Colombia

A prominent firm in the Colombia market, Baker McKenzie’s tax services span a range of areas, including tax planning, M&A, wealth management, tax litigation, and compliance. The group is led by tax and transfer pricing partners Ciro Meza and Gustavo Sánchez. Although the firm works across many industries, it specializes in oil and gas matters.

The Baker McKenzie team in Colombia is currently acting for telecommunications clients Novator Partners LLP and Partners Telecom Colombia SAS. The two clients have recently entered the telecommunications market in Colombia under their brand WOM. As a new player in the telecommunication sector, Baker has been busy advising on matters of Transfer Pricing, foreign exchange, financial structuring, and day to day tax matters. 

In 2022 the firm has been active in recruitment bringing on new partner Juan David Velasco. Juan joins the Baker team from Posse Herrera Ruiz.

Client feedback

“Baker & McKenzie Colombia knows our facts very well, is super-responsive, and provides well-thought advice.”

“They have extensive expertise on the matter and are very proactive in address and resolve our challenges.”

The tax team at Brigard Urruitia has a high level of expertise in the areas of international and national tax planning, and tax litigation. The group is led by a team of three partners: Lucas Moreno, Andrés Hernández, and Catalina Jaramillo. The firm serves both domestic and foreign investors, with the intention of adding to Colombia’s development.

The tax team at Brigard Urruitia has been active in the Transactional Tax market over the research period. The team is currently assisting ODATA as its being acquired by data center service provider Aligned Data Centers. The transaction contains aspects of the Double Tax Treaty between Colombia and Spain which the firm had to consider as they advised on the best possible tax structuring for the sale. The firm is also currently involved in the tax structuring for Anahata Corp, regarding a sale of one of their hygiene companies to Swiss company Essity Hygiene and Health. Brigard Urruitia performed tax planning, document review, compliance services, optimization of cash flows, and mitigation of tax leakage services for the client.

In January of 2022 the firm welcomed a new partner, Adrián Rodríguez to the team. Adrián joins the team from Lewin & Wills.

Headed by Carlos Andrés Cañón, the tax practice at CAÑÓN ASOCIADOS provides high quality legal advice and solutions for both local and foreign clients. The team is comprised of both lawyers and accountants specializing in tax matters. The firm is also known for its expertise in the Energy sector as well as their wealth and estate planning for their private client practice. They also have a high level of expertise in international tax, M&A, tax litigation, and tax risk analysis. 

Over the research period, the firm has been active in the energy sector of Colombia, advising client Trina Solar with their Colombian solar projects. The firm advised on the best in vestment strategy, as well as examining the double taxation properties of the project to discover the optimum strategy for the clean energy project.

Client feedback

“Responsible, On time, Good advice, Good customer relations.”

Deloitte Colombia was founded in 1959, and is a firm focused on providing solutions in legal advice in tax, financial advice, consulting, auditing and risk advisory. Together with its interconnected offices in Peru, Ecuador, and Venezuela the Deloitte LATAM team consists of 1100 practitioners. The firm has a presence in Barranquilla, Cali, Medellin and Bogota, with expertise in corporate transaction, compliance, foreign exchange, and commercial operations. 

In the past year, the firm has been actively assisting Baxter regional payroll services in a number of cross-border matters. With over 2500 employees and 5 different business entities, the firm navigated through challenging special policies and high turnover rates to provide optimized payroll services for the client. The Deloitte team has also been active in transfer pricing, assisting several clients with Transfer pricing needs throughout Colombia.

Dentons Cardenas & Cardenas is a Transfer Pricing driven group which supports the preparation, filing, and compliance of formal obligations for clients across Latin America and the Caribbean region. The team has experience working across many industries including textile manufacturing, IT services, and mining.

In the past year, the Dentons team has been active in the transactional tax space. The firm served as counsel to Banco de Desarrollo de America Latina with a loan transaction to Bancoldex for $250 million. The complex transactions consisted of a closed detail negotiation, and the navigation of a number of regulatory challenges. The firm was also active in Transfer pricing matters, assisting Metropolitan Touring Colombia S.A.S. in a matter to determine the Arm’s length payment regarding a future cruise ship project. The firms work allowed for the company to have a better forecast on its next ten years for the cruise ship project.

Client feedback

“Excellent knowledge of Tax Legislation.”

Founded in 1996, DLA Piper Martinez has been recognized for its handling of complex tax advisory and litigation matters. It specializes in tax law, tax structuring, estate planning, tax litigation, and tax incentives from foreign investment and international trade. 

