Ferrere fields a standalone tax practice of ‘excellent quality‘, which handles the gamut of tax issues arising from corporate matters, as well as taking on pure tax mandates, both contentious and advisory. A host of multinational and domestic companies look to the practice for assistance with sophisticated tax structures and high-profile, sensitive tax litigation. The wider firm network across Latin America is also a draw for companies with operations across the region seeking coordinated cross-border tax advice. Gianni Gutiérrez spearheads the department and is a reference in tax law, with expertise ranging from the structuring of tax aspects of M&A and financial products to personal wealth planning. Isabel Laventure is highlighted as a ‘brilliant and practical attorney‘, also dedicated to tax law, acting in contentious and non-contentious matters, drawing on strong international experience. Senior associate María Laura Caffera supports across all matters and is particularly noted for her expertise in foreign trade taxation, while counsel Isabel Hounie has broad experience in tax advisory work and the tax aspects of M&A.
Tax in Uruguay
Ferrere
Practice head(s):
Gianni Gutiérrez
Testimonials
‘Practicality. Speed of response. Excellent quality.’
‘Isabel Laventure is a brilliant and practical attorney.’
‘Responsiveness. certainly quality responses, timely delivered.’
‘The high involvement of the partners. Gianni Gutierrez and Isabel Laventura, superlative service.’
‘From my point of view, Ferrere is the best firm in our country precisely because of the professionals that make it up.’
‘There are very good offices in Uruguay, but over time I have been concentrating the contracting of legal and accounting services in Ferrere. There are many differences, including the speed of response, the seriousness with which they face any proposal, and especially the very personal and human treatment. I’d highlight Isabel Laventure.’
‘It is a solid team in knowledge, multifaceted, interdisciplinary, complete and attentive to the client. In a pandemic, attention did not diminish and continued efficiently, adopting technological measures suitable for continuous practice.’
‘Dedicated staff who are attuned to the client, with punctual knowledge useful to the client, specific to their needs.’
Key clients
Uber
Hyatt
DirecTV
JPMorgan Chase
JetSmart
Archer Daniels Midland
Hidrovias do Brasil
IBM
Pluspetrol
Milicic
Colgate Palmolive
Syngenta
UBS
Nestlé
Sabre
Work highlights
- Advised IBM on the global spin-off of its Managed Infrastructure Services (MIS) into a new publicly traded company called Kyndryl.
- Acted for IDB Invest in granting financing for $45m to local retailer Ta-Ta.
- Assisted Eastern Airlines and Jetsmart with the start-up of their operations in Uruguay.
Guyer & Regules
Guyer & Regules supports its corporate clients across the full range of tax matters, covering tax planning for local regimes as well as offshore activities and free trade zones, audits and tax litigation. Its clients include a host of banks and financial institutions, and the team has also been consulted by the Ministry of Economy and Finance. In his capacity as practice head, Juan Manuel Albacete is the go-to contact for many of these clients; his practice covers both litigation and consultancy, and he has experience in a range of matters, from tax restructuring and tax planning for the oil and gas sector to support on large M&A and finance deals. At the associate level, Marcelo Marchetti comes with considerable client praise for his ‘exceptional knowledge of tax law and administrative law‘, and Gastón Lapaz gives specialist support in tax disputes.
Practice head(s):
Juan Manuel Albacete
Testimonials
‘Professionals with extensive knowledge of the topics. Great concern for client service’.
‘Juan Manuel Albacete – outstanding professional and human skills.’
‘Excellent knowledge of the business, providing relevant information that allows anticipating risks or opportunities.’
‘Very outstanding professionals, for example: Juan Manuel Albacete.’
‘Working with Marcelo Marchetti is an absolute luxury. In addition to his exceptional knowledge of Tax Law, and Administrative Law in general, his business vision, empathy with the client, in-depth knowledge of the business, and ability to give the appropriate and correct advice in each case are noteworthy.’
