American Chamber of Commerce in the Czech Republic. Industry Overview Czech Tax Advisory Service

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1 American Chamber of Commerce in the 2008

2 czech republic LIST OF COMPANIES: Apogeo Baker Tilly, s.r.o. bpv Braun Haškovcová s. r. o. Deloitte Advisory s.r.o. Ernst & Young Euro-Trend, s.r.o. RNDr. Jan Kaucký KPMG Česká republika, s.r.o. Mazars NÖRR STIEFENHOFER LUTZ v.o.s. PETERKA & PARTNERS v.o.s. advokátní kancelář PricewaterhouseCoopers Česká republika, s.r.o. TACOMA VORLÍČKOVÁ & LEITNER s.r.o. White & Case, advokátní kancelář American Chamber of Commerce in the Dušní Praha 1 Phone: Fax: for more information about members go to

3 czech republic Central Represented by: Contact Person: Apogeo Koněvova 2660/ Praha info@apogeo.cz Tomáš Raška, MBA. Managing Partner APOGEO Ing. Jana Polanská Marketing Manager polanska@apogeo.cz Phone Number: Turnover in CZK (2006): Offices in CR: Audit and tax consultancy, including international tax planning, transaction consultancy, valuation of businesses and assets, project financing, accounting and payroll outsourcing Business Consulting BGS Levi Group, CENTRAL GROUP, a.s., KOH-I-NOR Holding a.s., WEBCOM a.s., M&K Development, s.r.o., Akcenta, KLIMENT TRADE s. r. o., Profireal a.s. Praha, Brno, Zlín Complex advisory service package Individualized client oriented approach Proactive monitoring of clients needs Tax Consulting - tax consultancy, mergers & acquisitions, MBO & LBO, international taxation, tax audit, tax due diligence, indirect taxes and custom duties, transfer prices, company and transaction structuring, tax planning and optimization. Trust Services - establishment of foreing companies, special companies (SICAV, captive insurance companies, investment companies), endowment of foundations and trusts, management and administration of companies. Accounting & Payroll - outsourcing of accounting and wage agenda, conduct of double-entry accounting, accounting consultations, IFRS and GAAP accounting standards, international accounting outsourcing, managerial outputs. Evaluations - valuation of companies, valuation of business interests and assets, assistance in the course of legal disputes and arbitrations, expert sevices in for more information about members go to

4 czech republic takeovers, expert sevices in conversions. Audit - audit services, forensic audit, methodology, due diligence, risk audit, business combining, financial statements according to IAS/IFRS. Main trends in the sector: for more information about members go to

5 czech republic Central Representative and Contact Person: Baker Tilly, s.r.o. Hybernská 32/ Praha info@bakertillyczech.cz Tomáš Kortán Director Tomas.Kortan@bakertillyczech.cz Mobile Phone: Turnover in CZK (2006): Offices in CR: Accounting, audit, tax, payroll and HR, company secretarial and nominee services, business consulting Accounting, audit, tax, payroll and HR, company secretarial and nominee services, business consulting international companies from telecommunication sector, importers, retailers, financial services providers, developers and others Prague and Brno; Member of Baker Tilly International network Experienced professional staff Provision of customized complete business services for clients Flexible and individual approach Understanding needs of our clients to support their businesses Accounting, tax, audit, payroll and HR consulting. Main trends in the sector: for more information about members go to

6 czech republic Central Represented by: Contact Person: bpv Braun Haškovcová s. r. o. Ovocný trh Prague prague@bpv-bh.com Arthur Braun M.A. Dr. Thu Nga Haškovcová Ian Rowbotham Lucie Burdová Communication & Events Manager lucie.burdova@bpv-bh.com Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide: bpv Braun Haškovcová is independent full service law and tax firm providing its clients with the solutions that they need in cross border and domestic transactions alike, and covering a range of activities from acquisitions and setting up of a business to regular support in everyday business life including tax structuring of financial and insurance products. Regarding the tax advisory we focus on: Tax planning, Czech and international tax structuring Company reorganization Corporate finance Financing of projects Fund structuring Preparation of financial statements Tax returns Expatriate taxation and social security issues Transfer pricing bpv Braun Haškovcová is a founding member of bpv LEGAL alliance, a network of independent law firms offering cross border legal advisory services from key locations in Central Europe: Brussels, Bucharest, Budapest, Prague and Vienna. Our in-house tax advisors work closely with our lawyers, as well as with our alliance offices, to provide a seamless service to our clients. Our key consultancy areas are: tax and legal advice in corporate and real estate transactions, tax and legal structuring of investments into the, restructuralization. for more information about members go to

