Roberto L. Cabañas 

Mr. Cabañas' practice includes tax and tax exemption matters affecting Puerto Rico, U.S. and foreign country corporations and partnerships operating in Puerto Rico, as well as the planning and structuring of real estate, tourism and securities transactions.

He has extensive experience representing clients before Puerto Rico taxing authorities, including negotiating closing agreements and private letter rulings with the Puerto Rico Treasury Department on various tax matters; among others, the structuring and restructuring of Puerto Rico operations, the repatriation of earnings and the taxation of partnerships, trusts and nonresident investors.

Mr. Cabañas served as Special Advisor to the Secretary of the Treasury in connection with the enactment of the Puerto Rico Internal Revenue Code of 1994. He also has extensive experience in the drafting of Puerto Rico tax laws and their regulations, including the Puerto Rico Tourism Development Act of 1993.

Mr. Cabañas was an Adjunct Professor in the School of Business Administration at the University of Puerto Rico from 1990-1994.

From 1995-1997 he was Member of the Board of Directors of the Puerto Rico Society of Certified Public Accountants. He also has served as president of several of its committees.

He regularly lectures on various tax matters, including the Puerto Rico tourism incentives program and partnership and individual taxation. He has published various articles in the tax area, including "La Reforma Contributiva y el Contribuyente Individual", Factum, Colegio de Abogados, Jan. - Mar. 1988, ano 2, No. 1, p. 15 and co-author, 'Highlights of the Amendments to the Income Tax Act', Business Puerto Rico 10, Winter, 1987.

Mr. Cabañas is a Certified Public Accountant.