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This Award naming us as the best M&A Tax advisory team in Turkey particularly recognises my team’s performance. We have to thank our clients for their kind appreciation and congratulate ourselves for what we have achieved.
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- Ayhan Üstün, Tax Parter at KPMG in Turkey
The Irish and international tax markets are going through a period of enormous change and companies face huge challenges, and this award reflects the commitment of E&Y and its people to supporting its clients. - Kevin McLoughlin, Head of Tax at Ernst & Young in Ireland
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We are proud to have been the main tax adviser in the largest acquisition transaction recorded in the history of Mexico, in terms of value.
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- Mauricio Hurtado, Lead Tax and Legal Services Partner at PricewaterhouseCoopers in Mexico.
This award represents the recognition of our efforts to meet the needs of our clients (which wouldn’t have been possible without our amazing transfer pricing team) and to structure our firm to be able to answer the challenges of the business environment. - Heinz Peter Hager, Founder and Managing Partner of Hager & Partners.
INTERNATIONAL TAX AWARDS 2013
FOREWORD Welcome to the Acquisition International 2013 Tax Awards The beginning of 2013 sees a dramatically changed global tax environment. The KPMG “”Good, Better, Best: The race to set standards in global tax management” report notes that continuing economic turmoil is putting pressure on companies to reduce costs and on tax authorities to increase revenue, and globalisation continues to spur centralisation of finance, tax and other functions. Political attitudes toward taxation are shifting, with much more focus on civic responsibility and public demands that companies should pay their “fair share” of tax to the jurisdictions where they earn profits. However, despite these challenges, tax professionals are making great strides forward in several key areas. They are engaging their boards and senior executives to set their strategy. They are putting top priority on getting tax compliance right, and they are making progress on centralising and standardising their systems and activities. The Acquisition International Tax Awards celebrate excellence within the financial and legal profession across all areas of expertise. These prestigious international awards recognise tax firms, tax teams and the rising stars of tomorrow for their contribution to client service and for their experience and skills across key practice areas and sectors. In recognition and celebration of these individuals and organisations, Acquisition International is delighted to present our 2013 Tax Awards winners. Our awards recognise leaders in their respective fields and, crucially, are nominated by their clients, their professional relationships and their peers. The winners’ ingenuity and hard work have distinguished them from their competitors and proven them worthy of recognition. Read on to find out who made the cut and what it takes to be an Acquisition International award winner.
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INTERNATIONAL TAX AWARDS 2013 Winners List
And the winners Argentina Ernst & Young Passarella Abogados Australia Corrs Chambers Westgarth
Australian Energy Tax Firm of the Year
Austria Graf & Pitkowitz KPMG KPMG KPMG SchneideR’S Attorney at Law LLP
Austrian Tax Law Firm of the Year Austrian Transfer Pricing Tax Firm of the Year Austrian Corporate Tax Firm of the Year Big Four Tax Team of the Year - Austria Austrian Boutique Tax Firm of the Year
Bangladesh Doulah & Doulah
Tax Law Firm of the Year
Belarus Revera Consulting Group
Belarus Tax Firm of the Year
Belgium De Broeck Van Laere De Witte-Viselé Associates Federal Public Service Finance
Belgian Direct Tax Firm of the Year International Tax Planning Firm of the Year Belgian Import Duty Tax Firm of the Year
Brazil Ernst & Young Ernst & Young
Brazilian Human Capital Tax Firm of the Year Brazilian Transaction Tax Practice of the Year
Bulgaria BOYANOV & Co. Attorneys at Law
Bulgarian M&A Tax Law Firm of the Year
China PwC
Chinese Tax Firm of the Year
Colombia Deloitte Asesores y Consultores Ltda Quiones Cruz Abogados
Colombian Tax Firm of the Year Colombian Corporate Tax Firm of the Year
Congo (Democratic Rep) YAV & ASSOCIATES
Best Tax Team in a Law Firm
Costa Rica Ernst & Young Central America
International Tax Team of the Year
Cyprus Yiallourides & Partners LTD, Chartered Accountants Estonia Casus
Cypriot Tax Consultancy Firm of the Year
Estonian Corporate Tax Firm of the Year
Ethiopia Tameru Wondm Agegnehu Law Office Finland Bardy Rahikkala Law Office Deloitte Deloitte
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KPMG Oy Ab
Argentinean Transfer Pricing Firm of the Year Tax Firm of the Year - Buenos Aires
Ethiopian Tax Firm of the Year Finnish Tax Law Firm of the Year Finnish Indirect Tax Firm of the Year Finnish Human Capital Tax Firm of the Year
KPMG Oy Ab
Finnish M&A Tax Advisory Firm of the Year Finnish Corporate Tax Firm of the Year
France Gide Loyrette Nouel
Overall Tax Law Firm of the Year
Germany Latham & Watkins Oppenhoff & Partner
German Real Estate Tax Firm of the Year German M&A Tax Law Firm of the Year
Greece Koutalidis Law Firm
Greek Tax Law Firm of the Year
Hong Kong Ernst & Young
Country Tax Team of the Year
India Ernst & Young Ernst & Young PwC Singhi Chugh & Kumar, Chartered Accountants Indonesia Deloitte Ernst & Young Page 12
Indian M&A Tax Team of the Year Indian Financial Services Tax Advisory Firm of the Year Big Four Tax Team of the Year Indian Boutique Tax Law Firm of the Year
PB Taxand
Big Four Tax Team of the Year Indonesian Transfer Pricing Firm of the Year Indonesian Boutique Tax Law Firm of the Year Auditors of the Year-Indonesia Page 18 Financial Services Firm of the Year Indonesian International Taxation Firm of the Year Indonesian Transfer Pricing Firm of the Year
Ireland A&L Goodbody Ernst & Young
Irish Transactional Tax Firm of the Year Irish Corporate Tax Firm of the Year
Israel PwC Israel
Israeli M&A Tax Team of the Year
Italy Hager & Partners Nunziante Magrone Studio Musselli
Italian Transfer Pricing Firm of the Year Page 14 Italian Company Law Firm of the Year Italian Fiscal Tax Advisory Firm of the Year
Japan TMI Associates
Japanese Tax Planning Firm of the Year
Korea Samil PwC
Korean Tax Advisory Firm of the Year
Lithuania Motieka & Audzevičius Motieka & Audzevičius
Lithuanian Tax Law Firm of the Year Lithuanian Corporate Tax Firm of the Year
Karim Syah Law Firm KAP Razikun Tarkosunaryo Indonesia MUC Consulting Group Indonesia MUC Global
Luxembourg Bonn Steichen & Partners KPMG Luxembourg
Overall Tax Law Firm of the Year Corporate Tax Compliance Team of the Year
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INTERNATIONAL TAX AWARDS 2013 Winners List
are ... Malaysia Taxand Malaysia
Malaysian Tax Firm of the Year
Malta Fenech & Fenech Advocates Fenech & Fenech Advocates
Best Tax Team in a Law Firm Maltese Tax Law Firm of the Year
Mauritius Banymandhub Boolell Chambers
Commercial Law Firm of the Year
Mexico Arias, Meurinne, Orendain y Rodríguez KPMG Muñoz Manzoy Ocampo, S.C. PwC PwC PwC PwC PwC PwC PwC
Mexican Tax Litigation Law Firm of the Year Page 16 Mexican M&A Tax Team of the Year Mexican Tax Controversy Firm of the Year Best Consultancy Team of the Year Mexican Tax Disputes Firm of the Year Mexican Transfer Pricing Firm of the Year Mexican Direct Tax Firm of the Year Page 10 Mexican Indirect Tax Firm of the Year Customs & Global Trade Firm of the Year International Tax Team of the Year
Moldova ACI Partners Law Office
Moldavan Tax Accounting Firm of the Year
Netherlands PwC
Tanzania Mkono & Co
Tax Disputes Firm of the Year
Dutch Customs & Global Trade Firm of the Year
New Zealand Russell McVeagh
Corporate Tax Firm of the Year
Thailand PwC PwC
Transfer Pricing Firm of the Year - Bangkok Thai Big Four Tax Team of the Year
Norway Advokatfirmaet Grette PwC Norway (Advokatfirmaet PwC)
Norwegian VAT Tax Firm of the Year Big Four Tax Team of the Year
The Netherlands Ernst & Young VMW Taxand
Ducth Corporate Tax Advisory Firm of the Year Dutch Indirect Tax Firm of the Year
Oman Ernst & Young
Tax Advisory Firm of the Year
Panama Ernst & Young Central America PwC
Tax Due Diligence Advisory Firm of the Year Big Four Tax Team of the Year
Peru Pizarro, Botto & Escobar Abogados
Tax Law Firm of the Year
Philippines SyCip Gorres Velayo & Company (Ernst & Young)
Philippine Tax Firm of the Year Philippine Transaction Tax Team of the Year
Poland KPMG
Polish Transfer Pricing Firm of the Year
Portugal AbrantesAdvogados Caiado Guerreiro & Associados Sociedadede Advogados, R.L Ernst & Young Espanha e Associados
Portuguese Boutique Tax Law Firm of the Year Portuguese Transactional Tax Firm of the Year Portuguese Personal Tax Advisory Firm of the Year Portuguese Cross Border Tax Firm of the Year
Velten Partners
Transfer Pricing Firm of the Year
Spain Ernst & Young Abogados Latham & Watkins LLP
Spanish International Tax Team of the Year M&A Tax Planning Firm of the Year
Sweden KPMG
Swedish Country Tax Advisory Firm of the Year
Switzerland Dieter Weber Inter-Tax Consultants Lenz & Staehelin
Swiss Tax Adviser of the Year Swiss Private Wealth Tax Consultancy of the Year Page 22 Swiss Domestic Tax Expert of the Year
Taiwan Deloitte Touche Tohmatsu Eiger Law Ernst & Young Ernst & Young Ernst & Young Ernst & Young
