, but the treatment and way of channeling the client’s needs are exquisite. Other firms remain in the mere resolution but do not get involved in matters to make them their own.’

Key clients

The Carlyle Group


Cerberus Capital Management


Triton Partners


Deutsche Bank

Apollo Management International

Intriva Capital

Tristan Capital Partners


Bank of America Merrill Lynch




Goldman Sachs

Sun European Partners

Work highlights

  • Advising Enagás on tax matters connected with forming a partnership with Blackstone Infrastructure Partners and GIC to acquire NYSE-listed oil and gas distribution company Tallgrass Energy.
  • Advising the lenders in relation to the refinancing of the existing third-party debt of Spanish olive oil giant Deoleo, a portfolio company of CVC.
  • Advising Apollo on the tax aspects of the creation of a hotel platform and on the subsequent acquisition of several hotels in Spain.

Roca Junyent

The 'great professionals’ at Roca Junyent have ‘knowledge of the tax area, but also of business management’, as well as ‘clarity and agility of response’. The firm specialises in tax litigation, transfer pricing, wealth management, inheritance tax, international tax planning, corporate tax, criminal tax issues and M&A tax. On top of this the practice has sector expertise in healthcare, food and beverage, automotive, leisure, banking, insurance and retail. Raúl Salas is experienced in tax issues related to M&A and real estate transactions. He co-leads the team with highly experienced Barcelona-based partner Jordi Guarch.

Practice head(s):

Raúl Salas; Jordi Guarch

Other key lawyers:

Blanca Usón Vegas


Great professionals, customer knowledge.’

‘A decisive team with knowledge of the tax area, but also of business management. Clarity and agility of response.’

‘The qualities attributed to the team can be extrapolated to Blanca Usón, who is involved in management and planning issues, and knows how to delegate in more operational matters.’

Roca’s team has a specific knowledge of the wind energy and renewable energy industry. In addition, it has extensive knowledge of Latin America.’

‘I have had the opportunity to work with Raúl Salas, who stands out for showing a deep knowledge of Latin America and its specific realities.’

Excellent professionals in Tax in Raul Salas’ Team,’

Key clients

















Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF)

Work highlights

  • Provided tax advice to Palex Medical in relation to the tax aspects of a sale of a majority stake of Palex Medical to the pan-European private equity firm Ergon Capital.
  • Advised Vestas on the definition of the structure to invest in different countries such as in Tunisia, Ecuador, Dubai, Oman, Saudi Arabia and Lebanon.
  • Provided tax advice to Servicios de Transportes de Automóviles y Mercancías in expanding its steel manufacturers subgroup of companies in the UK.

DLA Piper

DLA Piper is known for advising on tax matters arising from M&A and real estate transactions, transfer pricing and litigation. The firm assists multinational companies in tax restructurings and reorganisations, as well as tax investigations and disputes. Practice head Carlos Rodríguez specialises in providing tax advice in M&A transactions, project finance, corporate restructuring and the issuance of international securities.

Practice head(s):

Carlos Rodríguez

Other key lawyers:

Miguel Baz; María Alonso


It is a firm that cares about knowledge of the sector, knowledge of the company and concern for having complete knowledge of the client’s activity, assets, risks, etc. in order to identify opportunities and risks.’

‘Practicality in the proposed solutions. Very close and personal relationship. Absolute availability. Closeness in treatment and familiarity.’

Key clients




Global Premium Brands



Five Guys


Kyowa Kirin

Steward Health Care






VF Corporación

Work highlights

  • Provided advice to Verra Mobility Corporation on the tax aspects of the acquisition of Pagatelia, a European leader in electronic tolling throughout Spain, Portugal, France and Italy.
  • Provided tax advice to AnaCap Financial Partners LLP on its purchase of an NPL portfolio from Afin SGR.
  • Provided tax advice to Inmark regarding the acquisition of Spanish real estate complex.


