OREANDA-NEWS. April 24, 2012. The regional SORAINEN Tax & Customs Team has been shortlisted among TOP 5 finalists for the “Baltic States Tax Firm of the Year 2012” and “Baltic States Transfer Pricing Firm of the Year 2012” awards from the International Tax Review, reported the press-centre of SORAINEN.

This is the third year in a row when SORAINEN has been nominated for these awards since 2010 which was the first year the Baltics were rated. The firm won the “Baltic States Tax Firm of the Year” award both in 2010 and 2011. This year the awards will be presented on 16 May in London. In the list of TOP 5 finalists in both nominations SORAINEN stands next to three Big4 audit firms and another law firm.

Partner and regional head of the SORAINEN Tax & Customs Team Janis Taukacs comments the nominations: “We have worked really hard and taken on the most challenging client cases thus the whole team is proud to see the SORAINEN name in the shortlist also this year. Complexity of cases increases every year, but also the increased level of competence of our tax lawyers successfully responds to that tendency.”

The European Tax Award 2012 applications are judged according to size, innovation and complexity of client cases handled in 2011. SORAINEN entered the competition with advice on several complex, cross-border cases including:

Advice to Hitachi, a leading international technology company, on tax structuring, VAT, customs and other taxation issues related to the Visaginas nuclear power plant project in Lithuania. This is the largest and most complex project in the Baltic States since they regained independence and Hitachi will be involved as a strategic investor and EPC contractor.

Successful representation of Stockmann, a leading Nordic department store, in overturning the decision of Latvian taxation authorities in a dispute whether services can be qualified as consulting.

Representation of Sodra, a large regional forestry group, in a precedent court dispute on an assessment by the Estonian Tax and Customs Board of VAT and corporate income tax for the overall tax obligation of EUR 1.9 million including interest.

Since 1990, International Tax Review has established itself globally as the most authoritative and lively magazine dedicated to international tax strategy.  International Tax Review forms part of the Euromoney Legal Media Group, with offices in London, Hong Kong and New York. Other magazines in the group include International Financial Law Review and Managing Intellectual Property.