Turkey KPMG in Turkey KPMG in Turkey
Big Four Tax Team of the Year Taiwanese M&A Tax Firm of the Year Taiwanese Transfer Pricing Firm of the Year Taiwanese Tax Controversy Firm of the Year Taiwanese Tax Policy Firm of the Year Taiwanese Human Capital Tax Advisory Firm of the Year
Pekin & Pekin
Turkish M&A Tax Team of the Year Turkish Private Clients Tax Advisory Firm of the Year Best Tax Team in a Law Firm - Turkey
UK Adbell International Ltd - Chartered Atlas Chambers Boodle Hatfield Eversheds LLP Osborne Clarke Corporate Tax Team PricewaterhouseCoopers LLP Simmons & Simmons Slaughter and May Weil Gotshal & Manges
Start Up Tax Advisory Firm of the Year UK Tax Law Chambers of the Year UK Private Client Tax Firm of the Year UK Tax Planning Firm of the Year Best Tax Team in a Law Firm - UK UK Transfer Pricing Firm of the Year UK Structured Tax Law Firm of the Year UK M&A Tax Law Firm of the Year UK Tax Law Firm of the Year
USA Ceteris – a Duff & Phelps Business White & Case
US Transfer Pricing Firm of the Year - Georgia US Tax Law Firm of the Year
Venezuela Ernst & Young NLC ASESORIA
Romania Tax House SRL
Romanian Indirect Tax Firm of the Year
NLC ASESORIA
Singapore Ernst & Young
International Tax Services Firm of the Year
Taxand Venezuela
Page 6 Page 6
Venezuelan Indirect Tax Advisory Firm of the Year Page 20 Venezuelan Private Client Services Firm of the Year Venezuelan Transfer Pricing Firm of the Year Venezuelan Corporate Tax Firm of the Year
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INTERNATIONAL TAX AWARDS 2013
Turkish M&A Tax Team of the Year & Turkish Private Clients Tax Advisory Firm of the Year
KPMG
in Turkey Ayhan Üstün is a Tax Partner at KPMG in Turkey who has been named as KPMG representative in the category of M&A Tax Team of the Year. He leads the Mergers & Acquisitions and International Tax work streams along with the Tax Directors; Mr. Eray Buyuksekban (who has been named as KPMG representative in the category of Turkish Private Clients Tax Advisory firm of the Year) and Ms. Begüm Kitiş. Here Ayhan Üstün discusses the firm, its impressions of 2012 and its reaction to winning the award. Mr Üstün has been working for KPMG since 1997. He has been specialised in M&A and international tax advisory work since 2002. He was promoted to partner in 2010 and has been leading these services lines since then. Mr Üstün stated that KPMG Turkey acknowledges the specific case and requirements of clients in M&A transactions. Therefore, the firm has started to build a dedicated M&A Tax service team starting from 2007 and since 2010 has had a fully-fledged service team dedicated to M&A Tax services including professionals from each level (from assistants to partner and directors). The firm also realises the specific requirements of each industry, and as such has been building sector knowledge within its team, mainly for financial services, energy and private equity investments. “At the M&A tax team we aim to provide insightful advice in every transaction we take place, rather than taking the role of a mere technical tax advisor,” explained Mr Üstün. “We try to think together with our clients throughout an M&A process seeing ourselves as a member of the client’s team.
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“We are happy to see that our approach has been well appreciated by our clients and contributed to the success of KPMG in Turkey. “I have to also add that seniority and continuity is an indistinguishable element of providing high quality services. The individuals make the most of the difference in a professional service company like ours. I am very happy to say that we have managed to retain the key employees in our team over years; without any of them we would never be as successful as we are today.” Commenting on the KMPG Turkey’s reaction to winning the award, Mr Üstün stated that it is very important for the firm to receive client and market feedback to continue doing the right things and identify possible areas for improvement. Therefore, the firm believes very much in the benefit of market surveys and awards to understand how clients and the market perceive it. “Our M&A service group (including financial and tax advisory services) have received awards from other business magazines in this year,” he commented. “But this award naming us as the best M&A Tax advisory team
in Turkey particularly recognises my team’s performance. We have to thank our clients for their kind appreciation and congratulate ourselves for what we have achieved.” While Turkey has been going through a notable economic growth period in 2010 and 2011, Mr Üstün noted that the country also had to struggle with particular macro economical challenges such as current account deficit, unemployment and risk of a potential inflation rise. “The Turkish economy managed to conduct a soft-landing in 2012 with an expected GDP growth rate of 3-4% through the help of economic and fiscal policies adopted by the Turkish government,” he continued. “The notable changes that occurred over the last years includes the adaption of the new Turkish Commercial Code, the introduction of a new and enhanced investment incentive regime, and the specific regulations that have been implemented by the Turkish Government which shows the Government’s willingness to more efficiently use the fiscal policy as part of the economic management of the country (e.g. such laws include for example a new financial
INTERNATIONAL TAX AWARDS 2013
expense restriction provision on debt financing, increase of maturity period required to enjoy exemption from surcharge on cross border financing, increase of VAT rates applicable to residential housing etc).” In the Turkish M&A market, the firm has observed that the shares of foreign investors in the Turkish M&A transactions have fallen below 50% (compared to 74% in 2011 and 60% in 2010). Mr Üstün attributed this mainly to the dominancy of Turkish investors in the on-going privatisation projects. However, excluding the privatisation transactions, the foreign investors’ share in the Turkish M&A market is still above 80%, which confirms that Turkey is still a dominantly inward driven market for M&A activities. Energy, financial services, manufacturing and transportation / logistics were amongst the most active sectors.
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If we look at the Foreign Direct Investment data, we see that Turkey attracted a FDI of approximately US$ 12.5 billion in 2012 which is 30% lower than the FDI in 2011 and almost 45% lower than FDI in
2007 (when Turkey attracted an all-time high FDI of US$ 22 billion),” observed Mr Üstün. “In the meantime, Turkey’s credit rating has been upgraded to an investment grade by the end of 2012, which is expected to help improve the FDI in upcoming years. “If we match the above observations together, we think it is possible to say that Turkey still has a potential to take a greater share of FDI in the following years which will also help to boost the M&A activity in Turkey. In particular, we see a great potential for M&A transactions in the small and medium size companies in the country if the historical problems in this segment (such as unrecorded economic activity, relatively low tax compliance culture and unreliable financial information) could be cured through the help of new commercial law and improvements in the fiscal regulations. “Therefore we also see a great potential for M&A advisory services in the Turkish market for organisations like us who continue invest-
ing in the required resources and knowledge, following the market trends and adopting to the challenging client’s expectations,” he concluded.
Company: KPMG in Turkey Name: Ayhan Üstün Eray Buyuksekban Begüm Kitiş Email: ayhanustun@kpmg.com Web: www.kpmg.com.tr Address: Kavacık Rüzgarlıbahçe Mahallesi, Kavak Sok, No:29 Beykoz 34805 ISTANBUL Telephone: +90 216 681 91 00
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INTERNATIONAL TAX AWARDS 2013
Irish Corporate Tax Firm of the Year
Ernst & Young Kevin McLoughlin, Head of Tax at Ernst & Young Ireland, describes the firm, its achievements and its reaction to winning the award.
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In 2008, Ernst & Young announced the integration of all its 87 Europe, Middle East, India and Africa country practices, including Ireland, into a single operating unit comprising of 3,500 partners, 60,000 employees operating as a single EMEIA unit led by a single executive
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Our global structure and scale in the emerging markets means that our Irish firm can provide advice and assistance to Irish exporters, multinationals and entrepreneurs alike, whenever they need it. Mr McLoughlin stated that the Irish business is vitally important and makes a significant contribution to the development of Ernst & Young’s global business. He added that the firm also continues its unwavering investment in and support of Ireland’s leading entrepreneurs through its highly respected Entrepreneur of the Year (EOY) programme, which has a global footprint. “I believe the best way out of the recession and key to Ireland’s long term economic strength is business-led growth,” he continued. “Entrepreneurs create many of Ireland’s most dynamic and successful companies. We are passionate about helping such high-potential
businesses grow their operations, both in Ireland and overseas.” The firm is delighted to have won the award, and Mr McLoughlin believes that it underlines its position as the market’s adviser of choice.