The ‘expert’ taxation team at DWF-RCD provides 'tailor-made and highly efficient tax advice’. The firm, which was boosted by the 2019 association with DWF, is experienced in national and international matters, including tax planning, expat-related tax matters, private wealth management, corporate taxation and tax disputes. The ‘very proactive and client oriented’ practice is co-led by tax specialists Jorge Sarró, José María Durán and Diego Artacho.

Practice head(s):

Jorge Sarró; José María Durán; Diego Artacho

Other key lawyers:

Fernando Javier Triviño; Manel Pérez; Alejandro Capdevila; Lucas Espada


After carrying out several projects with this firm, I consider that its main characteristic is its ability, without abandoning theoretical knowledge and technical rigor, to create value and provide practical and innovative approaches. In their practice, they compete with the teams of the main firms and contribute creative solutions, not standardized.’

‘Its technical knowledge and ability to create value and creative management. To highlight Javier Triviño, Jorge Sarró, Manel Pérez.’

The mixed profile of technical rigor and collaborative approach is one of the main strengths of this firm compared to others in the sector.’

‘The partners that I would highlight in this practice would be Alejandro Capdevila and Jorge Sarro, both partners of the firm with exceptional technical reliability and inspection management skills.’

The team is very proactive, it is always up to date with the latest tax news and shares them with us, its client. They tend to make very practical approaches and are quick.’

‘Lucas Espada is a lawyer available 24 hours a day, always showing a great predisposition to take on any new project. Great professional and person.’

‘Jorge Sarró and Diego Artacho have experience and a high knowledge of the criteria applied by the acting Administration. FJ Triviño experience in all administrative procedural matters.’

GTA Villamagna Abogados

The ‘fully available, highly motivated and technically impeccable’ tax department at GTA Villamagna Abogados advises on tax issues related to the banking, real estate, insurance, financing and life sciences sectors. The firm’s expertise includes tax litigation and wealth management. Felipe Alonso Fernandez leads the team and specialises in tax litigation, private banking, corporate tax law and indirect taxation.

Practice head(s):

Felipe Alonso Fernandez

Other key lawyers:

Carlos Marcelo


‘Carlos Marcelo has earned our utmost confidence for his technical capacity, availability, leadership and maximum involvement with our internal team as clients. He provides the maximum value both for its technical-legal advice and for its good judgment and strategic criteria.’

The GTA Villamagna team is extraordinarily Customer-oriented, with a very high technical level and quick dialogue; providing highly imaginative and high quality legal solutions to problems.’

GTA Villamagna approaches particularly complex issues in a pragmatic way with direct and personal involvement of its partners. They always propose innovative and creative solutions, always ensuring the interest of their clients to anticipate problems by avoiding them.’

‘Personal and direct involvement of partners at reasonable prices. The partners have a practical orientation that is difficult to find in the market.’


Andersen is ‘very attentive to detail and very accessible’, advising on a range of transactional, advisory and litigation tax matters. The firm is experienced in transfer pricing, M&A, private equity, joint ventures, domestic and international tax planning, corporate restructuring, banking and real estate investment, as well as verification, management and inspection procedures carried out by the tax administration. María Olleros specialises in international tax and cross-border matters. She co-leads the team with Barcelona-based Toni Prat, who focuses on tax advice, commercial and corporate law and private equity.

Practice head(s):

María Olleros; Toni Prat

Other key lawyers:

Antonio Ballester; Celia Gallach; Tomás Rivero Villamarín


Highly professional office, very attentive to details and very accessible.’

‘Its high preparation of affairs and technical ability. We normally work with Antonio Ballester and Celia Gallach.’

‘In the field, perfect knowledge of theory and practice. Knowledge even of the people in the Administration with whom to deal. Highlighting the ability to communicate information.’

Availability and speed in solving day-to-day issues. The argumentation and documentation of its conclusions. Supervision of the work of his team In particular Tomás Rivero Villamarín is the one who shines in these 3 characteristics.’

