On 24 April the Turkish government submitted a bill to the Grand National Assembly proposing a tax amnesty that would allow taxpayers to declare offshore assets and pay a two per cent tax.
Walker Morris has advised Cott Developments on its acquisition of Calypso Soft Drinks.
Law decree n. 179 dated 18 October 2012: recent clarifications given by the tax authorities download
In a recent position (n. 12/E dated 3 May 2013) tax authorities dealt again with the amendments made by Law Decree n. 179/2012 with reference to the international transports taxation.
The Tax Tribunal has concluded that the transaction between the Royal College of Paediatricians and Child Health and Coleridge was a TOGC.
A new draft of the proposed income tax law has been submitted for review to the Legislation and Opinion Bureau in Jordan.
Hogan Lovells has announced that tax disputes partner Rupert Shiers is to join its London tax team on 24 June.
LPA receivers collect rents, together with any VAT payable on those rents, and incur input VAT on costs associated with their appointment, such as development costs.
Taxing multinationals, and the public accounts committee: is there a place for common sense? download
Many commentators remain uncomfortable that US multinationals with significant UK operations can legitimately claim not to be taxable in the UK.
King & Wood Mallesons has appointed corporate partner Tim Bednall as managing partner.
Hogan Lovells has advised ID Logistics on its acquisition of CEPL.
Herbert Smith Freehills (HSF) tax litigation partner Rupert Shiers has quit the firm to join Hogan Lovells as head of its direct tax disputes practice.
Tax newsletter: June 2013 — Serbia download
Serbia’s Ministry of Finance and Economy continues its intensive work on amendments to the tax laws.
HMRC is consulting on a new form of tax protection: Individual Protection 2014 (IP14).
In a recent case involving the efficacy of a tax scheme, the First-tier Tribunal found a series of unregistered trademark assignments were ineffective.
Hogan Lovells has been recommended by the Legal 500 US 2013 edition in 35 practice areas, including seven rankings in the Tier-1 category.
Companies offering UK-based employees rights in the company’s stock should be aware that these employees may have reporting obligations to the UK tax authorities.
Malta — Global Residency Programme download
A new Malta residence programme for foreigners (non-EU) has been launched, replacing the permanent residence scheme that was amended in 2012.
The long awaited draft Finance Bill for 2013 has finally been published, providing further information as to the way UK residential properties valued at over £2 million will be taxed from April 2013.
This document from Acumum lays out the registration fees and tonnage tax in Malta.
What multinationals should know about the Cyprus crisis and its international tax regime.
DLA Piper and NCTM are legal advisers in the acquisition of Inver Group, from the Domenichini family, by the Valspar Corporation, a manufacturer of paints and coatings.
The May 2013 issue of DLA Piper’s International Tax News publication is available now.
DLA Piper received two awards at the ninth annual International Tax Review European Tax Awards.
DLA Piper has advised the former owners of German plant and machinery manufacturer Kuhnke on the sale of all shares in Kuhnke to Kendrion.
Landlords with empty premises are exploiting a tax break intended for charities to avoid paying business rates.
The Charity Commission has announced a statutory inquiry into the Cup Trust but it could be argued that HMRC as much to blame.
Companies carrying out R&D-related activities and incurring general day-to-day running costs may be able to reduce their corporation tax liability by claiming relief under the R&D tax relief scheme.
On 20 May HMRC released a consultation regarding the taxation status of some LLP members and the manipulation of profits and losses by partnerships.
Limited liability partnerships in Jersey are a statutory form of vehicle, established under the Limited Liability Partnerships (Jersey) Law 1997, that have a number of special characteristics.
On 21 May 2013, the government of the British Virgin Islands (BVI) signed a tax information exchange agreement (TIEA) with the Canadian government.
French firm Darrois Villey Maillot Brochier has picked up a three-strong tax team from Jones Day in Paris, including the US firm’s European tax head Vincent Agulhon.
If it is implemented as proposed, the financial transaction tax is likely to cause distortion to the financial sector and will almost certainly change the way we do business.
Nabarro has announced that eight associates have been promoted to the partnership.
Malta has seen a substantial increase in the gaming, financial services and aviation sectors.
The government has launched a consultation on how it can provide support to the visual effects industry.
Interpretative decision will have implications for all entities that buy or sell tenanted commercial premises.
DLA Piper has received 177 individual lawyer and 64 practice rankings in the latest annual Chambers USA.
Malta has one of the lowest tax regimes in the EU.
Bring Your Own Device Guidance issued by ICO. Walker Morris continues to invest in specialist expertise with partner and director promotions
Annual update on the latest tax developments related to inbound acquisitions.
A total of 17 EU nations have announced their intention to engage in the development of a global standard for automatic exchange of information.
Allen & Overy’s Belgian tax practice has won the Belgium Tax Firm of the Year award at the International Tax Review European Awards.
There is continuing concern about the introduction of FATCA.
Taxation is one of Dacheng’s traditional fields of expertise and one that the law firm is particularly adept at handling in today’s ever-changing and complex commercial environment.
Blackstone Chambers’ James Eadie QC has defeated a judicial review bid by lobbying group UK Uncut over HM Revenue & Customs’ multi-million pound “sweetheart” deal with Goldman Sachs.
