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The comprehensive guide to the world's leading tax firms

Deloitte's tax practice has increased its client base and number of advisers this year. The group developed a new programme around integrated solutions to optimise clients' cash flow in the tax area. This programme resulted in more cross-service line ... [more]

Deloitte's tax practice has increased its client base and number of advisers this year. The group developed a new programme around integrated solutions to optimise clients' cash flow in the tax area. This programme resulted in more cross-service line tax offerings and significant client wins. In January, the group's Brussels-based European VAT Compliance Centre won the EU VAT compliance outsourcing work of a Swiss headquartered group active in the manufacturing, distribution and retail of top end luxury brands. The team also advised a medical institution attached to a university on the implementation of R&D incentives after Belgium introduced new R&D credits a couple of years ago. This was a non-typical client for the global employer services team, which traditionally advises large multinational companies. Jeroen Lemmens joined the team this year from Toyota. He is now a transfer pricing director. Andre Claes is highly recommended. He is described as "super in the corporate tax field" by one peer.

Two partners joined the Liedekerke team this year taking the total number to 10. Henk Verstraete joined from Freshfields Bruckhaus Deringer and Jean-Michel Degée was promoted after a decade at the firm. Partner Daniel Garabedian remains the most recognisable ... [more]

Two partners joined the Liedekerke team this year taking the total number to 10. Henk Verstraete joined from Freshfields Bruckhaus Deringer and Jean-Michel Degée was promoted after a decade at the firm. Partner Daniel Garabedian remains the most recognisable name in the group. He is recommended by a number of peers, with one competitor calling him "the best you can get, technically speaking". Jacques Malherbe is also mentioned. "He is very smart technically, a great litigator and can litigate in Dutch," one peer said. The firm has advised on an impressive variety of work this year. It was involved in assisting in the reorganisation of several Belgian banks, a transaction valued at more than €10 billion ($14.4 billion). It also advised a Belgian stock listed company on its reorganisation and spin-off of its real estate portfolio. Among the team's litigation successes was a win on behalf of the shareholders of a major listed company involving the tax levied by the Belgian tax authorities on the sale of their shareholding. The amount involved was €200 million ($288.7 million).

Though Linklaters lost partner Thierry Denayer to Stibbe this year, the team is still considered a leader in the market. Head of tax Henk Vanhulle is described as "one of the best" by a partner of a competing firm. Guido De Wit is also recommended by ... [more]

Though Linklaters lost partner Thierry Denayer to Stibbe this year, the team is still considered a leader in the market. Head of tax Henk Vanhulle is described as "one of the best" by a partner of a competing firm. Guido De Wit is also recommended by several peers, with one describing him as "the man for VAT". One client commends the group's "good international network and deep knowledge of taxation", calling them "pragmatic" and "to the point". Ivo Onkelinx is noted for his skill in cross-border transaction tax. Onkelinx is leading a team advising InBev on its $52 billion acquisition of Anheuser-Busch, which will create the global leader in the beer industry and one of the world's top five consumer products companies. Vanhulle is advising Fortis on the transactions that the Fortis group had to enter into to safeguard its operations following the economic downturn. This transaction involved complex issues relating to the transfer of toxic assets, funding through profit participating loans and the impact of currency fluctuations.

Baker & McKenzie's involvement in the Cobelfret case gained a lot of public attention this year and helped the team maintain its high position in the rankings. Widely respected partner Alain Huyghe and his team represented the shipping group before the ... [more]

Baker & McKenzie's involvement in the Cobelfret case gained a lot of public attention this year and helped the team maintain its high position in the rankings. Widely respected partner Alain Huyghe and his team represented the shipping group before the European Court of Justice in a tax litigation involving the incompatibility of the Belgian dividend received deduction rules with EU law. In February the Court found the dividend deduction regime contrary to EU law. This was a landmark case in Belgium, benefiting a lot of Belgian taxpayers. "The Cobelfret case was a big win for them and they deserve kudos for it," said one competitor. The team of 11 lawyers also advised big-name clients such as Hewlett-Packard, Axa and Sun Microsystems over the past 12 months. Partner Philippe Lion and his team advised Deutsche Lufthansa in the €250 million ($359 million) acquisition of a stake in SN Airholding and its subsidiaries, including Brussels Airlines, the main Belgian airline company.

Axel Haelterman continues to lead the tax practice at Freshfields Bruckhaus Deringer. He is highly regarded by both clients and peers and is often referred to as the group's "star". The team's impressive client list features Barclays Capital, Deutsche ... [more]

Axel Haelterman continues to lead the tax practice at Freshfields Bruckhaus Deringer. He is highly regarded by both clients and peers and is often referred to as the group's "star". The team's impressive client list features Barclays Capital, Deutsche Bank and the Flemish government. Haelterman advised UCB, a pharmaceutical company, on the tax structuring regarding the divesture of business lines to GlaxoSmithKline in a deal valued at €600 million ($862 million). As well as the normal M&A tax issues in this deal, Haelterman had to consider new and difficult royalty entitlement transfer issues. The Freshfields Bruckhaus Deringer team has deliberately been shaped "as a small but highly reputed practice", Haelterman said.

