Insight

Baraona Fischer & Cia on the Changes Coming to Tax Law in Chile

Juan Manuel Baraona of the 2019 "Law Firm of the Year" award-winner for Tax Law in Chile discusses forthcoming regulations, career highlights, and his secrets to success in an interview with Best Lawyers CEO Phillip Greer.

Baraona Fischer & Cia LFOTY
Best Lawyers

Best Lawyers

May 16, 2019 01:24 PM

Baraona Fischer & Cia, winner of the 2019 “Law Firm of the Year” award for Tax Law in Chile, is taking an active role in navigating new regulations and developments in its country. In an interview with Best Lawyers CEO Phillip Greer, senior partner Juan Manuel Baraona discusses these changes and the positions of the business and legal communities in a moment of change.

What achievements are you most proud of from this past year that led to Baraona Fischer & Cia being named a "Law Firm of the Year" for Tax Law?

Juan Manuel Baraona: More than achievements in certain specific cases we are proud of our excellent team, our permanent policy of providing the best legal advice to clients and of maintaining with them a close and professional relationship.

Can you tell us about one or two of your landmark cases?

In the day to day of professional practice, it is difficult to select specific cases. I do recall the first favorable Supreme Court decision in a transfer prices case. To this, I must add two important cases before the Internal Revenue Service related to differences in deductible expenses for tax purposes.

Are there any other attorneys at your firm whom you would like to recognize who greatly assisted the firm in winning these decisions?

Success belongs to all intervenient partners and associates. I must acknowledge, however, the leading participation of my partners Carolina Collantes, Alex Fischer, and Juan Cristobal Ortega in conducting these cases.

Baraona Fischer & Cia seems to have a close relationship with the University of Chile. Does that relationship play a strong role in the firm’s recruiting strategy when looking for new talent?

I have been a professor at the Universidad de Chile Law School for many years and so it has been my partner Carolina Collantes. Several of my partners and many associates are graduates from the university as well. But many of them also come from other important Chilean universities and have joined the firm only because of their academic and professional credentials. In terms of recruitment strategies, our policy is absolutely neutral in all respects.

Does your firm have a mentorship program? What does your firm do to help support your practicing attorneys?

Our firm has established an internal policy of professional development for associates and a program that encourages them to pursue studies in higher education institutions both in Chile and abroad.

[RELATED: "Best Law Firms" client surveys due May 17]

Do you see Tax Law changing in Chile in the coming years?

The Chilean tax system has undergone important changes in recent years and I believe that this situation will continue in the future although in a somewhat different direction. During the previous administration, income taxes were amended, establishing a new regime for business entities and profit distributions considered by many as inconvenient, administratively complex, and discriminatory among taxpayers in similar situations. The new government has sent a bill to the congress, which aims to reverse some of the main provisions of the current tax system.

Have there been any important policy changes locally or abroad that have impacted Tax Law in your country?

With regard to domestic legislation, the most important change will be the possible approval of the aforementioned bill that has been a matter of tough negotiations between the government and the opposition parties, the outcome of which may not be anticipated.

As to international aspects, progress continues regarding the strengthening of relations with tax administrations with other countries.

How has the 2018 tax reform bill impacted your clients and the way you approach certain cases?

Our policy has always been to maintain a permanent relationship of contact and information with clients, which will surely be continued and increased as a result of changes in the new legislation. Such modifications will not affect past situations but rather future ones.

How is your firm helping clients learn about and stay compliant with the new tax laws?

The business community is having an active participation in the public discussion of the bill in the media, in the political arena, and government circles, a task in which we have also participated. Regarding our clients, the communication has been continuous through the normal contact channels, as well as through a web page designed specifically for this purpose.

In what ways has technology affected Tax Law?

In recent years the Chilean tax system has really experienced a technological revolution, in terms that almost everything is computerized, both for the IRS and for taxpayers, to such an extent that it can be said that the vast majority of tax stuff as accounting records, control procedures, and other relations between the authority and the taxpayers are made by computer. More than 95 percent of the tax returns computationally delivered.

