Besides the growing risks of audits and reputational damage, the kryptonite threatening most multinational businesses today is the digital tax debate. And, if following the OECD's efforts has not been tough enough, many companies are having to plan their tax strategies around the numerous 'supervillains' emerging worldwide in the form of unilateral digital tax measures. For some, the risk of a tax on revenues, rather than profits, could mean bankruptcy.
Furthermore, with some tax authorities given tough targets and bonuses for uncovering more revenues through audits and investigations, taxpayers are having to prepare their documents with the vision of what the world may look like in a decade.
This may be possible for some companies that have an army of 100 or more tax professionals working in-house. However, the 'justice league' for the majority of tax functions consists of merely four or five individuals tackling the tax challenges of the whole world.
This is where advisory firms come into their own. With the firepower of a global network, tax advisory firms can offer taxpayers the expertise and end-to-end advice that could be the difference between success and failure. In some countries, where the tax legislation makes War and Peace seem like a short comic, advisors offer an invaluable service.
Therefore, ITR is pleased to present its 2019 Tax Advisory Survey, ranking firms based on their ability to carry out tax planning work for multinational clients.
They give advice on structures designed to pay the right amount of tax in the right place at the right time, in accordance with both the letter and spirit of the law.
In this spirit, we hope that this year's rankings prove useful to those looking to arm themselves with the strongest advisors. They may not wear capes or have super powers, but many of the firms do have the ability to deal with tax authorities.
Methodology Between October and January, ITR asked its readers, including the tax directors of the world's leading multinational companies, to vote for their top three tax advisory firms in more than 50 jurisdictions across the world. The votes were added up to produce the survey results. No votes from advisory firms were counted and firms could not send submissions to improve their chances of being ranked. The objective of the survey is to recognise any firms that do not appear in our World Tax and World Transfer Pricing guides, for whatever reason, that the market regards highly because they have a particular focus. Or, if there are firms that appear in World Tax and World Transfer Pricing and are known as dependable groups of tax advisors without having any star practitioners, they can also be rated for their excellence in tax advisory matters. This survey should be seen as complementary to World Tax and World Transfer Pricing, which look at the whole profile of a firm, not just its size and its well-known practitioners. This survey specifically concerns firms' overall tax advisory strengths. |