7 czech republic Main trends in the sector: Continuous integration of legal and tax consultancies, as well as regionalization of the CEE market. for more information about members go to

8 czech republic Central Represented by: Contact Person: Deloitte Advisory s.r.o. Karolinská 654/ Prague deloittecz@deloittece.com Ing. Michal Petrman Office Managing Partner Eva Usai Blumental Clients & Markets Director eblumental@deloittece.com Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide: ,409,747, Audit, Tax, Consulting and Financial Advisory As the nature of our business is advisory services, our client portfolio covers all industry areas including public sector. Česká a Slovenská Sporitelna, České dráhy, ČEZ, ČSOB, Česká pošta, ING, Matador, Moravia Steel - Trinecke zelezarny, OKD, Raiffeisen bank, SABMiller, Telefonica O2, T-Mobile, Unipetrol, US Steel Deloitte has offices in Prague, Brno, Ostrava and Olomouc. Deloitte Touche Tohmatsu is focused on client service through a global strategy executed locally in nearly 140 countries. Contact for a specific country can be provided by the Czech practice. Deloitte is the only truly multidisciplinary firm whose key functions are all welldeveloped. Our key strengths are top quality audit and tax services combined with strong consulting and financial advisory services. Our strategy is to become the clear market leader as measured by size and reputation with key focus on providing complex multidisciplinary solutions to our clients. In the area of tax and legal consulting, thanks to innovative tax planning, efficient services securing harmonisation with tax legislation and an approach based on quality and added value, we are able to assist your company in eliminating tax-related concerns once for every business transaction. The core business of Tax department of Deloitte is provision of innovative tax consulting and solutions of day-to-day client issues. Due to specialisation of our professionals, we are able to provide top quality services in all areas of tax jurisdiction, e.g. corporate income tax, personal income tax, value added tax and customs, mergers and acquisition, transfer pricing and grants and incentives. Our services covers also provision of compliance and business process outsourcing services. for more information about members go to

9 czech republic Main trends in the sector: Czech legislation has been changed after EU accession due to implementation EU legislation and Czech fiscal reforms. Trends are: transfer pricing advance pricing agreements ecologic and energy taxes implementation mergers and acquisitions - impact on accounting and tax legislation labour law enhancemet - impact on employement taxation introduction of social security and health insurance cap in 2008 introduction of flat tax rate for more information about members go to

10 czech republic Central Represented by: Contact Person: Euro-Trend, s.r.o. Senovážné nám. 978/ Praha eurotrend@eurotrend.cz Jiří Nekovář CEO Václav Okleštěk Executive Officer voklestek@eurotrend.cz Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide: ,1 mil. 23 Tax Advisory Economic and Financial Consulting Property Valuation Transfer Pricing Issues External Quality Assessment of Internal Audit In our core business - tax advisory - we have large experience in fields of taxation of income from securities tax issues concerning intangible assets and intellectual property tax issues concerning value added tax providing legal assistance in the field of tax and fee administration. international taxation taxation of foreigners working in the territory of the We have been member of the international chain of Russell Bedford International since Currently, the network of Russell Bedford International covers more than 70 countries across all continents and also has members in each country of the European Union. ČEZ, a.s., České aerolinie a.s., ŠKODA HOLDING a.s., UNIMEX GROUP, a.s., Čedok a.s., Magistrát hlavního města Prahy, Univerzita Karlova v Praze, JUTA a.s., Leasing České spořitelny, a.s. Prague (Member of Russell Bedford International) We know that the key to doing business successfsully is the proper implementation of business projects as well as fulfilling the customers needs. We help our clients to reach these goals by providing professional advisory services. Furthermore, we are prepared to provide our clients with a complete range of services. Here, we take benefit from the synergies which arise while using the for more information about members go to