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The Irish and international tax markets are going through a period of enormous change and companies face huge challenges, and this award reflects the commitment of Ernst & Young and its people to supporting its clients, he commented. Ernst & Young is continuing to grow strongly across all service lines. Mr McLoughlin attributes this growth largely to investment in top talent and significant client wins, stating that this level of growth during a very difficult period economically has been “deeply satisfying and is very much down to the efforts of the team”. He continued: “As a firm we have had a good year in challenging economic times. I am optimistic that we can continue to shape and positively support the future direction of our clients’ strategic agenda, the way that our people work, and the social and business issues that impact on the recovery of the Irish economy through 2013.” Mr McLoughlin describes the international landscape as “very interesting at the moment”, noting that many countries are seeking to raise revenue and cooperating more than ever with a view to reduce what is seen as unacceptable tax planning. At the same time, countries are increasingly competing with tax as a key part of their arsenal to secure mobile investment.
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Within the Tax Practice of Ernst & Young we continue to see a rise in demand for our R&D and Transfer Pricing services,” observed Mr McLoughlin. “Ireland remains a very attractive location for foreign investors and we continue to see strong interest in locating in Ireland to exploit international markets.
“This integration has allowed the Irish practice to service the needs of Ernst & Young’s domestically based and international clients as well as allowing the Irish business to capitalise on continued growth in emerging markets,” he commented.
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Ernst & Young Ireland is a multidisciplinary practice with offices in Belfast, Cork, Dublin, Limerick and Waterford. The tax department is expanding rapidly and its services include: business tax; indirect tax; personal tax; international tax; transaction tax; and human capital.
team. Mr McLoughlin noted that Ernst & Young is the only member of the so-called ‘Big 4’ to have accomplished this level of integration.
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Mr McLoughlin is a Tax Partner within Ernst & Young and provides tax advisory services to both Irish and overseas multinational companies. During his career in Ernst & Young he has worked on a broad range of clients and projects including cross border planning, acquisitions and disposals, inward investment, mergers, venture capital backed MBOs, making submissions for legislative changes, and tax and EU competition law issues.
Within Ireland our competitiveness is critical to our ability to grow economically, both in terms of our indigenous businesses and international businesses investing in Ireland, he explained.
“The Irish tax system has always been a core element of Ireland’s industrial strategy. Maintaining a low tax environment for business enhances our ability to create employment and punch above our weight in attracting internationally mobile business.” “Much of our focus from a business tax perspective in recent years has been to fend off unwarranted and opportunistic attacks on our 12.5% corporation tax rate. The Government has defended it well, but the debate
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INTERNATIONAL TAX AWARDS 2013
“In accordance with market conditions we have managed our business carefully to ensure we protected our competitive position and ability to grow,” he continued. “Hence, we have broadly maintained the capacity of our business. Our people have been remarkably resilient during this time and have shown great commitment and loyalty. Even during the depths of the recession, productivity remained high and many parts of our business performed exceptionally strongly having quickly adapted to changing market conditions.” The significant changes which occurred in the market place over the last few years have impelled firms to adapt accordingly, observed Mr McLoughlin. He believes that Ireland remains a highly competitive market and to be successful the firm has to continue to deliver real value to its clients at a competitive price.
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As a firm we are becoming increasingly global in relation to our practice which allows us to meet the needs of our clients who are becoming progressively more globally focused. Offering an internationally integrated service allows us to draw upon a large team
of experts to meet our client’s needs across the globe. To support our client needs we run a number of focused tax events and webinars throughout the year which allows our clients to stay up to date on national and international tax changes. Globalisation and underlying demographic trends mean that competition to employ outstanding people is evolving rapidly, according to Mr McLoughlin. He stated that successful companies are adapting to this by building internationally experienced leadership and equipping their people with the skills to lead in the diverse 21st-century workforce.
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We are already proud of our people culture, and we are committed to doing even more,” he enthused. “Our people tell us that our culture of global teaming and our focus on building a better working world make Ernst & Young a great place to build their careers. Our clients tell us that in recent years we have improved the effectiveness of our teams, our relationship building and our provision of high-calibre people.
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Discussing the current market conditions, Mr McLoughlin stated that the downturn was felt across all businesses, including those in professional services. Ernst & Young was no exception and pricing pressures have been significant across its business.
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now needs to focus on how the rest of our tax system stacks up against our competitors.”
“We aspire to have a leading people culture everywhere in the world. Creating a culture that attracts and retains outstanding people and helps them thrive leads to better service for our clients.” In 2013, Ernst & Young Ireland is continuing to focus on its clients and targets, delivering exceptional client service, and giving its people the right opportunities to grow and develop with the firm. It will continue to expand by recruiting across the business in tax, audit,
assurance, transaction and advisory services throughout the year. “We continue to see opportunities to grow by helping our clients through these difficult times and while we anticipate a tough operating environment for the foreseeable future we remain determined to create jobs and invest in senior talent that will help us emerge a strong firm contributing more to Ireland’s success,” added Mr McLoughlin. “Even if the global economy remains the same, Ernst & Young is aiming to grow our business significantly over the next three years. Part of achieving this growth will be to continue our policy of recruiting the best people in the market place.” “The firm will strive to continue to shape and positively support the future direction of our clients’ growth, the way that our people work, and the social and business issues that impact on the growth of the Irish economy,” he concluded.
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Company: Ernst & Young Name: Kevin McLoughlin Email: kevin.mcloughlin@ie.ey.com Web: www.ey.com/ie Address: Harcourt Centre, Harcourt Street, Dublin 2, Ireland Telephone: +353 1 475 0555
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INTERNATIONAL TAX AWARDS 2013
Mexican Direct Tax Firm of the Year
PricewaterhouseCoopers Mauricio Hurtado, Lead Tax and Legal Services Partner at PricewaterhouseCoopers in Mexico, gives Acquisition International some insight into the firm and its accomplishments. Over the last year PwC Mexico has consolidated its reputation as the leading Tax and Legal Services practice in Mexico. The underlying theme to the firm’s strategy is innovation and use of technology. Over the last year PwC was the first to market in launching electronic tools that enable its clients to properly comply with recurrent tax obligations. Also, enabled by the advances in technology by the Customs and Tax authorities, the firm developed specialised tools that allow taxpayers to tightly track their import and export activities records. PwC’s “Saber Fiscal” app,
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available for Android and Apple platforms, was launched during the summer. This application contains all the Mexican Laws and Regulations, with hyperlinks for ease of analysis and a powerful search tool. This allows all tax and law practitioners to carry all the needed literature on their tablets and smartphones. “In terms of innovation, we have successfully matured our Value Chain Transformation practice, counting several major projects in which we help our clients align operation, legal and tax structures to achieve greater profitability and more sustainable growth,”
commented Mr Hurtado. “We have also taken the lead in developing tailored solutions, integrated services, to address the new FATCA requirements and have attained leadership in this arena over the competition.” The firm’s Legal and Government Relations groups have worked together with the Legislative branch of government in analysing Mexico’s tax system and proposing amendments to current laws and regulations to ease the tax compliance process and to clarify otherwise grey areas of interpretation. This cooperation has included representatives of the private sec-
INTERNATIONAL TAX AWARDS 2013
including conversions to low risk Maquiladora manufacturing activities, financing alternatives, risk assessment, assistance relating to optimisation of costs relating to employee service companies, negotiation of advance pricing agreements and mutual agreement procedures. The PwC Mexico tax practice is a leading practice with over 600 fulltime specialists and 65 fulltime partners. Several of the staff and some partners spent a part of their apprenticeship working for the Mexican Tax authority. Mr Hurtado noted that companies are under increasing pressure to optimise operating efficiencies and to bring the global tax rate to a more competitive level while balancing the planning with the need to minimise the risks of taking on contingent tax liabilities as part of global initiatives. “PwC’s clients appreciate the balanced consulting services provided by PwC because they feel that the company is being given the relevant information to understand and support the substance, tax and legal requirements to avoid unnecessary risks, and the client is being provided with practical advice on how to accomplish their individual and corporate goals,” he explained. “Importantly, the global client views PwC as the go-to team to avoid any unnecessary surprises in relation to tax.
tor and, more recently, the transition team for President elect, Enrique Peña Nieto. The firm is also working with several State and Municipal governments in implementing major local tax reforms to better carry their fiscal functions.
Oil and Gas integrated contracts put out for bid by Pemex, the government-owned Mexican oil corporation and advise the majority of the oil drilling companies operating in Mexico.
The firm closely followed the legislative process of all bills involving changes to different laws and promptly provided thorough technical analyses that allow its clients to prepare for the change. The most recent and relevant process involved the Federal Labour law, just approved on 13th November. As part of this effort, the firm has prepared specialised conferences in Mexico’s major markets and launched a number of solutions to assist its clients in assessing their level of risk and identifying the best way forward. Also, in the technical arena, being recognised as leaders in advising in the tax consolidation regime, the firm had major court wins for its clients during this last year.
“We are proud to have been the main tax advisor in the largest acquisition transaction recorded in the history of Mexico, in terms of value.
