International Tax Review - Euromoney


Led by Juan Manuel Albacete, Guyer & Regules’ tax practice serves clients in a range of sectors, including but not limited to, financial services, telecommunications and energy. Its three partners and 42 professionals, which include certified public accountants, advise clients on indirect tax, corporate tax, transfer pricing and tax disputes. In July 2011, the firm completed tax planning and tax analysis for Montes del Plata, relating to the construction of a $1.5 billion paper pulp mill, the largest investment in the country’s history. In another matter, concluded in December 2011, the tax group assisted HSBC Securities USA and Citigroup Global Markets in a series of liability management transactions performed by Uruguay concerning its public debt, such as a new issue of global bonds for cash, an exchange offer and a cash tender offer. The $2 billion series of transactions helped Uruguay restructure its sovereign debt and return to investment grade status in March 2012, which it had lost because of the economic crisis of 2002. The tax practice is well-respected by rivals and clients alike. “Juan Albacete is an expert in tax issues in Uruguay and always provides the right advice,” one client said, while peers recognise his skill in corporate tax. Nicolás Piaggio is praised by competitors for his M&A expertise, while Nicolás Juan is singled out for his work in cross-border structuring and his knowledge of capital markets and financial products. Clients choose Guyer & Regules as their main adviser for several reasons: “professionalism, experience in finance, excellent group of professionals, and because they know our culture and needs.”