11 czech republic experience and experts within the framework of the whole company. Our priorities are high professional standard service, comprehensibility and clarity of recommendations for clients, promptness and accuracy, thorough compliance with legal regulations, observance of the highest ethical standards. We offer our clients professional approach, flexibility, ability to initiate, plan and execute large, complex projects, maximum personal effort to meet our clients requirements, teamwork. Tax advisory services belong to the most important and the widest area of our activities, from both historical and present points of view. Our experts are experienced tax advisers with many years of practical activities in the field of Czech tax law. Among a wide range of services provided, you can find: an ongoing tax advisory tax advisory in the field of Research and Development tax analyses and audits tax planning and tax optimisation legislative service When representing our clients interests before state administrative bodies, we use a method of close cooperation with our clients. We offer qualified legal assistance not only during the tax proceedings, but also in tax issues before courts. Main trends in the sector: for more information about members go to

12 czech republic Central Represented by: Contact Person: Ernst & Young Karlovo náměstí Prague ernstyoung.cz@cz.ey.com Dirk Kroonen Country Managing Partner Slávka Vancáková Marketing Manager slavka.vancakova@cz.ey.com Phone Number: Turnover in CZK (2006): Offices in CR: Assurance, Risk and Business Advisory, Tax Advisory, Transaction Advisory Services All industry sectors including public sector Large Czech and multinational companies, SME and public sector. We provide services to 13 of the Czech top 25 companies and work with 3 of 5 largest banks in the. Prague, Brno, Pardubice, Ostrava/ 140 countries worldwide We work with our clients in a collaborative style, and bring together the right people, in the right place at the right time, to meet the client s needs. It s about combining leading practices, methodologies and tools, together with fresh thinking, and tailoring our service to create a meaningful client experience. Audit and other assurance services range from business insights and leading practices to advice on how to streamline processes and improve controls Risk and Business Advisory, include Financial Risk Management, Enterprise Risk Management, Internal Audit, Technology & Security Risk Services, Fraud Investigation and Dispute Services, Financial reporting processes and controls, Corporate social responsibility services and also Enhancing business performance, Improving project and program success, Increasing the return in information technology investment, Maximum effectiveness in human resources, Management information and cost management optimisation Tax Advisory covers all aspects of Corporate tax as well as VAT and customs planning Transaction Advisory Services cover Mergers & Acquisitions Advisory, Business & Accounting Valuation, Business Modelling, Financial Restructuring & Business Recovery Services, Project Finance & Public Sector, Transaction Support, Quantitative Finance, Valuations Human Capital for more information about members go to

13 czech republic Central Representative and Contact Person: RNDr. Jan Kaucký Pražská Dobřichovice jan.kaucky.eu RNDr. Jan Kaucký Consultant Phone Number: Turnover in CZK (2006): Offices in CR: VAT advisory services, excise tax advisory services, Intrastat compliance, Customs advisory services Consulting, advisory, VAT compliance services, VAT refund services Dobřichovice During my 18 years professional advisory career I have developed considerable expertise in the above areas and nowadays I am an internationally recognized and highly regarded indirect tax specialist. I have a personal approach to my clients. I focus on providing VAT, customs and excise tax solutions for both domestic and international clients trading within Central Europe, namely in cross-border operations with goods and services. Main trends in the sector: Creating of network of indirect tax specialists. Jan Kaucký is a partner in VAT Forum, a European network of tax specialists covering all of the major European Economies, and most EU member States. All partners in VAT Forum are professionally qualified, run their own practices, and previously gained high level experience within major accounting or legal practices within the country in which they operate. If you have business dealings elsewhere in Europe and need top quality, pragmatic and cost effective advice, talk to Jan Kaucký. He will provide you with the basic advice you need and, if you want someone on the ground where you are trading, he will introduce you to the appropriate VAT Forum partner. VAT Forum is a tax network that works and our partners are confident that the services we offer match up to that of any other international network. for more information about members go to

