Borenius has a 'long-standing working relationship' with clients on a domestic and international level, and covers the full spectrum of tax advisory services, including handling tax disputes, M&A transactions, indirect tax issues, real estate tax work and transfer pricing mandates. The team also regularly advises industrial corporations and private equity houses on the structuring of large M&A deals. Janne Juusela leads the practice and specialises in M&A tax matters, corporate restructurings and tax litigation. Corporate tax experts Einari Karhu and Heikki Wahlroos are also key names to note.
Tax in Finland
Other key lawyers:
Einari Karhu; Heikki Wahlroos
‘We have a long-standing working relationship with Borenius and especially the partner in charge, which enables for a honest and straightforward relationship.’
‘Heikki Wahlroos is always easily reachable and ready to assist. We value his solution-orientated and business-minded approach highly.’
Nokian Tyres Plc
Morgan Stanley Real Estate Investing
Intera Partners Buyout Funds
Aberdeen Standard Investments
- Advised Vaaka Partners on the sale of Kotikatu, Finland’s largest property services company with approximately 6500 housing cooperatives as clients.
- Represented CapMan Real Estate in tax litigation regarding carried interest in Finnish courts.
- Advised a consortium of Finnish energy companies on combining the electric retail sales businesses and service businesses to create a joint venture.
Hannes Snellman has a strong track record in tax disputes, and handles tax matters relating to complex transactions, with experience in cross-border work. The team is also active in the structuring of financial instruments, incentive schemes, private equity work, venture capital issues and other types of investment funds; indirect taxation and private wealth tax mandates are core strengths. Piia Ahonen, who has extensive experience in the retail, manufacturing and real estate sectors, leads the indirect tax team, while litigator Heikki Vesikansa heads up the entire tax group.
Heikki Vesikansa; Piia Ahonen
‘Hannes Snellman’s Finnish tax practice is a highly regarded team with great experience and a solid commercial understanding. They have in my experience great technical skills within the field of VAT and are always available on short term notice.’
‘Specialist partner Piia Ahonen is very technically skilled within the field of VAT and indirect taxation, where she is second to none. Further, she has a great team of talented practitioners.’
‘Good overall knowledge of all tax issues and strong on M&A tax services.’
‘Head of tax practice Heikki Vesikansa has a good customer approach. Furthermore, he has a vast knowledge of different tax types and it is always nice to discuss/share ideas with him relating to different tax topics/issues.’
Skandia Fastigheter AB
J.P. Morgan Asset Management
City of Espoo
- Represented real estate investors in landmark transfer tax disputes confirming that no transfer tax is payable on the refinancing of real estate company’s bank loans or purchase of shareholder loans, overruling the established Tax Administration practice.
- Advised a German real estate investor on the acquisition of sizeable office properties. The tax team advised on tax due diligence, structuring and SPA negotiations.
- Advised Smartly.io and its owners on the sale of a majority stake to Providence Equity Partners for €200m.
The 'solution-oriented' team at Roschier regularly provides tax advice on national and cross-border transactions including M&A, private equity deals, real estate matters and tender offers. The team has 'excellent availability' and provides 'good quality support' to its client roster, which encompasses Nordic and international private equity companies and foreign multinationals. Mika Ohtonen, who has extensive experience in cross-border transactions and international taxation, and Ossi Haapaniemi, who has significant expertise in tax advisory work and tax disputes, jointly head up the department.
Mika Ohtonen; Ossi Haapaniemi
‘Flexibility, well on target with competence, excellent availability, good quality support during an exceptional period and environment for business. Good project management and control.’
‘Best legal tax advice money can buy. Thinking is always solution-oriented and the team will come up with concrete advice in any situation.’
‘Ossi Haapaniemi – the best legal tax adviser.’
Esperi Care Group
Nets Holding A/S
Trevian Asset Management
IK Investment Partners
Assa Abloy AB
Stora Enso Oyj
Bravedo Group (ex. Barona Group)
- Advised Neles Corporation on Alfa Laval AB’s recommended public cash tender offer for all shares in the client.
- Advised Boels Topholding B.V. on its public cash tender offer for all shares in Cramo Plc, a European equipment rental services company.
- Advised materials technology and recycling group Umicore on the acquisition of Freeport Cobalt’s cobalt refinery and battery cathode precursor operations.
Castrén & Snellman's tax practice is particularly recommended for work arising from M&A deals and complex international and domestic restructurings; it also has notable expertise in private equity and venture capital-related matters. Group head Sari Laaksonen is a highly regarded tax litigator.
