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Carlos Fernández-Smith


Carlos  Fernández-Smith



Carlos Fernández-Smith joined our Caracas office in 2000. Previously he spent five years at an international law firm that was affiliated with an accounting firm and seven years in the tax department of an international accounting firm.

Mr. Fernández-Smith focuses on tax planning and advisory services, tax due diligence, specifically as applied to corporate reorganizations and acquisitions, international double taxation, service joint ventures and consortia (particularly in the areas of construction and oil and gas), service agreements, retail and distribution, cross-border leasing and financing structures, royalty and technical assistance contracts and international employee assignments. He has also participated in substantial income tax, VAT and municipal tax litigation cases, including the negotiation of settlements.

Mr. Fernández-Smith has been listed as a leading tax advisor in Venezuela by International Tax Review.


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  • Education

    LL.B., Universidad Central de Venezuela, 1988

  • Rankings and recognitions
    • Chambers Latin America, Venezuela 2017: Band 1: Tax (Ranked since 2009 edition)
    • The Legal 500 Latin America, 2016: Tier 1 leading lawyer in Tax (Ranked since 2012 edition)
    • IFLR1000: Energy and Infrastructure: Latin America, 2016 – Leading lawyer in Corporate and Commercial; and Tax ((Ranked since 2013 edition)
  • Speaking engagements
    • “Making the Most of Tax Attributes in the Current Economic Environment,” 4th Annual US Latin American Tax Planning Strategies Conference, Miami, June 2011.
    • “Taxation on Oil and Mining Exploration in the Region,” International Fiscal Association (IFA) Third Latin American Regional Meeting, Bogotá, May 2011.
    • “Evolution of Judicial Precedents on Exchange Gains and Losses and Its Applicability to the Current Exchange Control Framework,” Tax Committee, Venezuelan American Chamber of Commerce and Industry (VenAmCham), Caracas, February 2010.
    • “Resource Taxation: Investor Planning on Nationalization and Other Significant Issues for the Industry,” U.S. Latin American Tax Planning Strategies, Miami, June 2008.
    • “Heavy Oil Fiscal Regimes in Brazil and Venezuela,” 11th Annual Latin Oil & Gas Week Conference 2005, Rio de Janeiro, March 2005.
    • “Venezuela-Canada Double Tax Convention,” Cámara de Comercio Venezolano Canadiense, Caracas, May 2004.
    • “VAT Withholding,” Venezuelan Petroleum Chamber, 2003.
    • “Input of VAT on the Commercialization of Natural Gas in Venezuela,” Venezuelan Association of Gas Processors Forum, 2002.
    • “Royalty and Special Taxes in the Organic Hydrocarbons Law,” New Venezuelan Hydrocarbons Law Seminar, Caracas, 2002
    • “Municipal Double Taxation,” Venezuelan Petroleum Chamber, Caracas, 2001.
  • Memberships and activities

    • International Fiscal Association (IFA)
      • Founding member, Venezuelan chapter
    • International Bar Association
    • Capital District Bar Association
    • Miranda State Bar Association
    • Venezuelan American Chamber of Commerce and Industry (VenAmCham)
      • Tax Committee
    • Asociación Venezolana de Derecho Financiero (ASOVEDEFI)
      • International Tax Committee

  • Publications

    Increase in the Venezuelan tax unit’s value

    Presidential Decree N° 3,393, which authorizes the National Tax Administration (SENIAT) to adjust the value of the tax unit (TU) was published in the Official Gazette No 41,387 dated April 30, 2018, which also contains Administrative Ruling N° SNAT/2018/0028 through which the SENIAT adjusted the value of the tax unit from 500.00 Bs. (bolivars) to 850.00 Bs..

    May 14, 2018

    Venezuela – Adjustment of the Tax Unit Value

    Administrative Ruling N° SNAT/2018/0017 (the Ruling) was published in the Official Gazette of the Bolivarian Republic of Venezuela N° 41,351 dated March 1, 2018, through which the National Tax Authorities (SENIAT) adjusted the value of the tax unit (TU) from 300.00 Bs. (Bolivars) to 500.00 Bs..

    March 13, 2018

  • News