The 2013–14 Budget contains significant changes to the Australian taxation system to address revenue shortfalls and to seek to fund spending promises.
Chadbourne & Parke’s John Marciano looks at the high-level tax considerations surrounding investment in non-US projects.
Taylor Wessing has added a fresh batch of data-protection-focused content to its Global Data Hub site.
The Dutch Supreme Court has ruled that uncollected dividend tax liability is part of taxable profits.
US Senate Finance Committee white paper — signal of international corporate tax reforms to come? download
The US Senate Finance Committee has released its white paper on international competitiveness.
If the proposals for a financial transaction tax (FTT) are implemented as proposed by the European Commission, the FTT is likely to cause distortion in the financial sector.
With more than 100 tax specialists across our international network, we are able to offer both domestic and cross-border advice wherever our clients need it.
Linklaters Washington DC tax partner Joseph Pari has left for KPMG, roughly a year after moving to the magic circle firm ahead of the collapse of Dewey & LeBoeuf.
Recently, the Federal Court of Australia handed down its decision in Resource Capital Fund III LP v Commissioner of Taxation  FCA 363 (RCF).
Linklaters has added two partners to its nascent Washington DC office with the hire of Bingham McCutchen tax duo David Brockway and Jasper Howard.
Australia’s federal government has released for consultation exposure draft legislation that proposes to introduce tax loss incentives for designated infrastructure projects.
The May 2013 issue of DLA Piper’s Sports, Media and Entertainment Intelligence briefing is available now.
The government has announced an annual tax on enveloped dwellings.
DLA Piper has announced that 34 lawyers have been promoted to its partnership. The promotions are effective from 1 January 2013 in the US and 1 May 2013 for the EMEA and Asia-Pacific regions.
Swiss firm Niederer Kraft & Frey (NKF) has lost two partners after the duo were caught up in allegations of tax evasion between the US and Switzerland.
The spring 2013 issue of Walker Morris’s Procurement Update covers topics such as the EU procurement reforms, the Utilities Directive and NHS healthcare services.
The Italian Revenue Agency has clarified that to be excluded from the scope of ‘abuse of rights’ are the agreements relating to mid- to long-term bank financing transactions entered into abroad and designed to have legal effect in Italy.
Winckworth Sherwood has expressed concerns over the UK benefit system changes.
Approval of the introduction of the employee shareholder status has finally been given by Parliament, but only after a number of amendments to the relevant legislation were agreed by the government.
Tax Update — April 2013 download
Arendt & Medernach has released the April 2013 edition of its Tax Update.
Russia-Malta Tax Treaty download
It is expected that the new Russia-Malta Tax Treaty will be in force much quicker than its predecessor.
We aim to tailor our tax services to your approach but never lose sight of the virtues of common sense. We offer transaction support, transaction structuring and tax consultancy services.
Have you bought an investment property in the last four years? Was the transaction effected by the grant of a long lease for a premium?
The IRS has had a flood of calls about a suggestion that turbine supply agreements should not have liquidated damages provisions.
Management services provided to a fund in which the assets of defined-benefit pension schemes are pooled for investment purposes are not exempt from VAT.
Legal advice privilege does not apply to advice given by a professional other than a lawyer download
The Supreme Court has confirmed the Court of Appeal’s decision that legal advice privilege does not apply to legal advice given by a professional other than a lawyer
In Edward Allchin v HMRC, the First-tier Tribunal has confirmed that the novation of a contract does not fall within the SDLT sub-sale relief provisions.
The Budget 2013 contained a number of measures to extend the capital gains tax relief for re-investing gains in Seed Enterprise Investment Scheme shares.
Procurement and tax — update download
The government has revised the scope of its procurement and tax proposals in response to extensive concerns raised by stakeholders.
Former Freshfields Bruckhaus Deringer senior partner Konstantin Mettenheimer is set to join asset manager Edmond de Rothschild Group this summer as its Germany chairman.
Loyalty Management has won its long-running battle to deduct input tax incurred during the ordinary course of its business.
The CJEU has confirmed that investment advice provided to certain investment funds by a third party constitutes an activity of ‘management’ and therefore benefits from VAT exemption.
As first announced in the 2011 Waste Policy Review, the Landfill Allowance Trading Scheme came to an end on 31 March 2013.
Tax — recent news highlights download
The Serbian government has decided to further amend the law on personal income tax and the law on property tax.
Convention against double taxation between Italy and Hong Kong.
Following the decision of the ECJ in the case of National Grid Indus BV v Inspecteur van de Belastingdienst Rijnmond C-371/10, several EU member states have amended their exit tax regimes.
This analysis of French transfer pricing issues addresses a range of topics.
KWM has appointed Tim Sherman as a partner in the tax team at the firm’s Sydney office.
Taylor Wessing has set out a summary of some of the main announcements of the 2013 Budget.
Cayman Islands, Guernsey and Jersey announce intention to enter into FATCA agreements with the US and UK download
Cayman Islands, Guernsey and Jersey looks set to enter into US and UK FATCA agreements.