Americas
Argentina
Tier 1
Bruchou, Fernández Madero & Lombardi, Taxand Argentina
Deloitte
KPMG
Marval, O’Farrell & Mairal
Pistrelli, Henry Martin & Asociados – EY
PwC
Rosso Alba, Francia & Asociados
Teijeiro & Ballone Abogados
Tier 2
Asorey & Navarrine
Baker McKenzie
Bulit Goñi & Tarsitano Abogados y Consultores
Estudio O’Farrell
Goldemberg, Saladino, Hermida, Rolando & Asociados
Grupo GNP
Perez Alati, Grondona, Benites & Arntsen
Brazil
Tier 1
Advocacia Krakowiak
Deloitte
EY Terco
KPMG
Lacaz Martins, Pereira Neto, Gurevich & Schoueri Advogados
Lilla, Huck, Otranto, Camargo Advogados
Machado Associados Advogados & Consultores
Machado Meyer Sendacz e Opice Advogados
Mariz de Oliveira & Siqueira Campos Advogados
Mattos Filho, Veiga Filho, Marrey Jr & Quiroga Advogados
Pinheiro Neto Advogados
PwC
Rolim, Viotti & Leite Campos Advogados
Trench Rossi Watanabe (Baker McKenzie)
Tier 2
Barbosa Müssnich Aragão
Castro, Barros, Sobral, Gomes Advogados
Dias de Souza Advogados Associados
Felsberg Advogados
Gaia Silva Gaede Advogados
Lefosse Advogados
Neiva, Barros & Figueiró Sociedade de Advogados
Neves & Battendieri Advogados
Sacha Calmon Misabel Derzi Consultores & Advogados
Siqueira Castro Advogados
TozziniFreire Advogados
Ulhôa Canto Rezende e Guerra Advogados
Canada
Tier 1
Blake, Cassels & Graydon
Davies Ward Phillips & Vineberg
Deloitte
EY
Goodmans
Gowling WLG
KPMG
McCarthy Tétrault
Osler Hoskin & Harcourt
PwC
Torys
Tier 2
Baker McKenzie
Grant Thornton
McMillan
Stikeman Elliott
Chile
Tier 1
Baker McKenzie
Carey
Deloitte
EY
KPMG
PwC
Tier 2
Barros & Errázuriz Abogados, Taxand Chile
Cariola Díez Pérez-Cotapos & Cía
Grant Thornton
Philippi Prietocarrizosa Ferrero DU & Uría
Recabarren & Asociados
Salcedo & Cia
Colombia
Tier 1
Baker McKenzie
Brigard & Urrutia Abogados
Deloitte
EY
Godoy & Hoyos Abogados
Gómez-Pinzón Zuleta, Taxand Colombia
KPMG
Lewin & Wills Abogados
Posse Herrera Ruiz
PwC
Tier 2
Cahn-Speyer, Paredes & Asociados
Garrigues
Mauricio A Plazas Vega Abogados & Cia
Philippi Prietocarrizosa Ferrero DU & Uría
Quiñones Cruz Abogados
SanintRivas
Mexico
Tier 1
Baker McKenzie
Basham Ringe & Correa
Chevez Ruiz Zamarripa
Deloitte
Mancera (EY)
PwC
Tier 2
BaseFirma
Creel García-Cuéllar, Aiza & Enriquez
KPMG
Manuel Tron
Muñoz Manzo y Ocampo
Ortíz Sainz & Erreguerena
Ritch Mueller Heather & Nicolau
Sanchez Devanny
Skatt International Tax Firm
Turanzas Bravo & Ambrosi
Peru
Tier 1
Deloitte
Estudio Echecopar
Estudio Olaechea
EY
KPMG
PwC
Rodrigo Elías & Medrano Abogados
Tier 2
García Sayán Abogados
Hernández & Cía Abogados
Muñiz Ramírez Pérez-Taiman & Olaya Abogados
Philippi Prietocarrizosa, Ferrero DU & Uría
Rubio Leguía Normand
Zuzunaga Assereto & Zegarra Abogados
Uruguay
Tier 1
Ferrere
Grant Thornton
Guyer & Regules
KPMG
PwC
Tier 2
Bergstein Abogados
Deloitte
EY
Posadas, Posadas & Vecino
Rueda Abadi Pereira Consultores
US
Tier 1
Alston & Bird
