We are pleased to announce that in this year’s edition of the ranking of the best tax consultancy firms, our Tax Consultancy Team was awarded the title of leader in two categories:
tax consultancy leader with regard to transactions carried out in 2016 for tax advice in three transactions:
- Eurocash’s acquisition of the EKO Holding group;
- Frutarom’s acquisition of 75% of shares in Amco; and the Spanish bank Banco Popular’s acquisition of real estate in Poland as part of the restructuring of the debt of a customer of the bank; and
– leader in innovativeness with regard to tax consultancy for developing the VAT carousel detector – an algorithm for assessing the risk of firms being exposed to tax fraud by their business partners.
With the help of the detector developed by SK&S, it is possible to identify potential ‘carousel’ business partners. This tool is particularly useful in audits carried out by outside firms aimed at identifying potentially dangerous business partners, as well as during mergers and acquisitions. In the latter case, a firm which is planning to buy other entities can check the potential risk of ‘carousel’ tax proceedings occurring in those entities, being the result of, e.g. the dishonesty of their business entities.