Next Generation Partners

Firms To Watch: Tax

Established in April 2023, micro-boutique Hessdörfer Tax & Corporate is led by Andrés Hessdörfer, formerly tax practice co-head at Olivera Abogados; the firm handles tax assessment, compliance, inspections and disputes, along with company law and business structuring.

Tax in Uruguay


Offering ‘simple and creative solutions’ to clients’ problems, the team at Ferrere is ‘dedicated, client-focused and knowledgeable about all aspects’ of tax law, namely sophisticated tax structures and tax litigation. The practice has developed niche expertise in tax matters concerning the energy and natural resources sectors, including the financing and development of wind farms, hydrocarbon exploration and forestry. The practice’s lawyers collaborate with their counterparts at the Bolivia and Paraguay offices as part of the firm’s regional tax group. Practice head Gianni Gutiérrez specialises in the structuring of tax aspects of M&A and financial products, personal wealth planning, and tax optimisation work for major investment projects. Isabel Laventure carries out both tax consultancy and litigation work and leads the firm’s private client practice. At senior associate level, María Laura Caffera is noted for her support on foreign trade taxation matters, and Antonella Caraballo assists with tax litigation.

Practice head(s):

Gianni Gutiérrez


‘We hardly have to explain a problem because they understand it right away and immediately give us the best solutions, which are often simple and very creative.’

‘The professionals have an excellent level of skill and knowledge; they are trained, dedicated, expert and client-focused.’

‘Gianni Gutiérrez is knowledgeable and knows how to put the client’s mind at ease.’

‘Isabel Laventure is an exceptional professional, an expert in her area, generous in sharing her experience.’

‘Gianni Gutierrez is a versatile professional. Outstanding for large corporation tax, complex tax matters and HNWIs as well.’

‘Accurate and timely responses to each professional matter we entrusted to the firm.’

‘We are very satisfied with this team to the point that we do not think of looking for other offices.’

Key clients




JPMorgan Chase


Archer Daniels Midland

Hidrovias do Brasil



Colgate Palmolive





British Gas

Deme Group

Essential Energy

Warnermedia Direct Latam


Institut Pasteur

Joint Distribution Committee

Scotiabank Uruguay





Work highlights

  • Assisted multinational dredging company Deme with obtaining a private ruling request from the tax authority.
  • Advised Linzor Capital on the acquisition of a controlling stake in tech company InConcert.
  • Represented Uber in litigation and assisted it with its dealings with the Uruguayan tax authority.

Guyer & Regules

The tax team at Guyer & Regules is seen by clients as a ‘market reference’, and a group of ‘excellent professionals whose expertise covers all areas’. The practice offers comprehensive tax planning for local regimes as well as offshore activities and free trade zones, audits and tax litigation, and has advised the Uruguayan Ministry of Economy and Finance in addition to its base of multinational clients. Juan Manuel Albacete heads up the practice, and ‘is highly respected and recognized in the professional and business environment’; he is experienced in tax-related litigation, consultancy and restructuring, and also provides tax planning guidance to the hydrocarbons sector. At associate level, Marcelo Marchetti assists with tax litigation and advisory matters and is regarded as ‘pragmatic' and 'versatile’, ‘with a sharp understanding of business’. Gastón Lapaz‘s experience lies in judicial and administrative tax litigation.

Practice head(s):

Juan Manuel Albacete


‘The team displays a high degree of professionalism with great knowledge and expertise in tax matters.’

‘Expert knowledge of tax matters, communication skills and contacts in the judicial sphere. Juan Manuel Albacete leads with great capacity and is highly respected and recognised in the professional and business environment.’

‘Very good service, technical expertise, fast and consistent.’

‘Marcelo Marchetti is pragmatic, versatile, and with a sharp understanding of business that allows him to handle sophisticated matters. He also maintains a high commitment and dedication to his clients.’

‘We highly highlight the work of Marcelo Marchetti for his technical rigour and for his ability to detect, analyze and resolve tax problems quickly.’

‘Highly practical, with in-depth knowledge and experience in the field’

‘Excellent professionals, leaders in the market’

‘Working with Marcelo Marchetti is a joy. As well as his exceptional knowledge of tax, his business sense and empathy for the client are outstanding.’

