Practice area

World TP Reviews

Transfer pricing
Barbosa Müssnich Aragão

The tax department at BMA is full service and consists of a 41-person team, which includes 10 partners. José Otavio Faloppa has led the practice at the firm since 2017. Clients include Embraer, Rede D’Or, Walmart, Makro, Johnson Controls and BRMalls. 

Bichara Advogados

The transfer pricing team at Bichara Advogados maintains strong relationships with multinational companies in the paper and pulp and electronics sectors. Its transfer pricing work has mostly revolved around transfer pricing methods applied by the Brazilian Internal Revenue Service. Among its many tax services, the firm provides pro bono assistance to many programmes such as Instituto Bola pra Frente, a non-governmental organisation aimed at helping children through social programmes, emphasising sports, culture, arts and education. They also support quilombola communities through its pro bono work. 

Over the research period, the team represented Veracel Celulose in an administrative proceeding on a transfer pricing tax assessment. The team won a favourable outcome in the first level decision. 

Brazuna Ruschmann & Soriano Sociedade de Advogados

BRATAX is a boutique tax firm established in 2013 that is now spread over offices in São Paulo and Rio de Janeiro. The team is led by three partners: José Luis Brazuna, Cristiano Ruschmann and Ciro Soriano de Oliveira. They are active in numerous sectors such as IT, chemicals, pulp and paper, infrastructure, cosmetics, entertainment, automobile and education. 

During the research period, the team defended their client in a leading case regarding accusations of incorrect transfer pricing adjustments on their tax calculations.  


The tax team at Deloitte Brazil, a highly reputable firm, is made up of more than 1,600 professionals. Carlos Ayub heads the transfer pricing team within the tax department. It works with multinational clients across multiple sectors such as oil and gas, mining, consumer goods, automobile, technology, financial services and telecommunications.  

Throughout the research period, the transfer pricing group worked with its client, a US multinational group, to advise them on transfer pricing matters in an effort to improve tax efficiency. Additionally, it advised another client, a subsidiary of a German chemical manufacturer, through a transfer pricing inspection from the Brazil Revenue Service. 

Demarest Advogados

The transfer pricing team at Demarest Advogados falls under the tax department, which consists of 45 lawyers led by 10 partners and five of counsel. It specialises in working with clients in the automobile, pharmaceutical, life sciences and food and beverages sectors, to name a few. 

The team has assisted banks over the past year, specifically Itaú BBA, Bank of America Merrill Lynch, BTG Pactual, Citibank, Banco Brasil Plural and Morgan Stanley, with tax matters including transfer pricing.  

Dias Carneiro Advogados

Dias Carneiro was founded in 2002 and since then has become a business-driven, hands-on practice. It is active among many sectors including pulp and paper, forestation, pharmaceutical, technology, telecommunications and real estate.  

In the past 12 months, the team advised its client in the software industry on transfer pricing matters regarding cross border transactions. Furthermore, it assisted another client through a corporate reorganisation. All clients remain confidential. 

Felsberg Advogados

The tax department at Felsberg Advogados, which encompasses transfer pricing, is led by a three-person team of Anna Flávia Izelli, head of tax litigation, Ivan Campos, head of tax in the Rio de Janeiro office and Rafael Malheiro, head of tax consulting and corporate tax in the São Paulo office. The team works with clients among numerous sectors such as retail, chemicals, automobiles, financial services and food and beverage. 

In the past 12 months, the team worked on numerous transfer pricing matters. All matters and clients remain confidential. 

Gaia Silva Gaede Advogados

The team at Gaia Silva Gaede Advogados has been providing a full range of transfer pricing services since 1996. It is spread out over five offices throughout Brazil, in Curitiba, Brasília, São Paulo, Rio de Janeiro and Belo Horizonte. Most of the clients the team works with are multinational companies.  

In the past 12 months, the team represented Schmolz + Bickenbach in a matter regarding transfer pricing rules applied to imports. The case resulted in a ruling favourable to the client. It also advised Primetals Technologies in transfer pricing calculations taking into account the client’s import and export operations. This included choosing the transfer pricing method that best suited the client.  