“In terms of industry, we have become the undisputed leader in advising the Energy and Infrastructure industries,” continued Mr Hurtado. “We have taken the lead in developing tax models for the participants in the first
On the tax consulting side, PwC’s reputation has been long established in being the go-to resource for resolving disputes, structuring and restructuring assistance, the development and implementation of new global operating models,
“Finally we a released the “Paying Taxes 2013 – The Global Picture” publication, the seventh edition of our joint annual report with the World Bank and IFC, which launched globally on Wednesday 21st November, and for which our firm prepared the Mexico analysis.” Mr Hurtado stated that the PricewaterhouseCoopers tax and legal practice in Mexico has been the advisor of choice in Latin America for several years.
“Perhaps one of the most distinguishing features is PwC’s uncompromising commitment to teaming with clients to support them in and being there whenever the need arises in the tax area. In this sense, PwC’s clients know that they have the top firm that will quickly mobilise resources to help resolve problems and provide value to the individual and the multinational group. PwC is the first resource to inform clients about opportunities and potential risks for clients, and the first to provide possible solutions to these problems. “The advantage of the PwC global skill-sets and global network is applied at a local level and yet the individual client receives personalised services founded on consistent and timely delivery of value. The value of PwC’s expertise extends to operating assessments, including benchmarking key costs, and profitability, and analysing industry trends, helping to bring possible tax and non-tax efficiencies to the local business,” he concluded.
Company: PricewaterhouseCoopers S.C. Name: Mauricio Hurtado Email: Mauricio.hurtado@mx.pwc.com Web: www.pwc.com/mx Address: Mariano Escobedo 573, Col. Rincon del Bosque, Mexico, DF, 11580, Mexico Telephone: +52 52636000
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INTERNATIONAL TAX AWARDS 2013
Brazilian Human Capital Tax Firm of the Year
Ernst & Young
Partner Tatiana Ponte is in charge of the Human Capital practice at Ernst & Young South America (SASA), covering 10 countries including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela. Mrs Ponte is also a member of the Ernst & Young Brazil Executive Committee and member of the board of EYU Brazil (Ernst & Young Corporate University). Here, Mrs Ponte gives Acquisition International a detailed look at the firm, and describes its reaction to winning the award.
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Discussing the firm’s reaction to winning award, Mrs Ponte stated that it was glad of the “important recognition”. She attributed the win to years of market practice assisting clients in the process of global mobility, developing the firm’s talents, adding its own value, demonstrating quality and global expertise.
The real reason why our clients voted us is because of the ECS (Excellent Client Service) that our team have rendered. Therefore, this is recognition to each and every one of the 232 professionals from the Brazilian practice. Ernst & Young retains 52% of the market share for expatriates in Brazil; meanwhile, the firm was a leader in growth in 2012 due to its solid client relationships. The firm is contributing to a better working world in Brazil and has been selected to be the exclusive human capital vendor for the Olympic Committee for the 2016 Games. It is also assisting oil & gas companies to bring the necessary specialist foreign labour force to assist with the pre-salt – the significant oil reserves that were found in Brazilian deep waters. Through Ernst & Young Terco services, the firm intends to achieve more clients helping it to retain the confidence of investors, manage risks, strengthen controls and achieve its maximum potential.
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Ernst & Young Terco’s plans include furthering its geographical expansion in Brazil, continued Mrs Ponte.
We have already reached the largest coverage among human capital providers by maintaining practices in six major locations in Brazil: São Paulo, Rio de Janeiro, Campinas, Belo Horizonte, Recife and Porto Alegre. However, we aim to continue this expansion – and the next potential cities being analysed are Curitiba and Salvador, she concluded.
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Mrs Ponte noted: Ernst & Young Terco’s Human Capital team is the only one capable of providing end-to-end services for the complete global mobility life-cycle in Brazil. Our services are divided into five specialised areas: Assignment Services, Labour, Tax Compliance, Immigration, Tax Advisory.
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Human Capital is a sub area of Tax, and offers an end-to-end service to cover the complete life-cycle of expatriates in Brazil and Brazilians abroad, from immigration, tax, labour and social security perspectives in Brazil.
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We strongly believe that this is a result of the efforts that HC Brazil practice has been putting in place to contribute to a better working world in Brazil (as per our vision 2020 purpose), said Mrs Ponte.
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Mrs Ponte is renowned by her peers for being a leader in regional assistance and coordination of Human Capital Global Mobility programs in areas such as tax, labour, social security, immigration, as well as assignment services for Brazilian Top End Accounts and multinationals in Brazil. During March and April each year, she participates in the daily radio show ‘CBN Notícia’, showcased by journalist Roberto Nonato of CBN.
Company: Ernst & Young Terco Name: Tatiana Ponte Email: tatiana.ponte@br.ey.com Web: www.ey.com.br Address: Condomínio São Luiz - Av. Pres. Juscelino Kubitschek, 1830 – Torre III – 7 Andar, Itaim Bibi – 04543-900, SP, Brasil Telephone: +55 11 2573-3288 / +55 11 9 7543-3646
INTERNATIONAL TAX AWARDS 2013
Italian Transfer Pricing Firm of the Year
Hager & Partners Acquisition International speaks to Heinz Peter Hager, founder and Managing Partner of Hager & Partners about its recent accolade Italian Transfer Pricing Firm of the Year.
“Moving forward we strive to be recognised as a tax firm with unmatched experience advising on international tax matters, developing complex global relationships and working alongside our clients.”
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The Win We were very proud and delighted to win Italian Transfer Pricing Firm of the Year. Since its foundation, Hager & Partner has been working as a national and international tax consultancy and corporate auditing firm. In 2011 we decided to develop a team specifically dedicated to transfer pricing
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“We also feel team culture is a key contributing factor to our win, as it aids our professionals to deal with the huge amounts of pressure associated with tax, legal and corporate matters spanning different locations and cultures. For example over the last year we closed a number of important deals involving cross-border restructurings. We were also involved in various real estate transactions in cooperation with two of the major Italian banks, Generali and Banca Intesa, and our results were based on a common sense of team working and a strong confidence in the people.”
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The Market
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We understand that our clients are not interested in legal or tax theory, they need an advisor able to make projects happen and that’s why they come to us, we achieve high standards, coupled with deep professional knowledge.
matters. This award represents the recognition of our efforts to meet the needs of our clients (which wouldn’t have been possible without our amazing transfer pricing team) and to structure our firm to be able to answer to the challenges of the business environment.
The economic downturn has had an impact on many tax law firms in Italy and internationally. Since we provide a client-based service, fluctuations in the global economic environment did not impact on our work. Our corporate culture is based on client loyalty and this allows us to hold out against the adversity of these times. “Transfer pricing is one of the most important challenge for all Italian enterprises (both for large and mid-sized companies). After the introduction of the documentation requirements at the end of 2010, the tax administration has strengthened the focus on in-
tercompany relationships, recent audits scrutinized the business model of the companies that operates in the IT field and assessed a permanent establishment exposure.”
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We perceive an increasing attention and awareness by our clients (especially those that cannot be mentioned as “giants of the market”, but that in the day-to-day business must relate to the complexity of the world economy) in supporting their transfer pricing policies in order to be compliant with the principles provided by the OECD and with local rules.
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The firm offers client-tailored consulting services which combine the needs of both Italian and foreign clients. The firm provides assistance to large multinational groups as well as to small-medium sized enterprises. Heinz Peter Hager comments: “The firm is distinguished not only by the depth of the consultancy services, but also by the experience of managing clients, by establishing long-lasting relationships with them.
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Hager & Partners, founded in 1995, is an independent Italian business advisory and tax consulting firm, with ca. 90 professionals. As a member of Nexia International, it is positioned to offer superior global reach from its offices located in Bolzano, Milan and Rome.
Company: Hager & Partners Name: Heinz Peter Hager Email: heinzpeter.hager@hager-partners.it Web: www.hager-partners.it Address: Via Borgogna 2, 20122 Milan (Italy), Telephone: +39 02/7780711
Mkono & Co
Advocates in Association with
Mkono & Co. is a leading East-African law firm headquartered in Dar es Salaam, Tanzania. Founded in 1977 by the firm’s managing partner, Honourable Nimrod E. Mkono, the firm has gradually developed to become Tanzania’s leading law firm and a prominent corporate, commercial and financial practice in the East-African region. Mkono & Co.’s growth is reflected by the unique and dynamic team of lawyers coming from the US, Europe, India and from all over Africa. The firm has a unique mix of common law and civil law practitioners which is key to its move to the East African and Great Lakes Region. The firm is recognised by international professional directories and has received multiple awards for its legal leadership and quality of services. The firm has been ranked in Tier one by Chambers Global since 2000 and counts several lawyers ranked as leaders in their field.
Head Office: 8th Floor, EXIM Tower, Ghana Avenue. PO Box 4369, Dar Es Salaam, Tanzania
Tel: +255 22 2118789-91, 2194200 & 2114664 Fax: +255 22 2113247 & 2116635
info@mkono.com
www.mkono.com
INTERNATIONAL TAX AWARDS 2013
Mexican Tax Litigation Law Firm of the Year
Arias, Meurinne, Orendain y Rodríguez Arias, Meurinne, Orendain y Rodríguez, Acquisition International’s Mexican Tax Litigation Law Firm of the Year, gives us an overview of the firm and its distinguishing features.