Baker Botts
Baker McKenzie
Cleary Gottlieb Steen & Hamilton
Cravath, Swaine & Moore
Davis Polk & Wardwell
Deloitte
DLA Piper
EY
Fenwick & West
Kirkland & Ellis
KPMG
Mayer Brown
McDermott Will & Emery
Miller & Chevalier Chartered
PwC
Skadden Arps Slate Meagher & Flom
Sullivan & Cromwell
Vinson & Elkins
Wachtell Lipton Rosen & Katz
Weil Gotshal & Manges
Tier 2
Akerman
Akin Gump Strauss Hauer & Feld
Aliant
Alvarez & Marsal, Taxand US
Andersen Tax
Aptis Global
Caplin & Drysdale
Cherry Bekaert
Covington & Burling
Debevoise & Plimpton
Fried Frank Harris Shriver & Jacobson
Gibson Dunn & Crutcher
Grant Thornton
Latham & Watkins
Morgan Lewis & Bockius
Norton Rose Fulbright
Paul Hastings
Paul, Weiss, Rifkind, Wharton & Garrison
Shearman & Sterling
Sidley Austin
Simpson Thacher & Bartlett
Steptoe & Johnson
Thompson & Knight
Weaver
White & Case
Wilson Sonsini Goodrich & Rosati
Winston & Strawn
Venezuela
Tier 1
Baker McKenzie
Deloitte
D’Empaire Reyna Abogados
Norton Rose Fulbright
Tier 2
KPMG
Mendoza Delgado Labrador & Asociados (EY)
PwC
Rodríguez & Mendoza
Taxand Venezuela
Torres Plaz & Araujo
Asia-Pacific
Australia
Tier 1
Deloitte
EY
Greenwoods & Herbert Smith Freehills
King & Wood Mallesons
KPMG
PwC
Tier 2
Allens
Ashurst
Baker McKenzie
Clayton Utz
MinterEllison
China
Tier 1
Baker McKenzie
Deloitte
DLA Piper
EY
KPMG
PwC
Tier 2
FuJae Partners
Grant Thornton
Hendersen Taxand, Taxand China
Hwuason Lawyers
JunHe
King & Wood Mallesons
O’Melveny & Myers
WTS Global
Zhong Lun Law Firm
Hong Kong
Tier 1
Baker McKenzie
Deloitte
EY
KPMG
PwC
Tier 2
Clifford Chance
Deacons
DLA Piper
Quantera Global
India
Tier 1
Deloitte
Dhruva Advisors
EY
KPMG
PwC
Tier 2
BDO India
Cyril Amarchand Mangaldas
DHC
Economic Laws Practice
Grant Thornton
Khaitan & Co
Lakshmikumaran & Sridharan
Majmudar & Partners
Shardul Amarchand Mangaldas & Co
Sudit K Parekh & Co
TP Ostwal & Associates
Indonesia
Tier 1
Deloitte
EY
Hadiputranto, Hadinoto & Partners
KPMG
PB Taxand, Taxand Indonesia
PwC
SF Consulting
Tier 2
DDTC
GNV Consulting
MUC Consulting Group
RSM Indonesia
Japan
Tier 1
Baker McKenzie
Deloitte Tohmatsu Tax
Ernst & Young Tax Co
KPMG
Nagashima Ohno & Tsunematsu
PwC Japan Group
Tier 2
Anderson Mori & Tomotsune
Grant Thornton Taiyo
Kojima Law Office, Taxand Japan
Mori Hamada & Matsumoto
Nishimura & Asahi
Tokyo Kyodo Accounting Office
Withers Japan, Zeirishi Houjin
Malaysia
Tier 1
Deloitte
EY
KPMG
PwC
Shearn Delamore & Co
Tier 2
Axcelasia, Taxand Malaysia
Baker Tilly Monteiro Heng Tax Services
Lee Hishammuddin Allen & Gledhill
Raja Darryl & Loh
Wong & Partners
New Zealand
Tier 1
Bell Gully
Chapman Tripp
Deloitte
EY
KPMG
PwC
Russell McVeagh
Tier 2
Buddle Findlay
Grant Thornton
MinterEllisonRuddWatts
Simpson Grierson
Philippines
Tier 1
Isla Lipana & Co
Navarro Amper & Co
RG Manabat & Co
SyCip Gorres Velayo & Co
Tier 2
Baniqued Layug & Bello
Du-Baladad and Associates
Quisumbing Torres
Salvador & Associates, Taxand Philippines