Loyens & Loeff's tax group is a multidisciplinary practice offering clients advice on compliance, litigation and indirect taxes. The team is led by Xavier Clarebout who is one of the firm's eight tax partners and 32 lawyers. All tax fields are covered ... [more]

Loyens & Loeff's tax group is a multidisciplinary practice offering clients advice on compliance, litigation and indirect taxes. The team is led by Xavier Clarebout who is one of the firm's eight tax partners and 32 lawyers. All tax fields are covered by dedicated specialists, who are organised into practice groups. They have an international and diverse client list consisting of LVMH Moët Hennessy, Eurotunnel, JP Morgan and Kraft Foods. Deals the group has been involved in this year include advising a listed German-based group on a cross-border debt push-down restructuring, which included the tax ruling on a merger transaction in Belgium, and advising a US-based group on its European restructuring, providing assistance with the implementation.

The head of tax at Allen & Overy has acted for clients in a number of large deals this year. Patrick Smet has advised a Belgium-headquartered portfolio company of a private equity house in the airport sector on its cross-border debt restructuring, including ... [more]

The head of tax at Allen & Overy has acted for clients in a number of large deals this year. Patrick Smet has advised a Belgium-headquartered portfolio company of a private equity house in the airport sector on its cross-border debt restructuring, including multiple debt-for-equity swaps and injection of rescue money. The use of an unprecedented debt restructuring technique, for which tax rulings had to be negotiated, was a novel technique which has become the standard for debt restructurings involving Belgian borrowers. This deal was worth $300 million. Smet is praised by his peers for his work in financial products. The team is also advising SPE, Belgium's second energy producer, on the tax aspects of the acquisition of nuclear plants, in the context of the liberalisation of the Belgian energy market following the Suez/Gaz de France merger. This is the first time that nuclear plants are being sold in Belgium so the tax implications, in particular transfer taxes, were unprecedented. Stéphanie Houx was promoted to counsel this year. Her impressive client list includes the European Parliament, GE and AXA.

Clifford Chance has been involved in a number of important deals this year. Most notably they have been working for a new client, the Flemish government, helping with the work to save the GM/Opel plant in Antwerp, which mostly involved sale and lease ... [more]

Clifford Chance has been involved in a number of important deals this year. Most notably they have been working for a new client, the Flemish government, helping with the work to save the GM/Opel plant in Antwerp, which mostly involved sale and lease back transactions. The tax group focuses a large part of its business on real estate transactions and is highly regarded for its knowledge in this field. This year the team, led by prominent partner Thierry Blockerye, advised Fortis Real Estate in connection with the sale of the Chaussée de la Hulpe 166 building to UBS; AXA on the €100 million ($144 million) acquisition of Blauwe Toren commercial centre in Bruges and Banque Degroof on the creation and structuring of its Real Estate Green fund.

Ernst & Young focuses on working for large Belgian companies and large multinationals listed on the stock exchange. The firm has hired Marc Joostens from PricewaterhouseCoopers into the VAT practice. The general perception is he is the number one specialist ... [more]

Ernst & Young focuses on working for large Belgian companies and large multinationals listed on the stock exchange. The firm has hired Marc Joostens from PricewaterhouseCoopers into the VAT practice. The general perception is he is the number one specialist in e-invoicing, which the head of the tax department, Herwig Joosten, thinks will become "more and more important" in the next couple of years because of an EU directive.

Two hundred tax professionals and 17 partners make up KPMG's tax team. Paul Op de Beeck leads the financial services practice. He works with all the major players in the banking and insurance market. Peter Ackerman leads the firm's indirect tax team, ... [more]

Two hundred tax professionals and 17 partners make up KPMG's tax team. Paul Op de Beeck leads the financial services practice. He works with all the major players in the banking and insurance market. Peter Ackerman leads the firm's indirect tax team, which provides advice on all aspects of VAT, customs duties, excise duties and other indirect taxes. Eminent partner and head of transfer pricing, Dirk Van Stappen, continues to be highly recommended by his peers. He and his team were involved in Belgium's first multilateral advance pricing agreement. The APA related to a financial services group and concerned a profit split method applied to IFRS results of various business lines.

PricewaterhouseCoopers has retained its top reputation this year. The group is even commended by competitors. "PwC is very well represented, particularly in the inbound market. The perception is it is a quality firm," said a partner at another of the ... [more]

PricewaterhouseCoopers has retained its top reputation this year. The group is even commended by competitors. "PwC is very well represented, particularly in the inbound market. The perception is it is a quality firm," said a partner at another of the big-four firms. Partner Frank Dierckx is a prominent figure in the Belgian market. He is recommended by a number of industry players and is described by one as an "excellent guy and very commercial". Transfer pricing specialist Isabel Verlinden is also highly recommended and well respected for her knowledge in the field.

