Tax Department

Current View:

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What the team is known for Acts for an impressive list of real estate investors on the creation of tax-efficient structures for their acquisitions of Spanish assets or loan portfolios. Has a strong litigation practice that handles tax audits, administrative appeals and subsequent civil litigation on behalf of foreign and Spanish corporates. Co-ordinates with colleagues across Europe to advise on claims against foreign tax authorities, including standout cases seeking to enforce ECJ rulings on the recoverability of taxes imposed on the financial sector. Further areas of expertise include transfer pricing and the negotiation of supporting advance pricing agreements with the relevant tax authorities.

Strengths One client outlines the firm's major advantages: "The lawyers are very proactive, keeping us updated on relevant tax developments that impact our position and seeking contact when immediate action is required. They understand our business and are therefore able to advise on what is needed in our situations."

"They make themselves available around the clock and explain complicated structuring concepts in simple terms," states another client.

Work highlights Co-ordinated real estate, finance and tax advice to Castellana Properties within the context of various transactions, including the refinancing of the entire group, its listing on the MAB and the acquisition of several shopping centres.

Notable practitioners

Eduardo Gracia leads Ashurst's tax department both for Spain and the EMEA region. Some of his many areas of expertise include advising on real estate tax and the structuring of inbound investments. His clients range from international corporations to banks and investment funds. Clients praise his "superb technical knowledge, his ability to distil complex subjects into simple terms and to deliver work quickly and accurately." Another interviewee states: "He's very smart and client-focused."

Javier Hernández Galante is best known for his work on real estate transactions that are subject to the special tax regime for SOCIMIs. He also handles NPL transactions and contentious claims seeking to challenge unfavourable decisions by Spanish tax authorities. One client states that "it's a pleasure working with him because he really knows the structures," whilst another calls him "cutting-edge in his advice."