Key clients

Servicios Funerarios Montero, S.A.

Net de Gerrers

Altabana Group

Sotogrande, S.A.

Grupo Azvi

Promotora de Cigarros


J. García Carrión

Work highlights

  • Advising Servicios Funerarios Montero on the process of acquisition of Servicios Funerarios Montero by Mémora Servicios Funerarios
  • Advising Net de Gerrers on the  tax aspects of the acquisition of 100% of the Andorran company Tunel de Envalira.
  • Advising Grupo Alimentario Citrus on tax and transfer pricing matters.

Araoz & Rueda

Active in national and international advisory and transactional tax matters, Araoz & Rueda also has experience in tax planning, inspections, disputes and negotiations. Practice head Javier Prieto advises on tax issues related to M&A transactions, financing structures and real estate transactions, as well as providing expertise in tax litigation, corporate income tax and tax planning.

Practice head(s):

Javier Prieto

Key clients











Work highlights

  • Provided tax advice to Bankinter on the merger of several SICAVs.
  • Advised Bruni Glass in connection with a restructuring with some Spanish shareholders in a partially acquired entity in Spain.
  • Provided advice to Banca March on tax matters connected with projects related to energy savings based on energy efficiency.


Advising on real estate, corporate, finance and international taxation, Cases&Lacambra provides ‘personalised treatment’ on a range of issues, from tax audits to assisting private clients and family businesses on structures, financial investment instruments and private equity investment. Ernesto Lacambra leads the team and focuses on the international tax planning of cross-border investments. The firm appointed Alberto Gil as partner in its Andorra office in July 2021.

Practice head(s):

Ernesto Lacambra

Other key lawyers:

David Navarro; Cristina Villanova


Personalized. International Experience (especially Europe and Americas) Fast and creative service. Proactive solutions that allow you to plan and anticipate. Strong mainly in Fiscal and Mercantile.’

‘Personalized treatment, very professional and in constant search for solutions and long-term planning. Partner Ernesto Lacambra.’

‘Top notch client service and partner level engagement. Flexibility and willingness to provide support above and beyond pure written scope of work. Reasonable billing.’

‘David Navarro is a subject matter expert, but given the arcane and complex nature of Spanish tax law, is not afraid to defer a question pending further research, reverting in a timely manner once he has done the necessary research. David is also a master of distilling complex and difficult to understand tax concepts into brief notes which a non-lawyer and non-tax expert can understand. This is particularly impressive as he is also translating from Spanish and Catalan to English at the same time.’

Key clients

Ernesto Ventós, S.A.

Arcano Wealth Advisors EAFI, S.L.U.

Cordia Iberia Holding, S.L.

Mucho Diseño, S.L.

Carglass, S.L.

Urbania International Investments, S.L.

Fiscalter Inversiones 2013, S.L.U.

Lear European Holdings, S.L.

DeA Capital Alternative Funds, SGR S.p.A.

Zetland Capital Partners, LLP

Work highlights

  • Provides comprehensive tax advice to Ernesto Ventós in several jurisdictions worldwide.
  • Advising Carglass on the tax aspects of the second phase of a restructuring transaction.
  • Advising Fiscalter Inversiones 2013 on a tax due diligence resulting from the full acquisition of the ownership of the company shares by one of the shareholders and a subsequent change on the management of the project.

CCS Abogados

Providing ‘comprehensive advice in different areas, with extensive knowledge and experience adapted to the business and needs of the company’, CCS Abogados’ multi-disciplinary practice covers a broad spectrum of tax work. The firm advises on corporate tax, M&A, tax litigation, transfer pricing, indirect taxation and tax criminal proceedings, with particular strengths in the IT, automotive, shipping, media, construction and energy sectors. Practice head Miguel Caamaño Anido focuses on tax planning and tax litigation.