Key clients


Itaú Bank

Goldman Sachs

Barclays Capital

BNP Paribas Securities

JP Morgan Securities


Julius Baer


Montes del Plata (Arauco – StoraEnso)


Mercado Libre



Corporación América

Louis Dreyfus Company

Bunge Agritrade



Philip Morris (Abal Hermanos)

VRG Linhas Aéreas (Gol)


Corporación Vial


Asociación de Bancos


Ocean Network


Work highlights

  • Advised Stora Enzo and Arauco on a dispute with the tax authority.
  • Assisted Montes del Plata with a dispute with the tax authority.
  • Advised the National Association of Private Banks on future tax obligations regarding passive income from foreign sources.

Bergstein Abogados

The practice at Bergstein Abogados is skilled at handling a broad spectrum of taxation matters, including corporate taxation, wealth management and tax litigation. Its client base is well-balanced, serving both large multinationals and small businesses on one side, and families and private individuals on the other. Key clients include JP Morgan, McCormick Uruguay and Aggreko Group; in recent years, it has also gained experience in advising e-commerce platforms. Practice head Domingo Pereira has substantial experience in tax planning, wealth management and defences against the tax authority. Jonas Bergstein specialises in corporate matters, M&A, and international tax planning and distribution systems. Senior associate Guzmán Ramírez supports the partners on litigation.

Practice head(s):

Domingo Pereira

Key clients

NTT Data

JP Morgan






McCormick Uruguay


Work highlights

  • Advised NTT Data on the tax implications of its future software operations in Uruguay.
  • Assisted JP Morgan with tax aspects of a legal due diligence questionnaire on financial products offered by the client.
  • Advised IT solutions company Atlas Group on the tax implications of transferring its software to a Uruguayan entity.


The focus of the practice at Posadas is centred on the provision of domestic and international tax advisory services and litigation. It regularly assists corporations from the food and drink, finance and automotive sectors, and has substantial experience advising families and private individuals. Practice co-head Raúl Vairo advises local and international clients on new ventures in the free trade zone and the rest of Uruguay; he leads the group alongside accountant Daniel Gonzalez. Partner Matías Rachetti advises high net worth individuals and families on tax and corporate matters. Previous practice co-head Eduardo Ferrari departed in June 2023.

Practice head(s):

Raúl Vairo

Key clients

Patria Investments LATAM

AB InBev

Administración Nacional De Usinas Y Trasmisiones Eléctricas (UTE)


DO Investment

La Buonora Desarrollos

Greenwood Resources




Roemmers/Mega Pharma

Bonprole Industrias Lácteas

Gomez Zorrilla Desarrollos

Tyson Foods

Ford Uruguay

Work highlights

  • Advised Patria Investments on the tax implications of its merger with Moneda Asset Management.
  • Assisted AB InBev’s Uruguayan subsidiaries with day-to-day tax counsel.
  • Advised La Buonora Desarrollos on the tax implications of a real estate project in Ciudad de la Costa, Canelones department.

Brum Costa Abogados

The team at Brum Costa Abogados specialises in tax consultancy and litigation, primarily supporting clients in the financial sector, including the Montevideo Stock Exchange, banks and financial advisors. In addition, clients include corporations from the tech and alcoholic beverages sectors, and public bodies including the Instituto Nacional de Carnes. Seasoned senior partner Leonardo Costa heads up the practice and leads on key finance-related tax matters.

Practice head(s):

Leonardo Costa

Key clients

Bolsa de Valores de Montevideo (BVM)

Nobilis Corredor de Bolsa

Cámara de Zonas Francas


Alcoholes del Uruguay (Alur)


HSBC Uruguay




Work highlights

  • Advised the Montevideo Stock Exchange on compliance with CRS regulations.
  • Assisted Gol TV with tax matters relating to its establishment in Peru and Ecuador.
  • Advised football club Club Torque on its obligations under Uruguayan tax law.

Deloitte Legal

The tax practice at Deloitte S.C. is making a name for itself in the Uruguayan market, offering ‘very high quality’ counsel on matters including audits, tax compliance, tax business restructuring and day-to-day tax guidance. Clients from the banking, energy, retail and consumer services sectors seek out the team for its ‘very good knowledge of local and international tax law’. Practice head Juan Bonet is experienced in both tax and financial law and is praised for being ‘willing and client-focused’. Senior associate Guillermo Lorbeer provides key support.

Practice head(s):

Juan Bonet


‘It is a very high quality team.’

‘Very good technical knowledge and very good knowledge of the tax administration and its operating logic.’