Zambrano Gruba Caganda & Advincula
Singapore
Tier 1
Allen & Gledhill
Baker McKenzie.Wong & Leow
Deloitte
EY
KPMG
PwC
Wong Partnership
Tier 2
BDO Tax Advisory
Drew & Napier
Withers KhattarWong, Taxand Singapore
South Korea
Tier 1
Deloitte Anjin
Kim & Chang
Samil PwC
Samjong KPMG
Tier 2
EY
Yulchon
Taiwan
Tier 1
Deloitte
EY
KPMG
PwC
Tier 2
Baker McKenzie
Grant Thornton
Lee & Li
Vietnam
Tier 1
Deloitte
EY
KPMG
PwC
Tier 2
Baker McKenzie
DFDL
Grant Thornton
VDB Loi
Europe, Middle East & Africa
Austria
Tier 1
Deloitte
EY
KPMG
Leitner & Leitner
PwC
Tier 2
Baker McKenzie
Bpv Hügel
Dorda Brugger Jordis
Freshfields Bruckhaus Deringer
TJP-Oaklins Group
Wolf Theiss
Baltic States
Tier 1
Cobalt
Deloitte
EY
KPMG
PwC
Sorainen
Tier 2
Ellex
TGS Baltic
Belgium
Tier 1
Deloitte
EY
KPMG
Liedekerke Wolters Waelbroeck Kirkpatrick
Linklaters
Loyens & Loeff
PwC
Tier 2
Baker McKenzie
Freshfields Bruckhaus Deringer
Mayer Brown
Stibbe
Tiberghien
Cyprus
Tier 1
Deloitte
EY
KPMG
PwC
Tier 2
Baker Tilly South East Europe
Chrysses Demetriades & Co
Consulco
Elias Neocleous & Co
Eurofast Taxand, Taxand Cyprus
Denmark
Tier 1
CORIT Advisory
Deloitte
EY
KPMG Acor Tax
Plesner
PwC
Tier 2
Bech-Bruun, Taxand Denmark
Bruun & Hjejle
Horten
Kromann Reumert
Finland
Tier 1
Alder & Sound
Deloitte
EY
KPMG
PwC
Tier 2
Borenius, Taxand Finland
Hannes Snellman
Roschier
France
Tier 1
Arsene Taxand, Taxand France
Bredin Prat
CMS Bureau Francis Lefebvre
EY
Fidal
Taj – Deloitte
Tier 2
Allen & Overy
August & Debouzy
Baker McKenzie
Clifford Chance
De Pardieu Brocas Maffei
DLA Piper
Freshfields Bruckhaus Deringer
Gide Loyrette Nouel
Linklaters
Mayer Brown
PwC Société d’Avocats
Germany
Tier 1
Deloitte
EY
Flick Gocke Schaumburg
PwC
Tier 2
Allen & Overy
Baker McKenzie
Baker Tilly
Freshfields Bruckhaus Deringer
Gleiss Lutz
Hengeler Mueller
KPMG
Linklaters
NERA
P+P Pöllath + Partners
WTS Germany
Greece
Tier 1
Deloitte
EY
KPMG
PwC
Zepos & Yannopoulos, Taxand Greece
Tier 2
Bernitsas Law Firm
Dryllerakis & Associates
Koutalidis Law Firm
Photopoulos & Associates
UnityFour
Gulf Cooperation Council
Tier 1
Cragus Group
Deloitte
EY
KPMG
PwC
Tier 2
M/HQ
Stibbe
Withers
Ireland
Tier 1
A&L Goodbody
Arthur Cox
Deloitte
EY
KPMG
Matheson
PwC
William Fry, Taxand Ireland
Tier 2
Baker Tilly Hughes Blake
Grant Thornton
Maples & Calder
Mason Hayes & Curran
McCann FitzGerald
Israel
Tier 1
Deloitte
EY
Gornitzky & Co
Herzog Fox & Neeman
PwC
Shekel & Co
Tier 2
BDO Israel
Fahn Kanne & Co
Goldfarb Seligman & Co
KPMG
Meitar Loquornik Geva Leshem Tal
S Horowitz & Co
Yigal Arnon & Co
Italy
Tier 1
BonelliErede
Chiomenti
EY
KPMG
Maisto e Associati
Studio Tributario e Societario (Deloitte)
Valente Associati GEB Partners / Crowe Valente
Tier 2
Allen & Overy
Baker McKenzie
Belluzzo & Partners
Bernoni Grant Thornton
Fantozzi & Associati Studio Legale Tributario, Taxand Italy
Freshfields Bruckhaus Deringer
Hager & Partners
Salvini Escalar & Associati
Studio Tributario Associato Facchini Rossi & Soci