Key clients
Citibank
Itaú Bank
Goldman Sachs
Barclays Capital
BNP Paribas Securities
JP Morgan Securities
BBVA
Julius Baer
Heritage
Montes del Plata (Arauco – StoraEnso)
Petrobras
Mercado Libre
Total
Emirates
Corporación América
Louis Dreyfus Company
Bunge Agritrade
Cargill
Unilever
Philip Morris (Abal Hnos)
VRG Linhas Aéreas (Gol)
Tyco
Corporación Vial
Asociación de Bancos
Cabify
Work highlights
- Assisted BofA Securities, HSBC Securities (USA) and Santander Investment Securities on the issuance of Uruguayan peso-denominated bonds due 2031 by the Republic of Uruguay.
- Advised AIG on the issuance of a buyer side R&W insurance policy related to the indirect acquisition by Batovi of Forestal Oro Verde from RII World Timberfunds and RII World Timberfund.
- Assisted Magna Motors with the acquisition of Automotores Motor Haus, the Uruguayan distributor of BMW.
Bergstein Abogados
Complex tax implications in the context of corporate endeavours are well handled by Bergstein Abogados‘ senior tax law team, which acts for a number of international companies operating in Uruguay, many of which have longstanding relationships with the firm. To this end, practice head Domingo Pereira‘s wealth of experience in international taxation is a differentiator, while his broad practice covers assistance to both local and foreign clients on general tax advice, tax planning, wealth management matters and defences against the tax authority. Jonás Bergstein ties together the firm’s corporate and tax offerings, and senior associate Guzmán Ramírez provides robust support to the practice head, particularly in disputes.
Practice head(s):
Domingo Pereira
Key clients
Deugro
Visanet Uruguay
Velcro USA
Nordex SE
Cisco Systems
NovaAgri
Adium Pharma
Sony Music Entertainment (SME)
Lexmark
Accenture
Work highlights
- Advised Voith on the tax aspects of the supply of equipment to the state-owned electricity company for the rehabilitation of a dam.
- Assisted Betterfly with the operation of a digital platform providing products and services associated with physical and psychological health and wellness.
- Advised SME on the VAT treatment of licenses related to rights to sell its repertoire.
Posadas
International taxation and individual tax planning are the standout specialisms of the tax practice at Posadas, services it renders to a number of regional and multinational clients operating in a variety of sectors. Practice co-head Raúl Vairo manages the firm’s office in Zonamérica, the location being a strategic draw for foreign clients; the firm was the first to open a location there. Vairo has extensive experience advising both foreign and domestic companies with new ventures in the free trade zones. Fellow practice head Eduardo Ferrari has considerable strength in matters at the intersection of real estate and tax law. Former senior associate Guillermo Sena departed for independent practice in September 2021.
Practice head(s):
Raúl Vairo; Eduardo Ferrari
Key clients
BTG Pactual
Lumin
Pedidos Ya
Areaflin Wind Farm Project – Administración Nacional De Usinas Y Trasmisiones Eléctricas (UTE)
Trafigura
Iplace
Axionlog (McDonalds)
Ford Motor Company
Folium Capital
Work highlights
- Advising Gas Sayago on the tax aspects related to the sale of various assets located in a customs enclave.
- Assisting UTE in all its day-to-day tax issues.
- Advising BTG Pactual on the tax analysis of the different jurisdictions in which to incorporate investments funds.
Brum Costa Abogados
Brum Costa Abogados stands out for its tax law support to clients in the financial services sector. The team has both contentious and non-contentious capabilities, and is led by experienced senior partner Leonardo Costa, and María Paula Garat, whose varied expertise takes in tax, constitutional and public law.
Deloitte Legal
Though still in the early stages of its activity in Uruguay, Deloitte S.C. has continued to assert itself in the tax law market, with practitioners coming recommended by clients for their ‘local and international tax knowledge‘. The practice strikes a balance between established knowledge of the local tax law landscape – practice head Juan Bonet having extensive professional experience in the market for both tax and financial matters – and being able to draw on the wider Deloitte network when assisting on matters with cross-border intricacies. The practice handles tax compliance, controversies and tax-driven restructurings, along with tax audits, analysis and advice on inspections. Key support comes from senior associate Guillermo Lorbeer .
Practice head(s):
Juan Bonet
Testimonials
‘High local and international tax knowledge.’
‘Great client orientation – Juan Bonet, Javier Dominguez and the rest of the team.’
