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Deloitte has possibly the fastest growing tax practice in Romania. Partner Dan Badin, who has joined this year from PwC, is mentioned by his peers as a leader in the field of corporate tax. He is one of a number of hires this year and the practice now ... [more]

Deloitte has possibly the fastest growing tax practice in Romania. Partner Dan Badin, who has joined this year from PwC, is mentioned by his peers as a leader in the field of corporate tax. He is one of a number of hires this year and the practice now consists of about 85 practitioners. Peter Wessel is also mentioned as a leading indirect tax specialist. The tax team is headed by Alexandru Reff.

The practice, which is split between the firm's three offices in Bucharest, Timisoara and Cluj-Napoca, serves clients across four main specialised service lines: global employer services, transfer pricing, indirect tax and corporate tax. Out of those areas indirect tax has been the real growth area over the last year with revenue increasing by 32%.

This year Wessel advised a client about obtaining a binding ruling from the Ministry of Finance on VAT treatment to do with the VAT treatment of outsourced operations back to January 2007. The opinion led to significant savings for the client.

Other work this year includes advising a client on the legality of the mandatory contribution to the Special Fund for Oil products under EU law, and assisting a Romanian bank on the wind-up of non-Romanian business operations. This decision triggered a significant tax leakage but through careful structuring the practice was able to save the client around $10 million.

The practice advises domestic and multinational clients, including many of the top 500 Romanian companies. The practice's specialist team for the energy sector has seen noticeable growth this year, especially regarding the tax implications of economic exclusive zones.

Ernst & Young's tax team is headed by Venkatesh Srinivasan. The team consists of about 80 tax professionals including five partners and 25 senior managers. Alexander Milcev is frequently mentioned as a leading transfer pricing and international tax practitioner ... [more]

Ernst & Young's tax team is headed by Venkatesh Srinivasan. The team consists of about 80 tax professionals including five partners and 25 senior managers. Alexander Milcev is frequently mentioned as a leading transfer pricing and international tax practitioner . He drew up the VAT part of the Romanian fiscal code that came into being in 2007.

About 60% of the practice's work is self-generated. The group is structured along six main service lines: Srinivasan heads the transaction tax, human capital and business tax teams; Milcev is head of international tax services and transfer pricing and the indirect tax and legal services teams are led by Jean-Marc Cambien and Eirinikos Platis respectively.

The practice has seen plenty of restructuring and compliance work this year as the Romanian market recovers from the recession. The advisers worked on the restructuring of a big manufacturing company into a toll manufacturing company to reduce its tax burden and also on the centralisation of the treasury functions of a big bank outside Romania.

Around 80% of the group's clients are multinationals. The group has particular strength in the real estate, energy, consumer goods, retail and telecommunications sectors.

PwC is viewed by some of the market as the strongest tax firm in Romania. However, while the practice attracts comments such as: "PwC is the leader. It has always been the leader since the collapse of Andersen," and "They are definitely number one in ... [more]

PwC is viewed by some of the market as the strongest tax firm in Romania. However, while the practice attracts comments such as: "PwC is the leader. It has always been the leader since the collapse of Andersen," and "They are definitely number one in terms of reputation", there were not enough to put them in their own tier above Deloitte and Ernst & Young.

The practice is led by Peter de Ruiter, who has experience of working in both the Netherlands and Poland. He leads a team of more than 200 practitioners, the largest of all firms in Romania.

The practice is structured across four main areas of tax: corporate tax, which includes everything from tax structuring and planning to M&A; indirect tax, mostly VAT but also customs; individual income tax and human resources services which includes human resources management and payroll processing; and legal services, through their correspondent law firm, D&B David Si Baias, where the team is led by Sorin David.

A number of the professionals are picked out as leading practitioners. Mihaela Mitroi is singled out for corporate tax and cross-border structuring and is described as a "big name in the market". Ionut Simion is also mentioned for corporate tax and cross-border structuring as well as transfer pricing, while Diana Coroaba and Mihaela Craciun are mentioned for M&A and cross-border structuring respectively.

The practice advises clients across all industries but particularly consumer and industrial products, information technology, communications and entertainment, pharmaceutical sector, oil & gas and energy companies, and financial services.

Baker Tilly Klitou is led by tax director Mamas Koutsoyiannis. The team has a strong reputation in structuring and disputes work.The group provides tax structuring advice for a number of clients with international offices. Here, the group is able to ... [more]

Baker Tilly Klitou is led by tax director Mamas Koutsoyiannis. The team has a strong reputation in structuring and disputes work.

The group provides tax structuring advice for a number of clients with international offices. Here, the group is able to leverage off Baker Tilly International's network and has particular experience advising clients on structuring their operations through Cyprus because of Romania's favourable double tax treaty with that jurisdiction.

The group also advises clients on drafting complaints against official decisions and preparing for litigation.

Clients that they have worked for this year include Gardiner Theobold, Starbucks, Gap, Marfin Bank and the Marinopoulos group.

KPMG's tax practice is led by Mark Gibbins, who is particularly strong in the areas of foreign direct investment and also restructuring and M&A. He leads a team of about 100 fee earners.The practice is structured along both tax specialties and also industries. ... [more]

KPMG's tax practice is led by Mark Gibbins, who is particularly strong in the areas of foreign direct investment and also restructuring and M&A. He leads a team of about 100 fee earners.

The practice is structured along both tax specialties and also industries. Some of the service lines offered by the practice include VAT, transfer pricing, international executive services and international corporate tax, while the practice covers all of the key industries but is particularly strong in the financial services and energy sector, though this is more a reflection of the Romanian economy than any niche specialism.

Madalina Racovitan, an indirect taxation specialist, particularly VAT, was appointed partner recently.

