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The comprehensive guide to the world's leading tax firms

A growing team has made BMR Advisors - Taxand able to compete with the big four accountancy firms. The firm boasts 250 tax professionals and 18 partners and is part of the Taxand global network of independent tax firms. Such is the firm's rapid expansion, ... [more]

A growing team has made BMR Advisors - Taxand able to compete with the big four accountancy firms. The firm boasts 250 tax professionals and 18 partners and is part of the Taxand global network of independent tax firms. Such is the firm's rapid expansion, that in October 2008 it took over Chennai-based K Ravi Co, a boutique tax firm. With this acquisition came two directors and Ravi K, a well-respected tax litigator. The expansion did not stop there and a further four directors were also brought into the firm.

The firm represented a number of large clients over the past year including a European food company. The company held, through a number of subsidiary companies, equity in an Indian-listed company. This holding was to be divested in favour of the Indian joint-venture partner. The deal was worth in excess of $100 million and involved difficult tax work when assessing the tax exposure in India of the divestment. Representing the firm on this transaction was transfer pricing specialist Mukesh Butani, Anurag Jain and Arijit Prasad. Other clients include Rolls Royce, Shell and Lufthansa.

For the second consecutive year running, Deloitte have poached a significant number of tax professionals from PricewaterhouseCoopers. The firm took 22 transfer pricing specialists from their big four rival, all coming from PwC's transfer pricing centre ... [more]

For the second consecutive year running, Deloitte have poached a significant number of tax professionals from PricewaterhouseCoopers. The firm took 22 transfer pricing specialists from their big four rival, all coming from PwC's transfer pricing centre of excellence. The group was led by Parikshit Datta. Transfer pricing is a significant area of focus for the firm and in the past 12 months the practice, which is led by the highly-regarded Samir Gandhi, has grown from 60 to 110 professionals.

Not content with raiding PwC, Deloitte brought in Rajesh Srinivasan from Ernst & Young and M&A specialist Hemal Jitendra Mehta from KPMG.

The tax practice, which is lead by M Lakshminarayanan, was involved in one of the largest mergers in the financial sector in the past 12 months. Vipul Jhaveri and Prashant Deshpande advised HDFC Bank in its $2.4 billion merger with Centurion Bank of Punjab. Deshpande also advised Emirates Telecommunications Corporation in its acquisition of a stake in Swan Telecom. The deal was worth $900 million and was among the top ten M&A deals of 2009.

Sunil Shah is the firm's international tax leader and is respected for his efficient inbound and outbound transactions.

The firm provides tax services from 10 offices located in Ahmedabad, Bengaluru, Chennai, Coimbatore, Gurgaon, Hyderabad, Kolkata, Mumbai, Pune, and Vadodara.

Two key areas of focus for Ernst & Young over the past year have been tax litigation and tax policy. The firm has aggressively hired in all these areas and have been involved in some the country's largest transactions. Srinivasa Rao heads the 1,200-strong ... [more]

Two key areas of focus for Ernst & Young over the past year have been tax litigation and tax policy. The firm has aggressively hired in all these areas and have been involved in some the country's largest transactions. Srinivasa Rao heads the 1,200-strong national tax department. With 55 partners across India, Rao has hired seven new partners over the past year to organise the firm into a real market leader.

Rajan Vora leads the tax litigation practice and has managed to create a prosperous department within a year of joining. Vijay Iyer oversees the transfer pricing department and is recommended by peers and clients as a "real transfer pricing authority". His team, which consists of 100 people, is being kept busy by the aggressive and litigious tax authorities. The firm was also involved in the discussions with the government about the introduction of the alternate dispute mechanism outlined in July's budget.

Sudhir Kapadia has also played a key role in the firm and has been heavily involved in the drafting of the country's GST policy reform package expected to be introduced in 2010.

Satya Poddar is advising the European Banking Federation on their proposed "option to tax" report on VAT to financial services in the EU. The report is being prepared for the European Banking Federation to analyse the impact of the proposed option to tax in the EU, where financial services are exempt from VAT. The exemption system has inherent flaws and weaknesses, in particular the economic distortions caused by blockage of input tax in the B2B supply chain, leading to the problem of cascading and the bias to "in-sourcing".

Other clients that have benefitted from the skills of Ernst & Young's tax team include Microsoft, Thomson Reuters, Walt Disney and WPP Group.

PricewaterhouseCoopers' tax practice is made up of more than 50 partners. The firm makes use of being part of an international network to understand international ideas and apply them on a local basis.Head of transfer pricing, Shyamal Mukherjee, has ... [more]

PricewaterhouseCoopers' tax practice is made up of more than 50 partners. The firm makes use of being part of an international network to understand international ideas and apply them on a local basis.

Head of transfer pricing, Shyamal Mukherjee, has been widely recommended by peers and clients for his years of experience and understanding of complex tax matters. Tax lawyer, Dinesh Kanabar has also been applauded for his cross-border structuring work.

The firm regularly undertakes large transactions as well as long-term projects. One project involved the development and implementation of a global transfer pricing policy for several countries, the establishment of a central entrepreneurial structure and the conversion of several existing affiliates into contract manufacturers or limited risk distributors. The project also entailed an analysis of contractual arrangements across locations to realise savings in the supply chain through profit portability. Taken together with an investment restructuring exercise, there was a need for marrying the transfer pricing aspects with the new holding structure.