Siemens Business Services
Danske Bank A/S, Finland Branch
Nordea Bank Abp
OP Financial Group
Fennia Mutual Insurance Company
FIM Asset Management Ltd
Wolt Enterprises Oy
- Advised Siemens Osakeyhtiö on its partial demerger into Siemens Energy Oy as part of a global reorganisation in which the gas and power business was carved out from the rest of the Siemens group.
- Advised a consortium of banks on the sale of Automatia Pankkiautomaatit Oy to cash handling company Loomis AB.
- Advised OP Cooperative (a major Nordic bank) on the sale of its headquarters to an investor conglomerate.
Dittmar & Indrenius focuses on transactional tax advice, tax litigation and complex tax advisory work, with M&A tax work including the structuring and tax optimisation of corporate and financial transactions, investment funds and incentive schemes. Clients include multinational groups, investors, banks and financial institutions. Practice head Kai Holkeri focuses on general corporate tax work and tax disputes, especially related to transfer pricing issues.
AMP Capital Investors
HANSAINVEST Real Assets
AXA Real Estate
The Association of Finnish Local and Regional Authorities
SL Capital Partners
Wipunen Asia Capital
Elite Asset Management Plc
Macquarie Infrastructure and Real Assets (MIRA)
Allianz Capital Partners
The State Pension Fund of Finland
- Represented a global bank in a dispute related to withholding taxes.
- Advising Telenor on the €3.1bn acquisition of DNA; the largest cross-border acquisition of a Finnish target in 2019.
- Acted for a US multinational in a significant transfer pricing dispute relating to IP transfers.
The tax practice at Waselius & Wist focuses on high-end transaction-related tax mandates, legal structuring issues and tax litigation. Other key areas of work include corporate reorganisations, acquisitions, spin-offs and other tax dispositions, joint ventures, financings, and restructurings. The department's litigation expertise encompasses EU, transfer pricing, constitutional and VAT disputes. Niklas Thibblin and Jouni Weckström jointly lead the team.
Niklas Thibblin; Jouni Weckström
‘Very hands-on, pragmatic and effective advice.’
‘Niklas Thibblin is a true star and a great pleasure to work with.’
‘ W&W has a sufficiently broad yet very closely knit team of professionals capable of efficiently addressing virtually any tax issue.’
‘Niklas Thibblin is one of the foremost tax lawyer of the firm and a very good one, too.’
Santander Consumer Finance
The Royal Bank of Scotland
HiQ International AB
- Advised Santander on the securitisation of auto loan hire purchase contracts involving complex tax issues, including VAT questions in relation to the financed vehicles and permanent establishment issues.
- Acted for a large international group in a significant tax ruling process with the Finnish Central Tax Board.
- Advised Loomis AB on its acquisition of Automatia Pankkiautomaatit Oy from present owners Danske Bank, Nordea and OP Financial Group.
The full-service tax practice at Bird & Bird advises domestic and international companies, individuals, families and non-profit organisations on matters including corporate income taxation, M&A-related tax services, VAT and other indirect tax, personal tax, transfer pricing and fund structuring mandates. The team is led by Sami Tuominen, who is experienced in cross-border issues as well as tax controversy matters and litigation.
UBS and its clients
Danske Bank and its clients
Lehto Group Oyj
Mitsubishi Electric Corporation
Delivery Hero Sweden AB
Romanoff Lattiat Oy
Wasserman Media Group
- Advised Finnish national electricity transmission grid operator Fingrid Oyj on tax matters related to cross-border employment work.
- Advised Mitsubishi Electric Corporation on its strategic cross-border investment into EKE-Electronics Ltd, whereby Mitsubishi Electric Corporation acquired a 34% stake in EKE-Electronics from EKE-Finance Oy.
- Advised Highrapids Oy on the sale of all the shares in Högfors Oy to ARI-Armaturen GbH.
At KPMG in Finland, indirect tax expert Juha Sääskilahti is the key contact and leads the group, which is able to draw on the wider firm's global footprint to assist with cross-border corporate tax mandates. The team also handles indirect taxation issues and tax litigation.
The team at Krogerus is particularly recommended for matters arising from M&A, real estate and infrastructure mandates, and has a significant track record in cross-border work. The practice also provides strategic advice and assists with compliance issues. Practice head Antti Lehtimaja is experienced in tax work relating to private equity and real estate transactions, and fund formation matters.
Providence Equity Partners
One Equity Partners
- Advised Savills Investment Management on the tax structuring of a sale and lease-back acquisition of a logistics property from the global transport and logistics company DSV.
- Advised Solera Holdings, Inc. on the tax structuring of the acquisition of Finland-based property claims solution provider in4mo Oy.
- Provided European Energy Exchange AG with tax advice related to its acquisition of the shares in Grexel Systems Oy, a Finland-based provider of energy certificate registries in Europe.