Practice head(s):

Miguel Caamaño Anido

Other key lawyers:

Francisco Caamaño; Patricia Faraldo; Sonia Pallas Grela


‘They provide comprehensive advice in different areas, with extensive knowledge and experience, adapted to the business and needs of the company.’

‘Miguel Caamaño Anido has extensive experience and knowledge in tax practice.’

‘The fact that the relationship is fluid is a very important aspect for us, without continually being hindered. Knowledge of the issues raised, their ability to deal with them and their professionalism.’

‘Miguel Caamaño Anido has a great knowledge of the issues that we raise and great didactic capacity to expose us to the legal solution to them.’

‘The performance is excellent. They always respond promptly, in most cases through small reports or informative notes in which they answer our query.’

‘Sonia Pallas masters matters related to the services we demand. The performance is excellent.’

‘The closeness, flexibility, legal solvency and technical knowledge of all matters. Regarding the team, we value their professionalism, accessibility and great legal knowledge.’

‘Miguel Caamaño Anido has expertise in all the proposals, negotiations and resolution of the legal problems raised. We value his technical reliability, communication skills and approach to legal matters.’


Dentons advises insurance companies on warranty and indemnity (W&I) and special tax policies and transactions, and also provides tax advice to SOCIMIs. The firm is also increasingly active in tax litigation matters and in providing tax advice to high-net-worth individuals. María Cortizas leads the team and specialises in the tax structuring of M&A deals, capital markets transactions, structured finance and debt restructuring.

Practice head(s):

María Cortizas


In our opinion, the strength of the Dentons tax area lies in its involvement in the projects. It is one of the very few firms that really “gets wet” in the final tax structure of the operation, giving concrete solutions instead of a series of options. This greatly speeds up decision-making. In addition, it is appreciated working with lawyers who have a solid financial background, since they understand our language and our needs.’

‘We chose to work with Dentons because of its partner María Cortizas. In our opinion, there are 3 qualities that make it stand out from the rest of its competitors: 1. We highly value that it is able to define the final real tax rates that we should influence in our models, and that they support us with your legal opinions. 2. María provides us with solutions  “out of the box” that protect our interests, giving us security for the operation. 3. We have always received the best attention from you. They have received us with the best availability and the work has been impeccable.’

Key clients

Barings Real Estate Advisors, LLP

Nuveen Real Estate Management Limited

Kelly Delly Company

Be Spoke

Spearvest, S.A.

Work highlights

  • Acted as legal and tax advisors to Barings’ operations in Spain; recently, this included advising on the merger of five real estate companies.
  • Provided legal and tax advice to Starwood on the acquisition of a portfolio of office buildings in Spain from US firm Oaktree Capital Management and German real estate management company Freo.
  • Advising Kelly Delly Company, a European leader in sushi kiosks, on the acquisition of a group of Spanish restaurants specialised in Asian food (Tuk-Tuk).

Bufete Escura

Bufete Escura fields an experienced team of lawyers, economists and accountants with expertise in tax management, planning, transfer pricing and proceedings before the Spanish tax authorities. The firm advises international companies from Italy, France, Belgium, Germany, the Netherlands and the US, particularly from the industrial, automotive and food sectors. The practice is jointly led by Elena Escura Esteban, Fernando Escura Serés and Robert González Gandía.

Practice head(s):

Elena Escura Esteban; Fernando Escura Serés; Robert González Gandía

Key clients











Work highlights

  • Advised ASCENSORES ENINTER on the tax aspects of several acquisitions in Spain, Italy and Portugal.
  • Advised Marelli, one of the world’s leading global independent suppliers to the automotive sector, in the merger between the Spanish companies of the group and the corporate reorganisation.
  • Advised SUPERFICIES DE ALIMENTACIÓN, on tax aspects involved in various investment and disinvestment transactions of real estate assets.