Bansi S Mehta & Co is a well-respected accounting firm with nine partners who boast over 170 years tax experience between them. Clients include Cadbury India, HSBC, Korean Air and Vodafone. Recent work includes the merger of Jaiprakash Enterprises, Jaypee ... [more]

Bansi S Mehta & Co is a well-respected accounting firm with nine partners who boast over 170 years tax experience between them. Clients include Cadbury India, HSBC, Korean Air and Vodafone. Recent work includes the merger of Jaiprakash Enterprises, Jaypee Hotels, Jaypee Cement and Gujarat Anjan Cement into Jaiprakash Associates.

KPMG is one of the fastest growing tax practises in India. In the past 12 months the firm hired seven new partners from big-four rivals and from industry. It now has 40 partners and around 600 tax professionals in India and services some of the country's ... [more]

KPMG is one of the fastest growing tax practises in India. In the past 12 months the firm hired seven new partners from big-four rivals and from industry. It now has 40 partners and around 600 tax professionals in India and services some of the country's biggest names. The firm has offices in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, and Kolkatta. Almost all the offices are led by a full time partner based in that location.

Uday Ved leads the firm's tax practice and has over 25 years experience.

The firm believes that in the Indian environment, given the kind of complex tax issues faced by the clients, litigation is imminent. Hence, the firm has focused on building a strong litigation practice in India. Towards that end, the firm hired Pawan Kumar, a tax litigation specialist from PricewaterhouseCoopers. Keyur Shah joins as partner of the international tax and financial services practice from Ernst & Young.

On the tax advocacy front, KPMG has been working with premium trade bodies and industry organisations including CII and NASSCOM in giving recommendations to the Indian government on proposed changes in the Indian legislation. Partner Parind Mehta has been invited to join the committee formed by the Government of Maharashtra to discuss issues relating to introduction of GST in the state.

Transfer pricing has become an area of focus for the firm in the past year. Headed by Rohan Phatarphekar, the firm undertakes 500 transfer pricing studies each year.

TP Ostwal & Associates may be smaller than other firms in India, but its reputation is second to none. The firm is recognised for its strong structuring and restructuring abilities. Senior partner TP Ostwal has years of experience and one peer explained ... [more]

TP Ostwal & Associates may be smaller than other firms in India, but its reputation is second to none. The firm is recognised for its strong structuring and restructuring abilities. Senior partner TP Ostwal has years of experience and one peer explained that he should be "in the top tier of Indian tax professionals". Ostwal is a member of the Technical Advisory Group (E-Commerce) at the OECD in Paris and helped to frame the country's transfer pricing guidelines 10 years ago.

Economic Laws Practice is a growing tax firm in India and is steadily establishing itself as a viable alternative to the big-four accounting firms. This growth is highlighted by the appointment of Vispi Patel to the role of head of tax in late 2008. ... [more]

Economic Laws Practice is a growing tax firm in India and is steadily establishing itself as a viable alternative to the big-four accounting firms. This growth is highlighted by the appointment of Vispi Patel to the role of head of tax in late 2008. He was later joined by four associate partners from each of the big-four accounting firms.

The firm has the ability to handle most aspects of taxation matters and has developed a strong reputation in litigation cases thanks to the work of senior partner, Vikram Nankani. The firm also successfully represented the Confederation of Indian Alcoholic Beverage Manufacturers (which includes members such as Diageo, Bacardi, Pernod Ricard, LVMH and others) in the interactions with the Ministry of Finance which resulted in a favourable resolution for their clients of tax controversies for an amount in excess of $350 million.

Nishith Desai & Associates is a smaller firm that believes actions speak louder than words. Over the past year, it seemed the firm was shouting loudly as it became involved in some of the larger transactions in India. Nishith Desai, Mansi Seth and Milind ... [more]

Nishith Desai & Associates is a smaller firm that believes actions speak louder than words. Over the past year, it seemed the firm was shouting loudly as it became involved in some of the larger transactions in India. Nishith Desai, Mansi Seth and Milind Antani all worked together on a joint venture that integrated IP strategy with tax efficiency for a large US pharmaceutical company.

Nishith Desai is an international law firm with offices in Mumbai, Bangalore, Silicon Valley and Singapore. The firm specialises in strategic legal, regulatory and tax solutions backed by industry expertise and an integrated focus. Core practice areas include international tax, cross-border transactions, fund structuring and investments and M&A.

Bijal Ajinkya co-leads the international tax practice and has nearly a decade of work experience in the field of international tax. She has appeared before the Supreme Court in the case of Azadi Bachao Andolan, the case law on tax treaty interpretation, in addition to a number of other matters before the Advance Ruling Authority.

Vaibhav Parikh leads the firm's technology law practice and also heads the firm's US office. He has a wide range of experience in corporate and technology transactions. He has advised several private equity and venture capital funds in their investments, specifically in technology and media industry.

GM Kapadia & Co is a boutique tax firm with international tax capabilities. Partner Harsh Shah is in charge of international taxation and is part of the firm's accounting and compliance practice. Managing partner, Rajesh Kapadia, is commended by clients ... [more]

GM Kapadia & Co is a boutique tax firm with international tax capabilities. Partner Harsh Shah is in charge of international taxation and is part of the firm's accounting and compliance practice. Managing partner, Rajesh Kapadia, is commended by clients for transaction advisory services and estate planning. Head of the practice, Ashwin Damania's core competencies are in the area of cross-border taxation and transfer pricing.