Tremonti Romagnoli Piccardi & Associati
Luxembourg
Tier 1
Allen & Overy
Arendt & Medernach
Baker McKenzie
Deloitte
KPMG
Loyens & Loeff
PwC
Tier 2
ATOZ, Taxand Luxembourg
Bonn Steichen & Partners
Clifford Chance
EY
Malta
Tier 1
Avanzia Taxand, Taxand Malta
Deloitte
EY
KPMG
PwC
Tier 2
Fenech & Fenech Advocates
Netherlands
Tier 1
Baker McKenzie
Deloitte
EY
Freshfields Bruckhaus Deringer
KPMG Meijburg & Co
Loyens & Loeff
PwC
Tier 2
Allen & Overy
Atlas Tax Lawyers
BDO
Clifford Chance
De Brauw Blackstone Westbroek
Grant Thornton
Ryan
Stibbe
Taxand Netherlands
Norway
Tier 1
BAHR
Deloitte
EY
KPMG
PwC
Thommessen
Wiersholm
Tier 2
Arntzen de Besche
BDO
Poland
Tier 1
Deloitte
EY
KPMG
MDDP
PwC
Tier 2
Baker McKenzie
Crido Taxand, Taxand Poland
Dentons
DLA Piper
Grant Thornton
Linklaters
Portugal
Tier 1
Deloitte
EY
Garrigues, Taxand Portugal
KPMG
Morais Leitão Galvão Teles Soares da Silva & Associados
NGMS & Associados – Andersen Tax & Legal
PwC
Rogério Fernandes Ferreira & Associados
Uría Menéndez – Proença de Carvalho
Vieira de Almeida & Associados
Tier 2
Abreu Advogados
CMS Rui Pena & Arnaut
Cuatrecasas
Grant Thornton
PLMJ
Ricardo da Palma Borges & Associados
Russia
Tier 1
Baker McKenzie
Deloitte
Dentons
EY
KPMG
Pepeliaev Group, Taxand Russia
PwC
Tier 2
BDO Unicon
Bryan Cave Leighton Paisner
CMS Russia
Egorov Puginsky Afanasiev & Partners
FBK Legal
Sameta
Taxology
South Africa
Tier 1
Deloitte
ENSafrica, Taxand South Africa
EY
KPMG
PwC
Webber Wentzel
Tier 2
Bowmans
Cliffe Dekker Hofmeyr
Fasken Martineau
Grant Thornton
Werksmans Attorneys
Spain
Tier 1
Baker McKenzie
Cuatrecasas
Deloitte
EY
Garrigues, Taxand Spain
KPMG
Landwell
Uría Menéndez
Tier 2
Freshfields Bruckhaus Deringer
Grant Thornton
GTA Villamagna
Latham & Watkins
PwC
Sweden
Tier 1
Deloitte
EY
KPMG
Mannheimer Swartling
PwC
Tier 2
Grant Thornton
Skeppsbron Skatt, Taxand Sweden
Svalner
Vinge
Switzerland
Tier 1
Deloitte
EY
Homburger
KPMG
Oberson Abels SA
PwC
Tax Partner, Taxand Switzerland
Tier 2
Lenz & Staehelin
MME Legal | Tax | Compliance
Pestalozzi
Schellenberg Wittmer
Tax Expert International
Walder Wyss
Turkey
Tier 1
Deloitte
EY
KPMG
Mazars Denge
PwC
Tier 2
BDO Denet
Centrum Auditing & Consulting
Erdikler, Taxand Turkey
Esin Attorney Partnership (Baker McKenzie)
WTS & Çelen
Ukraine
Tier 1
Baker McKenzie
Deloitte
EY
KPMG
PwC
Sayenko Kharenko
WTS Tax Legal Consulting / KM Partners
Tier 2
Asters
Avellum Partners
Dentons
DLA Piper
International Legal Center EUCON
Law Offices of OMP
United Kingdom
Tier 1
Allen & Overy
Baker McKenzie
Clifford Chance
Deloitte
EY
Freshfields Bruckhaus Deringer
Grant Thornton
KPMG
Linklaters
PwC
Slaughter and May
Tier 2
Alvarez & Marsal, Taxand UK
Ashurst
Bryan Cave Leighton Paisner
DLA Piper
FTI Consulting
Herbert Smith Freehills
Hogan Lovells
Latham & Watkins
Macfarlanes
Mayer Brown
Norton Rose Fulbright
Paul Hastings
Pinsent Masons
Simmons & Simmons
Skadden Arps Slate Meagher & Flom
Sullivan & Cromwell
