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Andersen Uruguay is a full-service legal and tax firm with its practice divided into four core units: Legal Practice, Tax & Accounting, Real Estate Conveyance and Corporate Immigration. Juan Ignacio Troccoli, Maria Cecilia Ricciardi, and Ana Cecilia Rego lead the tax & accounting department of the firm. Andersen in Uruguay has offices in Montevideo and in Punta del Este.
During the research cycle, Andersen provided dLocal with accounting, tax compliance, truces, payroll, transfer pricing, and global services coordination. From Uruguay, partner Cecilia Ricciardi along with her team lead the client and coordinated the incorporation of new Andersen firms to the global engagement. Other case details are to remain confidential.
Senior Nicolás Rebollo departed to Deloitte. However, the team welcomed four new seniors: Mauricio Rocumpaj from Guyer & Regules, Santiago Ferreira from Posadas, Posadas & Vecino, Christian Lambrecht from Tata Consultancy Services, and Agustina Batista from Innovation - Tax & Trust.
Client feedback
“Permanent contact with the client. Personalised service. High leveled professionals.”
The tax team at Bragard Abogados offers a wide range of services from day-to-day tax advice to complex tax due diligence and fiscal strategy. Moreover, Agustina Bomio head of the department, has a deep understanding of the international tax sector.
During the research period, the team assisted the sale of El Observador, one of the most important Newspaper of Uruguay. The tax team participated in the tax due diligence of the company. This deal represents an important move in the Uruguayan media market. Additionally, Bragard is advising Max Capital in the administrative defence of the company against the Tax Office regarding the CRS formal filling and reporting.
The team welcomed two new associates: Cecilia Bernatzky from Seguros Sura and Guillermo Lorbeer previously from Deloitte.
Client feedback
“Professionalism, flexibility, fit for purpose, reliability, speed up to solve problems, great overview the business and market, add value in all deals with third parties.”
“THey have extensive knowledge, both on the law and on how to deal with the authorities, they made a clear and concise plan and executed it to perfection.”
“Substantial experience in local capital markets, financial regulations and doing business in Uruguay. They are creative in finding the adequate structure to a proposed investment. At the same time they adequately assess the risks and compliance implications on each structure.”
“Great knowledge of the market. Professional advice. Honesty.”
Deloitte in Uruguay provides services on tax planning, tax assessments, regional and international tax consulting as well as transfer pricing. Key contacts at the firm are Enrique Ermoglio and Gonzalo Lucas.
During the research period, Deloitte Uruguay assisted various multinational companies, in the software and technology sector, to evaluate corporate and personal tax implications of international work. The work done follows an increasing trend of multinational work conducted.
Client feedback
“Competent, responsive, compliant, solid technically. They provide good services of good quality.”
FBM Advisory is a boutique firm with a strong focus on tax advice and international planning. The founding partner Fabián Birnbaum has extensive experience in local and international advice to national and international clients. The firm also specialises on tax aspects, inheritance, and patrimonial protection related to family offices.
Details of the firm’s work and clients remains confidential.
Client feedback
“They are really responsive and interested in knowing the client. They are always willing to assist and provide solutions. They show deep understanding on their field.”
“Business oriented, direct to the point, knowledge of the tax environment.”
“Very responsive, a lot of experience and always focused on client needs.”
“Fabian Birnbaum is an expert in this field who provides key insights and thorough advice that covers all angles. He is a very creative accountant in Uruguay who is excellent at handling sophisticated operations.”
Gianni Gutiérrez leads Ferrere’s tax department, along with partner Isabel Laventure. The tax team at Ferrere is comprised of eight lawyers and more than 40 accountants. The group has gained a reputation for providing a wide range of tax expertise, but it excels in tax litigation. Moreover, the tax team is strong in advising on all the tax aspects in connection to cross-border M&A transactions. Although the tax team is active in different sectors, it has developed expertise in tax matters in the energy and natural resources sectors.
During the research period the team advised Uber on the structuring of its onshore – offshore operations, dealings with the Uruguayan Tax Authority and accommodation to tax framework applicable to Partner Drivers. In addition, the firm successfully represented Uber in litigation decrees issued by the Executive Branch regarding taxation of the platform operations and is claiming taxes paid plus damages and interest.
