Juridicon Law Firm has been ranked among the leading Baltic States tax law firms by World Tax 2017

2017-11-12 06:15

Juridicon Law Firm has been ranked among the leading Baltic States tax law firms (third tier) by World Tax 2017, a comprehensive guide to the world's leading tax firms. 

According to World Tax, researchers have stated that "Juridicon is a Lithuanian law firm with offices in Vilnius that specialises in corporate taxation, VAT and other indirect taxes, investment taxation, tax planning, due diligence and audits as well as offering advice to clients during tax disputes and tax litigation. The firm is a member of the Warwick Legal Network, and a key contact at the firm is managing partner Laimonas Marcinkevicius, who specialises in tax law and is well regarded by his peers in the industry."

The annual World Tax directory is a key resource in assisting tax executives locate specialist advice. Each edition rates the tax expertise offered in more than 50 jurisdictions globally, giving tax executives the most comprehensive information about the market for tax advice.

Globally, the OECD’s base erosion and profit shifting (BEPS) Project 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. Still more jurisdictions are waiting to see how the Project will progress before committing to any action, and others already have legislation which fits – or exceeds – the OECD’s recommendations.

World Tax is unique among directories 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 approach of the revenue authorities in the Baltic States is one that is commonly characterised as aggressive, and 2016 has not seen a change in this reputation. While there has not been an increase in audit activity, the authorities remain determined in audit. 

While it is usually the case that revenue authorities seek to maximise the money they raise, the international focus on tax avoidance and evasion, which has been heightened by the BEPS discussions, has focused the attention of the revenue services in the Baltics on arrangements that are potentially abusive.

The OECD's BEPS project has been the major issue in tax for a number of years across the world, and the Baltic States are not immune to this development.

While it is unlikely that the BEPS provisions will be implemented in full in the Baltics in the next year, it is likely that future legislative developments in the states will be developed with the OECD's proposals firmly in mind.

Please refer to the rankings here.