DLA Piper has released the March 2013 edition of International Tax News.
DLA Piper has released a summary of all of the firm’s rankings and editorial commentary in Chambers Global 2013.
Budget 2013: tax summary download
This briefing from Shoosmiths provides a summary of the main tax points of interest with the draft Finance Bill to be published on 28 March.
A new bill before Parliament would require trustees of superannuation funds to merge multiple superannuation accounts held by the same member.
The cross-border transfer of a cash pooling activity within a multinational group constitutes an indirect transfer of profits.
In March 2012, the French customs authorities published an updated version of their guidelines applicable to customs value containing an amendment with respect to transfer pricing.
On 4 January 2011, the French tax authorities published guidelines on new requirements that had been introduced relating to specific transfer pricing documentation.
In its tax blog, law firm Olswang discusses the 2013 Budget. The interactive blog features the latest news, views and analysis of Chancellor George Osborne’s announcements.
The Supreme Court has confirmed that legal advice privilege extends only to the legal profession.
Congress finally got around to extending the production tax credits and investment tax credits for wind, geothemal, biomass, marine, landfill gas and hydro projects.
Real Estate newsletter — March 2013 download
This month’s Real Estate newsletter from Nabarro discusses residential tenancies, explains how to avoid stopping up and explores the various types of tenant security.
Olswang has been recognised by Chambers & Partners in its 2013 Global edition.
Olswang has announced that 28 of its attorneys have been recognised by Thomson Reuters in its 2013 London Super Lawyers and Rising Stars lists. Partner Eleni Skordaki has also been listed in the Top 50 Women in London.
The Manx Disclosure Facility download
The Manx Disclosure Facility is a facility by which taxpayers can regularise their tax affairs in the UK by making voluntary disclosure and a limited payment in respect of their outstanding liabilities.
Taylor Wessing has released the latest edition of its International Tax Update.
Tax changes are intended to make owning high-value residential property through companies less attractive.
The Court of Appeal has rejected BAA’s claim for recovery of input tax incurred on professional fees invoiced to a company that acquired it and that subsequently became a member of its VAT group.
With effect from 1 April 2013, suppliers tendering for government contracts above the threshold will be required to declare their tax compliance history as part of the public procurement process.
Over the years, NCTM’s team of tax experts has gained a strong reputation with audit firms and the corporate sector.
In the Budget, the Chancellor stuck to his promise to come down like a “tonne of bricks” on wealthy individuals who are seen as not paying their fair share of SDLT by buying valuable residential property in corporate vehicles and eventually selling the shares in those corporate vehicles free of SDLT.
An overview of developments in tax law in Montenegro and Serbia.
An overview of developments in tax law in Serbia.
A guide to obtaining tax efficiency through basing operations in Malta.
Malta’s remittance system download
A Malta incorporated company is considered ordinarily resident and domiciled in Malta & are subject to tax on their world-wide income. A company which is not incorporated in Malta but is managed and controlled in Malta is taxed on a remittance basis on its foreign sourced income.
Acumum is set to sponsor the Malta Institute of Management’s International Taxation Conference.
BAA’s plight serves as a warning to prospective buyers where a purchase is to be structured through a SPV.
Recovery of VAT on transaction costs download
It is important that transactions are structured so that VAT on transaction costs may be recovered where possible by the Bidco.
Since the start of 2013, there have been three major developments on the US tax treaty front: a new protocol with Spain, a new protocol with Japan and a revised treaty with Poland.
The IRS has issued proposed regulations regarding the implications of the failure to file or comply with documentation requirements to qualify for non-recognition of gain in ‘outbound’ transfers of certain property to foreign corporations.
Europe’s leaders are striving to demonstrate their commitment to defend the euro on the markets, but the eurozone’s outlook for 2013 is still grim.
Belgium has been revising a number of tax statutes in order to combat tax abuses.
Inheritance tax update download
The Treasury has announced that the Nil Rate Band of £325,000 — the current amount of an estate that can be inherited tax free — is to remain the same until 2019 and will not increase in line with inflation.
Karanovic & Nikolic has published its latest tax newsletter for Serbia and Montenegro.
UK tax relief for television is set to be introduced from 1 April 2013.
The Bowman Gilfillan tax practice provides thoroughly considered and legally sound transactional tax advice to local and international financial institutions, corporates and individuals.
We provide a range of corporate and tax compliance services including the setting up of companies, management services, tax compliance and any other corporate services.
Our Tax Law practice assists national and multinational corporations, industrialists and financial institutions, fund promoters, sponsors and investors in private equity and real-estate transactions.
The main tax and fiscal consultancy services we render consist of informing clients about the up-to-date Turkish tax legislation.
In this briefing, Kelly Kogan, a senior attorney with Chadbourne & Parke, explains why expansion into new markets must be planned, with a focus on identifying and managing the potential costs of such an initiative.
MOLITOR’s Aurélie Budzin-Dang focuses on tax on inbound investment in Luxembourg.
Cyprus, being one of the most reputable low-tax jurisdictions in the European Union, gave the initiative for the creation of a specialised tax planning department in Nicosia with a strong presence in Athens.