Recently DLA Piper’s tax team assisted Macquarie Group on the structuring of an investment platform and acquisition of transportation projects. The transportation projects consists of new roads, as well as airport concessions in Ecuador, Spain and Colombia. Being one of the largest infrastructure projects in the country, the team had to create the most efficient investment vehicle for the client. The firm is also involved in Transfer Pricing litigation for Trafigura Group. The firm is currently advising Trafigura on 7 tax litigations involving IMPALA, and TRAFIGURA PETROLEUM. These matters require expertise knowledge in the local oil and gas industry, trading operations and transfer pricing regulations.

In 2022 the firm has been very active in recruitment bringing on new partner Laura Galeano, and new Director Juan Carlos Vinasco. Laura joins the team from Garrigues and Juan joins from Baker McKenzie. The firm also brought on three new associates, Ricardo Perez Arango, Daniel Diaz Rivera, and Daniela Velasquez Aponte.

Client feedback

“They are a nuw firm here in Colombia, but are doing a great job.” 

EY’s Colombian tax group is comprised of three hundred and seventy members across four offices. The team assists foreign clients investing in Colombia, particularly in the areas of large acquisitions and reorganizations. The firm has focused efforts on Tax Technology solutions, taking a leading role in developing electronic invoices and electronic payroll. 

Recently the firm advised on a foreign investment deal involving a mining company with operations in Colombia. The deal was complex in nature due to its cross border elements as well and sophisticated tax implementation for the deal. EY also advised on a corporate demerger as well as the resulting restructuration for the newly independent operations.

EY has been active in recruitment over the past year and has brought on three new partners to their tax group. The team welcomes María de la Luz Arbeláez, Jose Romero, and Ruth Yamile Salcedo. Maria joins the firm from Arbelaez & Asociados Abogados, Jose joins from International Monetary Fund, and Ruth joins from Pardo Carrero & Salcedo Younes Asesores Jurídicos.

Client feedback

“Proactive and dynamic in attention.” 

The Bogotá office of Garrigues is the second office opened by the Spanish practice in the Latin America region. The Colombian firm’s strengths are its transactional and controversy tax practices. Additionally, the group has a record of participating in high-profile tax reform projects and government policy discussions.  

In 2022, the Garrigues team advised FCC Aqualia on the $10,000,000 acquisition of Saur Colombia. The firm defined the acquisition structure ensuring the deal was compliant with Colombian tax law. The firm is also currently involved in the creation of a financial institution with its client Nubank. Nubank is a Brazilian neobank and one of the largest fintech banks in LATAM. 

The firm has been active in recruitment, and in 2023 they welcomed new partner, Monica Bolaños. Monica joins the Garrigues team from Deloitte.

GHAN was founded in 2014 as a tax boutique. The team specializes in tax law, corporate tax, international taxation, transfer pricing, and structuring. The practice has a record of supporting tax structuring needs in private and public investment projects. Oscar Iván González Herrera leads the group as managing partner. 

The firm is currently assisting with the transfer of asset structuring for Empresa de Acueducto y Alcantarillado regarding a waste water treatment facility in Bogota. The firm executes sophisticated structuring, as the matter deals with several corporate structures and must comply with local and national obligations.

Client feedback

“They provide great customer service, propose interesting defense strategies and resolve doubts very accurately.”

“Oscar Gonzales has deep experience in cross-border deals, which allows him to provide efficient solutions to complex issues involving parties in several jurisdictions.”

“They are thorough, detail driven, pragmatic, straight to the point firm, always aiming to protect the best interest of their clients on a time and billable efficient manner.” 

GodoyHoyos_Goh, founded in 2004, provides legal services to clients in the areas of tax planning, tax structuring of local and international transactions, tax compliance, transfer pricing studies, and representation before the tax administration. The team is particularly active in the industries of energy, infrastructure, financial markets, and insurance. Catalina Hoyos Jiménez heads the tax department.

Over the research period, the firm has been active in tax and transactions throughout Latin America. The firm currently advises Interconexión Eléctrica in all tax matters associated with their energy expansion Project. The multinational company seeks to expand its business throughout LATAM and the Americas. In the past year, GodoyHoyos also launched their legal tech startup Yustii, a service that seeks to optimize legal and tax services with technology. The firm handles all tax matters and compliance involved with the startup.

The firm has been active in recruitment, bringing on two new associates. Camilo Gamboa joins the team from EY, and Martha Castro joins from KPMG.

Client feedback

“Their technical and professional aptitudes.”

“Purposeful, dynamic with fairly priced fees and direct attention from Members.”

“Very knowledgeable, capable of providing simple solutions to complex issues.”

