The annual World Tax directory, which can
be found at www.itrworldtax.com, is
a key resource in assisting tax executives locate specialist
advice. It rates the tax expertise offered in more than 50
jurisdictions globally, giving tax executives the most
comprehensive information about the tax advisory market. Firms
are ranked according to their depth of tax knowledge and the
quality of their service, after an intensive five-month
research period by staff across three continents.
Across the jurisdictions covered (excluding the US, which is
split into six regions), PwC performed the best –
appearing more than 50 times in tier 1 of the rankings.
Deloitte and EY followed closely, being ranked in the top tier
44 and 42 times, respectively.
However, the Big 4 firms did not completely dominate the top
positions. They failed to get a foothold in tier 1 in France,
where Bredin Prat, CMS Bureau Francis Lefebvre and new tier 1
entrant Arsene Taxand, Taxand France were the top firms. In
Italy, BonelliErede and Maisto e Associati once again triumphed
in the top tier.
|ITR subscribers and firms
which advertised in the guide received hard copies of
World Tax in October
World Tax is unique as it classifies
professional services, law firms and other tax advice providers
together, rather than looking at them separately, because they
undoubtedly compete for work. The fact that this competition
exists is also evident in the regular moves that practitioners
make between law firms and other providers. It is common for
advisers to switch between law firms and Big 4 firms during
New jurisdictions and global trends
In this year’s edition we were delighted to
include a new jurisdiction, Thailand. The
country’s tax market is going through a
particularly exciting period, with a major tax reform underway
and the corporate tax rate having dropped by 10 percentage
points in the past five years. Top firms in the jurisdiction
were Baker & McKenzie, the Big 4 firms and LawAlliance.
Globally, the biggest trend continues to be the
OECD’s Base Erosion and Profit Shifting (BEPS)
Project, which has undoubtedly been the biggest driver of
policy change. Some countries are implementing the
recommendations in full, while others are putting into place
only the minimum requirements called for by the OECD. Several
jurisdictions are waiting to see how the BEPS plan will
progress before committing to any action, and others already
have legislation which fits – or exceeds –
the OECD’s recommendations.
TP Week, International Tax Review's
online-only sister publication about transfer pricing,
published its own directory about advisers, lawyers and
providers in that market.
a comprehensive guide on advisers specialising in this