MOLITOR has extensive experience in counselling and assisting a broad range of companies in all areas of corporate law.
In the mid-1990s, around the time that Nokia Corporation was becoming a global handset monolith, serious discussions were held in Finland about the country’s high tax burden on foreign employees’ salaries.
Our lawyers provide tax services both as an integral part of our full-service offering and on a standalone basis. We are regularly involved in the development of innovative and tax-efficient structures.
The tax practice group of Chadbourne & Parke is considered one of the most well-known and well-regarded tax practice groups in the US.
Two former tax partners from Berwin Leighton Paisner (BLP) have joined forces with a consultant from CMS Cameron McKenna to launch tax boutique Rosetta Tax.
The Curtis tax group offers clients vast experience in providing advice on the tax aspects of US and international transactions.
Chadbourne & Parke’s lawyers provide entrepreneurial, pragmatic and proactive advice to the firm’s private funds clients.
Mayer Brown’s tax practice is globally recognised as a top-tier practice by Chambers USA, Legal 500 United States and International Tax Review.
Clients call upon King & Wood Mallesons for all aspects of their tax and superannuation requirements.
New UK property taxation rules download
The UK government announced proposals in its 2012 Budget to introduce new tax charges for high-value residential properties and for properties owned by ‘non-natural persons’.
HM Revenue & Customs on 14 January published new guidelines (INTM120085) on non-standard treaty tiebreakers that could have an impact on the UK’s tax treaties with the United States, Canada, and the Netherlands.
Our tax group advises clients across various industry sectors.
An ex-British colony and now a legitimate EU country with 100 per cent EU and OECD compliance, Malta is the obvious choice to start or relocate your business, structure or hold assets, royalties and intellectual property.
The publication last month of the draft clauses to be included in the Finance Bill 2013 due to come into force this April confirmed the measures proposed for the taxation of high value residential property in the 2012 Budget.
Olswang’s tax group advises across the full range of direct tax, VAT and duty issues.
Tax is an essential focal point for any business. It has the potential to impact on all aspects of day-to-day operations, from meeting compliance obligations to undertaking bespoke planning for a complex capital reorganisation.
Our lawyers are skilled at looking for commercial solutions, whether dealing with general tax planning, tax-efficient employee and remuneration packages, investing and exit tax structuring, or negotiating with HMRC.
The firm’s expertise in all aspects of corporate and commercial law gives it a unique ability to understand both the key legal and tax-related issues when providing taxation advice.
Global markets give rise to many complicated tax issues that require both expert knowledge of national legislation, including tax treaties, and an international perspective.
The draft Finance Bill 2013, published on 11 December, includes a cap on the amount of income tax relief that tax payers can receive, where the relief itself is not already capped.
Tax is money. Whether for your business, for your employees, for your shareholders or for you, our Tax Team understands that managing your tax position is of critical importance.
Our international tax team comprises over 40 tax advisers based throughout our European offices.
Residential property taxation: Introducing the new Annual Residential Property Tax and extended Capital Gains Tax rules for ‘non-natural persons’ download
The Finance Bill 2013 was published on 11 December, along with the Government’s much awaited response to their consultation on “Ensuring the fair taxation of residential property transactions”.
The draft Finance Bill published last week includes a number of provisions and changes in respect of the taxation of residential properties valued over £2 million (so called “high value” residential properties) which are acquired and owned by companies and certain other nonnatural persons.
Following the consultation process carried out over the summer months, the Government has confirmed that new tax reliefs for the creative sector – intended to be “the most generous available in the world” - are due to be introduced as part of the Finance Act 2013.
SEIS and EIS: Time for reflection download
From 6 April 2012, the Seed Enterprise Investment Scheme (SEIS) was introduced enabling certain individual investors to benefit from generous tax reliefs for investing into start up companies.
Community Infrastructure Levy (“CIL”) is a form of tax levied by a local planning authority or public body e.g. the Mayor of London, (a “charging authority”) on commencement of development of land.
Gifts out of surplus income download
Most people will know that they are entitled to give £3,000 in any one year (or £6,000 if they have not made a gift in the previous year) without there being any inheritance tax implications.
Former 39 Essex Street silk Rohan Pershad QC, who is facing allegations of VAT fraud, thought his chambers paid his VAT bill for him, a jury has heard.
Tax is always, well, taxing and no more so than when you are Anthony Inglese, general counsel of HM Revenue & Customs.
Not many barristers can claim to have saved the taxpayer £20bn in the past year, but that is exactly what Monckton Chambers’ Melanie Hall QC (scroll down for video interview) did in 2012.
Sara Luder (scroll down for video interview) is one of three female practice chiefs at Slaughter and May - four when Deborah Finkler becomes head of disputes next year after Richard Clark steps up to executive partner - and one of the City’s top tax lawyers.
Momentum is building to reform the US tax system and address the nation’s fiscal challenges.
In a landmark case, the Supreme Court has confirmed that legal advice privilege does not apply to other professions.
From 1 April 2013, UK companies will be able to elect into a new regime that applies a lower rate of corporation tax to profits from qualifying intellectual property rights.
A number of foreign residents living in Switzerland benefit from an advantageous tax regime called régime du forfait, an attractive alternative to the tax based on the real income of the taxpayer.
