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Ernst & Young is a key component of the Greek tax market. It remains a highly respected practice, able to support clients across a diverse range of tax issues. Its work covers the entire transaction life cycle, spanning from tax due diligence on potential ... [more]

Ernst & Young is a key component of the Greek tax market. It remains a highly respected practice, able to support clients across a diverse range of tax issues. Its work covers the entire transaction life cycle, spanning from tax due diligence on potential targets and structuring the deal to post-closing transaction implementation.

The practice is led by Stefanos Mitsios, Anastasia Papadelli and Kostas Stergiou. It includes five partners and 145 fee earners.

Based on its strong reputation, the firm is often requested to work with the tax authorities on draft bills. The firm made recommendations on new tax residence rules for individuals, the introduction of the participation exemption system about dividends Greek corporations receive from other EU companies, and the tax certification provided by certified auditors.

Work over the past year includes representing a leading consumer goods group in the first transfer pricing controversy case in Greece. The Ministry of Finance was contemplating a transfer pricing adjustment of several million Euros, the firm was able to change this direction increasing the probability of a ruling of no adjustment.

The transfer pricing group is among the largest in the country and includes professionals with experience gained from big four practices in Germany, UK and Switzerland. The firm's transfer pricing revenue has more than doubled with a 120% increase, mainly driven by transfer pricing documentation and compliance work.

Zepos & Yannopoulos is one of the longest established law firms in Greece. Founded in 1893, it has remained one of the most prominent law firms in the country. It is distinguished for work involving VAT, customs and excise duties and private clients.One ... [more]

Zepos & Yannopoulos is one of the longest established law firms in Greece. Founded in 1893, it has remained one of the most prominent law firms in the country. It is distinguished for work involving VAT, customs and excise duties and private clients.

One client praised the firm for providing excellent advice on a VAT exception request to the Ministry of Finance.

The head of practice is Yerassimos Yannopoulos, who leads a team of six partners and 31 fee earners. The firm focuses on providing legal and tax services to foreign legal entities, financial institutions and individuals with business interests in Greece.

The firm has been active on transactional work as well as assisting clients doing business in Greece and with particular emphasis on real estate, capital markets and finance and energy.

Maria Zoupa advised The American College Of Greece on structuring and implementing a tax efficient arrangement between two not-for-profit organisations for the purpose of combining their educational services offered in Greece. The €16 million ($20 million) deal closed in December 2011.

In a yet unfinished deal, Elina Filippou worked on the drafting of local transfer pricing files of Greek multinationals in compliance with newly introduced Greek transfer pricing documentation rules.

Other work includes advising a number of clients on local transfer pricing documentation requirements and drafting local transfer pricing files. Clients' industries include pharmaceuticals and cosmetics, media and entertainment, food and beverage and IT.

Deloitte has continued to demonstrate growth over the past year, both in people and revenue. The department now includes 87 people and offers a full range of tax services.Clients praise the firm and highlight Dimitris Chrissis and Fotis Tsiagliotis as ... [more]

Deloitte has continued to demonstrate growth over the past year, both in people and revenue. The department now includes 87 people and offers a full range of tax services.

Clients praise the firm and highlight Dimitris Chrissis and Fotis Tsiagliotis as key individuals.

Maria Trakadi leads the department, which is dedicated to transfer pricing, VAT, tax planning, corporate tax and international tax.

Notable work this year includes Eftichia Piligou and Vaios Makrygiannis, who represented a multinational financial institution on a transfer pricing documentation project for a banking group operating in Greece. Thomas Leventis and Konstantinos Roumpis advised a Greek multinational tobacco company in January 2012. The deal involved the reorganisation of a group that operates in 10 jurisdictions in and outside the EU.

Other work led by Leventis includes advising on the optimisation of VAT recovery, resulting from an acquisition of real estate property subject to VAT.

Under the Deloitte academy programme, launched in September 2011, Piligou and Makrygiannis delivered a four-day seminar on transfer pricing planning and documentation, which was attended by approximately 30 CFOs and finance managers of Greek companies.

KPMG has been operating in Greece for 40 years. It offers audit, tax, advisory and bookkeeping services to domestic and international businesses."They are professional, accurate, [with a] good knowledge of issues," says one client, adding: "The only ... [more]

KPMG has been operating in Greece for 40 years. It offers audit, tax, advisory and bookkeeping services to domestic and international businesses.

"They are professional, accurate, [with a] good knowledge of issues," says one client, adding: "The only issue that I would like to mention is their fees. I find these expensive and suggest that [they] could decrease especially [in] this period of finance crisis that applies to Greece."

George Mavraganis, based in Athens, is head of the tax department leading a team of six partners and three fee earners.

With offices in Athens and Thessaloniki, the firm employs around 400 professionals, most with specialised expertise. Energy, pharmaceuticals and food are key sectors for the firm, which has a number of ongoing deals in all three.

Over the past 12 months the firm has been most active in ccorporate taxation and transfer pricing. The firm represented clients on the restructuring of large Greek groups and foreign groups with a presence in Greece.

