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The comprehensive guide to the world's leading tax firms

Ernst & Young has a strong tax team of seven partners and 125 fee earners. The department is under the leadership of Botond Rencz and it welcomed new hire Zoltán Lipták as a senior manager at the end of August 2011.The firm has specialist divisions dedicated ... [more]

Ernst & Young has a strong tax team of seven partners and 125 fee earners. The department is under the leadership of Botond Rencz and it welcomed new hire Zoltán Lipták as a senior manager at the end of August 2011.

The firm has specialist divisions dedicated to business tax, indirect tax, international tax, transaction tax and human capital.

The tax team is respected by peers and clients and continues to dominate the market as a leader in tax services.

Deloitte is among the most prominent firms in the country, it is respected by peers and has high visibility. Peers single out Péter Gémesi for his transfer pricing capabilities and expertise.Deloitte's tax department is headed by Attila Kövesdy who manages ... [more]

Deloitte is among the most prominent firms in the country, it is respected by peers and has high visibility. Peers single out Péter Gémesi for his transfer pricing capabilities and expertise.

Deloitte's tax department is headed by Attila Kövesdy who manages a team of about 70 fee earners.

In late 2011 the firm welcomed a new hire László Szakál, who joined the practice as senior tax partner.

In notable work this year, the firm assisted a multinational group in developing a tax effective structure, as part of the group's business restructuring process that could be used for financing foreign real estate investments. The deal, which was led by Kövesdy and Gémesi, closed in December 2011.

In other work István Veszprémi advised a client, with several real estate special purpose vehicles (SPVs) in its portfolio for the purposes of leasing real estate. The firm was required to recommend a restructuring plan that has minimal tax costs and able to remedy other business issues such as negative equity.

HLB Klient is headed by Lambert Zoltán, who manages a team of three partners and two fee earners.It is a member of the HLB International consultancy network and specialises in tax including planning and compliance.The firm also represents clients in ... [more]

HLB Klient is headed by Lambert Zoltán, who manages a team of three partners and two fee earners.

It is a member of the HLB International consultancy network and specialises in tax including planning and compliance.

The firm also represents clients in their dealings with the tax authorities, assists with the preparation of opinions on more complex issues of tax and preparing and reviewing tax returns in all categories.

Lakatos, Köves and Partners has a distinguished presence in the Hungarian market with more than 15 years experience working as part of Clifford Chance.The firm maintains a best friend's relationship with Clifford Chance after the two split in 2009. The ... [more]

Lakatos, Köves and Partners has a distinguished presence in the Hungarian market with more than 15 years experience working as part of Clifford Chance.

The firm maintains a best friend's relationship with Clifford Chance after the two split in 2009. The firm is led by István Keményfy, who is distinguished for his understanding of cross border taxation issues, VAT and corporate tax.

The practice serves a predominantly foreign client base and has been active on a number of corporate tax matters.

Keményfy led a deal advising on assessing alternative legal forms of merging a newly acquired business into an existing one from a tax planning perspective. The deal required a systematic review of structures looking simultaneously at them from a business, tax and corporate point of view.

In other work the the firm analysed the most tax efficient holding location for a real estate investment. The issue required multijurisdictional analysis and discussion of tax rules affecting holding companies.

The tax department at Faludi Wolf Theiss includes one partner and two fee earners. Although small in size, the team is active on a range of tax matters and well known in the market for its strong leadership.Head of tax Balázs Békés is described by clients ... [more]

The tax department at Faludi Wolf Theiss includes one partner and two fee earners. Although small in size, the team is active on a range of tax matters and well known in the market for its strong leadership.

Head of tax Balázs Békés is described by clients as a valuable resource who is in constant pursuit of achieving the best results for his clients.

One client explains: "I would consider Balazs Bekes a real local tax treasure. He is extremely imaginative, proactive and well trained in many tax considerations of an international structure that go beyond Hungarian tax expertise.

The client added: "His background of having been employed at EU headquarters in Brussels at some time in his past undoubtedly has equipped him with the ability to look beyond the country's borders, a quality we are always looking for when hiring local tax counsel but which we had not anticipated to be available in Hungary in such depth."

Since forming in 2009, the department has become more active in international tax, corporate tax, litigation, and tax structuring and restructuring.

Békés, Balázs Horváth and Erzsébet Varga are assisting Hewlett-Packard Magyarország and Hewlett-Packard Informatika in connection with a transfer of certain business activities and selected transfer pricing issues.

Horvath is also praised by clients who say he provided excellent corporate advice and assistance.

In corporate tax work, the team advised Viacom Group, a leading international entertainment company, in connection with the adjustment of a former restructuring. The deal required a thorough understanding of cross-border tax as well as international M&A matters.

"My prime interest is in the tax technical qualities and creativeness of the providers I hire and their ability to produce tangible benefits to Viacom in applying their talents and knowledge to our structure and business operations. I give Balazs Bekes top rating for accomplishing just that," said a client.

