Catalina Cubillo

Biography

Catalina Cubillo Pérez de Ayala is a team leader in the Tax Practice at Baker McKenzie’s Madrid office. She joined the Firm in 2015 and advises corporate groups and high‑net‑worth individuals on tax controversy, dispute resolution and ongoing tax compliance across direct, indirect and local taxation. She has significant experience in transfer pricing, including the design of TP policies, documentation and the defense of TP audits. Catalina regularly works on complex cross‑border matters and has contributed to significant litigation shaping Spanish tax jurisprudence, while also engaging in Firm initiatives and OECD-related thought leadership.

Practice Focus

Catalina advises clients on complex tax litigation and administrative proceedings before all levels of the Spanish tax authorities and courts, with a particular focus on cross-border and high-stakes matters. Her practice combines tax controversy with significant experience in transfer pricing, including the design and implementation of TP policies, the management and defense of TP audits, and the preparation and review of documentation. She regularly supports multinational groups across industries in navigating international tax risks, integrating corporate taxation, indirect taxes and TP considerations to deliver strategic and coordinated solutions.

Representative Legal Matters

Advised on a landmark Supreme Court ruling concerning the deductibility of directors’ remuneration for corporate tax purposes, in which the Court departed from the longstanding position of the tax authorities that denied deduction unless all corporate‑law formalities were strictly met. Despite the absence of a shareholder resolution approving the specific compensation, the Court held that such remuneration is deductible insofar as it is directly connected to the company’s income‑generating activity.
Advised on tax litigation concerning the attempted recovery of penalties arising from corporate tax offenses by targeting relatives of a company administrator, where the tax authorities sought to apply general tax‑collection procedures to non‑tax debts. The Tax Court held that such penalties cannot be transferred to third parties through these mechanisms, as they do not constitute tax liabilities.
Advised several clients on claiming international double‑taxation relief for dividends from Portuguese subsidiaries, in cases where Spanish tax forms restrict the application of the Double Taxation Agreement or the Parent‑Subsidiary Directive, effectively imposing domestic limits that appear inconsistent with international treaty obligations.
Advised a corporate group in a tax audit involving transfer pricing and other adjustments and subsequently challenged the disputed assessments, obtaining a favorable ruling that upheld the deductibility of directors’ remuneration and the unconstitutionality of RD‑Law 3/2016, resulting in a refund of approximately EUR 16 million.
Advised on a transfer pricing inspection in which the Spanish tax authorities disputed the pricing and temporary zero‑profitability of a Spanish distribution entity following a Europe‑wide reorganization, a matter complicated by the nature of the intra‑group transactions and the group’s cost‑allocation structure.
Advised a multinational group in a major tax audit in Spain where the authorities challenged the transfer pricing of a key manufacturing entity generating over EUR 100 million annually, deploying a multidisciplinary team to build a strong defence and mitigate associated risks.

Professional Associations and Memberships

Madrid Bar Association

Admissions

Madrid~Spain (2016)

Education

IE Business School (Woman in Law Certificate) (2025)
Centro de Estudios Financieros (Course Related-Party Transactions and Transfer Pricing) (2024)
Centro de Estudios Garrigues (Master’s Degree in Access to the Legal Profession, Specialization in Business Law ) (2015)
Universidad Pontificia Comillas (ICADE) (Diploma in Communication Skills and Foreign Language Studies) (2014)
Universidad Pontificia Comillas (ICADE) (Bachelor’s Degree in Law and Diploma in Business Law) (2014)

Languages

English
Portuguese

Previous Offices

London

Co-author of the chapter “Origen y evolución de la gobernanza, y en particular de la fiscal. El marco jurídico actual de la gobernanza fiscal en España y desarrollo en Derecho comparado,” included in a specialized publication on tax governance and compliance (2020).