Freshfields Bruckhaus Deringer

Garrido Abogados

The ‘very efficient and agile’ tax team at Garrido Abogados has ‘great capabilities in all issues’, particularly corporate, asset, wealth and inheritance tax. Tax litigation, criminal law matters and tax inspections also feature. The team is co-led by former tax inspector Miguel Angel Garrido; Francisco Conde, who specialises in representing clients before the tax authorities and in the tax planning of corporate groups; and economist Enrique Benavente, who focuses on the tax aspects of corporate finance, M&A, joint ventures, corporate restructuring and strategic tax planning.

Practice head(s):

Miguel Angel Garrido; Francisco Conde; Enrique Benavente


‘The team of professionals at Garrido Abogados has been demonstrating for years a professionalism and dedication to its client totally worthy of praise. The ease of treatment and closeness, great ability to listen and work as a team is noteworthy, sharing the doubts that arise as a client from day to day.’

‘Its strong point is the proximity and knowledge of the issues raised. Close relationship with clients and its proactivity, give it a competitive advantage over other firms.’

‘The staff is stable, which gives you a historical knowledge of the company. They know and study our needs, both at an individual level and at a corporate level, in the tax area.’

‘Francisco Conde and his team have known us for many years and know our concerns and needs. They are involved both in the definition of the strategy and in the execution.’

‘I especially value the agility in the answers and recommendations of a legal, commercial and fiscal nature, knowing how to balance very adequately when an instant telephone advice is necessary and when a very solid and thoughtful report is required. And of course the total bilingualism of its professionals, which again makes the answer much easier within my multinational group.’

‘In this time of difficulty due to the pandemic, they have been able to demonstrate that their advice and support has not suffered one iota from the real impossibility of physical contact. In practice, I have not noticed at all as a customer whether the service was being provided from their usual office or from any other location.’

‘The partner we usually work with is Francisco Conde, with whom I and my team have a very close relationship and I find in him a really remarkable understanding and capacity to help. But in addition, this professional has managed to surround himself with a highly qualified team that already with great seniority responds in most cases with the definitive solution, and also knows which issues need additional consideration.’

‘Garrido as a team have excellent knowledge of Spanish tax law and above all very good relationships with the administration. They can understand changes in legislation very fast and adapt to those changes.’

Key clients




Work highlights

  • Retained by Techco Seguridad and its sole partner, German investment company Cobe Capital, to defend the correct fulfilment of the company’s tax obligations with regards to the sale of the company to the security group Securitas.
  • Retained by the partners of Inversiones Malbed, a holding company of Grupo Medina, to design and execute the acquisition of a stake in Silicius SOCIMI.
  • Advised GRUPO BAIA on its administrative appeal relating to responsibility exaction after criminal procedures.

King & Wood Mallesons

Business oriented and very responsive’, King & Wood Mallesons advises on tax fund structures, M&A deals, tax litigation and private client and wealth management matters. The firm has particular expertise in tax matters arising from the sports sector. ‘Outstanding’ practice head Alberto Ruano specialises in domestic, international and financial tax law.

Practice head(s):

Alberto Ruano

Other key lawyers:

Pablo Tejerizo


‘Attention to service quality, delivery time report.’

‘Specialization, attention, availability.’

‘The knowledge, unique in the market, of the business combined with an experience of many years working in the sector. Alberto Ruano is outstanding.’

‘Business oriented. They understand the industry. Very responsive.’

‘The group is run by the superb Alberto Ruano. They are experts not just in private equity tax but so much more. High calibre across the group, responsive commercial and a pleasure to deal with.’

‘Alberto Ruano is the star. Fantastic tax lawyer, commercial and technically excellent. He can solve your tax problem in a way that helps your business with its commercial objectives.’