‘They excel in the development of the situation and proposals for solutions and advice with real knowledge of the situations.’
‘Training in complex tax issues, in-depth knowledge of legislation, international trends and a network of contacts (even outside Deloitte) stand out.’
‘We recommend Juan Bonet.’
Key clients
InterEnergy Holdings
Pluspetrol
OW Bunker (Amirtol)
Herbalife
Complejo Luis Suarez
Canarias
Prodhin
Kielder
Work highlights
- Advised Complejo Luis Suarez on the implementation of certain tax benefits.
- Advised InterEnergy and 15 Uruguayan companies with a binding opinion to the tax authority regarding its acquisition of three wind farms in Uruguay.
- Advised Canarias on the presentation of two lawsuits to the Supreme Court regarding allegedly unconstitutional local taxes.
Hughes & Hughes
Hughes & Hughes‘ tax team has ‘great knowledge of the market‘ and advises on complex tax planning scenarios, the application of double tax treaties, tax audits, and tax litigation. A well-established base of clients operating in sectors ranging from hotels to pharmaceuticals enjoy the multidisciplinary service from the firm. Experienced corporate law partner Haroldo Espalter oversees the practice with two associates: tax and transfer pricing expert Alejandro Horjales, and Miguel Rocca, who is well versed in assisting domestic and international clients.
Practice head(s):
Haroldo Espalter; Alejandro Horjales; Miguel Rocca
Testimonials
‘It is a team always ready to serve us. They have a great knowledge of the market and of new technical and legislative discussions.’
‘Always up-to-date on market issues.’
Key clients
Adidas Uruguay
Pestana Group
Forestal Oriental (UPM Group)
Tronem
Trafigura
Lojas Renner
Ineco
Victorica Consignaciones
Sealed Air Uruguay
Work highlights
- Advising Tronem on the tax aspects of its installation in Uruguay.
- Advising Surinor on all tax aspects of the opening of its operations in Uruguay.
- Assisting Afry Group-af Poyry with the tax aspects of its establishment in the country under the general tax regime and the free zone regime.
Olivera Abogados
The tax team at Olivera Abogados is regularly called upon by a variety of domestic companies and individuals for advice on tax restructuring, tax aspects of M&A, and tax litigation, among other areas. Andrés Hessdörfer, an up-and-coming figure in the market, has broad experience in consultancy and in administrative and jurisdictional disputes between tax authorities and taxpayers. He co-leads the practice with founding partner Ricardo Olivera García , who helps coordinate advice across related practice areas. Junior associate Sabrina Delgado supports on the gamut of matters. Since publication, Hessdörfer has departed to establish his own firm - effective as of October 2023.
Practice head(s):
Ricardo Olivera Garcia
Testimonials
‘I highlight the disposition and collaboration of the entire team.’
‘I think that the good disposition of the people stands out, they always answer right away.’
‘Technical knowledge and speed of response.’
‘Andrés Hessdörfer – responsible, professional, technical capacity and response.’
‘Juan Mailhos – professionalism, dedication and response.’
Key clients
Punta Carretas Shopping Center
Bolsa Electrónica de Valores
Gastón Bengochea Sociedad de Bolsa
Formula E Operations
Sportlink
Union Agriculture Group
Edding Group
Asociación Cultural y Técnica
Work highlights
- Advising Bevsa on the release of a new business line of exchange-rate forwards within the financial market.
- Advising a businesswoman on a tax litigation case against the tax administration.
- Assisting a company owner with a dispute regarding the obligation to pay a tax debt.
Andersen Tax & Legal Uruguay
Leveraging the international reach of the wider firm, Andersen Tax & Legal Uruguay supports its clients in multi-jurisdictional tax matters. The team is best known for its work in transactional tax and tax planning, and also handles contentious matters. Juan Ignacio Troccoli is the primary contact.
Blanco & Etcheverry
Tax assistance at Blanco & Etcheverry is focused on strategic corporate policy design to maximise the tax benefits for clients. The practice also has tax litigation capabilities, and in addition, it advises on the application of treaties to avoid double taxation, and the day-to-day management of taxes. Agustín Etcheverry leads the team.