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The comprehensive guide to the world's leading tax firms

Ernst & Young has one of the strongest tax practices in Greece. The practice comprises more than 100 fee earners and is led by Stefanos Mitsios, Anastasia Papadelli and Kostas Stergiou have joined this year from PwC and Nokia Siemens respectively.The ... [more]

Ernst & Young has one of the strongest tax practices in Greece. The practice comprises more than 100 fee earners and is led by Stefanos Mitsios, Anastasia Papadelli and Kostas Stergiou have joined this year from PwC and Nokia Siemens respectively.

The practice has seen a lot of transactional work this year. Spyros Kaminaris and Riana Zanni have been advising a client on the acquisition of a large telecommunications company for €120 million ($173 million). The target had significant historical tax issues and a debt structure which required proper analysis.

Other work this year includes advising a client on the conversion of a joint venture established by two large multinationals in the food industry to a Greek corporate vehicle and advising a listed Greek company on relocating its registered seat and tax residence, making use of EU legislation such as the Cross-Border Mergers Directive.

The practice is also known for its strong relations with the Greek authorities. The group advised on the recent tax law 3943, which introduced a participation exemption system for dividends that Greek corporations receive from other EU companies. Ernst & Young also won Greece Tax Firm of the Year and Greece Transfer Pricing Firm of the Year at International Tax Review's European Tax Awards this year.

The tax team at PwC is led by Mary Psylla and is seen as one of the strongest of the big-four's tax teams in Greece. Vasilis Vizas is recommended by his peers for his corporate tax work and is described by one partner as "an up-and-coming adviser in ... [more]

The tax team at PwC is led by Mary Psylla and is seen as one of the strongest of the big-four's tax teams in Greece. Vasilis Vizas is recommended by his peers for his corporate tax work and is described by one partner as "an up-and-coming adviser in the Greek tax market, who is starting to get the credit he deserves".

The group is structured across five main industries: consumer and industrial product services (CIPS); technology, information, communication and entertainment (TICE); financial services;private equity and other services. Out of these CIPS is the largest group.

The group advises across all areas of tax. There has been more debt restructuring and securitisation work in the last year du e to the problems in Greece's economy. The transfer pricing team is also growing rapidly afterthe legislation in 2009 and this is something that is expected to continue. Antonis Desipris, appointed partner this year, heads this team and is also taking part in the negotiations with the Ministry of Finance over changes to the law.

Most of the team are active in the fields of policy and education. Senior manager, Katerina Savvaidou, was appointed lecturer in the Aristotle University of Thessaloniki this year.

Zepos & Yannopoulos is part of the global Taxand network. The group comprises more than 30 fee earners and is led by Yerassimos Yannopoulos, who is seen as one of the stars in the Greek international tax market. The firm is particularly strong in real ... [more]

Zepos & Yannopoulos is part of the global Taxand network. The group comprises more than 30 fee earners and is led by Yerassimos Yannopoulos, who is seen as one of the stars in the Greek international tax market. The firm is particularly strong in real estate, capital markets, energy and indirect tax work.

This year has also seen an increase in litigation work as the Greek authorities seek to plug the country's deficit. Yannopoulos and his colleagues Spyros Maratos and Alex Karopoulos advised a major consumer healthcare group on its dispute with the Greek authorities over permanent establishment issues. Karopoulos also successfully appealed to the ECJ about Greek VAT law for loss-making companies. This is a case that will not only have implications for the existing client, Alpha TV, but future taxpayers who want to deduct volume discounts when running at a loss.

Other work this year includes advising Chevron Corporation on the restructuring of its Greek business and advising Amadeus alongside the Spanish branch of Taxand on planning the application for a mutual assistance procedure under the Greek-Spanish double tax convention. Other clients the team has worked for this year include Biomerieux, Trafigura, Societe Generale, Nike, Travelport, Atos Origin and Casino Rodos.

Deloitte is possibly the fastest growing tax practice in Greece. Last year the turnover was more than double the previous year's figure. Maria Trakadi heads the group of about 35 fee earners.The group is structured along six main service lines: transfer ... [more]

Deloitte is possibly the fastest growing tax practice in Greece. Last year the turnover was more than double the previous year's figure. Maria Trakadi heads the group of about 35 fee earners.

The group is structured along six main service lines: transfer pricing, global employment services, VAT, business tax, international tax and bookkeeping, which is a new service line this year. Business tax, international tax and transfer pricing form the bulk of their business.

This year Trakadki, Thomas Leventis, Eleftheria Ignatidou and Aliki Niskopoulou worked on the restructuring of the business model of a large pharmaceutical company. This involved regular adjustment of the design to keep up with changes in legislation in Greece. Leventis also worked alongside Trakadi and Kostas Roumpis on the group restructuring of a large telecommunications company, which resulted in savings of €20 million a year.

Other work this year includes structuring of an efficient investment route for an energy company into Turkey. Clients that the practice has worked for include Sara Lee and Janssen.

KPMG's tax practice comprises around 70 people. Each of the professionals tend not to specialise in just one area of tax. Even so, the group is structured across six main areas: corporate tax, indirect tax, transfer pricing, international executive services, ... [more]

KPMG's tax practice comprises around 70 people. Each of the professionals tend not to specialise in just one area of tax. Even so, the group is structured across six main areas: corporate tax, indirect tax, transfer pricing, international executive services, global outsourcing and M&A.