Key clients

EDP Group


Portobello Capital


Valencia Club de Fútbol

Magnum Industrial Partners


Moira Capital Partners

MCH Private Equity

Asterion Industrial Partners

Work highlights

  • Provided legal advice to Portuguese energy company Galp on the tax structuring of the cross-border acquisition of the solar photovoltaic business of listed company ACS in Spain.
  • Provided advice to EDP on the tax structuring of the transaction agreed with Macquarie that included the acquisition of Viesgo Distribution (75.1%), Viesgo Renewables (100%) and Viesgo Coal (100%) and the transfer of 24.9% of EDP’s distribution business.
  • Advised Valencia Club de Fútbol on day-to-day tax issues that arise during the ordinary and extraordinary course of the clubs’ business.

Ramón y Cajal Abogados

Ramón y Cajal Abogados' practice handles a range of tax work, including contentious-administrative appeals, M&A transactions, creating tax-efficient real estate investment vehicles and individual asset acquisitions; among its clients are large companies, private companies, private individuals and the Spanish subsidiaries of international businesses. Practice head Luis Rodriguez-Ramos specialises in tax related to M&A, venture capital operations, corporate restructurings, financing structures, financial products, the issuing of securities and real estate investments.

Practice head(s):

Luis Rodríguez-Ramos

Other key lawyers:

Alberto Heras; Gonzalo Rocafort; Alejandro Fernández


We value the closeness and accessibility of partners.’

‘The partner with whom we work (Alberto Heras) has a high technical knowledge in tax matters, which gives us a lot of confidence and security.’

Ramón y Cajal’s team has a clear vision of the key aspects that make the difference in a tax inspection. It is clear that the AEAT inspectors have had a lot of contact with our interlocutors from Ramón y Cajal and show enormous respect and consideration for their assessments.’

‘Undoubtedly I must highlight the capabilities of Alejandro Fernández Zugazabeitia, who has helped us on invaluable occasions, with an exemplary way of working. He is brilliant!’

The Tax team is very powerful. Whenever we have needed their services or recommendations they have been successful and have managed to exceed the objective. Great professionals, very executive and practical.’

‘Alberto Heras is an excellent lawyer. He has always managed to improve initial expectations. I would recommend him without hesitation. His recommendations and services have always been of great help and he undoubtedly knows the sector and the interlocutor very well. He is involved in each case as if it were his own company.’

Key clients


Banco Santander

Persepólis Investments Socimi

Inmobiliaria Colonial

Cadena Cope

El Corte Inglés

Laboratorios Leti SLU


Grupo Vivo

Linea Directa

Work highlights

  • Provided advice to Bankinter on the structuring of a deal in which a vehicle incorporated by several investors acquired a company owning a rented building in Canary Islands.
  • Advised Grupo Vivo on the tax aspects of the group’s restructuring.
  • Advised Cadena Cope, one of the leading Spanish radio stations, in defining and implementing its transfer pricing policies.

Simmons & Simmons

The ‘technically very strong’ tax department at Simmons & Simmons is ‘exceptionally responsive and displays an excellent practical mindset when approaching complicated tax matters’. Experienced in transactional, advisory and contentious tax advice, the firm has a particular focus on the financial services, asset management, life sciences and TMT sectors. Practice head Juan Sosa Pons-Sorolla handles corporate and personal tax, with expertise in international tax planning, M&A and property taxation, as well as cross-border distressed debt and real estate transactions.

Practice head(s):

Juan Sosa Pons-Sorolla

Other key lawyers:

Juan Manuel Cocho


‘Tax team deeply specialized in private equity deals / M&A transactions. Technical capabilities above the average. Big involvement, closeness and flexibility when working with clients.’

‘We worked with Juan Sosa Pons-Sorolla and Juan Manuel Cocho and both proved superb technical and personal skills. They were a highly motivated team, always available and flexible. If I had to choose one specific quality, I would stress their customer-oriented mindset and their technical knowledge.’

‘The Team is technically very strong and displays impressive experience of the various tax issues affecting the asset management industry. The Team is also exceptionally responsive and displays an excellent practical mindset when approaching complicated tax matters.’