“This firm has had a strong year in the tax field, with sources describing the 16-strong practice as having ‘exceptional capacity, unmatched quality and an ample understanding of the tax market.” “The team is also praised for its creative and confident approach, coupled with its disposition towards negotiation. It advises clients across a range of fields, including automotive, aviation, construction, retail and telecoms.”
The Law Firm’s Tax, Administrative and Constitutional litigation practice, is built around four partners each of whom has at least 20 years of experience in Court and who personally develop and implement the best possible legal strategies in order to increase our Clients possibilities of success. Since we participate in an average of 300 plus highprofile Tax, Administrative and Constitutional cases every year, some of them making even headline news, we have accumulated the experience to deal with the widest array of problems. We make it our business to understand the business of each of our Clients, their goals and needs, tailoring individual solutions for each one of them.
“Partner Pedro Arias Garrido heads the litigation side of the practice and is noted as “a very good litigator, academic yet direct.”
The Law Firm is especially adept at dealing with court cases involving International Tax issues, such as Double Taxation Conventions and national provisions with international effect. The Firm has won recently leading tax cases dealing with tough interpretation issues, such as anti-avoidance provisions set forth in the Income Tax Law, specifically dealing with interest in alleged back to back situations and also a case dealing with the deemed repayment of capital from a Permanent Establishment to its Head Office.
Seasoned partner Ignacio Orendain Kunhardt has joined the firm, bolstering the tax practice with his 30 years of experience.”
Being fully aware of how Courts interpret the Law, we are able to provide the most sound legal counsel on consultation and Tax consequences of business
“Partner Luis Meurinne manages the planning and consultation aspects of the practice. Sources praise his ‘considerable tax knowledge, vast experience and total focus on the client.”
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planning, including counselling before Tax Authorities during audits. Arias, Meurinne, Orendain y Rodríguez is being recognised by Acquisition International as the Mexican Tax Litigation Law Firm of the Year. This award makes each member of our Firm double our commitment to our clients and the purveyance of services of the highest quality.
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In Arias, Meurinne, Orendain y Rodríguez we provide original, straightforward and solid solutions to the most complex litigation and consultation problems regarding Tax, Administrative and Constitutional Law trusted to us by our international and national Clientele. This is what Chambers and Partners expresses of the Firm:
In Arias, Meurinne, Orendain y Rodriguez we create unique solutions, for unique legal problems.
A R I A S, M E U R I N N E, ORENDAIN Y RODRÍGUEZ
Company: Arias, Meurinne, Orendain y Rodriguez Web: www.amyr.com.mx Address: Prol. Paseo de la Reforma 1236, 5° piso, Col. Santa Fe, 05348, México, D.F. Telephone: +52 55 5280 5240
INTERNATIONAL TAX AWARDS 2013
Auditors of the Year – Indonesia
KAP Razikun Tarkosunaryo Dr Muhammad Razikun, CPA, is the founder and managing partner of KAP Razikun Tarkosunaryo (KAP RTS), and the founder of MUC Consulting Group (MUC), a group of business consulting firms which is supported by more than 200 professionals in Jakarta, Surabaya, Balikpapan, and Bali. Here, he gives Acquisition International a detailed look at the firm and describes its reaction to winning the award. Discussing recent trends, Mr Razikun stated that the accountant profession will be emerging due to increasing cross border business growth. “With the plan to prevail the Asean Economic Community in 2015, there will no longer be a business barrier among countries in the Asean,” he observed. “To be able to compete in this circumstance, it is a challenge for every accountant to enhance his competency in the field of accounting and auditing.” While the current market environment can be extremely challenging, Mr Razikun stated that a successful company should be able to adapt to the market conditions. “As regulations are always changing, we always try to update our knowledge by updating regulation and sending our team to join various training and obtain professional certification,” he explained.
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Our profession needs independency where every decision should be made in compliance with the prevailing profession standard. Integrity, competency, objectivity, and independency are some of the professional ethics that we build in the work environment. Standards in communication, grooming, and providing quality services to clients are just some of our efforts in keeping our professionalism.
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“My role is to ensure that the company achieves its objective to be a leading business firm in Indonesia by enhancing ethical value and provide one stop business consulting services with international standards of quality.” KAP RTS is supported by professionals from various fields of expertise. The firm’s team hold various professionals certifications such as certificate of investment consultant from Capital Market Supervisory Agency and Financial Institution (BAPEPAM), Public Accountant from The Indonesian Institute of Public Accountants (IAPI), Certificate in International Financial Reporting and Certificate (IFRS), International Audit from ACCA (Association of Chartered Certified Accountants), London, the global body for accounting professionals, and Certificate of Sarbanes Oxley
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“As a growing company, RTS pays great concern on human resource development and client satisfaction,” continued Mr Razikun. “We always try to enhance our knowledge and to update with latest regulation as well as to provide added value to our clients in providing our services.”
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Our team is a melting pot of overseas and domestic graduates enriched with various professional certifications that enable us to provide full services to companies from the inception to become a sustainable business entity in Indonesia, commented Mr Razikun.
Expert (CSOE) from Sarbanes Oxley Compliance Professionals Association (SOXCPA) USA.
We are pleased to receive the Audit Firm of the Year - Indonesia award as it reflects an international recognition of our efforts to provide quality services to our clients. At the end of 2011, KAP RTS set a target to double the firm within three years. In less than two years the firm has achieved significant growth in its client portfolio and has almost reached its target in terms of number of clients, sector of industries, number of employees and revenue. In 2012, Indonesia fully adopted the implementation of IFRS. Mr Razikun stated that this is a challenge for the firm in terms of updating its knowledge to comply with the new reporting standard. He added that the challenge is now “more interesting”, as Indonesia will also adopt the International Standard Audit (ISA) soon.
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KAP RTS and MUC are member firms of MSI Global Alliance, an international association of independent professional firms, based in London, UK. MSI worldwide membership now extends to over 250 member firms in 100 countries.
“To ensure another successful year in 2013, we are committed to always improve our competence, skill and networking as well as to ensure the client satisfaction. We will continue to perform closing meeting and evaluation at the end of our service to clients.” “We will continue our effort to hold the professional ethics and code of conduct as well as to enhance our professionalism. With all these commitments we believe that our company could reach higher goals in the next three years,” concluded Mr Razikun.
Company: KAP Razikun Tarkosunaryo Web: www.rts.co.id Name: Dr Muhammad Razikun, CPA Email: razikun@mucglobal.com Address: MUC Building 6th floor, Jl TB Simatupang Kav 15 Tanjung Barat Jakarta 12530 Indonesia Telephone: +62 21 788 37 111
INTERNATIONAL TAX AWARDS 2013
Venezuelan Indirect Tax Advisory Firm of the Year
Ernst & Young Venezuela The Current Exchange Control System in Venezuela José Antonio Velázquez M., Country Tax and Legal Managing Partner and María del Carmen Diez B., Senior Lawyer of International Tax Services at Ernst & Young Venezuela, Acquisition International’s Venezuelan Indirect Tax Advisory Firm of the Year, discuss the current exchange control system in the country.
Since January 23, 2003 an exchange control regime has been in force in Venezuela strongly restricting the sale and purchase of foreign currency in the country, which shall be authorized by the Venezuelan Central Bank (BCV), through the official systems created for that purpose. As per February 8, 2013, Venezuelan counted with two official systems for the acquisition of foreign currency at the official exchange rate, namely: (i) the system managed by the National Commission for Administration of Foreign Currency (CADIVI), at a exchange rate of Bs. 4.30, and (ii) the System for Transactions with Foreign Currency Securities (SITME), at a exchange rate of approximately Bs.5.30. However, as a result of the economic measures recently implemented by the Venezuelan government for 2013, the Bolivar was devaluated from Bs. 4.30 to Bs.6.30, and the SITME system was eliminated. SITME was a system through which the government had to negotiate public debt bonds in US dollars traded in Bolivars, meaning that any acquisition of securities in foreign currency or to be settled in foreign currency had to be carried by the BCV through SITME. This process was also carried through financial institutions authorized by the BCV, mainly banks. The system of SITME was the result of the swap market closing and the amendment of the Law on
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Exchange Violations, which extended the limitation of acquisition of foreign currency to securities. In order to supersede the demand formerly covered by SITME, recently the Venezuelan government announced the creation of an alternative system comprised by special bids in dollars, named “SICAD”. Positions awarded during the foreign currency bids would be settled by the BCV, and the exchange rate would be determined by the quotes received during the bids. However, this new system seems to be restricted to importers previously registered in the exchange control registries, for which reason it is unexpected whether such system would cover SITME previous market, which was equivalent to approximately 100 million US dollars per day.
to be registered before SIEX; and (iv) technical assistance or technological service fees, which agreements also require previous registration before SIEX. Approvals by CADIVI are very slow, for dividends and cash repatriation it may take several months, even years; only certain imports, mostly food, medicines and some raw materials, are granted with foreign currency within the time frame. As a result, other mechanisms, which legality may be sustained, have enabled the access to foreign currency, although not at the official exchange rate.