14 czech republic Central Represented by: Contact Person: KPMG Česká republika, s.r.o. Pobřežní 648/1a Praha kpmg@kpmg.cz Ing. František Dostálek Managing Partner Jan Žůrek Partner in charge of Tax Services jzurek@kpmg.cz Phone Number: Turnover in CZK: Offices in CR / Worldwide: billion (October September 2007) 750 (130 in Tax services) Corporate Tax International Tax Financial Sector Tax Services Investment Incentives Mergers & Acquisition Tax Services Indirect Taxes and Customs Personal Tax Real Estate Tax Services Transfer Pricing Financial Services (Insurance, Banking) Industrial Markets (Automotive Industrial Products) Consumer Markets (Consumer Products, Food & Drink, Retail) Information, Communications & Entertainment (Media, Technology, Communications, Travel, Leisure and Tourism) Infrastructure & Government (Real Estate, Building and Construction) ČEZ, a. s. DHL group Cemex group ECM group Siemens group Toyota Peugeot Citroën Automobile Czech, s.r.o. Société Générale group Ingersoll-Rand group CTP Property N.V. BOSCH group Prague, Brno, České Budějovice, Jablonec nad Nisou, Ostrava Business knowledge for more information about members go to

15 czech republic Focus on clients needs Professional staff Market knowledge KPMG assists both local enterprises and foreign investors Corporate Tax Services International Tax Mergers & Acquisition Tax Services Personal Tax Main trends in the sector: We focus on providing comprehensive tax advisory services to both our corporate and individual clients. We provide expertise to our clients to ensure that they are able to comply with all aspects of the tax legislation. Main trends in the tax area: Implementation of EU law and increasing importance of European Court of Justice decisions Main changes in corporate tax law Thin capitalization rules Transfer pricing rules Tax incentives Main changes in personal tax law Tax treatment of employees benefits Social security and health insurance changes for various groups of employees Main changes in indirect taxes VAT group registration Energy Taxes Increasing range of areas in which tax offices can issue advanced rulings Increasing role of Czech court decisions in the interpretation of tax legislation for more information about members go to

16 czech republic Central Representative and Contact Person: Mazars Pobřežní 3 IBC Prague mazars@mazars.cz Jean - François Salzmann Managing Partner, Coordinator for Central Europe salzmann@mazars.cz Phone Number: Turnover in CZK: Offices in CR / Worldwide: mil. (for the season 2006/2007) 115 Audit, appraisal services, internal control and risk management, outsourcing, tax services, advisory. AXA, Bouygues, Česká spořitelna, Calyon, Danone, Donaldson (Caterpillar), Hachette Filipacchi, Lhoist, Léčebné lázně Jáchymov, Ministry of the Environment of the, NVIDIA, O2 Telefónica, Porr, Schneider Electric, Sodexho and others 1 (Prague) / in Slovakia: 2 (Bratislava, Košice), worldwide: present in 40 countries Mazars is a founding member of the international alliance Praxity uniting professionals in the 65 countries which enables us to be helpful to our clients all over the world. Our teams comprise of professionals who gained their qualifications in accordance with local but also international law. Mazars is an international, integrated and independent organization specializing in audit, accounting, tax and advisory services. Our range of services comprises audit, appraisal services, internal control and risk management, outsourcing and tax consultancy. Main trends in the sector: for more information about members go to

17 Audit Internal Control Appraisal Services Risk Management Accounting Tax Consultancy An International, Integrated and Independent organization. A Universal outlook and a European heart. In the and Slovakia Mazars engages more than 170 experts. Present in 40 countries across 5 continents Mazars can due to the diversity of its employees accompany its clients all over the world. Mazars is a member of Praxity - an international alliance of independent accounting firms. For us, international means being open to the world but also adapting ourselves to all the cultural specificities of our partners.» Office in PRAGUE:» Office in BRATISLAVA: Jean Francois SALZMANN Mickael COMPAGNON International Business Center Pob ežní 3 Strakova Prague Bratislava Slovakia Tel. : Tel. : Fax. : Fax. : mazars@mazars.cz mazars@mazars.sk for more info about advertising contact publications@.cz

