Ecuador

Andersen Ecuador is a part of the Andersen global network of over 395 offices worldwide. The firm is focused on providing services in litigation, transfer pricing, tax advising, tax compliance, employment and labor, corporate law, and transactional tax. The firm has developed technology tools to innovate their practice with their new TDA Analytics, which is a tool used to identify tax opportunities and benefits.  

Over the research period, the firm has been active in tax disputes in the region. They firm represented several clients in controversies with the IRS involving income tax refunds. The firm also assisted an export company acquire a tax credit, in relation to VAT refunds.  

In 2022, Andersen has been active in recruitment bringing on 5 new members to their Senior Legal team. Cindy Vivar joins from ROCALVI, Carlos Campos joins from CENSUS Consultores, Paul Alvarado joins from EY, Cristian Santamaria joins from Tropicalfruit Export, and Andrea Ojeda joins from Diners Club Ecuador.

Based in Ecuador, Bustamante Fabara is the product of the merging of two leading firms, Fabara y Cia and Bustamante & Bustamante. With Fabara y Cia’s outstanding track record in Tax Controversy and Bustamante’s expertise in tax planning and business structuring, the newly formed firm aims to provide services for all tax matters. The firm has a 95% success rate in tax refund proceedings, and specializes in foreign trade, M&A transactions, dispute resolutions, and tax planning.

Over the research period, the firm has been active throughout the region. The firm represented Abbott Laboratorios del Ecuador in a customs dispute involving imports of pharmaceuticals classified as food for tariff purposes. The customs error was recognized as a violation of rights and the judgment serves as a guide for future resolutions in similar cases.

Client feedback

“Extensive tax legal knowledge of the processes in which they provide advice. Trained and experienced staff.”

The tax department at CCB Abogados has experience supporting both public and private institutions. The firm provides a range of services including local tax advice, tax due diligence, compliance, and tax advice on investment.  

During the research period, CCB has been actively advising on tax matters in the region. The firm advised China Civil Engineering Construction Corporation on tax matters related to digital services. The firm also advised an e-commerce client on tax matters involving regulation and application of incentives.

The tax department at CorralRosales has established expertise in the areas of tax and customs regulations. The team advises local and foreign clients on their operations in Ecuador in order to avoid possible contingencies in the tax field. The group has a reputation for their knowledge in the area of international tax. 

CorralRosales’ tax team has been active in tax controversy matters during the last research cycle. In December 2022, the firm received a favorable judgement for client UPS SCS, in a dispute with the IRS involving income tax. Due to COVID, there was much legal uncertainty around the statute of limitations in this case. The favorable end result for UPS SCS formed a level of precedence surrounding the statute of limitation.

Client feedback

“Great coordination, responsible, communicative, always on time, provided high-quality deliverable.”

“CorralRosales is the firm that I know in the entire Region, that best understands our business. It stands out due to its practical sense, of our business. This is common in all their lawyers: Headed by Xavier Rosales, and also by Jimmy Rodriguez; excellent lawyers, technically, purposeful, agile, with great business sensitivity and empathy.”

Grant Thornton Ecuador was established in 2018, and is a part of the Grant Thornton network of over 50,000 professionals in more than 140 countries. The firm provides services in tax, transfer pricing, accounting, consulting, and auditing services. With such a large global network, the firm often handles matters for large multinational companies seeking overseas cooperation.

During the research period, the Grant Thornton Ecuador team was active in matters of tax and transfer pricing. The firm assisted a transport company with an investment contract needed for their goals of expansion. The firm also provided tax optimization services to a number of clients in the area, in order to identify opportunities and tax incentives.  

In 2022, the firm lost one member, Andrea Carabaio who departed to LG Ecuador. The firm was also active in recruitment, bringing on new senior member Solange Chavez. Solange joins the Grant Thornton team from Perez Bustamante Ponce.

Client feedback

“Because Grant Thornton network greatly contributes to attracting multinational companies operating in several member-firm countries to getting the network standardized services. In addition to high professionalism, the firm’s specialists are renowned for their profound foreign languages proficiency which helps local clients in foreign economic activity and co-operation with overseas companies. Moreover, the unchanged composition of the top managerial staff of the firm for many years helps to win the confidence of potential clients and keeps current clients and business partners.”

“They have a personalized service. They do not use standard reports for all clients. They analyze the features and do something custom.”

“They are very knowledgeable in their field, always on call and with 100% compromise to fulfill our needs as a client.”

LEXVALOR is based in Ecuador, with two offices located in Quito and Guayaquil. The firm consists of 16 practitioners, specializing in tax matters for both national and multinational corporations. LEXVALOR specializes in tax advice, Tax disputes, Compliance and Transfer Pricing.  

During the last research period, the firm defended longstanding client Productos AVON Ecuador, in a matter against the Tax Administration in multiple cases involving income tax disputes. The firm received a favourable judgment for the client and continues to represent them with legal disputes. Similarly, the LEXVALOR team is currently advising Oriente Seguros in several administrative and judicial matters, including tax disputes, Currency remittance issues, and income tax matters.

Client feedback

“Good add value, fast answers.”

“Dedication, professional ethics and comprehensive advice.”

The tax department at Perez Bustamante & Ponce is comprised of three partners and nine associates, including accountants and engineers. Juan Gabriel Reyes and Maria Rosa Guerra lead the team. The group advises domestic and international companies on tax planning, tax structuring, cross-border M&A transactions, and project financing. 

During the research period, Perez Bustamante & Ponce has been active in tax matters in the region. The firm advised Telefonica, a telecommunication provider in matters involving mobile concessions. The team helped to optimize benefits for the clients ‘s concession renewal, applying new tax benefits introduced in the 2021 tax reform. The application of these new tax benefits sets a standard for other corporations in the telecommunications area with similar interests. 

IN 2022, the firm was active in recruitment bringing on three new members to the team. In May, new senior associate Max Salcedo joins the group. In November, the firm welcomed Adrián De La Trinidad Aguilar as Tax Supervisor, and in October, Camila Fernandez joins as a tax advisor.

Client feedback

“The team is available, responsive, knowledgeable and reasonably priced.”

“Knowledgable, reliable”

“Depth of analysis, goal tracking, proximity to customer needs, good argument and technique.”

“Very knowlagable, responsive and creative.”

“Quality, efficiency, accuracy.”

“Excellent knowledge and preparation of lawyers, timely attention to requirements.”

The firm of Robalino has a full-service tax practice. The team provides services related to, international tax, transfer pricing, customs, tax policy, litigation, and complex cross-border transactions. Robalino serves as advisor for investors coming to Ecuador and to domestic entities looking to do business abroad. The department is comprised of twenty tax professionals including, lawyers, and accountants.

During the latest research period, Robalino acted for PERENCO in a tax mediation with the IRS and Attorney General involving the termination of PERENCO’s  oil concession contract in Ecuador. The firm led the mediation between the parties and helped to negotiate a tax settlement agreement finally ending a 15 year long controversy between the parties. 

In the past year, Robalino has been active in recruitment. The firm welcomes new Senior Internal Tax Consultant, Jose Troya who joins the team from previous work at the IRS. The team is also joined by new Director, Bolivar Figeuroa who previously worked at the Ministry of Production, Commerce and Investments

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. 

During the research period, TPC has been active in several Transfer pricing matters throughout the region, due to the nature of these matters they shall remain confidential.