Macfarlanes has made a rare lateral partner hire by re-recruiting Speechly Bircham international tax and wealth structuring head Charles Gothard.
Pump Court Tax Chambers has secured a major victory for the former owners of Rangers Football Club in a legal battle with HMRC.
A company that specialises in tax relief scheme litigation for investors has hired its first general counsel to head up legal action.
Mr Justice Arnold has thrown out an appeal bid by a franchisee of sandwich chain Subway to challenge HM Revenue & Customs’ VAT policy on hot food.
Skadden Arps Slate Meagher & Flom has hired a third partner from Shearman & Sterling in Germany as it bulks up its German offering.
French draft budget for 2013 download
On 28 September 2012, the French government released its much-awaited draft budget for 2013, which, unsurprisingly, contains significant tax increases, targeting wealthy individuals and large businesses.
Recommendations of the expert committee on the Indian General Anti-Avoidance Rule: a welcome step download
On 1 September 2012, the Shome Committee, which was constituted by Indian Prime Minister Manmohan Singh to review the General Anti-Avoidance Rule, submitted its 108-page Expert Committee Report to the Indian Government.
Belgian firm Liedekerke Wolters Waelbroeck Kirkpatrick has boosted its tax expertise with the hire of Laurence Pinte, formerly head of tax for Franco-Belgian bank Dexia.
The US and the UK announced on 14 September that they have signed a bilateral agreement to improve international tax compliance and implement the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA).
HM Revenue and Customs (HMRC) has launched a task force to crack down on tax dodgers in the legal profession as another barrister faces VAT fraud charges.
The world of international taxation becomes more transparent with every passing year.
Morgan Lewis & Brockius has hired Christian Nouel, a tax partner at Paris-based STC Partners and former tax head at Latham & Watkins’ Paris office.
The UK government Budget announced on 21 March 2012 made substantial changes to the structure of stamp duty land tax in the UK with immediate effect.
Former go-to adviser takes a back seat as rivals overtake in car race
The US Treasury Department recently issued proposed regulations interpreting sections of the Internal Revenue Code (the Code) commonly referred to as the Foreign Account Tax Compliance Act (FATCA).
Two CMS Cameron McKenna partners have left the firm to launch a West End tax boutique.
Austrian firm Wolf Theiss has hired an experienced Canadian tax lawyer to head its tax practice.
The maker of sports energy drink Lucozade has lost an attempt to prove that it is a functional food rather than a beverage, with the Tax and Chancery Upper Tribunal ruling that Lucozade Sport is mainly drunk for hydration and pleasure.
Former Slaughter and May tax partner Richard Carson is poised to resurface at Taylor Wessing after retiring from the magic circle firm in April.
SJ Berwin Germany has re-hired a partner who left the firm three years ago to establish his own tax boutique.
French business law firm Foucaud Tchekhoff Pochet et Associés (FTPA)has launched a tax department following the arrival of a former Sullivan & Cromwell partner.
Benelux firm Nauta Dutilh has hired Van Bael & Bellis partner Pascal Faes to boost its Brussels tax expertise.
Baker & McKenzie has bulked up its global tax practice with the hire of two prominent tax lawyers from the Organisation for Economic Co-operation and Development (OECD).
The former head of Charles Russell’s corporate tax group Tarlochan Lall has taken up a seat at Monckton Chambers.
Clifford Chance has named Chris Davies as head of its City tax, pensions and employment (TPE).
Devereux Chambers has expanded its tax practice with the arrival of Jonathan Fisher QC from 23 Essex Street.
Freshfields Bruckhaus Deringer has named London-based partner Colin Hargreaves as head of its global tax group.
McGrigors has bolstered the Manchester team it hired from Hammonds earlier this year with the addition of seven lawyers at the same time as bulking up its Aberdeen and City practices.
Benjamin Franklin was famously quoted as saying: “The only things certain in life are death and taxes.”
Dewey & LeBoeuf has lost two of its biggest hitting German partners with its Frankfurt managing partner leaving to launch a tax boutique.
Cleary Gottlieb Steen & Hamilton tax partner Nikhil Mehta has quit the firm to join Gray’s Inn Tax Chambers.
Berwin Leighton Paisner (BLP) has expanded its tax capability with the hire of Lloyds Banking Group’s head of VAT Linda Adelson as a partner.
The forthcoming tax regime will certainly have a lightening effect on partners’ pockets. David Furst examines the various ways to mitigate the impact
CMS Cameron McKenna has become the latest UK law firm to hire a prominent transfer pricing specialist, as firms continue to compete with the big four accountants to provide high-margin tax and economics advice.
Reynolds Porter Chamberlain (RPC) has hired a new head of tax disputes from Berwin Leighton Paisner (BLP).
Baker & McKenzie has hired a former Ernst & Young (E&Y) economist in London for its transfer pricing practice.
Mayfair firm Forsters has bolstered its tax team with the hire of Halliwells partner Elizabeth Small.
Revenue’s tough stance on transfer pricing sparks lucrative new practice area for City leaders
Berwin Leighton Paisner (BLP) is continuing to build its tax and trusts department with another recruit from Clifford Chance in the shape of private client partner Murray North.
