Colombia

Ernst & Young Ltda

Calle 113 N° 7-80

Torre AR, Piso 3

Bogotá DC

Colombia

Tel: +57 1 484 7110

Fax: +57 1 484 7474

Email: margarita.salas@co.ey.com

Website: www.ey.com

Margarita Salas Sánchez joined EY Colombia in September 2008 as executive director of tax services. Today, she is a partner and leader of the tax controversy and litigation department.

Margarita has 23 years of professional experience. She has worked in the public and private sectors as a consultant on various topics related to national taxes, serving national and international clients across several industries.

She has been in charge of tax assistance in various projects and has experience in tax planning and in tax controversy, always seeking fair and timely decisions for the clients she has worked for, providing them with appropriate and proactive support.

She has led EY's tax controversy and litigation team in Colombia for almost five years. The team provides assistance on litigation strategy. Through working for the local tax authorities, team members have gained experience in the analysis and definition of a strategy intended to obtain a favourable decision following the interests of taxpayers.

As the former regional director for taxes in Bogotá for the Colombian National Tax and Customs Administration (DIAN), she worked facing tax controversy issues and tax litigation processes. Before joining EY she was the major taxpayers director in Bogotá, and head of the Major Taxpayers Collections Division for the DIAN, from 1991 to 1997.

Margarita has a law degree from Universidad Libre, a specialist degree in tax from Colegio Mayor de Nuestra Señora del Rosario, and completed postgraduate studies on tax techniques and institutions in the Escuela de Hacienda Pública of Spain. She has been a university professor in very prestigious institutions of Colombia and a speaker at various seminars and events. She is a member of the Colombian Institute of Tax Law (ICDT) and of the International Fiscal Association (IFA). Additionally, she has been co-director of the Observatorio de Jurisprudencia Tributaria of the ICDT, author of specialist articles for its main publication and research leader of the EY team for this project.

Carrera 7 No 74 – 09

Bogotá AA 075874

Colombia

Tel: +57 1 546 1810 ext 2023

Fax: +57 1 212 4677

Email: psarmiento@deloitte.com

Website: www.deloitte.com

Pedro Enrique Sarmiento Pérez has more than 35 years of experience in tax management and as a business consultant of the private sector.

Pedro worked for 20 years in different positions at Colombia's National Tax and Customs Direction, including tax administrator, deputy director of collections, general secretary, deputy director of tax and customs audits, and head of the Planning Office.

He was responsible for designing tax policies, procedures and audit plans, and legal conceptualisations. He is also a member of the panel of international experts of the International Monetary Fund, where he has contributed with work in Washington, Guatemala and Bolivia.

After 10 years spent as partner-in-charge of Deloitte Colombia's indirect tax area, international trade and transfer pricing, Pedro was appointed director of the tax and legal practice in Colombia. He is responsible for all of the tax and legal service lines as well as the offices in Bogota, Cali, Medellin, Barranquilla and their 120 professionals.

Pedro's extensive experience includes: tax; customs; transfer pricing; ICA Indirect tax (local commerce tax), consumer tax; stamp tax and utilities litigation; advisory on TIC regulation laws (technology, IT and communications); advisory on foreign trade, customs and ports; tax consulting, planning and structuring of business from the tax and transfer pricing perspective; tax outsourcing on income tax, indirect taxes, industry and commerce tax; and advisory on VAT, ICT and excise tax.

He is involved in the direction and supervision of tax, transfer pricing and customs projects, as well as in the special consulting service in public and private enterprises in industries including energy and mining, manufacturing, transportation, utilities, services, construction, and healthcare.

Pedro holds a Juris Doctor and MBA from the University of Los Andes as well as an expert in fiscalisation, from FDI (Berlin, Germany). He was a participant in international forums of the CIAT (Guatemala 1997) and a member of the negotiating commission of the Rules of Origin FTAA (Washington, 1996).

In addition, Pedro was a lecturer in international tax forums, Montego Bay, 1992 and has been professor of the tax law master's degree of Externado de Colombia University, and of the customs specialisation at the same university, as well as at Sergio Arboleda University, Catholic University of Colombia, and the Industrial University of Santander.

He has participated in several technical courses and conferences he has been invited to by national trade associations and NGOs. In addition, in 2009, Pedro was published in Régimen Aduanero Colombiano – Legis 3rd Edition.