Following the departure of renowned partner Werner Heyvaert, who joined Jones Day this year, Stibbe's tax practice was given a much needed boost with the arrival of Thierry Denayer from Linklaters. Denayer now heads the tax group. It is a team of eight, ... [more]

Following the departure of renowned partner Werner Heyvaert, who joined Jones Day this year, Stibbe's tax practice was given a much needed boost with the arrival of Thierry Denayer from Linklaters. Denayer now heads the tax group. It is a team of eight, with three focusing on tax litigation including court proceedings and the remaining five, Denayer included, providing general corporate tax advice. Wim Panis concentrates mainly on VAT work. They are part of the Alliance network with Herbert Smith and Gleiss Lutz. The team lists the Flemish government, ArcelorMittal, Belgacom and Deutsche Bank among its biggest clients.

Tiberghien is highly respected by a number of its peers. One competitor said the tax boutique "is perceived as a quality firm with a very solid culture and very good brand" while another praised the firm's "strong client base". Bernard Peeters stands ... [more]

Tiberghien is highly respected by a number of its peers. One competitor said the tax boutique "is perceived as a quality firm with a very solid culture and very good brand" while another praised the firm's "strong client base". Bernard Peeters stands out in particular. "He is technically very good," one peer commented. The team's 55 fee earners offer a full range of tax services. The group has acted for a consortium for the largest Belgian PPP (public private partnership) project ever for which it had to obtain new tax rulings for VAT purposes. It also obtained a ruling on the application of the reduced VAT rate for dwellings on behalf of several real estate promoters. Although the reduced rate did not apply to supplies, the practice managed to obtain a reduced VAT rate for real estate promoters.

One industry specialist described Afschrift as "an important name in the Brussels tax market". It is a boutique firm headed by prominent tax lawyer Thierry Afschrift, who is an established name in the market. The team of about 20 lawyers specialises ... [more]

One industry specialist described Afschrift as "an important name in the Brussels tax market". It is a boutique firm headed by prominent tax lawyer Thierry Afschrift, who is an established name in the market. The team of about 20 lawyers specialises mostly in litigation and defending taxpayers in their relationships with the tax administration. Most of their clients are small to mid-sized enterprises.

Dauginet is active in tax litigation and criminal tax matters. Victor Dauginet is highly regarded by peers in transactional firms and often recommended.

Dumon Sablon & Vanheeswijck offers a full range of tax services to mainly domestic clients. Founding partners Johan Dumon, Stefan Sablon and Luc Vanheeswijck lead the 20-strong team. One peer noted the firm "continues to strongly improve".

The tax team at Eubelius specialises in advising both domestic and international clients on the tax aspects of corporate transactions, investments and financial transactions.

New hire Werner Heyvaert has boosted the Jones Day tax team this year. He joined from Stibbe bringing with him a significant client base. Head of the department Howard Liebman continues to be a popular name on the market. He has an impressive client ... [more]

New hire Werner Heyvaert has boosted the Jones Day tax team this year. He joined from Stibbe bringing with him a significant client base. Head of the department Howard Liebman continues to be a popular name on the market. He has an impressive client list which includes Platinum Equity and Fujitsu Consulting. He has been concentrating on significant debt restructurings over the past 12 months.

One partner and two other lawyers make up the tax team at Koan, a new entry this year. The team offers a full range of tax services including transfer pricing advice. The group advised one client in connection with a lobbying campaign against the release ... [more]

One partner and two other lawyers make up the tax team at Koan, a new entry this year. The team offers a full range of tax services including transfer pricing advice. The group advised one client in connection with a lobbying campaign against the release of a bill on taxing gambling and betting games. This was a sensitive issue in the context of tax competition between regions and the federal government. Dirk Bogaerts joined the firm this year from Loyens & Loeff and brings international experience to the team.

Laga lost well respected real estate partner Benoît Nibelle in July. One peer commented that this was "a drawback" for the firm as he was "a good tax partner". Johan Speecke head of the firm's tax litigation department, Frank Vanbiervliet, a planning ... [more]

Laga lost well respected real estate partner Benoît Nibelle in July. One peer commented that this was "a drawback" for the firm as he was "a good tax partner". Johan Speecke head of the firm's tax litigation department, Frank Vanbiervliet, a planning and litigation partner and Tim Wustenberghs, an international tax partner continue to lead the team of eight lawyers which includes two new associates from Deloitte.

Since new entry Mayer Brown launched its tax practice in Belgium in 2007, the group has undertaken a variety of work for clients including Standard Chartered Bank, BNP Paribas Lease Group and Lehman Brothers. The team of three is led by partner Astrid ... [more]

Since new entry Mayer Brown launched its tax practice in Belgium in 2007, the group has undertaken a variety of work for clients including Standard Chartered Bank, BNP Paribas Lease Group and Lehman Brothers. The team of three is led by partner Astrid Pieron. Last year she led the launch of the firm's European Transfer Pricing Centre in Brussels. Among the deals the team has worked on this year was the pan-European structuring, involving Belgium, Luxembourg and Hungary, and organisation of operations of a $500 million master feeder fund and advising on the first cross-border securitisation of consumer loan receivables in Belgium and Germany.

NautaDutilh offers transactional tax advice, VAT, customs and excise support, litigation and compliance services. Jan Werbrouck heads the department. Its client list includes the Belgian State, Fortis Real Estate and Hugo Boss.