Weil Gotshal & Manges has hired an Allen & Overy tax partner to bulk up its London office.
Berwin Leighton Paisner (BLP) has continued with its strategy of bulking up its tax practice by picking former Freshfields Bruckhaus Deringer director Alan Sinyor to join its strategic tax team.
Clifford Chance taps Linklaters for NY hire" /Clifford Chance has turned to magic circle rival Linklaters for its latest New York partner hire, signing up tax lawyer Robert Thornton Smith.
Clifford Chance has boosted its Paris tax team with the hire of French judge Laurent Vallée as of counsel.
DLA PIPER is looking to fill the final gap in its global coverage with the hire of a McDermott Will & Emery partner to spearhead the firm's push into the Latin American market.
Ashurst has raided Freshfields in Frankfurt, scooping tax partner Matthias Kuhn as it continues to build its German operation.
O’Melveny & Myers is continuing its attack on the UK private equity market with the hire of Linklaters corporate tax partner Jan Birtwell.
Partners at UK law firms in France are expected to suffer under the burden of rigorous new tax laws designed to close loopholes for international firms.
The big casino players will be clamouring to invest once the Gambling Bill has been ironed out
Lovells has launched a standalone tax practice in Spain with the appointments of the former Spanish director general of taxation Miguel Ángel Sánchez (left) and former deputy director general of tax policy Alfonso Padilla. Sánchez, who will be based in Madrid from 2 November, joins as a partner with former colleague Padilla. The hires are in line ...
SJ Berwin has bolstered its tax practice with the appointment of a special commissioner who was recently involved in a landmark hearing regarding the taxation of family-run businesses.
Manby & Steward has hired a new partner for its dispute resolution division. Brian Aikman, a recently-appointed deputy district judge, joins the firm from Birmingham’s Martineau Johnson, where he was a partner in the litigation department.
Customs & Excise has instituted a wave of internal reform in a bid to avert any further damage to future prosecution cases.
The trust arm of Jersey law firm Bedell Cristin has deepened its penetration of the onshore sector with the launch of a business in Switzerland.
Moving from London to Ireland might seem to be a strange move for a shipping lawyer. Not so, says Helen Noble, citing the attractions of the Irish tonnage tax
Coudert Brothers is working to rebuild its embattled Paris office with the hire of two new partners.
Robert Schon, the Simmons & Simmons partner suing his own firm for racial discrimination, is one of a tiny number of partners Simmons cannot remove from the equity, The Lawyer can reveal.
The tax avoidance disclosure regime introduced in this year’s budget raised a fresh challenge to legal professional privilege. Peter Nias reports
With the leading tax teams taking on a more strategic role, it’s no longer only Brad Pitt who can win a battle with a Trojan Horse. Kate Schmit reports
UK tax law is nearing a showdown with European legislation. Richard Palmer reports
City firm hit by unprecedented discrimination claim as senior equity partner alleges anti-Semitism
Langleys Solicitors has appointed a new partner to bolster its commercial team. Andrew Argyle has joined the firm’s Lincoln office, where he will specialise in commercial litigation. Argyle arrives from Birmingham firm Shakespeares, where he was a partner in the commercial litigation department.
REITs are not a magic bullet, but the markets in the US and Australia, where REITs have been around the longest, are notably more dynamic than in the UK
Hammonds property partner Michael Cassidy is among the lawyers celebrating after being awarded the Commander of the Order of the British Empire (CBE) in Saturday’s Queen’s Birthday Honours List. Cassidy joined Hammonds last year after a brief stint at DJ Freeman and then Olswang. He spent more than 30 years as a property partner at Maxwell Batley. He is also a director on the boards of British Land and UBS ...
In Putin’s battle with the oligarchs, the rule of law is looking increasingly fragile. By Joanne O’Connor
“Commercially active high-net-worth individuals demand expert legal advice,” says Julian Whately, senior partner of Westminster firm Lee & Pembertons. Whately claims that his firm provides that advice, and not just in the traditional private client sectors of, for example, trusts and personal tax planning. “What we aim to be is a one-stop shop for all our clients’ needs,” he says.
South East firm Thomas Eggar has appointed Alan Parsons as a chartered tax adviser and Carl O’Shea as an assistant solicitor in its tax solutions group. Parsons was formerly advising on the management of offshore structures for wealthy individuals with both Deloitte & Touche and PricewaterhouseCoopers.
Latham & Watkins has replaced the managing partner of its Los Angeles office after a six-year tenure.
Dewey Ballantine has poached Norton Rose corporate partner Markus Federle, who will restart its private equity push following the departure of the founder of the firm’s German practice Geza Toth.
Editor of Taxation magazine Malcolm Gunn joined the London tax team at Haarmann Hemmelrath as a tax consultant on 25 May. Gunn will focus on personal income and capital taxation.
Fears among lawyers of tax increases caused by an accounting change that values work in progress (WIP) at selling price rather than cost are unfounded, according to Trevor Johnson of the Association of Taxation Technicians.
