Venezuela

Altum Abogados is a Venezuelan based firm with an office in Caracas. The tax practice at Altum provides a full range of services including advising, estate planning, transfer pricing, and litigation. The firm frequently assists high profile multinationals with business solutions tailored to fit their needs.  

During the research period. The Altum abogados team has been active in corporate tax, tax controversy and Transactional matters throughout the region. Due to the sensitivity of these matters they remain confidential.

Client feedback

“Altum has a solid base of knowledge to solve issues related to local tax.  They have proven to be efficient in solving our requirements.”

“They are very dynamic and proactive.”

Baker McKenzie is a global firm with over 70 offices and a team of over 13,000 people. The Venezuelan office is located in Caracas, Venezuela. The firm specializes in tax planning & transactions, tax controversy, transfer pricing, indirect tax and global wealth management. The group represents a large number of multinationals, both public and private. 

During the research period, Baker McKenzie has been active in the Venezuelan transactions market. The firm acted for United Distillers Group, a Spanish owned beverage company in the sale of their Venezuelan rum brand Diplomático to Brown- Forman. The $725 million deal is said to be one of the transactions of the year for Venezuela’s M&A market.

BaseFirma is on of the leading Transfer Pricing firms servicing Latin 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.

During the research period, the BaseFirma Venezuela team has been active in Transfer Pricing matters in the country. Due to the sensitivity of their work, they remain confidential.

Deloitte’s tax department is specialised in tax compliance, due diligence, M&A, indirect tax and transfer pricing. The group has more than 24 years of professional experience. It represents clients in a variety of sectors, including transportation, real estate, manufacture, technology, financial services, energy and resources, laboratories and health. It functions under the name of Lara Marambio & Asociados. 

During the research period, the Deloitte Venezuela team has been very active in the transfer pricing arena. The firm participated in a complex transfer pricing analysis involving two types of currency with discrepancies in the operating profits. The team had to analyze under both currencies to evaluate where the discrepancy happened as well as to decide which currency was best to move forward with in terms of transfer pricing.

A leading firm in Venezuela, D’Empaire’s tax group provides a wide range of tax planning for corporate and private clients on the tax implications of domestic and cross-border transactions. It also excels in tax litigation and on international tax matters. The group was, in fact, part of the Venezuelan team that concluded the negotiations of the US-Venezuela tax treaty.

During the research period, the D’Empaire tax team was active in tax controversy matters. The firm is currently representing Weatherford in several high profile tax litigations in relation to municipal tax assessments. Due to the economic climate in Venezuela, many oil & gas companies are being targeted by local tax laws. The D’Empaire team challenges these assessments in hopes to set a precedent for other oil & gas companies with operations in the country facing similar tax assessments.

Client feedback

“The level of legal service is very high, the professionals are excellent and have total expertise. They also are very committed with the timelines for the completion of the services.”

The Dentons Venezuela office was established in 2019 in Caracas, Venezuela. The firm provides services in local and international tax, indirect taxes, tax structuring, audit support, M&A, and transfer pricing. The Denton’s team has experience in a broad range of industry sectors including, energy, banking, employment & labor, corporate, insurance, and healthcare.  

During the research period, the Dentons Venezuela team was involved in several tax matters. The team handled litigations, corporate tax matters, and customs compliance. Due to the nature of these matters they remain confidential.

Client feedback

“They are a dynamic, up-to-date team, willing to look for alternatives to adapt the best

strategy to the client.”

“Highlights their creativity to find new solutions.”

Travieso Evans Arria Rengel & Paz are specialized in tax controversy, indirect tax, customs and general corporate tax, such as tax planning and corporate restructuring. They handle disputes at international, national, regional and municipal levels. The firm advise clients on tax procedures, defenses, and remedies, and consultations with the tax authorities and provide tax advice on mergers and acquisitions of companies. Most of the firm’s clients are transnational companies with presence in Venezuela, large national companies, entrepreneurs, and natural persons with large patrimonies who seek advice on wealth management.

During the research period, Travieso Evans’ tax team has been active throughout the region. Due to the sensitive nature of these matters they remain confidential.

Client feedback

“The lawyers have extensive experience and expertise in tax matters, reliability and teamwork.”