PwC has strong presence in the market and remains among the leading tax law firms in the Baltic States. The firm is among the largest in the region employing 70 full time tax consultants across all three states.The tax practices in the Baltic countries ...
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PwC has strong presence in the market and remains among the leading tax law firms in the Baltic States. The firm is among the largest in the region employing 70 full time tax consultants across all three states.
The tax practices in the Baltic countries are led by two local tax partners and one tax director. The firm's business capabilities cover M&A, indirect tax, personal tax and corporate tax business lines.
In December 2011, the team assisted one of the largest telecommunication services providers, in Lithuania and Latvia, on the preparation of complex transfer pricing documentation for inter-company transactions. The firm has also been active working on dispute resolution cases representing clients in the course of transfer pricing tax audits.
The practice also works closely with legislators and regulatory bodies on areas of improvement in tax law. PwC lobbied, with success, for change to the holding company regime in Latvia. As a result, from 2013 the time limit for the carryforward of tax losses will be removed.
The firm also has specialist advisors working in industries including energy, real estate, financial services and pharmaceuticals. Its Lithuania practice is among the fastest growing in the region with its transfer pricing department showing annual growth of revenue at 15-20%.
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