“Layout / Strategy”

“Effort to win cases, knowledge, kindness, good reputation and high quality work.”

The tax practice of Jiménez Higuita Rodríguez & Asociados specializes in tax, customs, and exchange law. The firm is a member of the Andersen Global, extending it network across 170 countries. The firm has been recognized for its expertise across several industries including, health care, education, financial markets, food and drink producers, software, and infostructure. 

During the last research period, the firm has been active a number of tax matter across the region. The firm advises longstanding client GHL group through its partnership with with one of the largest private equity investors Advent International. The firm also is currently representing Bolsa de Valores de Colombia as they create a new holding compay. The firm was involved in the descion making for the shareholders and all tax matters associated.

KPMG Colombia has a team of one hundred and seventy-six professionals who provide specialized tax and legal services in the areas of compliance, advisory, International Tax, M&A, transfer pricing, litigation, customs, and BPO services. The team supports clients across many sectors of the economy which include insurance, technology, and tourism. It advises on projects in the public sector as well.

In the last research period, the firm has been actively assisting on tax matters for various projects throughout the region. The firm advised on an internal reorganization of Accor Hotels. The matter required expertise on the Double tax treaty, and untested legislation. The firm is currently involved in Project Condor, which is a potential acquisition of an automotive distributor in Latin America.

In recent years the firm has been active in recruitment, hiring a new Transfer Pricing Partner Jorge Angarita. Jorge joins the team from EY Chile. The firm also brought on a new director of International Tax and M&A,Oscar Munevar joins the team from Garrigues.

The law firm of Lloreda Camacho & Co has a tax department which serves clients across diverse economic sectors. Their specializations include experience with mining, telecommunications, and oil industries.  

Over the research period, Lloreda Camacho’s litigation team has been active across the region. The firm represented SNF Inc. on several matters including disputes over VAT returns with the Colombian tax Authority. The firm also advises the client with all of its cross-border operations in the U.S. The firm also regularly advises ITMS Colombia on its day to day operations, including optimizing their business strategies.

Client feedback

“Close and frequent communication. ‘translation’ from legal to otherwise terms. easy to reach.”

Osman’s tax practice provides services in the areas of tax consulting, tax planning, cross-border transactions, estate planning, tax treaty network, tax due diligence, and tax litigation. The group advices clients across a range of industries including oil, E-commerce, and health care. 

Over the last research period, the firm advised Colombian investors on an agribusiness investment. The firm drafted documents, transaction agreements, well as doing the tax structuring for the deal. The firm has also been active in the private client arena, participating in over 20 wealth management projects in Colombia. These matters included; the review of personal and corporate asset investments, reviewing business structures, the application of double taxation treaties and OECD compliance.

Client feedback

“His managing partner is one of the greatest tax experts in the country.”

“Thorough understanding of our needs before going into an in-depth analysis of constraints and clearly explaining our options.”

“Personal engagement at partner level, in depth understanding of issues, and thorough exploration of options.”

Paniagua & Tovar is a boutique law firm with more than forty-five years of experience in the Colombian market. The tax department provides services in tax planning, business structuring, wealth planning, and tax litigation. The group advises both national and foreign companies, as well as individuals in all their tax concerns. 

During the research period. Paniagua & Tovar advised Caria Group Co., a oil manufacturer, on the sale of their shares and real estate property. The firm provided tax and legal planning of the sale for both of the transactions. Estimated value of Caria’s shares was $1,500,000,000, and the property sold was valued at $3,500,000.

In 2022, the firm has been active in recruitment, bringing on three new Associates to the team. Daniela Ruiz Londono joins as a senior associate from a local law firm, Alejandro Henao Grans joins as a junior associate from BDO, and Edwin Sanchez joins as a junior associate from a local law firm.

Client feedback

“They are extremely knowledgeable and patient with all the requirements that have arise during our tax planning exercise.”

“Great personal attention. Very knowledgeable of the matters we ask.”

“They have a very good profesional team and answer promptly to our requests.”

Martín Acero and Carolina Rozo co-head the tax practice of sixteen associates at Philippi Prietocarrizosa Ferrero DU & Uría. The firm has a regional presence in Colombia, Chile, and Peru. The local team excels in international reorganization, local and off shore tax planning, private clients and tax litigation.

During the recent research period, the team at PPU has been active in the transactional tax space. The firm advised on two separate transactions for Hojalata y Laminados, a tin manufacturer based in Colombia. The complex transaction dealt with significant cross-border elements to structure the purchases tax efficiently. The firm also advised Alpha Capital on the their reorganization under chapter 11 bankruptcy. The complex transaction dealt with difficult income tax, transfer pricing, and foreign exchange issues.