18 czech republic Central Represented by: Contact Person: NÖRR STIEFENHOFER LUTZ v.o.s. Na Příkopě Prague recepce@noerr.com Jaroslav Melzer Managing Partner Roman Ženatý Local Tax Partner roman.zenaty@noerr.com Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide : Structuring acquisitions, corporate transformations and restructuring projects and provision of advice during their implementation Structuring international transactions and providing advice during their implementation Consulting on international taxation Consulting on corporate income taxation Consulting on value added taxation Taking care of tax aspects of real estate transactions Advice on personal income tax, social security and health insurance Ongoing tax advice, preparation and filing of tax returns, representation before tax authorities Ensuring implementation of payments for clients Keeping financial and payroll accounting records for clients, including reporting Organizing training programs for clients on new developments in tax legislation Oaktree Capital Management Hannover Leasing GmbH & Co. KG Thomas Cook AG CompuGROUP Holding AG Verlagsgruppe Passau GmbH Prague / Berlin, Bratislava, Bucharest, Budapest, Dresden, Düsseldorf, Frankfurt, Kiev, Moscow, Munich, New York, Warsaw Ability to provide our clients with integrated legal and tax advice plus audit and financial advisory services through cooperating partners Ability to quickly assemble for our clients international advisory teams comprising professionals from other branches and cooperating offices and thereby deliver optimal solutions for each project for more information about members go to

19 czech republic Transaction structuring and providing advice during the implementation of transactions International taxation and consultancy on corporate income tax Main trends in the sector: Integration of corporate consultancy services for more information about members go to

20 czech republic Central Represented by: Contact Person: PETERKA & PARTNERS v.o.s. advokátní kancelář Na Příkopě Prague office@peterkapartners.cz Ondřej Peterka Managing Partner Magdaléna Vyškovská Head of Tax Department vyskovska@peterkapartners.cz Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide : Complex business law and tax advisory services Mergers and Acquisitions Corporate Real Estate, Construction and Development Litigation and Arbitration Competition Insolvency and Restructuring Labor Law Intellectual Property and New Technologies EU Law Capital Markets, Banking, Finance Taxation Public Procurement and PPP PETERKA & PARTNERS has provided tax advisory services to a wide range of significant international companies, e.g. Delhaize Group, DO & CO Restaurants & Catering, Renault, Valeo, Vinci Construction Grands Projets. Prague / Bratislava (Slovakia) and Kyiv (Ukraine) We are one of the leading and largest independent law firms in the. With branch offices in Bratislava, Slovakia and Kyiv, Ukraine the firm is able to assist its clients on their business endeavours across the CEE region. Membership of the worldwide networks of independent law firms TerraLex and the ILN further strengthens the firm s ability to secure for its clients complex and qualified services in almost all the countries of the world. As one of only a handful of law firms in the we have a specialized tax practice. for more information about members go to

21 czech republic M&A, Real Estate and Dispute Resolution are the main areas of our practice. In taxation we provide our clients with: A review of complex transactions and particular contracts from a tax point of view Tax optimization Tax advising in day-to-day business, in particular income tax and value added tax Preparing income tax returns (in particular for foreigners) Representation in procedures before tax authorities Tax litigation Tax Due Diligence Main trends in the sector: for more information about members go to

22 czech republic Central Represented by: Contact Person: PricewaterhouseCoopers Česká republika, s.r.o. Kateřinská 40/ Praha pricewaterhousecoopers.cz@cz.pwc.com Stephen B.Booth Managing Partner Lenka Čábelová Marketing & Communications Manager lenka.cabelova@cz.pwc.com Phone Number: Turnover in CZK (2006): Offices in CR / Worldwide : Assurance Advisory Services Tax and Legal Services, Human Resources Services Consumer Industrial Products and Services Financial Services Technology, Information, Communication, Entertainment & Media, Energy & Utilities Czech and international MSE, large companies and corporations, public sector Prague, Brno, Ostrava / 150 countries worldwide A comprehensive range and high quality of professional services Specialised industry services Services in Czech, English, German and Japanese Global background and reach combined with knowledge of local markets and understanding of clients needs Audit and other assurance services, IFRS, US GAAP advise, Sarbanes Oxley 404 integrated audits, financial regulation, corporate governance Investigations and forensic services, business recovery services, performance improvement and transactions support including due diligence, valuation and mergers and acquisitions services Consultancy for the public sector including system, personnel, and performance audit; organisation of public contracts; participation in EU funds projects; project management; PPP; and consultancy for companies requesting EU funds Tax and legal services concerning direct and indirect taxes, tax planning and optimisation, and investment incentives for more information about members go to