The practice has been growing over the last few years, transfer pricing and tax litigation perhaps at a faster rate than other areas. The practice also has a strong bookkeeping and tax compliance service and has noticed more demand for this work too.

The practice serves domestic and international clients. The senior practitioners are active in the market and are members of professional bodies such as the Foreign Investors Council and the American Chamber of Commerce.

Taxhouse is the Romanian member firm of Taxand. The firm was formed in 2006 and is led by Angela Rosca and Cristian Radulescu, two ex-Arthur Andersen professionals. The practice comprises 15 fee earners, nearly all of whom have experience of working ... [more]

Taxhouse is the Romanian member firm of Taxand. The firm was formed in 2006 and is led by Angela Rosca and Cristian Radulescu, two ex-Arthur Andersen professionals. The practice comprises 15 fee earners, nearly all of whom have experience of working for one of the big-four accounting firms .

The team covers all areas of tax including structuring, planning, litigation, transfer pricing and real estate. The bulk of their work is made up of advisory, typically for multinational clients. The indirect tax team is especially strong as both Rosca and Radulescu specialised in this area during their time at Arthur Andersen. Georgiana Trusca was hired as a VAT manager to help grow this area.

Radulescu acted for a large group of insurance companies in their efforts to improve accessibility of damage assessment services to their clients. This had significant VAT implications and led to the implementation for the first time in Romania of an European economic interest grouping under the conditions set out by EU regulations.

The transactional team has also been busy over the last few years. Rosca represented a global bank in an EU cross-border merger. The deal was completed in 2010 and was the first cross-border merger in Romania. Rosca also represented a large telecommunications group active in eastern Europe on an initial public offering on the London Stock Exchange.

Clients that Taxhouse has represented include Citibank, Kraft Foods, Edenred, Vimetco-Alro and Strabag.

Biris Goran Tax Consulting's tax team is led by the highly experienced Gabriel Biris and comprises five practitioners. Biris is viewed highly in the market and has previous experience at both Salans and at Haarmann Hemmelrath before its collapse.The ... [more]

Biris Goran Tax Consulting's tax team is led by the highly experienced Gabriel Biris and comprises five practitioners. Biris is viewed highly in the market and has previous experience at both Salans and at Haarmann Hemmelrath before its collapse.

The practice advises on a variety of different areas including international tax planning, tax structuring, tax due diligence, real estate tax and corporate and indirect tax consulting. The practice regularly work alongside the other teams in the Biris Goran law firm, particularly the finance, real estate and M&A teams.

Clients they have worked for recently includes a major Romanian energy company and also a major company in the property market.

Five professionals from the big-four joined the tax practice of Nestor Nestor Dilescu Kingston Petersen in 2008 and since then the practice has grown at an impressive rate. It now comprises 20 professionals,including two, Sorin Mociofan and Daniela Pepa, ... [more]

Five professionals from the big-four joined the tax practice of Nestor Nestor Dilescu Kingston Petersen in 2008 and since then the practice has grown at an impressive rate. It now comprises 20 professionals,including two, Sorin Mociofan and Daniela Pepa, who were hired to extend the practice to Timisoara.

The practice is led by four partners: Ana-Maria Miron, Alina Timofti, Marius Ionescu and Dragos Doros, who joined in November 2010 from the Ministry of Finance. They provide a range of services including transfer pricing, VAT, corporate tax, tax due diligence and tax compliance. Work this year includes advising Total France against tax authorities regarding tax liabilities of over more than €4 million ($6 million), and also Cummins Germany in relation to a VAT reimbursement of over €7 million.

Other clients they have advised this year include City Gate, Ford Romania, GDF Suez Romania, Philip Morris, Rothschild, OMV Petrom, Enel and Smithfield.

Popovic Nitu & Associatii has the second largest tax practice out of all Romanian law firms. The practice comprises 10 fee earners and is headed jointly by Alexandru Ambrozie, who is also head of the banking and capital markets teams, and Mihaela Pohaci, ... [more]

Popovic Nitu & Associatii has the second largest tax practice out of all Romanian law firms. The practice comprises 10 fee earners and is headed jointly by Alexandru Ambrozie, who is also head of the banking and capital markets teams, and Mihaela Pohaci, who joined recently from Deloitte. M&A and tax litigation "clearly generate the highest income", then it is VAT. This year the team secured a favourable decision in the courts for an affiliate of an international real estate company in a case about certain withholding taxes on interest. The group also advised Autogrill on the structuring of its joint venture with Bucharest International Airport.

Other clients include Auchan, Deutsche Leasing, Franklin Templeton, Global Finance, Hochtief, Innova Capital, Medicover and Lidl. The group has been active in the retail sector over the last year.

Transfer Pricing Services, as its name suggests, is a niche firm. It advises on the design and implementation of transfer pricing policies, including documentation. The practice is headed by the highly-regarded Adrian Luca and comprises six professionals. ... [more]

Transfer Pricing Services, as its name suggests, is a niche firm. It advises on the design and implementation of transfer pricing policies, including documentation. The practice is headed by the highly-regarded Adrian Luca and comprises six professionals. This year Luca and Mihai Lupu advised a Belgian multinational client on the design of its transfer pricing policy and documentation of the arm's-length price. Other work this year includes a transfer pricing risk assessment with significant intellectual property issues and defence of a client with particular issues regarding the licence fees paid by its distribution company.

The practice is viewed as a viable alternative to the big-four for transfer pricing. The firm's strengths, which include making senior fee earners available to clients more often than other providers, were rewarded this year as they won the Central European Transfer Pricing Firm of the Year award at International Tax Review's European Tax Awards in 2011.