SORAINEN recognised as “Baltic States Tax Firm of the Year” for the fourth time

22.05.2014

On 21 May, the prestigious publication International Tax Review, part of the Euromoney Legal Media Group, acknowledged ground-breaking work accomplished by SORAINEN in the taxation field. Recognition as Baltic States Tax Firm of the Year 2014 means that SORAINEN has now received this award for the fourth time in the last five years for giving innovative advice on complex tax cases.

“It is not usual for a law firm to win the title of tax advisor of the year in a field where we normally compete with international audit firms. Thus we appreciate this award as an exceptional acknowledgment of our efforts in helping our clients to succeed in solving their ever more international tax issues. In 2013, our regional Tax & Customs Team had an unrivalled track record in complex international tax transactions. We initiated amendments to existing laws or even paved the way for new practices,” notes Jānis Taukačs, partner and regional head of the SORAINEN Tax & Customs Team.

According to International Tax Review, their editorial board judges tax advisors according to the size, innovation and complexity of tax advice provided.

The following transactions advised by SORAINEN are especially highlighted as the most innovative and complex:

  • Advising the Lithuanian Ministry of Finance on tax issues in a Eurobond issue totalling EUR 500 million.
  • Advising the Estonian Association of Mining Enterprises and other sector associations on annulling an increase in environmental charges – the Supreme Court ruled that an increase in the mineral resources extraction charge was unconstitutional. As a result, Estonian companies will be saving up to EUR 34 million thanks to successful advice and support from SORAINEN.
  • Advising British American Tobacco, a leading tobacco group, on excise and customs duties implications in relation to launching their activities through distributors in the Baltics.
  • Advising AVIS, one of the world's best-known car rental brands, on direct and indirect tax aspects related to leasing of vehicles.
  • Advising Trigon, a regional investment bank, on VAT matters and applying for a preliminary ruling related to acquisition of development land.
  • Advising on international VAT fraud disputes with the tax authorities and the courts in Latvia.

Significant clients of the SORAINEN Tax & Custom Team in 2013 included amongst others Roche Lietuva, Det Norske Veritas, Novatours, Helisota, Avena Nordic Grain, Laboratoire Bioderma, and Šiaulių bankas. 

SORAINEN and other shortlisted finalists were independently evaluated by International Tax Review editorial staff, consulting practitioners and tax executives from companies around Europe. The International Tax Review is a trusted publication and online resource for corporate tax directors, policymakers and practitioners. For more than 20 years it has been providing comprehensive international news, opinions, guides to innovative deals, surveys, international updates and interviews with leading tax directors and officials from around the world.

The Baltic States have been evaluated for five years now and to our knowledge this is the only international award that evaluates tax practitioners from the Baltic States.

>> See all the winners (and shortlisted advisers)

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