Montse Campmajó

She regularly provides ongoing advice on transfer pricing for local and cross-border transactions within multinational Groups, preparing transfer pricing documentation (Group’s Documentation and Taxpayer Report), the corresponding benchmarking analysis for the intra-group transactions, as well as advising on determining tax and transfer pricing policies applied to intra-group transactions, reviewing intra-group agreements related to management fees and other corporate services, license and distribution agreements.

In addition, she has been involved in Permanent Establishment analysis of non-residents companies with activity in Spain in order to determine the profit to be allocated to the Permanent Establishment. She has also participated in intangibles analysis, determining the proper allocation of profit (e.g. royalties in case of license of trademarks and know-how) based on the contribution of each of the parties to the creation of value.

Montse also provides recurrent advice to clients that are involved in tax audits in Spain regarding transfer pricing and corporate income tax matters.

Finally, she also advices venture capital firms operating in Spain in their transactions and in their relationship with the investors and managers from a tax standpoint.

• Negotiating an APA for a multinational group operating within healthcare industry (conversion into a contract manufacturer) that was suspended because of the starting of a TP audit. We advised the client on defending the TP model and policy applied to several transactions and succeeded in negotiating with the Spanish Tax Authorities.
• Advising a multinational group operating in Spain within the defense industry during the last steps of the TP audit in Spain, in which the Spanish Tax Authorities challenged the TP methodology applying a profit split method. Advising on further litigation steps and potential MAP with the UK.
• Assisting a multinational group operating in Spain within the TMT sector and advising on the assessment of the permanent establishment risk and establishing a new TP policy for the hub of employees located in Barcelona and providing marketing, sales and technical services to the whole group.
• Assisting a multinational group operating within the TMT sector on a Spanish audit focused on the TP remuneration of the Spanish business. The Spanish Tax Authorities challenged the amount of expenses related to Data Centers and considered it as royalties. We are assisting the group in the litigation.
• Advising on the liquidation of Spanish subsidiary operating in Spain and transferring the business to other entities of the group.
• Assisting venture capital fund in incorporating a new fund in Spain and Luxembourg and providing tax advice to the carry regime to the managers in Spain and in the UK.
• Regularly assisting venture capital fund in analysing the distribution of the proceeds to the investors from a corporate, personal and non-residents income tax.
• Advising real estate venture capital fund to assess the risk of developing the project in Spain with investors in Luxembourg and analysis of the tax implications arising therein. Also we advised with our corporate colleagues in M&A for acquiring the project and incorporating the relevant structure.

• Best Transfer Pricing Team in Spain, International Tax Review (2011, 2013, 2014 and 2017)

From the beginning, we in Baker McKenzie have participated in different Corporate Social Responsibility programs. The most recent, coinciding with our 25th anniversary in Barcelona, is the pro bono advice agreement with the Sant Joan de Déu Charitable Organization.

Other outstanding projects are the agreement to create and advise the Liceu Barcelona Opera House US Foundation and regular contributions to the Food Bank.