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Deloitte has a tax practice in the GCC led by Nauman Ahmed from the firm's Saudi Arabian office. Clients of the practice include multinationals in several sectors, including oil and gas company Saipem, glass manufacturer Guardian Glass and infrastructure ... [more]

Deloitte has a tax practice in the GCC led by Nauman Ahmed from the firm's Saudi Arabian office. Clients of the practice include multinationals in several sectors, including oil and gas company Saipem, glass manufacturer Guardian Glass and infrastructure and finance company GE. The firm this year coordinated the tax aspects of the investment by a number of private equity firms in Islamic finance products in Saudi Arabia. This was a challenging matter as the tax law does not cater for Islamic finance products. Ahmed and John Belsey also handled the private equity buy-out of a Saudi Arabian business which required close attention to the structuring to ensure tax efficiency for both parties. And the firm advised on a Qatari investment fund on its investment into 14 countries across South America, Asia and Africa. They had to ensure that the holding companies making the investments had sufficient presence in Qatar to qualify for the double tax treaties with the countries where each investment was made. The firm has a relatively large practice across the GCC with five partners and 41 fee earners and is capable across a range of tax issues.

Yitzchak Chikorel leads Deloitte's Israeli tax practice of nine partners and 80 other fee earners. The firm is known for its cross-border structuring work and corporate tax capability. Chikorel is recognised by peers as a good international tax adviser. ... [more]

Yitzchak Chikorel leads Deloitte's Israeli tax practice of nine partners and 80 other fee earners. The firm is known for its cross-border structuring work and corporate tax capability. Chikorel is recognised by peers as a good international tax adviser. Deloitte advised on the largest joint venture in Israel this year; this was one of many M&A transactions it advised on in a quiet market. The transfer pricing service line has seen a significant increase in the volume of work this year as clients seek advice in light of increased scrutiny from the tax authorities.

Niyazi Comez leads Deloitte's Turkish tax practice of 13 partners and 179 fee earners. Notable additions to staff this year include Orhan Kahraman from the Ministry of Finance as a tax director, providing the practice with a close link to tax authorities. ... [more]

Niyazi Comez leads Deloitte's Turkish tax practice of 13 partners and 179 fee earners. Notable additions to staff this year include Orhan Kahraman from the Ministry of Finance as a tax director, providing the practice with a close link to tax authorities. The addition of Lerzan Nalbantoglu as legal services director has also reinforced the firm's abilities in contentious tax. The firm is particularly noted for its strength in capital markets and financial products, with Sedat Eratalar highly recommended by competitors. This year, the firm was engaged in the first transfer pricing audit defence under the new transfer pricing rules in Turkey that were implemented in 2007 and obtained a successful result for the client. This is a particularly important result in light of the absence of existing case law and judicial guidance on the new transfer pricing rules. Transfer pricing was also the major issue in advice provided to the Turkish subsidiary of a multinational group. The movement of certain operations to the subsidiary involved the transfer of intangible assets fundamental to the business. The practice advised the client on whether the intangibles presented any transfer pricing implications in the absence of any definite legal guidance on marketing intangibles.