Client feedback
“Their multidiciplinary team had a great knowledge and capability in providing solutions, they are readily available and with a good attitude. There are no complex o difficult tasks for them to focus on.”
“They are a multidisciplinary company, well informed, updated and reliable. The focus on client and providing an accurate answer.”
“Resposive, detailled. Highly professionals.”
Juan Manuel Albacete leads the tax department at Guyer & Regules. The practice covers tax litigation, tax consultancy and tax planning for the oil and gas sector with an emphasis on M&A transactions and finance deals. The team is comprised of six partners and 48 associates, including lawyers and CPAs. The tax group offers services on tax assistance and planning as well as the litigation process. Clients include local and international companies engaged in different sectors. Guyer & Regules’s global reach is guaranteed by being a member of many leading international networks, such as the world’s leading association of independent law firms LexMundi.
During the research period the team advised the National Association of Private Banks in response to the Uruguayan Government drafting a bill of law. This implementation caused changes to the legal tax system to comply with the guidelines indicated by the Code of Conduct Group of the European Union.
Client feedback
“They are a firm that knows the tax regulations in depth but also the market, and above all the partners and senior managers they are very close to the client.”
“Complete advice, professional, timely.”
“They have a very good expertise in this area. They provide answers on a timely manner and with an evident expertise on the field that helps us navigate tax matters better. They know how to approach tax authorities and they are also always available to clarify our doubts.”
“Professional advice - timely – adequate.”
“They are always responding ina timely manner and with very accurat eknowledge in the field. Their proffesionals know not only the legal aspects but also how to present cases to tax authorities and bring solutions to the table which are in tune with our business needs.”
“Strong professionals. Specialists. Deliver results.”
The tax department at Hughes & Hughes is comprised of qualified lawyers and accountants with extensive experience and knowledge on national and international tax issues. Services include tax consultancy and advisory, advice on how to obtain tax benefits under the Act for the Promotion and Protection of Investments and similar laws, advice on transfer prices, tax audit and review procedures, and representation on tax-related litigation.
Details of the firm’s work and clients remains confidential.
Client feedback
“The depth and quality of the analysis and the speed of response.”
“Main value drivers H&H brings into a relationship are a strong focus on tailored-made solutions, high team engagement, and timely delivery of its recommendations to clients, among others. In addition, another positive attribute is that they always stay until final implementation, and thus, participate in a risk-sharing approach toward clients that contributes to higher customer satisfaction.”
“They are very attentive and follow up the work very well. Efficient and fast.”
“Strong knowledge of local regulations.”
“People are very fast and efficient.”
“Very expeditious, comprehensive in their services and excellent advice.”
“Good knowledge, impecable advise, very responsive to the clients’ needs.”
“Excelent profesionals, Passion working, very good Values, reliables, allways bringing solutions.”
Innovation Legal, Tax & Trust is an international tax and private wealth consulting firm, funded in 2009. Its client-oriented strategy over the years has led the company to strategically locate its offices in Madrid, Miami, and Montevideo. The main services include international tax planning, private wealth services, offshore trusts and corporate vehicles, immigration, corporate services, and legal technology services.
During the research period, the firm advised a Uruguay-based fintech startup company (confidential). The team designed a new corporate and operational structure that was tax efficient.
Valentina Ginel left in August of 2022. However, the team welcomed Joaquin Fraschini, previously from Fraschini & Asociados.
Client feedback
“They are highly imaginative and are used to working with UHNWs.”
KPMG Uruguay has been operating in the local market for more than 75 years. The firm provides tax services in all taxation and transfer pricing areas to local and international companies.
The European Union introduced changes in the taxation of foreign source income obtained by multinationals. The team acted as advisor to several multinational companies which might be affected by the new rules. Furthermore, with the introduction of OECD based transfer pricing rules in Paraguay, KPMG Uruguay started providing technical assistance and advice to Benitez Codas & Asociados (correspondent firm in Paraguay of KPMG) for the provision of TP services to its clients.