23 czech republic Human resource services, including international assignment solutions Main trends in the sector: The s economy and competitiveness have grown significantly, as have foreign investment and Czech investment abroad. Our Assurance, Advisory and Tax Services departments assist our clients with growth, transformations and acquisitions. Our clients recognise the value added to the services we provide, ensuring a lasting change for them, and they also appreciate the comprehensive range of integrated advice provided during the process. for more information about members go to

24 czech republic Central Represented by: Contact Person: TACOMA Bredovský dvůr, Olivova Prague tacoma@tacoma.cz Marek Rosenbaum Managing Partner Darina Noviková Business Development Manager marketing@tacoma.cz Phone Number: Turnover in CZK (2006): Offices in CR: mil. 120 Mergers&Acquisitions, Corporate Finance, Valuation, Tax, Trust Services, Audit, Accounting and Payroll TAX: Mergers & Acquisitions, Tax due diligence, Tax planning and international taxation, Transfer pricing, Private equity, Real estate, Investment funds, Leasing, Representation before tax authorities, representation in disputes with tax authorities, Ongoing tax consultancy and tax compliance services, Taxation of individuals, NGO projects ČEZ, DHL, ECM Real Estate Development Prague, BAU INVEST, Czech Property Investments, EUBE, ICKM GROUP, ING Real Estate Investment Management Czech Republic, Orange Real Estate, V Invest CZ, Danone, JCDecaux, Městský mobiliář, T-Mobile, Nestlé, PPL CZ, MSA, Telefónica O2, Aero Vodochody Prague TACOMA is a Leading Full-Service advisory company providing Integrated services. All services provided must be in the Top 5 in the market. TACOMA provides Effective and Creative Solutions to its clients. TACOMA is the logical choice for Large and Medium-Size Companies, Banks and other Financial Institutions. Our guiding credo is WE UNDERSTAND YOUR BUSINESS and this clearly defines our approach as we consider it paramount to understand and respect the specifics of each client s field of business. TACOMA is a Leading Full-Service advisory company providing Integrated services in respect of Mergers&Acquisitions, Corporate Finance, Valuation, Tax, Trust Services, Audit, Accounting and Payroll. for more information about members go to

25 czech republic Main trends in the sector: Tax reform In terms of the tax structuring of M&A transactions, the tax reforms, effective from 1 January 2008, introduced significant changes. For instance, the new thin capitalisation rules now restrict the tax-deductibility of interest and other financing costs charged by unrelated borrowers. Among other issues, this places a greater emphasis on the structuring of acquisition finance. On the other hand, we perceive the clarification of the tax regime for spin-off de-mergers as a positive step, the result of which will make this tax-neutral form of restructuring even more attractive for divesting a part of a business or property into a separate company. The changes brought by the tax reforms include those affecting personal income taxes. The principle of calculating the tax base of employees has changed completely. Tax is newly calculated based on the super-gross wage. Some changes including the decrease in the tax base also affect individuals self-employed persons. In addition, the corporate income tax rate and the VAT rate have been changed. Significant changes include a new regulation of finance lease, changes in asset depreciation, extension of tax exemption on income, etc. Under the new rules, gifts between direct relatives, spouses and some indirect relatives are not subject to tax. In accordance with the EU Accession Treaty, environmental taxes (i.e. taxes on solid fuels, gas and power) have been incorporated in the Czech tax system. The public finance reforms have also affected social security and health insurance, for example by introducing a maximum limit for the calculation of employee health and social charges. for more information about members go to

26 czech republic Central Representative and Contact Person: VGD, s. r. o. Bělehradská Praha vgd.prague@vgd.cz Vaclav Podzimek Partner vaclav.podzimek@vgd.cz Phone Number: Mobile Phone: Turnover in CZK: Offices in CR / Worldwide: mil. 100 Audit, Taxes, Accounting, Payroll Services, Business Consulting General AIG Lincoln CZ, Baumatic, Conoco, Dutko Worldwide Prague, AGC Group, Goodyear Dunlop Tires Czech, Johnson Controls International, KBC private equity, LG Electronics, ProLogis, Toyota Tsusho Europe Prague, Mlada Boleslav, Olomouc, Liberec / Belgium, Luxembourg, Germany, Poland, Slovakia, Hungary, Bulgaria (30 offices in total) Peronal service, local roots, vocational expertise Taxes, accounting and auditing Main trends in the sector: Consolidation for more information about members go to