The Chilean tax system has undergone important changes in recent years and I believe that this situation will continue in the future although in a somewhat different direction.

How does Baraona Fischer & Cia stay agile against competitors in Tax Law?

Easy. Keeping our team in shape and maintaining our links with clients.

Is there anything else you would like to share with me about your firm–either for this practice area or for other groups the firm is particularly proud of?

As to the tax practice, I would like to thank Best Lawyers for qualifying us as the Tax “Law Firm of the Year” as it means recognition for all of us who work for the firm. I must add that I am especially proud of the constant and strong growth of the other areas of practice that have contributed in a very important manner to the development of our firm.

Related Articles

Paying the Price in P.R.


by Best Lawyers

Isis Carballo-Irigoyen discusses discuss intergovernmental relations, opportunity zones, and why a move to Puerto Rico to ease your tax burden likely won’t be as simple as you might think.

An Interview With McConnell Valdés

On the Cutting Edge After a Century in Business


by Best Lawyers

Manuel Carvallo of Estudio Carvallo Abogados discusses his firm's 130-year-old history, adapting to the latest technologies, and its 2019 "Law Firm of the Year" award for Insurance Law in Chile.

Estudio Carvallo Law Firm of the Year

Why Cariola Díez Pérez-Cotapos Developed Its Own Legal Tech


by Best Lawyers

Juan Pablo Matus of Cariola Díez Pérez-Cotapos, 2019 "Law Firm of the Year" award for Corporate and M&A Law in Chile, discusses his firm's joint venture with Cognitiva in creating Lexnova, a legal AI system.

Cariola Díez Pérez-Cotapos Interview

Opening Pandora's Box in Portuguese Tax Law


by Best Lawyers

Diogo Ortigão Ramos discusses Cuatrecasas' 2019 "Law Firm of the Year" award for tax law in Portugal.

Cuatrecasas Law Firm of the Year Interview

Alicia Lloreda on the Increasing Complexity of IP Law


by Best Lawyers

The Lloreda Camacho & Co. attorney discusses the firm's 2019 “Law Firm of the Year” award for Intellectual Property Law.

Alicia Lloreda Law Firm of the Year

A Master in Defending the Accused


by Best Lawyers

The relentless pursuit of justice when everything is on the line.

Patrick A. Mullin

FinTech at the Crossroads


by Rob Scavone, Pat Forgione, Tayleigh Armstrong, and Kelly Kan

Regulating the Revolution

Fintech at the Crossroads

Announcing The Best Lawyers in Germany™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Germany.

Black, red and yellow stripes

Announcing The Best Lawyers in Switzerland™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Switzerland.

Red flag with white cross

Announcing The Best Lawyers in Austria™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Austria.

Red and white stripes

Announcing The Best Lawyers in Italy™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Italy.

Green, white and red stripes

Follow the Money


by Rachel F. Sifuentes

Women are the future of fintech—but in the here and now, they’re still being underserved in an industry otherwise marked by explosive growth. Here’s why that must change.

Women and the Future of Fintech

Announcing the 7th Annual Women in the Law Publication


by Best Lawyers

The 7th Annual Women in the Law publication is a celebration of all the female legal talent across the country, honoring every woman listed in The Best Lawyers in America and Best Lawyers: Ones to Watch in America.

Honoring Female Lawyers in the United States

How Being a Client Almost Made Me Quit Law School


by Paula Birch Billingsley

Suddenly becoming a personal injury client gave one law school student a new appreciation for clients’ needs and concerns. Here are some considerations even experienced lawyers ought to keep in mind.

Personal Injury Client Almost Quit Law School

The Best Lawyers in Chile™ 2022


by Best Lawyers

The results include an elite field of top lawyers and firms.