Cleary Gottlieb makes fourth raid on Linklaters" /Cleary Gottlieb Steen & Hamilton has plucked a fourth Linklaters lateral, this time from its London derivatives and structured products group.
Haarmann Hemmelrath is to split its legal and tax division from audit to comply with the Sarbanes-Oxley Act and German legislation. The policy will be implemented at the end of the firm’s financial year.
Watson Farley & Williams’ New York office has raided Shearman & Sterling for a new partner for the second time in 12 months.
Watson Farley & Williams’ New York office has raided Shearman & Sterling for a new partner for the second time in 12 months.
Dundas & Wilson has recruited its sixth new partner in as many months with a former Tite & Lewis partner.
Milbank Tweed Hadley & McCloy has scored a huge coup by recruiting Freshfields Bruckhaus Deringer’s global co-head of private equity to open its Munich office.
Leading Italian firm Gianni Origoni Grippo & Partners has signed an alliance with tax boutique Vitali Romagnoli Piccardi e Associati, a former ally of Clifford Chance.
Dawsons has appointed a lateral hire of 18 months to senior partner in a bid to drive forward its private client practice.
Leading Italian firm Gianni Origoni Grippo & Partners has signed an alliance with tax boutique Vitali Romagnoli Piccardi e Associati, the former ally of Clifford Chance.
Clifford Chance has signed an exclusive alliance with Italian tax boutique Maisto e Associati, after news that its former tie-up with tax firm Vitali Romagnoli Piccardi will end this month.
Dewey Ballantine has poached Shearman & Sterling tax star Hanno Berger for its Frankfurt office.
Clifford Chance’s associated Italian tax boutique Vitali Romagnoli Piccardi e Associati has dumped the magic circle firm in favour of a deal with flourishing Italian firm Gianni Origoni Grippo & Partners.
Helen Power finds that MOP tax supremo Liam Quirke is a key driver
Lawrence Graham is facing a claim of around £100,000 after being accused of professional negligence over advice it gave to a private client in 1997. The claim is brought by businessman Roberto Rivera and RR Bearer Ltd as a second claimant. Rivera is suing the firm over advice given in relation to tax, trust and company matters – in particular the establishment of the company RR Bearer – and two settlements ...
Given his vast wealth and love of football, Slaughter and May’s tax department is the last place you would expect to find Russian billionaire Roman Abramovich. After all, if he was to make the somewhat bizarre career change to become a lawyer, then surely he would have been better placed to work under the tutelage of
Hands up anyone who remembers development land tax (DLT)? Older readers may recall that DLT was more than just an hirsute radio DJ of long ago. Indeed, the Barker Report, ‘Delivering Stability: Securiing our Future Housing Needs’, published on Budget Day just gone, may have given them a frisson of recollection with its discussion on the possibility of taxing increases in land values ...
Gibraltar has always made itself an attractive place for the wealthy to live. Ben Marrache says it’s becoming even more irresistible
Withers LLP has moved to boost its New York and London offering with a double-raid on US giant Bryan Cave.
Jersey law firm Sinel Group has followed the latest trend of Channel Islands firms setting up in the Caribbean by launching a practice in Anguilla.
Clifford Chance Moscow co-managing partner Hermann Schmitt and tax partner Irinia Dmitrieva have moved to White & Case.
Osborne Clarke’s Belgian ally De Wolf & Partners has launched a tax department, snatching a partner from KPMG correspondent firm Lontings & Partners.
De Brauw partners to vote on recruitment of Freshfields tax heavyweight
Clifford Chance and Freshfields Bruckhaus Deringer are among a number of City firms pitching to advise the Hong Kong government on its first ever securitisation.
Dutch heavyweight De Brauw Blackstone Westbroek is poised to raid the Amsterdam tax team of Freshfields Bruckhaus Deringer.
Recent changes in accounting standards are likely to hit the cashflows of many law firms. Unless they take action, some practices could face severe financial difficulties. The problem is that many partners are going to face a one-off additional tax charge and will have to find ways to fund this. At the very least, these developments will affect the way firms do business and the relationships ...
An imminent tax increase facing law firms may have less of an effect than had first been believed. The tax changes were introduced by a clarification statement on accounting standards which have the effect of valuing work in progress (WIP) at selling price rather than cost.
Boodle Hatfield has completed a major overhaul of its senior management after reorganising the firm to return to its core practice areas in real estate, tax and financial planning. Property head Richard Maughan will replace managing partner Chris Putt, who will continue to head corporate. The 280-year-old practice has also appointed a new chief executive in Nick Temple, formerly a senior partner with Andersen, where he was worldwide managing partner for technology risk consulting. The ...
US firm Kirkpatrick & Lockhart has written a sensational report that paves the way for WorldCom to sue its auditors KPMG.
Boodle Hatfield has completed a major overhaul of its senior management after reorganising the firm to return to its core practice areas in property, tax and financial planning.
A “bombshell” that is about to radically change the way professional services firms account for work in progress (WIP) could put a significant number of firms out of business and will certainly provide all with a significant hike in their tax bill.
A beefed-up tax bill is landing on a doormat near you soon. What are you going to do about it? The answer depends largely on what kind of firm you are, and ultimately how well you manage your finances.