Client feedback 

“Strengths - Well prepared and committed professionals, delivering jobs with quality and punctuality.” 

Huck Otranto Camargo Advogados

The tax team at Huck Otranto Camargo Advogados, which encompasses transfer pricing, has 10 partners. It represents clients from a wide variety of sectors, including pharmaceutical, insurance, education, retail and travel, as well as private individuals. 

During the research period, the team assisted Tembici in its 100% share acquisition of Chilean company Bike Santiago, specifically regarding import operations between the international affiliates. It also represented Eli Lilly do Brasil in an administrative proceeding regarding fines imposed by the Receita Federal do Brasil. 

Lefosse Advogados

The tax team at Lefosse Advogados provides full tax services and is active among many sectors, including agribusiness, tobacco, pharmaceutical, IT, education and food and beverages. Its clients range from large multinationals to local Brazilian corporations and private equity firms. The team is made up of more than 40 professionals.  

Machado Associados Advogados & Consultores

Founded in 1990, Machado Associados’ tax team is made up of 50 professionals, 22 of which are partners. The team works across three offices throughout Brazil, in São Paulo, Rio de Janeiro and Brasília. The international taxation and transfer pricing team is one of four working teams within the tax department. It specialises in the automobile and manufacturing sectors, to name a few. 

In the last 12 months, the group worked on numerous transfer pricing cases. All matters and clients remain confidential. 

Machado Meyer Sendacz & Opice Advogados

The tax team at Machado Meyer Sendacz & Opice Advogados is led by 16 partners. It prides itself on providing a boutique tax firm experience within a full-service law firm. Operating out of offices in Brasília, São Paulo and Rio de Janeiro, the team works with clients over many sectors such as construction, telecommunications, energy, financial services and oil and gas.  

Mattos Filho Veiga Filho Marrey Jr e Quiroga Advogados

Mattos Filho Veiga Filho Marrey Junior & Quiroga Advogados is active among numerous sectors including financial services, oil and gas, chemicals, life sciences, automotive, IT and pharmaceuticals. The department consists of 19 partners and 87 associates spread out over three Brazilian offices (São Paulo, Rio de Janeiro, Brasília) and one international office in New York. 

Over the last 12 months, the team represented FujiFilm do Brasil in a case related to an infraction stemming from transfer pricing miscalculations. The case resulted in a favorable decision for the client from the Administrative Council of Tax Appeals. In a similar case, the team represented Sinochem Petróleo Brasil in front of the Administrative Council of Tax Appeals in a dispute regarding an infraction.  

Pinheiro Neto Advogados

In 2018, Pinheiro Neto Advogados opened a new office in Palo Alto, California. This office joins three Brazilian offices in São Paulo, Brasília and Rio de Janeiro, of which there are 19 partners in charge. Clients include LG, Pfizer, Merck, Janssen-Cilag, Honda, Renault, Nissan, Yamahas and Ajinomoto, among many other multinational firms across multiple sectors. 

Client feedback 

“PNA is an excellent law firm by technical perspectives and also by their ethical values.” 

Rolim Viotti & Leite Campos Advogados

Since its founding in 1993, Rolim Viotti & Leite Campos Advogados has been providing tax law services. It has maintained relationships with clients in most sectors including aerospace and defence, telecommunications, automotive, financial services, food and beverage, forestry, healthcare, mining, metals and energy. Among the firm’s many offerings, it specialises in tax planning, indirect tax, transactional tax, tax litigation and tax incentives for R&D and technological innovation.  

Siqueira Castro Advogados

Siqueira Castro Advogados is active in numerous sectors. Clients include the Dow Chemical Group, Peugeot Citröen, Terra Norte, McKinsey & Company, Kellogg, Banco Caixa Geral, Fleury Group, Shell, Santa Cruz, Cruzeiro Esporte Club and Samsung. The tax department specialises in tax litigation and consulting and consists of over 100 professionals, including 60 partners and associate lawyers.