‘Our project would have been impossible to achieve had it not been for the legal and tax expertise of Deloitte.’

Key clients

InterEnergy Holdings




República Negocios Fiduciarios



Enrique Quinteros

Kielder Agro

Work highlights

  • Assisted Alicorp with day-to-day tax support and counsel on tax planning.
  • Advised InterEnergy and five other companies on the tax implications of the $15m acquisition of three wind farms in Uruguay.
  • Acted for yerba mate producer Canarias in two lawsuits claiming the refund of taxes paid that were declared unconstitutional by the Supreme Court.

Dentons Jiménez de Aréchaga

Dentons Jiménez de Aréchaga‘s tax practice is led by accountant and of counsel Julio López, whose specialities include international and domestic tax planning, double taxation matters, and advising on the tax implications of M&A. He is supported by the ‘highly meticulous and analytical' senior associate Martin Montoro, who focuses on the tax structuring of investments, tax litigation and tax matters relating to international projects. Additional skills of the group include tax due diligence and business structuring, for which it is frequently instructed by financial, construction and energy-sector clients.

Practice head(s):

Julio López


‘Very solid technical support; depth of analysis.’

‘Martin Montoro is highly meticulous and analytical. He is very efficient in meeting his objectives and has a strong understanding of the business of his clients.’

‘Martin Montoro demonstrates diligence in his tax work, offering different paths for tax optimization at the lowest cost.’

‘They are very friendly lawyers that provide quick and solid responses.’

‘Martin Montoro was excellent, responding in a timely manner, demonstrating experience and knowledge, as well as adequate follow-up.’

‘Martin Montoro is always willing and available to help.’

‘Julio López is an experienced professional with great tax knowledge and a commendable attitude.’

‘It is a very professional team that provides clear and specific responses. The lawyers are very well-equipped to advise commercial sector-clients. In particular, Martin Montoro’s advice on tax matters is fantastic.’

Key clients

Banco Santander



Importers and Wholesalers Association

Arcos Dorados


Zapag Group



Quantik Group


Work highlights

  • Assisted Mondelez with a customs post-clearance audit conducted by the National Customs Directorate regarding customs compliance on food importation and a risk assessment on potential tax determinations.
  • Advised Banco Santander on tax issues arising from a business structure for the acquisition of Phoenix, and a later restructuring of its holding company in Uruguay.
  • Assisted Lesaffre with a tax impact assessment relating to its acquisition of Levapan’s operations in Argentina, Brazil, Paraguay and Uruguay.

Hughes & Hughes

Hughes & Hughes offers counsel on to tax planning, audits and litigation to ‘a wide range of clients’, namely corporations in the finance, retail, logistics, construction and tech sectors. The team has an ‘up-to-date understanding of the market’ and ‘strong professional and project management skills’, and is co-led by Haroldo Espalter, experienced in corporate law and advising on foreign investment in Uruguay. Two public accountants, Alejandro Horjales and Miguel Rocca, lead alongside him.

Practice head(s):

Haroldo Espalter; Alejandro Horjales; Miguel Rocca


‘Hughes & Hughes clearly excels with its team-building approach.’

‘The team always puts client solutions first, and is willing to invest time upfront to try to understand clients needs before starting to bill them.’

‘Héctor Ferreira displays strong interpersonal skills and high engagement with clients; his goal is to find a win-win deal for all parties involved.’

Key clients

Surinor (Pestana Group)

Afry Group – Poyry


INECO España


Balsa & Asociados – Danilum



Fresenius Medical Care

Lojas Renner

Work highlights

  • Advised AFRY on the tax implications of its entry into the Uruguayan market.
  • Advised Surinor on the tax implications of its entry into the Uruguayan market.
  • Advised Saint Gobain on the tax components of its acquisition of Premezclados Uruguay.

Blanco & Etcheverry

Blanco & Etcheverry‘s tax counsel is focused on optimising corporate policies and day-to-day tax management. The group also has tax litigation capabilities and advises on the application of treaties to avoid double taxation. Managing partner Agustín Etcheverry is the contact to note.

Work highlights

Olivera Abogados

The tax team at Olivera Abogados assists domestic companies and individuals with tax restructuring, tax aspects of M&A, and tax litigation, among other areas. Founding partner Ricardo Olivera García leads the group, and Sabrina Delgado is the key name to note at junior associate level. Partner and former practice co-head Andrés Hessdörfer departed to establish his own firm in March 2023.

Work highlights