In 2022, PPU promoted Héctor Gustavo Ramírez to partner.

PwC Colombia has four offices throughout Colombia, in Bogota, Medellin Barranquilla, and Cali. The practice is led by 6 partners, and comprised of 100 practitioners. The firm provides services in the three main areas; litigation, compliance, and consulting. The firm provides service for over 700 clients yearly from a broad range of sectors, and have a strong expertise in retail, industrial manufacturing, technology, energy, healthcare, education, private equity and telecommunication.

Over the research period, PwC has been active across the region in tax matters. The firm advised Metro Linea 1, one of Bogota’s transport companies, on a new project. The project aims to bring concession contracts to the transport system in the city.

Client feedback

“Carlos has a lot of experience working on indirect tax issues and can provide good support in all processes and design strategies.”

“Strongly experienced firm and wide tax matters support.”

“Legal and accounting effect point of view.”

Rueda Mantilla is a boutique firm which focuses on advising companies through the tax aspects of restructuring and insolvency. The group excels at providing assistance through complex legal scenarios and is also highly capable in tax litigation.

Over the past year, the Rueda Mantilla team worked on numerous complex deals, which are all confidential in nature.

Client feedback

“Excellent team of tax lawyers with the support of littax.”

SANINTRIVAS advises clients on the dynamics of Colombian and international tax regulatory environment within the context of their business operations. The firm offers services on corporate reorganizations, consulting, and compliance to national and international clients. Key contacts at the firm are Laura Sanint and Daniela Rivas.

The SANINTRIVAS team has been active in the Colombian Transactions space throughout the research period. In November of 2022, the team advised General Catalyst, a growth investment firm on its investment and implications, into Clara Holdings Limited. The team was given a short time frame in which to assess the transaction, and meet the requirements to proceed. In May the firm advised on a complex transaction for 2TM HOLDING COMPANY involving the acquisition of a Colombian cryptocurrency company.

Client feedback

“Deep analysis, very prompt delivery and excellent legal insight and criteria.”

“Good knowledge on local regulation.”

“Understanding of the market and possible legal implications - benchmarking on similar cases. Making a client-friendly summary of a complex matter.”

“Agility and clarity in the concepts developed in their opinion.”

The tax group at Santiago Meza Abogados & Asesores specializes in Generate Corporate tax, Labor Laws, Froeign Exchange, Transactions, Auditing, and accounting outsourcing. They have an expertise in the educational, manufacturing, and construction sectors.

Over the research period, the firm has been active across the region in a broad range of tax matters including tax controversy, transactions, private client, and real estate tax.

Client feedback

“Great team lawyers, quick answers and resolution. Special support to our company on daily basis.”

“It is a serious and reputable firm. They have worked a long time because they do a good job. For the Foundation it is very important not to have discussions with the Colombian tax administration.”

BaseFirma is on of the leading Transfer Pricing firms servicing Latan America. The firm provides Transfer Pricing expertise including OECD documentation, Master file, Local file and Country-by-Country reports. Other services that the firm renders are global policy design, Cost contribution agreements, SSCs, Benchmark analysis, APA negotiation, and asset valuation.  

Over the research period, BaseFirma has been active in transfer Pricing matters in Colombia. The team has served as an expert in court proceedings for an Oil & Gas company during a dispute with the tax authority. The BaseFirma team was also involved in an offshore bunkering operation between Panama and Chile. Because of the project’s complex nature, traditional transfer pricing methods could not be applied. The team resolved to use a Profit Split method when structuring this operation.

Based in Bogota Colombia FTC was founded in 2021. The practice is led by Hector Falla, and consists of four practitioners and one economists. The tax group specializes in areas such as digital tax, transactional tax, tax planning, and all areas of local and international tax. FTC is best known for advising on national and local tax and have an expertise in the digital economy, consumer industries and wealth sectors of Colombia.

In the recent research period, FTC assisted Empata Latam with their soft landing, and reorganizaition of their shareholder structure. The complexities of this matter involved sophisticated tax work to receive the investment and not significantly impact shareholders along with complying with Colombian regulations. Empata is set to bring over 100 jobs to Colombia.

Client feedback

“Excellent tax advisors. Accurate and transaction oriented.”

TPC Group is an International Transfer Pricing and Consulting Firm, made up of a network of strategic partners in Latin America, the USA and Spain. The group specializes in transfer pricing consulting; however, they also provide tax planning services to multinational groups. 

Over the research period, the firm was active in Transfer Pricing matters throughout Latin America providing transfer pricing studies, compliance services, and preparation of local file.