In 2018, our clients entrusted us with resolving their most complex tax issues. This did not go unnoticed by the International Tax Review (ITR), the leading publication for tax professionals. On 16 May 2019, ITR presented Sorainen with the Baltic States Tax Firm of the Year award for the eighth time.
Creating added value for our clients
We received the award because of the added value that our team’s all-round connectedness enables us to offer to our clients. Comments Jānis Taukačs, head of the Sorainen Tax practice: “Our tax specialists from the three Baltic states and Belarus work as one team, combining their experience and know-how to solve high-end tax or customs issues. Clients value the fact that we offer both legal and tax expertise, which allows putting tax issues in a wider corporate context. Additionally, being a member of the international “WTS Global” tax professionals’ network we are able to connect growing businesses with the international market and international businesses with local expertise.”
Major projects in the Baltics in 2018
Our projects that we believe really stand out in the market in 2018 would include:
- Advising the Estonian, Latvian and Lithuanian governments on a pan-Baltic project aimed at introducing covered bonds and securitisation legislation. The purpose of the legislation is to ensure greater opportunities for financial institutions to attract funds and finance business, thus contributing to long-term economic growth in the region.
- Constitutional Court victory in Latvia over Solidarity tax. We prepared more than 30 constitutional claims challenging the constitutionality of the solidarity tax, which was introduced in Latvia in 2016.
- Assisting the leading provider of liquified natural gas as marine fuel in the Baltics. We advised the client on VAT, customs and excise-related questions in Estonia and Lithuania and helped to identify optimal solutions to enable smooth operations.
What is the ITR and why is this award important?
ITR is the most trusted publication and online resource for corporate tax directors, policymakers and practitioners. Each year independent ITR editorial staff and tax law professors, consulting practitioners and tax executives from companies around Europe evaluate firms and present awards based on criteria such as size, innovation, complexity and impact.