The Best Lawyers in Chile™ 2022

Announcing the 2022 Best Lawyers in Colombia™


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers in Colombia™

Trending Articles

Announcing the 2023 The Best Lawyers in America Honorees


by Best Lawyers

Only the top 5.3% of all practicing lawyers in the U.S. were selected by their peers for inclusion in the 29th edition of The Best Lawyers in America®.

Gold strings and dots connecting to form US map

Best Lawyers: Ones to Watch in America for 2023


by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in America™ highlights the legal talent of lawyers who have been in practice less than 10 years.

Three arrows made of lines and dots on blue background

Announcing the 2022 Best Lawyers® in the United States


by Best Lawyers

The results include an elite field of top lawyers listed in the 28th Edition of The Best Lawyers in America® and in the 2nd Edition of Best Lawyers: Ones to Watch in America for 2022.

2022 Best Lawyers Listings for United States

Famous Songs Unprotected by Copyright Could Mean Royalties for Some


by Michael B. Fein

A guide to navigating copyright claims on famous songs.

Can I Sing "Happy Birthday" in Public?

Announcing the 2023 The Best Lawyers in Canada Honorees


by Best Lawyers

The Best Lawyers in Canada™ is entering its 17th edition for 2023. We highlight the elite lawyers awarded this year.

Red map of Canada with white lines and dots

Choosing a Title Company: What a Seller Should Expect


by Roy D. Oppenheim

When it comes to choosing a title company, how much power exactly does a seller have?

Choosing the Title Company As Seller

What the Courts Say About Recording in the Classroom


by Christina Henagen Peer and Peter Zawadski

Students and parents are increasingly asking to use audio devices to record what's being said in the classroom. But is it legal? A recent ruling offer gives the answer to a question confusing parents and administrators alike.

Is It Legal for Students to Record Teachers?

Announcing the 2022 Best Lawyers in Canada™


by Best Lawyers

The results include an elite field of top lawyers listed in the 16th Edition of The Best Lawyers in Canada™ and 1st Edition of Best Lawyers: Ones to Watch in Canada.

Announcing the 2022 Best Lawyers in Canada™

Caffeine Overload and DUI Tests


by Daniel Taylor

While it might come as a surprise, the over-consumption of caffeine could trigger a false positive on a breathalyzer test.

Can Caffeine Cause You to Fail DUI Test?

The Real Camille: An Interview with Johnny Depp’s Lawyer Camille Vasquez


by Rebecca Blackwell

Camille Vasquez, a young lawyer at Brown Rudnick, sat down with Best Lawyers CEO Phillip Greer to talk about her distinguished career, recently being named partner and what comes next for her.

Camille Vasquez in office

Announcing the 2022 "Best Law Firms" Rankings


by Best Lawyers

The 2022 “Best Law Firms” publication includes all “Law Firm of the Year” recipients, national and metro Tier 1 ranked firms and editorial from thought leaders in the legal industry.

The 2022 Best Law Firms Awards

All Eyes to the Ones on the Rise


by Rebecca Blackwell

Our 2023 honorees recognized in Best Lawyers: Ones to Watch™ in America tell us more about how their path to law formed, what lead them to their practice areas and how they keep steadfast in their passion to serve others.

Person walking between glass walls towards window

Wage and Overtime Laws for Truck Drivers


by Greg Mansell

For truck drivers nationwide, underpayment and overtime violations are just the beginning of a long list of problems. Below we explore the wages you are entitled to but may not be receiving.

Truck Driver Wage and Overtime Laws in the US

Announcing The Best Lawyers in Australia™ 2023


by Best Lawyers

The results include an elite field of top lawyers and firms from Australia.

The Best Lawyers in Australia™ 2023

Announcing the 2022 Best Lawyers™ in Australia


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing the 2022 Best Lawyers™ in Australi

Announcing the 2022 Best Lawyers in South Africa™


by Best Lawyers

The results include an elite field of top lawyers and firms.

Announcing 2022 Best Lawyers in South Africa