TPC group is a firm specialized in Transfer Pricing Consulting. They advise multinational companies, providing tax planning service and reviewing Transfer Pricing Reports.
The scope of solutions provided by TPC GROUP during the 2022 period extends to various sectors of the economy, mainly: Real Estate and Construction, Production and Manufacturing, Distribution and e-commerce, Services, Tourism, Retail, domestic and international organizations. Details of the firm’s work and clients remains confidential.
The firm witnessed the departure of various team members to study including Renato Seminario, Jose Daniel Martinez, and Marco Mozombite. Magaly Casasola left for personal reasons. However, TPC Group welcomed two new transfer pricing analysts, Antuane Zanabria Calle and Fiama Guerra Jimenez.
Vuille Lafourcade operates out of two offices in Montevideo and Paysandú, with a staff of 35 practitioners including accountants, lawyers, and notary. The firm specializes in general corporate tax, tax litigation and tax advisory to multinational companies. The firm also has a strong presence in a variety of sectors, including finance, forest, meat processing, IT, plants, and oil.
One of Vuille Lafourcade’s clients is Specialty Lab (Clinical Market Chile Group), for whom they provided tax advisory and restructuring services in a complex, multi jurisdiction case. The firm separately also worked on multiple tax exemption cases for a variety of firms with a large presence in Uruguay.
Innovation Legal | Tax | Tech is an international legal, tax and private wealth consulting firm, funded in 2009. Its client-oriented strategy over these 15 years has led the company to strategically locate its offices in Madrid, Miami and Montevideo. Together with its professionals and allies spread throughout the world, the firm has a global presence, while guaranteeing excellence in the provision of services, offering its clients tailored designed solutions and high standards of quality and confidentiality.
Main Areas of Practice
Innovation Legal | Tax | Tech offers a wide variety of services in charge of senior professionals, who will guide its clients in their business growth and development, management and internationalization. Among Innovation Legal | Tax | Tech specialization and focus, clients will have access to:
- International Tax Planning: tailor-made and tax efficient solutions for all types of international transactions, advisory on participation exemptions, inheritance structures products, corporate tax, and transfer pricing within others
- Private Wealth Services: extensive experience in structuring, advising and estate planning, assuring its clients full asset protection and confidentiality
- Corporate Services: company set up, maintenance, bank account openings, accounting and tax compliance services, M&A and several other services to comprehensively address this delicate task and comply with each jurisdictions’ requirements and terms
- Establishment of Trusts and Foundations: design and implementation of tailor-made vehicles to help its clients protect their assets and help them in their succession planning, while also providing fiduciary services when required
CRS and FATCA advisory - Immigration: advisory on tax residency, to families and individuals. Innovation Legal | Tax | Tech provides assistance and guidance to clients interested in moving abroad, to achieve legal and tax residence in jurisdictions with a beneficial tax burden through direct investment
- Legal Tech Services: Innovation Legal | Tax | Tech provides legal services for Tech, FinTech, LabTech and AgriTech startups, offering innovative solutions and support during daily operations and business growth. We provide flexible and tailor-made special purpose vehicles (SPVs) for entrepreneurs and investors, tax advice on royalties, interests or dividends distributions, internationalization of business and permanent establishments that adapt to constant development of tech companies and their regulations. Moreover, we design, select and implement structures to attract investors or hold intangibles assets
International Work
Innovation Legal | Tax | Tech has both local and international clients, with cross-border operations. Some of Innovation Legal | Tax | Tech top clients and current services rendered are:
- Southgenetics (LabTech): Tax and Corporate restructuring in Latin America, with M&A and permanent legal advice.
- Prometeo (FinTech): Tax and Corporate restructuring and permanent international tax advice.
- Data 4 Sales (Data Analytics) : Tax and Corporate restructuring, assistance in the capital raising process and permanent international tax advice.
- Steriale (LabTech) : Tax and Corporate restructuring in the US, Europe and Latin America for operational and patent affairs.
- Order Eat (Software Solutions) : Tax and Corporate restructuring, assistance in the capital raising process and permanent international tax advice.
- Line Up Surf (Weather Technology Services): Tax and Corporate restructuring, assistance in the capital raising process and permanent international tax advice.