Other notable work includes representing ECE Einkaufs in a tax dispute case. The deal involves challenging the Hungarian tax authority regarding the alleged unlawful reclaim of VAT liabilities.

Kinstellar is a respected market contender and described by peers as having good visibility in the market.Gábor Antal manages the tax department, which includes three fee earners.The firm has been mostly active on transfer pricing, corporate tax and ... [more]

Kinstellar is a respected market contender and described by peers as having good visibility in the market.

Gábor Antal manages the tax department, which includes three fee earners.

The firm has been mostly active on transfer pricing, corporate tax and indirect tax work. In March 2012, the team advised Philips, the Dutch electronic appliances manufacturer, on the cross-border structuring and implementation of a global joint venture agreement in Central and Eastern Europe.

Antal and Ákos Nagy are advising Raben Group, a large logistics provider, on a series of asset purchases in the context of establishing and expanding its Hungarian presence.

In other work the team advised Mars, the leading global food manufacturer, on the VAT consequences of cross-border goods imports and exports.

Orientax Consulting's tax division is under the leadership of Károly Radnai, who manages a team of four fee earners. He is highly praised by a number of clients who single him out along with Zsuzsanna Lőrincz."We are satisfied with the service and impressed ... [more]

Orientax Consulting's tax division is under the leadership of Károly Radnai, who manages a team of four fee earners. He is highly praised by a number of clients who single him out along with Zsuzsanna Lőrincz.

"We are satisfied with the service and impressed by the professional attitude and technical skills of Károly and Zsuzsanna," says one client.

Another client said: "We have been working with OrienTax Consulting since 2010, mainly on state subsidy related issues. The quality of their work and the attitude how they are helping us are both very pleasing. The key individuals delivering the services are Karoly Radnai and Zsuzsanna Lorincz."

Radnai and Péter Kiss advised a Hungarian affiliate of an international company on mapping and the review of transfer pricing documentation. In other work, Radnai and Lőrincz assisted a Hungarian bank with outsourcing its back office functions to a Hungarian company which included the examination of VAT.

The firm specialises in advising clients in the film industry and is involved in advisory work ranging from day-to-day on-call services, to due diligence reviews and group structuring. The firm also advises on personal income tax and has experience in research and development projects, and green tax issues.

The majority of the firm's client base includes Hungarian affiliates of international well known groups, and middle-size Hungarian companies. Clients include Hungarian National Film Fund, Twentieth Century Fox, AGI Hungaria, Invitel, Nike, Mid Atlantic Films, Telenor, Universal Pictures, IBM, Oracle and Magyar Telekom (Deutsche Telekom).

The tax department at Kajtár Takács Hegymegi-Barakonyi Baker & McKenzie is building its reputation in the Hungarian market and gaining visibility. The team is managed by Gergely Riszter who heads a team of two partners and two fee earners."The style ... [more]

The tax department at Kajtár Takács Hegymegi-Barakonyi Baker & McKenzie is building its reputation in the Hungarian market and gaining visibility. The team is managed by Gergely Riszter who heads a team of two partners and two fee earners.

"The style and method of work of Baker&McKenzie is really professional and international, they did their jobs smoothly without any unnecessary questions, meetings, jobs to do. We got clear questions from them to be answered, their method and work is logical and clean," explained one client.

In January 2012, Riszter and Tímea Bodrogi-Szabó were involved in the preparation of transfer pricing documentation for the client's distribution activity performed in Hungary.

"We worked with them on transfer price documentation. They work on the same job with our mother company in France, so they offered them to us. The contract we signed is fair as they take the responsibility for their job in case of, for example, any penalty from tax authority," one client said.

Riszter is advising the subsidiary of one of the largest Hungarian oil and gas companies on the restructuring of its energy trade business.

The tax practice represents clients in a range of tax related issues from the planning of effective tax structures for inbound investment and their implementation, to tax due diligences and advising on financial, real estate and M&A transactions.

Jalsovszky Law Firm is recognised by peers for its corporate tax work. Pál Jalsovszky heads the department and is the firm's only partner. Jalsovszky manages a team of 10 fee earners and is highlighted for his expertise in corporate tax.Jalsovszky and ... [more]

Jalsovszky Law Firm is recognised by peers for its corporate tax work. Pál Jalsovszky heads the department and is the firm's only partner. Jalsovszky manages a team of 10 fee earners and is highlighted for his expertise in corporate tax.

Jalsovszky and Mihály Harcos are advising an international software development company, active in the field of banking services, on the tax-efficient restructuring of the company's international shareholding and operation.

Harcos is one of the firm's key practitioners said clients. "The firm helped us in a complicated tax and legal issue," said one. "They represented us before the Supreme Court against the tax authority. We won this case entirely. The key individual whose name I should mention is Dr Mihály Harcos. He played an essential role to win the case."

In other work, the team advised Sabion Zrt in connection with the VAT aspects of the client's transactions in a VAT reclaim from the tax authority.