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Herzog Fox & Neeman is one of the largest law firms in Israel and is strong in general corporate and commercial matters. The tax department has expanded this year with the addition of two more associates. The tax practice is capable beyond corporate ... [more]

Herzog Fox & Neeman is one of the largest law firms in Israel and is strong in general corporate and commercial matters. The tax department has expanded this year with the addition of two more associates. The tax practice is capable beyond corporate support and transactional tax issues and covers cross-border structuring, capital markets, transfer pricing, indirect taxes and tax litigation too. The tax team is jointly led by Meir Linzen, who is the firm's managing partner, and Eldar Ben-Ruby, who is a senior partner in tax and head of the firm's fund formation team. Linzen is capable in several areas including M&A, cross-border structuring, customs and currency control matters. Ben-Ruby receives plaudits for his corporate tax advisory work. He specialises in international tax issues with a particular emphasis on cross-border investment funds. The firm has been particularly active in M&A advisory work this year with several high-profile transactions handled by the firm's corporate department on which the tax team provided support. Cross-border tax issues were at the heart of Facebook's acquisition of mobile phone applications developer Snaptu and marked only the second instance of the social network website buying another company outside the US. They also advised PMC-Sierra in its acquisition of Wintegra, a telecommunications infrastructure company. Earn-out provisions in the agreement mean that an additional $60 million may be payable at the end of 2011. This element of the deal posed issues relating to deferred consideration that the tax team had to surmount. The firm's competitors recognise that for clients seeking integrated legal and tax advice Herzog Fox & Neeman is a natural choice. One rival said: "The firm is the best one-stop-shop in Israel for commercial matters where there are also tax issues."