In a deal still being worked on, Mavraganis and Effie Adamidou are assisting in the preparation of a transfer pricing file for the Greek Public Gas and Energy Company. This is the first time a file is being prepared for a public interest company.

The firm has also represented clients in the energy and pharmaceutical sectors on tax disputes before the Tax Committee of Disputes.

Photopoulos & Associates operates as a specialist tax law firm under the leadership of George Photopoulos. The team includes three partners and four fee earners.The firm is praised by clients and peers alike. One client said: "We especially point out ... [more]

Photopoulos & Associates operates as a specialist tax law firm under the leadership of George Photopoulos. The team includes three partners and four fee earners.

The firm is praised by clients and peers alike. One client said: "We especially point out the solid tax advice we receive by the firm, their quick response to our requests and their experience in complicated tax litigation matters they handle."

John Photopoulos and George Photopoulos are highlighted by clients for their "speed of service and knowledge of subject matter". Photopoulos is also highlighted by peers for his specialist skills in tax controversy.

Photopoulos and Elli Papadimitriou advised a US airline company on the imposition of a special levy on the net profits of the airline operating in Greece. Photopoulos also advised a shipping company on a cash pooling arrangement, income tax and stamp duty issues.

In January 2012, Photopoulos and Maria Vrachati advised on VAT issues relevant to the construction of a gas pipe line connecting Greece and Italy through international waters.

Other work includes the team advising foreign lenders, including a UK credit institution, on the issuance by Maillis of convertible bonds in the context of its debt restructuring programme.

Dryllerakis & Associates is the Greek associate tax office for Baker & McKenzie. The firm advises a number of domestic clients, legal entities and individuals.The tax department includes four partners and three fee earners and is under the leadership ... [more]

Dryllerakis & Associates is the Greek associate tax office for Baker & McKenzie. The firm advises a number of domestic clients, legal entities and individuals.

The tax department includes four partners and three fee earners and is under the leadership of John Dryllerakis.

Clients praise the quality of service they receive from the firm and describe it as well-established and helpful. "We have very good cooperation with Mr Emmanuel Dryllerakis, John Damilakis and John Drylleraki," said one client.

The team conducted tax due diligence in several cases in view of M&A transactions and privatisations over the past 12 months.

Sophia Grigoriadou and Maria Gkoutsiou were active this year in advising NALCO on the preparation of a Greek transfer pricing report for 2010 and 2011. In co-operation with Baker & McKenzie for the parent company file.

In other work, Dryllerakis and Nikolaia-Anna Lepida represented UNISYS on the application of the US-Greece double tax treaty.

The practice is significantly involved in property tax cases. Between 2011 and 2012 it handled 40 cases before the Administrative Court concerning a special exemption granted for properties intended for use during the Olympic Games of 2004.

Koutalidis Law Firm has an established presence in the market and is widely respected by peers and clients. The tax department includes three practitioners and is led by George Naskaris."I use them mostly in banking and finance where I think they are ... [more]

Koutalidis Law Firm has an established presence in the market and is widely respected by peers and clients. The tax department includes three practitioners and is led by George Naskaris.

"I use them mostly in banking and finance where I think they are excellent. They combine technical excellence with hard work, reliability, civility and good humour, collegiality, a can-do attitude and absence of false pride," says one client. "I am very happy with the service provided by this firm and would use them and recommend them again."

The Athens-based team has strong capabilities in all areas of tax including corporate tax, property tax, employment tax, investment funds and securities tax. Nikitas Fortsakis is dedicated to the firm's tax dispute cases.

Significant deals this year include advising Deutsche Bank AG, BNP Paribas and HSBC in relation to their capacity as the dealer-managers in a deal worth about €200 billion. The private sector involvement in the voluntary exchange of privately held Greek state bonds is a condition precedent for the involvement of the IMF, the European Central Bank and the other EU member states in the re-financing of the Greek state debt.

More than half of the firm's client base is foreign and includes international banks and financial institutions, as well as companies engaged in industries, insurances, commercial enterprises.

The tax team at A & K Metaxopoulos and Partners Law Firm consists of three partners and six fee earners and is managed by department head Kriton Metaxopoulos.On corporate tax work, the firm is active on a number of on-going cases advising various Greek ... [more]

The tax team at A & K Metaxopoulos and Partners Law Firm consists of three partners and six fee earners and is managed by department head Kriton Metaxopoulos.

On corporate tax work, the firm is active on a number of on-going cases advising various Greek private clients on the provision of tax immunity in relation to bringing overseas funds into Greece.

Other related work involves Asterios Sysilas and Metaxopoulos representing a client in negotiations and the drafting of contracts connected to the transfer of shares of a UK limited company.

The firm is also active advising a number of clients on income tax, capital gains tax and VAT related matters. Other work includes representing Odeon Cinemas in its negotiations with the Ministry of Finance on the characterisation of technical and after-sales services for equipment imported by Israel. The firm reached a successful outcome where only one out of 10 invoices was treated as subject to royalties.