Consequently, CADIVI has been left as the primarily official system available to acquire foreign currency at the official exchange rate, now Bs. 6.30. Still, CADIVI is also restricted to specific cases, such as: (i) dividends and capital repatriation, provided the foreign investment was registered before the Superintendence of Foreign Investment (SIEX); (ii) importation of certain goods and technology (some imports require a Certificate of No Production in Venezuela issued by the competent authorities in the field); (iii) royalties derived from licenses to use trademarks or patents; agreements regarding royalties also need
Company: Ernst & Young Venezuela Web: www.ey.com Name: José Antonio Velázquez M. Email: jose.a.velazquez@ve.ey.com Name: María del Carmen Diez B. Email: maria.diez@ve.ey.com
INTERNATIONAL TAX AWARDS 2013
Swiss Private Wealth Tax Consultancy of the Year
Inter-Tax Consultants
INTER-TAX Consultants is a company dealing with Private Wealth & Corporate Clients. The company is renown by coupling innovative approach & traditional values.
Founder of Inter-Tax, Rok W. Sonnegg is an internationally active Tax Consultant. He is based in Zurich and supervises two other Inter-Tax offices abroad. Rok holds an MBA and UK Financial Planning Certificate. INTER-TAX serves clients not only with tax law but builds on practical experience in private banking and trust law to provide Private Client Management Mandates and Family Office solutions to selected number of clients. Company is practicing international business cases, structuring for Private Equity, Owner Managed Businesses and HNWI’s. Geographically, business cases are not limited to the European Continent. Among others they span from structuring an MBO for New York Investment Fund to providing entry of European Trading Co. on Chinese Market. Rok Weissenwolff Sonnegg is a Board Member of AITC Association of International Tax Consultants. He maintains direct contacts with top-tier professionals around the globe to couple best practice into working solutions.
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In 2011 INTER-TAX was recognised by Financial Monthly as one of 100 Leading Advisors, received Top Tier ranking by Intercontinental Finance Magazine and become a FM 2011 Law Awards winner. Inter-Tax is a member of Tax Consultants Chamber, European Fiscal Confederation in Brussels, SEC Swiss Central Europe Chamber and Manager’s Association. INTER-TAX has he received Dealmakers Award 2012 and Lawyers World Global Award 2012.
Company: INTER-TAX Consultants Name: Rok W. Sonnegg Meglic, MBA Email: info@inter-tax-zurich.ch Web: www.inter-tax-zurich.ch Address: Letzigraben 89, CH 8040 Zürich, Switzerland Telephone: +41 76 236 08 47
INTERNATIONAL TAX AWARDS 2013 Corporate Directory
Company: KPMG Web: www.kpmg.at Address: Porzellangasse 51, 1090 Wien, Austria Name: DDr. Hans Zöchling Telephone: +43 1 313 32 –259 Email: hzoechling@kpmg.at Firm Profile: KPMG is one of the world‘s largest audit and advisory firms and supports you in a professional manner, based on trust, whilst recognising your individual corporate objectives and basic conditions. In close personal cooperation, our employees consolidate their corporate actions irrespective of whether they are dealing with advisory, tax optimisation or the appropriate audit. The focus is always on the successful development of your company, whilst minimising risks, the best possible utilisation of national and international business opportunities, and optimisation of procedures. KPMG thus makes the decisive factors available: decades of experience, professional expertise, fully-qualified employees and global know-how through our comprehensive network of experts. More than 1,000 employees work at the eight KPMG offices in Austria. The strong regional presence of the 60 partners of the KPMG group establishes the best possible proximity to KPMG clients. As a global player, we combine international competencies and carry out large cross-border projects.
Company: Albagli Zaliasnik Attorneys Web: www.az.cl Address: Miraflores 130, 25th Floor, Santiago, Chile Name: Rodrigo Albagli Telephone: +56 2 2 445 6000 Email: ralbagli@az.cl Firm Profile: With 20 years of innovation in legal services, we focus on an efficient legal support in Corporate, Litigation, Tax, Labor, Compliance and IP. We provide strategic consultancy for companies that wish to expand their operations in Chile and Latin America. We represent a large number of Chilean companies which do business abroad, as well as foreign investors who have chosen Chile and Latin American as their business development hub. Our clients are from several industries, including real estate, technology, energy, retail, entertainment, pharmaceutical, banks, telecoms, advertising, food, and professional services. Our Tax Group constitutes a strong professional team, which is able to advice our clients in any kind of tax issues, with a comprehensive perspective that embraces and weighs the multiple dimensions affecting business of a globalized world, in a wide variety of industries and companies of all sizes. We stand out by our innovative vision that enables us to anticipate the challenges and to face them with pragmatism, rendering creative, innovative and opportune solutions, creating value in each one of the services we provide and handing an agile, effective and efficient professional service that is a real contribution to the development of our client’s businesses. This approach, along with the knowledge and commitment of our team, meant that the publication Best Lawyers recognized during 2013 the work of our Tax Group.
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Company: KLA-Koury Lopes Advogados Web: http://www.klalaw.com.br Address: Av. Brigadeiro Faria Lima, 1355, 18° São Paulo SP 01452-919 Telephone: (+55 11) 3799 8100 Email: kla@klalaw.com.br Firm Profile: KLA-Koury Lopes Advogados is a young and energetic firm, established in 2002 by a group of highly qualified ex-partners and associates from some of the largest law firms in Brazil, who decided to join efforts in an innovative project with a new philosophy of rendering legal services. Our goal is to provide our clients with high quality, prompt and efficient services, as required by the timesensitive global economy. KLA’s philosophy is to render complete and differentiated services in the main areas of law, with direct involvement in the client’s activities, through a constant, dynamic and continuous partnership. We want our clients to regard us as part of their team. We foster to establish long-term relationships with our clients, based on mutual knowledge and confidence, and to honor our clients’ trust with professionalism, responsiveness and creativity in a friendly atmosphere. These relationships are our most valuable accomplishments. We have approximately 180 people in São Paulo, including 110-plus fee earners. Our attorneys are bilingual, so we may draft, negotiate, and finalize documents in English. Of KLA’s 26 partners, 16 have LL.M or similar degrees from international universities, 10 have worked for major international law firms (in New York, Chicago, London, Paris, Buenos Aires, and Hong Kong), and 4 are admitted to the New York Bar (3 with full accreditation and 1 as foreign legal consultant). Several of our 90-plus supporting legal staff also attended LL.M or similar courses in international and Brazilian universities.
Company: Hassans Web: www.gibraltarlaw.com Address: 57/63 Line Wall Road, PO Box 199, Gibraltar Name: James Levy Telephone: +350 20079000 Email: business@hassans.gi Firm Profile: Hassans is one of the world’s foremost offshore law firms. We have an old world approach to client service, but a new world approach to business and technology. We have always been professional and pragmatic, analytical and creative, rigorous and open to new ideas. We are trusted advisers to clients both locally and overseas, who seek legal guidance in a fast-moving, multijurisdictional world. Our expertise extends beyond Gibraltar and covers key jurisdictions around the world. Many of our assignments are cross-border and we have considerable knowledge of other key jurisdictions. The extent of our expertise, combined with our worldwide network, gives us the international reach to satisfy our clients’ needs. Key facts: •We are the leading law firm in Gibraltar •We have numerous practice area teams •We employ over 80 fully qualified professionals •Our particular expertise is international tax advice •We are involved in multi-jurisdictional transactions •Our client base is both local and international •We have a mix of private and corporate clients •We are a founding member of TerraLex, the global network of independent law firms
Ernst & You Ernst & You 27 Spyrou K 4003, Mesa P.O.Box 50 3601 Limas Cyprus
Company: Ernst & Young Cyprus Limited Web: www.ey.com Address: Ernst & Young House, 27-29 Spyrou Kyprianou Avenue, Mesa Yitonia 4003 Lemesos, P.O.Box 50123 3601 Limassol, Cyprus Telephone: +35725209999 Email: philippos.raptopoulos@cy.ey.com Firm Profile: Tax Advisory and Compliance Services Managing your tax obligations responsibly and proactively can make a critical difference. Our talented tax professionals provide you with technical knowledge, business experience, consistent methodologies and an unwavering commitment to quality services. Ernst & Young’s range of Tax Advisory and Compliance Services includes: Business Tax Services Business Tax Advisory, Tax Planning, Income Tax compliance, Tax Policy and Controversy, Tax Review, Personal Tax Services, Tax Accounting Services, Tax Performance Advisory Services, Bookkeeping services Transaction Tax Due Diligence Services (Buy and sell side), Structuring Services (Buy and sell side), Contract Review / Advisory Services (Buy and sell side)
Human Capital Global Mobility Advisory, Global Mobility Compliance, Payroll Services Indirect Tax VAT Advisory, VAT Compliance, Customs & International Trade Advisory International Tax Services (ITS) Transfer Pricing Documentation & Advisory, Cross border Corporate Income Tax Advisory, Tax Efficient Supply Chain Management (TESCM)
Company: Arias & Muñoz Web: www.ariaslaw.com Address: Diagonal 6 10-01, zona 10, Centro Gerencial Las Margaritas, Torre II, Oficina 402-B., Guatemala City, Guatemala Name: José Augusto Toledo Telephone: +502 2382 7700 Email: jose.toledo@ariaslaw.com Firm Profile: For more than 70 years, Arias & Muñoz has been at the forefront of the Central American legal market, showcasing excellence in client service, efficiency in their solutions, and helping their communities. Arias & Muñoz has 8 fully integrated offices spanning six countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama. Being a single unit rather than an alliance of firms, clients benefit from having all their regional matters handled from one office and by one contact. By identifying its clients’ particular needs, the Firm provides them with expert advice and effective solutions. Its lawyers are well known in the region’s legal and business environment for their dynamism, can-do attitude and commitment that closes deals. The firm’s goal is to provide the client with fast responses and practical solutions, distinguishing itself in the Central American legal services market by possessing an excellent combination of experience, knowledge and multi-jurisdictional capability.
