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Evgeny Timofeev, the new head of the Russian/CIS tax practice at Goltsblat BLP, has garnered a fine reputation in the marketplace for his tax litigation. Many competitors identified him as one of the leading figures in Russia for tax controversy matters. ... [more]

Evgeny Timofeev, the new head of the Russian/CIS tax practice at Goltsblat BLP, has garnered a fine reputation in the marketplace for his tax litigation. Many competitors identified him as one of the leading figures in Russia for tax controversy matters. The former heads of tax, Vladimir Tchikine, a customs and international trade partner, and former PwC partner Andrey Shpak are still at the firm. Competitors identify Shpak's addition to the team as an indication of the firm's improvement this year. The firm is identified as being particularly strong in M&A related tax advice where Andrey Goltsblat is widely recognised in the market for his capabilities. The firm's clients include a number of multinationals operating in Russia such as Mars, Mitsubishi and Kimberly-Clark. Their work this year has included managing tax issues arising from Mars' renegotiation of trade terms with retailers and distributors in Russia. New trade laws were introduced in late 2010 which necessitated reorganisation to maximise tax efficiency. Their M&A and structuring expertise were central to work done on the acquisition of a minority stake in the Bank of Moscow after VTB's acquisition of a majority stake from the government. The previous owner's complicated ownership structure meant that the deal had to be intricately structured to ensure favourable tax treatment and control of future legal risks. The firm has expanded and built its reputation in spite of the difficulties in the financial sector meaning that it is confident it will continue to grow as commercial activity gathers pace again.