Uruguay

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.”

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.