Tel: +357 2 Fax: +357 2 www.ey.com
INTERNATIONAL TAX AWARDS 2013 Corporate Directory
INTELLECT Company: Economic Laws Practice Web: www.elp-in.com Address: 109, Dalamal Towers A Wing, Nariman Point, Mumbai, 400021, India Name: Rohan Shah Telephone: +91 22 66367000 Email: rohanshah@elp-in.com Firm Profile: Economic Laws Practice is a unique firm specialising in niche areas of law, founded in 2001 by lawyers from diverse fields. The firm specialises in Indirect Taxation, WTO and International Trade Law, Infrastructure and Project Finance, Media, Entertainment law and Corporate Commercial law. It is the only firm in the country with such a diverse and specialised portfolio. ELP integrates a litigation and transaction based tax practice, which comprises both direct and indirect tax. This combination gives the firm and its clients an edge in its transactional matters and advisory work. Significant transactions: • Providing Transfer Pricing and Customs advisory services to the world’s largest liquor manufacturer; • Formulated and implemented tax optimisation initiatives for leading Indian and multinational entities in various sectors. Key Clients: Tata Group; Vedanta Group; Diageo; Adani Group; Aditya Birla Group; GMR Group; ICIC Bank; JetAirways; Philips Electronics; Microsoft; Sun Microsystems; Xerox; Google; Singtel; Oracle; Juniper; Vodafone.
Company: Ernst & Young Mancera Web: www.ey.com/mx Address: Ejército Nacional 843-B, Col.Granada, 11520, México D.F. Name: Jorge E. Castellon Telephone: +52 55 5283 8671 Email: jorge.castellon@ey.com Name: Manuel Solano Telephone: +52 55 11016437 / +2127738114 Email: manuel.solano@ey.com Firm Profile: Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
Company: Surana & Surana International Attorneys Web: www.lawindia.com Address: International Law Centre, 61-63 Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004. INDIA Name: Dr. Vinod Surana Telephone: +91-98844 91000 Email: vs@lawindia.com
Company: Pirola Pennuto Zei & Associati Web: www.pirolapennutozei.it Address: Via Vittor Pisani, 20, 20124 Milan - Italy Name: Massimo Di Terlizzi Telephone: +39 02 669951 Email: massimo.diterlizzi@studiopirola.com
Firm Profile: Dedication to quick relief & success through practical commercial – legal solutions for its clients and being “Able, available & affordable”, makes clients and industry recommend this firm as the “first choice” for legal assistance in South India.
Firm Profile: Pirola Pennuto Zei & Associati advises medium and largesized companies and multinational groups domestically and abroad. The representation of foreign clients both in Italy and internationally constitutes a significant part of the firm’s practice.
Areas of practice: Arbitration | Contracts | Corporate | Intellectual properties | Litigation | Mergers and acquisition | Real Estate | Securities |Tax Awards / Accreditations: - International Financial Law Review’s 2010, 2011 & 2012 “Law firm of the year”. - Ranked among the top law firms in India by Chambers Asia, Asia Pacific Legal 500 etc. - International Star Award for Quality Management - SA 8000 Social Accountability, ISO 9001 Quality Assurance & ISO 14001 Environmental Protection Key Clients: Hyundai Group (Korea); Nissan Group (Japan); Renault Group (France); Ducati (Italy); Haier (China); Nippon Steel (Japan); Perfetti (Italy); Merrill (USA); Freudenberg (Germany); Dorma (Germany); Allison Transmission (USA); Chennai Metro Railway.
Ernst & Young Cyprus Limited Ernst & Young House 27 Spyrou Kyprianou Ave. 4003, Mesa Geitonia P.O.Box 5013 3601 Limassol Cyprus
The firm has nine offices in Italy (Milan, Rome, Turin, Padua, Bologna, Brescia, Naples, Verona, Parma), one in London and one in Beijing and acts independently with more than 350 tax consultants and 150 lawyers as well as with world-wide correspondents.
ATLAS
ta x l aw y e r s fiscalisten
Ortiz, Sosa, Ysusi y Cía., S.C. Tel:Company: +357 25209999 Fax:Web: +357 www.osy.com.mx 25209998/97/95 www.ey.com Address: Prol. Paseo de la Reforma No. 1015, Punta Santa Fe, Torre A Piso 18, Col. Desarrollo Santa Fe, 01376 México, D.F. Telephone: + (52) 55 1084 7000
Firm Profile: Ortiz, Sosa, Ysusi y Cía., S.C. is a firm specialized in tax consulting and litigation, founded by Miguel Ortiz Aguilar, Ignacio Sosa Lopez and Julio Alberto Ysusi Farfán, Certified Public Accountants. OSY’s solid expertise and background enables it to successfully embrace the most important challenge in the fiscal area: to provide personalized and reliable services to our clients, assisting them with their most important projects and objectives. OSY’s approach is founded on professionalism and the commitment to serve a society eager to take advantage of the specialization and creativity that experts in the field have to offer. This has generated a high level of expectations from the national and multinational corporations established in Mexico. OSY is also a member firm of the LATAXNET, a network of advisors composed of Latin American, Caribbean, U.S. and Canadian tax and legal firms.
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The firm’s services cover tax and legal matters: domestic and international tax compliance and planning, transfer pricing, VAT, tax, legal and regulatory advisory services to companies in the banking and financial services sector, tax assistance for expatriates and individuals, IT law and copyright, labour law, business law, M&A, private equity, tax litigation, litigation, antitrust/European law, media entertainment and telecommunications, energy and environmental law, real estate, privacy and information protection, as well as corporate finance services.
Contact Partners: Tax Consulting Miguel Ortiz Aguilar Ignacio Sosa López Jorge Salles-Berges S. Juan Alberto Torres Romero
Contact Email mortiz@osy.com.mx isosa@osy.com.mx salles@osy.com.mx atorres@osy.com.mx
Tax Litigation Luis Curiel Piña
Contact Email lcuriel@osy.com.mx
Company: Atlas Fiscalisten N.V. Web: www.atlas-tax.com Address: PO Box 3336 1001 AC Amsterdam The Netherlands Name: Bas Leensma Telephone: +31 20 535 4563 Email: Bas.Leensma@atlas-tax.nl Name: Ivo Kuipers Telephone: +31 20 535 4562 Email: Ivo.Kuipers@atlas-tax.nl Firm Profile: Atlas is an independent tax boutique that offers the full range of tax services, with a strong focus on international taxation. We believe in a multi-niche practice whereby we strive for excellence at all levels of the firm. Our expertise encompasses inter alia structuring, cross border tax planning and M&A. With our solid expertise and background, combined with in-depth knowledge of the market, we offer reliable and tailor-made solutions for multinational companies. We are proud to be regarded as reliable and high quality alternative for the established bigger advisory firms, both as advisor and employer.
INTERNATIONAL TAX AWARDS 2013 Corporate Directory
Company: KPMG New Zealand Web: www.kpmg.co.nz Address: 18 Viaduct Harbour Avenue, Auckland 1140, New Zealand Name: Kim Jarrett, Partner Telephone: +64 9 363 3532 Email: kmjarrett@kpmg.co.nz Firm Profile: KPMG operates as an international network of member firms offering Audit, Tax and Advisory services. KPMG in New Zealand operates nationally across five offices with over 800 professionals. Our strong reputation is built on a long history of independence, integrity and objectivity. Our local knowledge and the technical and industry knowledge of our global network gives us a deep understanding of our clients’ businesses. This knowledge enables us to deliver informed and timely advice to help our clients mitigate risks and grasp opportunities. KPMG NZ’s clients include business corporations, government departments and public sector agencies. These clients look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge. Our people embrace KPMG’s values. These values determine how we interact with clients, with each other and with the world around us. They define what we stand for and how we do things. At KPMG we try to create sustainable, long-term economic growth, not just for our clients but for the broader society, too. We seek to be a good corporate citizen, making a real difference to our local communities.