27 czech republic Central Represented by: Contact Person: VORLÍČKOVÁ & LEITNER s.r.o. Jungmannova Praha office@vorlickova.com Lucie Vorlíčková General Manager Lucie Vorlíčková Partner Tax Advisory Services lucie.vorlickova@vorlickova.com Phone Number: Turnover in CZK: Offices in CR / Worldwide: Tax, Audit, Accounting and financial consulting International and local taxation, expatriate taxation, assistance in legal actions against tax assessment (e.g. field tax audit, tax litigation), tax due diligence, mergers & acquisitions, private equity funds, tax structuring. International clients mainly in the sectors energy, retail, real estate, leasing, automotive and manufacturing Prague / Vienna, Linz, Budapest, Bratislava, Ljubljana, Zagreb, Salzburg Long tradition and high reputation in, as member of Leitner+Leitner Group one of the leading advisory companies in Central Europe with high technical expertise, flat hierarchy with close partner attention providing best solutions. Within our areas of practice we are focused on international tax structuring, assistance in disputes with financial authorities, mergers and acquisitions and private equity, European Law. Main trends in the sector: Since entrance to EU the national tax system is significantly influenced by EU law, not only concerning indirect taxes, but also concerning direct taxes, which is partly also due to binding ECJ (European Court Decisions). The fight against tax fraud, especially in the field of VAT, will play a dominant role and will support cooperation of national and international authorities. In connection with globalization the aspect of tax optimalization is one decisive factor for international companies and the countries compete in providing most benefits. In the past main focus was on favorable tax rates, but now also simplification of tax system and administration and legal certainty are decisive factors. For tax advisory services we see a real chance for regional advisory companies to compete with the for more information about members go to

28 czech republic Big Four. The Big Four are increasingly conflicted with audit and (tax) advisory services and there is a tendency that the Big Four will more focus on audit services. A key factor for success is competence in local and international taxation, which requires an international network of excellent advisors and investment in training of people. for more information about members go to

29 czech republic Represented by: Contact Person: White & Case, advokátní kancelář Na Příkopě 850/ Praha Jan Matějček Managing Partner Aleš Rudišar Marketing Manager arudisar@whitecase.com Phone Number: Turnover in CZK: Offices in CR / Worldwide: (15 Tax advisors, 56 Lawyers) Tax Services : Corporate tax; International tax; Transaction taxes; Tax structuring; Personal tax & SSHI; VAT; Customs; Mergers and Acquisitions; Banking and Financial Services; Capital Markets; Energy, Utilities and Project Finance; Private Equity & Venture Capital; Real Estate and Construction; Greenfield Investment; Corporate and Commercial Services; Telecoms, Information Technology and Intellectual Property; Litigation and Arbitration; Restructuring and Bankruptcy.International and local taxation, expatriate We provide comprehensive legal and tax services to both international and domestic clients operating in the and across the CEE region. AIG Funds; Česká spořitelna/erste Bank; ČEZ; ČSOB/KBC; GE Money Bank; GE Real Estate; ING Real Estate Funds; JP Morgan; Klepiere; Komerční banka; Merrill Lynch; MidEuropa Partners; PPF Group; RWE/Transgas; Unipetrol; Zentiva. 1 / 36 Only law firm with sufficient capabilities to provide a full-range of tax services; Tax and legal services under one roof ; Only law firm capable of sophisticated international tax structuring of a wide range of commercial transactions. 1) International tax structuring; 2) Domestic tax structuring of corporate reorganizations, finance transactions; for more information about members go to

30 czech republic 3) Comprehensive tax services in connection with M&A transactions including tax and legal Due Diligences; 4) Corporate income tax; 5) Personal income tax + SSHI, ESOP structuring; 6) Tax litigation, administration and negotiations with authorities; 7) VAT advice. Main trends in the sector: 1) Separation of tax and audit services, tax compliance/accountancy and tax planning/structuring; 2) Combined tax and legal structuring of complex transactions; 3) Sophisticated international tax structuring; 4) Diversification of tax services market; 5) More detailed and consistent role of domestic courts in tax matters; 6) Continuing uncertainty about the role of EU in direct taxes. for more information about members go to