General corporate tax work remains the strongest area, though it has decreased because of the problems in the Greek economy. The practice advised on three major group restructurings for Greek companies and expect work to increase next year if the privatisation of a number of public assets goes ahead.

Advice on audits and disputes has been in more demand this year. The practice successfully advised a client on the applicability of new withholding tax law where it was successfully proved that it was incompatible with EU law. The practice also successfully defended a client during a tax audit from the authorities's questions on the validity of the accounting books.

The practice is particularly strong in the energy, banking and pharmaceutical sectors.

Photopoulos & Associates is the largest law firm in Greece to specialise in tax only. The group is headed by George Photopoulos. Brother Alex Photopoulos left to become a public notary but still does work on an occasional basis. Otherwise, the firm is ... [more]

Photopoulos & Associates is the largest law firm in Greece to specialise in tax only. The group is headed by George Photopoulos. Brother Alex Photopoulos left to become a public notary but still does work on an occasional basis. Otherwise, the firm is unchanged from last year.

The firm's practice is split mainly between litigation and consultingAdvisory work has increased as structuring work has decreased because of Greece's difficulties. Despite this the group has managed to work on some big deals.

Both George and Maria Vrachati are advising a joint venture between Edison, an Italian company, and a Greek public gas company on the Greek-Italian part of an offshore pipeline project. This raises the issue of which country has the right to levy VAT or whether either does for that matter. The matter is before the authorities.

The group also advised Coca-Cola Greece, the guarantor, on the first issuance of Euro Medium Term Notes (EMTNs) since the new regulations were introduced. Both George and Nikos Anastasopoulos also advised a large private Greek hospital about the new VAT rules.

Dryllerakis & Associates has advised on a number of disputes amounting to at least €320 million. As managing senior partner, John Dryllerakis oversees a team of 23 fee earners. Voula Anargyrou and Sophia Grigoradiou, who is a transfer pricing specialist, ... [more]

Dryllerakis & Associates has advised on a number of disputes amounting to at least €320 million. As managing senior partner, John Dryllerakis oversees a team of 23 fee earners. Voula Anargyrou and Sophia Grigoradiou, who is a transfer pricing specialist, are both partners.

The firm's tax practice can be split between litigation and consulting, which . is very broad and covers practically all areas of tax law a business might need advice on. The proportion of litigation work has increased this year after the increasing aggression of the Greek authorities.

The bulk of the firm's clients are long-standing but the increasing pressure of the authorities has seen some new companies hire the firm. It is representing LARCO in a $280 million dispute after a tax audit disallowed hedging expenses on the ground of gambling.

Other disputes include representing Wind Hellas after the liquidation and merger of a company and the losses coming out of it, and Solidus Securities in a matter concerning Greece's strict bookkeeping laws.

Fortsakis, Diakopoulos, Mylonogiannis & Associates's tax practice is led by Theodore Fortsakis, who is praised by his peers as a leading tax litigator.The practice supports the work of the rest of the law firm in a number of different areas, particularly ... [more]

Fortsakis, Diakopoulos, Mylonogiannis & Associates's tax practice is led by Theodore Fortsakis, who is praised by his peers as a leading tax litigator.

The practice supports the work of the rest of the law firm in a number of different areas, particularly corporate and banking. Matters include advising Greek clients on witholding tax refunds after distributions to parent companies in Switzerland, and assisting a client on transfer pricing issues.

Karamanolis & Associates's tax practice is led by founding partner Padazis Karamanolis. The practice focuses mostly on M&A and capital markets.Previous work includes advising a Greek bank on the sale of its treasury shares to a sovereign wealth fund. ... [more]

Karamanolis & Associates's tax practice is led by founding partner Padazis Karamanolis. The practice focuses mostly on M&A and capital markets.

Previous work includes advising a Greek bank on the sale of its treasury shares to a sovereign wealth fund. The firm counts a number of investment firms and banks as clients.

The tax team at Kelemenis & Co is led by Tom Kyriakopoulos and consists of 5 fee earners. The practice provides a wide range of tax advice including M&A, transfer pricing, indirect tax and corporate finance.This year the group has been advising Youtravel.com, ... [more]

The tax team at Kelemenis & Co is led by Tom Kyriakopoulos and consists of 5 fee earners. The practice provides a wide range of tax advice including M&A, transfer pricing, indirect tax and corporate finance.

This year the group has been advising Youtravel.com, an online tourism company, on a broad range of tax issues including indirect tax and transfer pricing issues. The group also advised the group on its cross-border restructuring.

Other work this year includes advising the sportswear manufacturer Champion Europe on the tax implications of various commercial agreements and working with Chevron Hellas Petroleum and Chevron Marine Products on their cross-border restructuring.

TJ Koutalidis has a small tax team of three. The strength of the practice is the close integration between the fee-earners who specialise in different areas. The group is headed by George Naskaris. Nikitas Fortsakis is noted in the market for his litigation ... [more]

TJ Koutalidis has a small tax team of three. The strength of the practice is the close integration between the fee-earners who specialise in different areas. The group is headed by George Naskaris. Nikitas Fortsakis is noted in the market for his litigation work

The firm is working on a deal for a large Greek non-banking group that will pave the way for the securitisation of commercial receivables. The first agreement will be for €300 million. Naskaris worked on a structure for McArthurGlen, which operate designer outlet stores across Europe, that meant that it would be exempt from the Greek real estate tax by use of a Luxembourg vehicle. The firm also advised the Athens Bar on the new VAT rules that abolished the exemption for lawyers.