Company: Alvarado & Asociados Web: www.alvaradoyasociados.com.ni Address: Planes de Altamira III Etapa, Semáforos ENITEL Villa Fontana 2 C. al Este, 2 ½ C. al Norte, Managua, Nicaragua Name: Jose Anibal Olivas Cajina Telephone: +505 2278 7708 Email: jaolivas@alvaradoyasociados.com.ni Firm Profile: Alvarado y Asociados, founded in 1990, is one of the oldest and largest law firms in Nicaragua. Through our professional experience, we have learned to understand how our clients do business and the nature of their business, taking into consideration the different cultures, as well as our client’s business needs and expectations. We assist clients on the full spectrum of tax laws. Our tax practice provides thoroughly considered and legally sound transactional tax advice to local and international financial institutions, corporates and individuals. The tax practice aims to combine its commercial and tax law expertise to provide efficient tax solutions. We work closely with the rest of the firm to ensure that the tax aspects of any transaction are thoroughly considered and planned. We regularly act on some of Nicaraguan’s leading transactions, including mergers and acquisitions, restructures and capital raisings, cross-border financing, and project and structured financing. We are also fully equipped to support clients in tax disputes.
Company: BESPOKE Corporate & Fiduciary Services Limited Address: 1st Floor, Financial Centre, P O Box CP5337, Castries, St Lucia, WI Name: Thaddeus M. Antoine; Andrea St Rose Telephone: +758 453 2000 Email: tmantoine@fachambers.com; stroseg@yahoo.com
Firm Profile: Anderson Anderson & Brown LLP (AAB) is one of the leading independent firms of Chartered Accountants in Scotland. With an emphasis on teamwork, the partners and staff are dedicated to forming constructive, long term, professional relationships with clients.
Firm Profile: BESPOKE Corporate & Fiduciary Services Limited is a Registered Agent in Saint Lucia, providing a wide range of services to both the international and the local business community.
Our tax team of 71 enables us to draw a wealth of experience and expertise for the benefit of our clients. We also have access to affiliate firms within the Crowe International and TIAG networks which further expands the knowledge available to us globally. Based in Aberdeen, our experienced team can assist in every aspect of taxation including payroll support, corporate tax and VAT compliance and planning, international tax structures, expatriate tax programmes, employment taxes, trusts and private client and wealth planning. AAB is the ultimate ‘one-stop shop’ for all taxation requirements.
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Firm Profile: Navarro Amper & Co. is recognized as one of the leading professional services firms in the Philippines, providing audit, tax, risk, financial advisory, and finance and accounting outsourcing activities. Navarro Amper & Co. is a member of Deloitte Southeast Asia Ltd – a member of Deloitte Touche Tohmatsu Limited composed of individual practices operating in Brunei, Guam, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam which was organized to deliver measurable value to the particular demands of increasing intra-regional and fast growing companies and enterprises.
The members of our tax practice regularly contribute to publications and write articles on developing tax law.
Company: Anderson Anderson & Brown LLP, Chartered Accountants Web: www.aab.co.uk Address: 9 Queens Road, Aberdeen, AB15 4YL Name: Gill Pryde, Partner Telephone: +44 1224 625111 Email: gill.pryde@aab.co.uk
AAB provides all clients with an exceptional level of service through an extensive knowledge base, a progressive approach and innovative thinking.
Company: Deloitte Web: www.deloitte.com/ph Address: 19th Floor Net Lima Plaza 5th Avenue corner 26th Street Bonifacio Global City, Taguig City1634 Philippines Name: Richard R. Lapres Telephone: +63 2 581 9044 Email: rlapres@deloitte.com
The company is led by a team of professionals that comprises attorneys -at -law, chartered accountants, chartered corporate secretaries and financial consultants. We are therefore well placed to provide a wide range of services to our clients; including incorporation and registration of international business companies, international banks, private banks and international insurance companies. We also offer corporate secretarial services to our clients. Through our affiliated entities we offer legal, corporate and individual tax planning, financial advisory, directorship, audit, accounting and fraud investigation services, making us a “one-stop shop” for companies wishing to do business in St. Lucia. At Bespoke, we are customer centered and differentiate ourselves in the quality of our service delivery to our clients. We make every effort to tailor our services to meet the needs of our clients.
Company: Deep & Far Attorneys-at-Law Web: : www.deepnfar.com.tw Address: 13th Floor, 27, Sec. 3, Chung San N. Road, Taipei, Taiwan Name: Ming-Yen Lin Telephone: + 886-2-25856688 Email: email@deepnfar.com.tw Firm Profile: Deep & Far attorneys-at-law was founded in 1992 and is dealing with all phases of laws with a focus on the practice in separate or in combination of all aspects of intellectual property rights (IPRs) including patents, trademarks, copyrights, trade secrets, unfair competition, and/or licensing, counseling, litigation and/or transaction thereof. The patent attorneys and patent engineers in Deep & Far normally hold outstanding and advanced degrees and are generally graduated from the top five universities in this country. Our prominent staffs are dedicated to provide the best quality service in IPRs in this country. As a proof, about one half of top 100 incorporations in this country have experiences of seeking patented their techniques, but more than one fifth of the top 100 incorporations has ever used services of this firm. Furthermore, Hi-Tech companies in the science-based industrial park located at Hsin Chu had ever played the most important role in booming the economy of this country.
INTERNATIONAL TAX AWARDS 2013 Corporate Directory
Company: 3PB Barristers Web: www.3pb.co.uk Address: 3 Paper Buildings Temple London EC4Y 7EU Name: David Phillips Telephone: +20 7583 8055 Email: david.phillips@3pb.co.uk Firm Profile: 3PB Barristers is one of the oldest sets in the UK. There are over 160 barristers, including 10 Silks. Based in the Temple, London, we have established annexes in Bristol, Bournemouth, Oxford and Winchester. We offer expertise in a wide range of legal practice areas, including business and commercial law, property, employment, construction and technology. 3PB Barrister’s Asset and Tax Recovery Group offers a wealth of experience. With over 20 specialist barristers, ranging from juniors to silks, members of the Group appear regularly in the Tax Tribunals and Appellate Courts. Members regularly advise on all aspects of indirect tax. Clients include; private individuals, companies, solicitors firms, financial institutions, accountants, insolvency practitioners, tax advisers and HMRC. Our friendly and professional clerks are always available to advise on the expertise and availability of barristers for each case.
Company: DFDL Web: www.dfdl.com Address: 61 Robinson Road, #12-03 Robinson Centre SINGAPORE 068893 Name: Jack Sheehan Telephone: +65 6325 0580 Email: info@dfdl.com Firm Profile: DFDL is the first leading international law firm specialized in emerging markets with a pan regional legal and tax expertise developed throughout the Mekong region (Cambodia, Lao PDR, Thailand, Myanmar, Vietnam), Bangladesh, Indonesia and Singapore, and with a dedicated focus on other Southeast Asia jurisdictions, South Asia and the Middle East. With a team of over 250 foreign and local lawyers, advisers and support staff working closely together within a fast growing network of 11 offices in Asia, we provide personalized and cost-effective legal, tax and consulting services and solutions with particular expertise in: l Energy and Infrastructure l Real Estate and Construction l Taxation and Customs l Corporate and Commercial l Mergers and Acquisitions l English law governed transactions Founded in 1994, DFDL has acquired an outstanding reputation in providing seamlessly integrated and solution-oriented legal and tax services to establish, structure and protect our client’s business interests. DFDL is also actively involved, in tandem with local jurisdiction stakeholders, in developing the legal and regulatory environment of the emerging markets in which we operate. Our experts are committed to provide international standards state of the art legal and tax solutions though the Mekong region and beyond
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Company: DLA Piper LLP Web: www.dlapiper.com Address: 2000 University Avenue, East Palo Alto, California, 94303 Name: David Colker Telephone: +1 650 833 2000 Email: david.colker@dlapiper.com Firm Profile: With more than 300 tax lawyers and economists in offices throughout Europe, Asia and the United States, DLA Piper’s global tax advisory services help tax departments of multinational companies address the complex challenges of international commerce and business operations. Our global tax group also assists clients in structuring a wide range of transactions, from private equity deals to corporate acquisitions and disposals. We provide these tax services across our global platform, while at the same time offering clients the benefits of the lawyer-client and work-product privileges. Our tax lawyers draw upon the experience of colleagues in numerous areas of law, including intellectual property, corporate and finance, real estate, employment and employee benefits. In addition, DLA Piper’s practices in such areas as regulatory and EU competition, public affairs and government affairs further strengthen the capabilities of our tax practitioners, resulting in fully integrated advice to our clients.
Company: US Tax & Financial Services Web: : ustaxfs.com Telephone: +44 20 7357 8220 Email: tax@ustaxfs.com Firm Profile: At US Tax & Financial Services we deal with individual, partnership, corporate, trusts and estate tax affairs for anyone subjected to the US tax systems, wherever they may be in the world. We also do UK tax compliance, along with LDF (Liechtenstein Disclosure Facility) and UK Swiss (Rubik) disclosures. With more than 26 years experience, we have offices in London, Zurich, Geneva and Tel Aviv, bringing expertise from KPMG, Ernst & Young, Arthur Andersen, PwC and Deloitte across a wide range of sectors. Whether an expat living outside the US or an American investing offshore, our specialist team of cross border advisors can offer you tax advice, guidance, planning and compliance (tax return preparation) services. The international aspects of the US tax system are extremely complex; not only are the statutes and regulations alien to US-based firms, but the additional informational returns relating to almost all aspects of an expat’s international lifestyle are complicated and carry stiff penalties if not filed correctly. Many of us here at US Tax & Financial are dual nationals and our offices are outside the US. We live and work here with these international issues daily.