Slaughter and May head of tax Steve Edge has stood down and will be replaced by Tony Beare. Head of finance Richard Slater also intends to stand down, and head of corporate Nigel Boardman recently announced that he would give up his position because “eight years of counting paperclips is enough”. Slaughters’ annual appointments to the management board will proceed as usual this year. Of the 10 ...
Weil Gotshal & Manges has continued its European expansion with the launch of a Munich office. The firm, which already has an office in Frankfurt, will open its Munich branch at the beginning of next month.
Last November, Kent firm Whitehead Monckton underwent a complete rebranding in a bid to raise its profile, not only in Kent but also across the South East. Its aim was to signal that the firm was no longer just a high street practice.
IT project lawyers at Bird & Bird, CMS Cameron McKenna and Wragge & Co had a momentous week celebrating with their respective clients BT, Accenture and Cap Gemini Ernst & Young.
SJ Berwin and Clifford Chance have finally overcome a battle with the Law Society to have German tax advisers, Steuerberater, recognised as foreign lawyers within UK partnerships.
Top-tier Italian firm Bonelli Erede Pappalardo has stolen a march on many of its Italian and Anglo-Saxon competitors by launching its own in-house tax department.
Jersey’s response to the EU and OECD initiatives covering structured finance has ensured it continued success. Alan Stevens and Siobhan Riley report
The Jersey tax treatment of limited partnerships bears close scrutiny. Emily Haithwaite gives the lowdown
TLT has hired its second lateral partner in two months, with the arrival of Martineau Johnson's former head of corporate tax Richard Pincher (right). Pincher has also worked at Wragge & Co and PricewaterhouseCoopers. His recruitment follows that of social housing specialist Paul Butterworth, who joined from Manches in August.
Lovells is gearing up for the implementation of Italy's corporate law reform in January 2004 by hiring two chartered accountants.Domenico Borzumato and Serena Pietrosanti, were previously with Deloitte & Touche in Rome and before that were with Studio di Consulenza Legale e Tributaria, part of Andersen Worldwide.To comply with Law Society rules, both accountants will qualify as lawyers in Italy so that they can join the Lovells partnership.The hires are a significant ...
Field Fisher Waterhouse's intellectual property (IP) practice is teaming up with its tax group to launch a direct attack on the big four accountancy firms.By combining the firm's IP expertise with its transfer pricing knowledge, Field Fisher hopes to offer what it terms "the most comprehensive asset management service in the City".Brands, technology, me-dia and telecommunications ...
McDermott Will & Emery’s London office has been left without a recognised telecoms expert after partner Stephanie Liston resigned to join the London office of Wilmer Cutler & Pickering. Tax partner Jonathan Ivinson is also leaving for the London office of US firm Hogan & Hartson to launch its tax team. Liston’s exit is a serious blow: since joining from
The £220m sale and leaseback of the Inland Revenue and Customs & Excise property portfolio, known as the Steps deal, used to be a matter of pride for Lovells. The deal with Mapeley, on which it advised the Government, confirmed Lovells’ place at the cutting edge of the property outsourcing market. Three years on, it has turned into a tale of tax havens, misinformation and poor project management.
Lovells’ fledgling Italian office has interrupted a 35-year relationship by replacing Carnelutti as Italian brewer Peroni’s main corporate adviser, while Freshfields’ relationship with platinum Linklaters client Scottish & Newcastle, as first revealed in The Lawyer (5 May), has received another boost.
If anyone can make a child cry 'I want to be a tax adviser', it's Theodore Goddard senior partner Paddy Grafton Green, the 'it boy' of the tax world
Clifford Chance is launching a tax practice from its Brussels office with the hire of a partner and team from PricewaterhouseCoopers (PwC) in Belgium.
Plans by the Belgian government to make all non-Belgian EU law firms VAT-exempt have been temporarily abandoned following a successful lobbying campaign. The ruling would have meant that while the law firms did not have to charge their clients VAT on their services, they would have to absorb any VAT costs on overheads.`The Belgian tax authorities issued an administrative circular, which came into effect on 1 January, deregistering all non-Belgian EC law firms for VAT.`The move was designed ...
Addleshaw Booth & Co has appointed a high-profile tax consultant in its Leeds office as a precursor to setting up a private client practice in London.
German firm Haarmann Hemmelrath & Partner has hired a second tax partner for its growing London office.
True, not too many lawyers choose to go into taxation, and those who do get a certain...reputation. Some tax lawyers, though, have hidden depths. Fiona Callister reports
Osborne Clarke has recruited two new partners to its corporate tax team, bolstering its service to new economy clients and establishing a permanent corporate tax function in the City.
Managing partner- who needs it? That's the attitude of Stephen Fiamma, who's calling time on ground hog day at the office and retuning to practice. Dearbail Jordan meets the man who has had enough of committees
With official opposition to the formation of MDPs dissolving in the UK and the US, PricewaterhouseCoopers' global head of corporate development Paul Downing sets out the accountancy giant's plan to dominate the world, says Sean Farrell.
After spending just eight months as head of tax at Eversheds, the man who seems unable to keep his feet in one place meets Dearbail Jordan