Guyer & Regules’ tax practice comprises five partners and 42 other tax professionals including lawyers and certified public accountants (CPAs). The practice assists clients with tax planning for local business operations, as well as for operations located offshore or in free trade zones. It also advises on business restructurings, including M&A, spinoffs and liquidations, the interpretation and implementation of tax treaties, tax audits and litigation in either administrative or judicial tax disputes. Last year the firm advised Unilever on the updating of the VAT regulations, including the lowering of rates for cleaning products in the country. Other clients include HSBC, BNP Paribas, Citibank Uruguay, Banco Itau and Telefonica. The practice is led by Juan Albacete, a lawyer who is widely known among his peers for his expertise in tax matters. Partner Nicolas Juan, a CPA, is in charge of the firm’s corporate and tax departments. He is president of the National Institute of Tax Studies of Uruguay. Diego Licio, also a CPA, focuses on tax and accounting advice for doing business in Uruguay’s free trade zones. A client describes his experience with the firm as “excellent,” adding that Albacete’s advice “has been extremely useful and reliable”. One competitor called them “the best tax advisers and the most complete tax practice in Uruguay”.