‘I would highlight that in terms of value for money, I regard Juan and his team as market leaders.’

‘The team always goes above and beyond International outlook and well integrated with S&S offices outside of Spain, so very easy to coordinate multi-jurisdictional tax advice.’

‘Juan Sosa Pons-Sorolla: Deep technical of both Spanish and international tax issues; Perfect English which makes understanding Spanish tax advice as a non-Spanish speaker very easy; High commercial awareness.’

Key clients

Banca March

Work highlights

  • Advising Banca March as arranger in relation to the update of CIE AUTOMOTIVE’s ECP (Euro Commercial Paper) programme.

Toda & Nel-lo

The multi-disciplinary team at Toda & Nel-lo provides 'professionalism, personalised attention and technical knowledge', particularly in the areas of international, business and contentious tax. The firm is also experienced in advising on family businesses and wealth management issues. The team is co-led by former head inspector of the regional government of Catalonia Ignacio Goytisolo and Lorena Puig de Travy, who advises on wealth management.

Practice head(s):

Ignacio Goytisolo; Lorena Puig de Travy

Other key lawyers:

Albert Mestres; Francisco Chamorro; Javier Blanco


‘Professionalism, personalized attention, technical knowledge.’

‘Ignacio Goytisolo and Francisco Chamorro are attorneys characterized by being always available and always giving an agile and easy-to-understand answer.’

‘The most valuable thing for me is that they are always able to advise me and explain the law to me with a vocabulary that is easy for someone who is not a legal specialist to understand.’

‘The sending of newsletters and programming of online courses with updated and interesting content makes them stand out from other firms. I always know that any update will be made known to me as quickly as possible in digital format.’

‘Each one of them is specialized in their area and it is very safe to entrust them with our business decisions. Especially Francisco Chamorro, Albert Mestres and Javier Blanco.’

Key clients

Conren Tramway

Equatorial Coca-Cola Bottling Company


Ariston Thermo


Yves Rocher


Reby Rides

Barcelona Global

Work highlights

  • Provided comprehensive tax advice on the planning of new investments to the group of companies managed from Conren Tramway and to their stakeholders, both national and abroad.
  • Providing ECCBC with labour tax advice in relation to an employment tax matter.
  • Providing Barcelona Global tax and operating advice on setting up new structures to attract talent and new investments to Spain from 2020 onwards.

Watson Farley & Williams LLP

Providing ‘really valuable know-how’, Watson Farley & Williams LLP is known for ‘expertise in tax matters regarding international financing and real estate transactions’. The firm specialises in domestic and international tax matters in the renewable energy, real estate and transportation industries, with particular strength in tax related to M&A transactions, asset finance in the maritime and aviation sectors and project finance. The ‘outstandingLuis Soto leads the practice and advises on strategic transactions and tax dispute resolution.

Practice head(s):

Luis Soto


‘Expertise both in tax matters regarding international financing and Real Estate transactions. They are beyond the theory, providing the clients with really valuable know-how.’

‘I can confirm that Luis Soto is an outstanding lawyer, always focused in providing their clients the best services including in those cases where a tight deadline is given.’

Key clients

Copenhagen Infrastructure Partners (CIP)

NOY Infrastructure & Energy Investment Fund

Sonnedix España Management

REEF Development


Grupo T-Solar

Edmond de Rothschild

CBRE Global Investments

Q Energy

Atlantica Sustainable Infrastructure

Work highlights

  • Advised CIP on the tax issues related to the acquisition and project financing of a 360MW portfolio of renewable wind assets under development.
  • Advised Sonnedix on the tax aspects of the acquisition of two Spanish PV portfolios, comprising 21 operating PV plants with a 26.9MW aggregate capacity.
  • Advising several Greenlandic shipowners on issues related to the implementation of the tax lease structures entered into with different Spanish yards for the financing of the construction of fishing vessels.