BonelliErede advises on group taxation, corporate tax planning and corporate restructuring, and international tax as well as the tax aspects of employee incentive plans and estate planning for private individuals. Other areas of strength include the tax elements of cross border-reorganisation projects, investment funds and financial investments, litigation and transfer pricing. Tax team co-ordinator Andrea Silvestri advised Beni Stabili, an Italian publicly traded company, on the tax aspects of a merger agreement with French company Foncière des Régions (now Covivio). Additional significant matters include Stefano Brunello and Andrea Manzitti acting for Luxottica on the tax issues surrounding its merger with Essilor International. The other names to note are co-managing partner Stefano Simontacchi and Riccardo Ubaldini, while Francesco Nardacchione is well regarded at managing associate level.
Firms in the Spotlight Tax
Valente Associati GEB Partners
Valente Associati GEB Partners is a leading Firm providing legal, tax, transfer pricing and strategic management consultancy services. It advises public companies, large and medium-sized enterprises as well as multinational conglomerates including also SMEs supporting them in every step of their growth, assisting them also before tax authorities at the Courts, at all levels.View Profile...
Tax in Italy
Chiomenti is 'especially well known for structuring matters but the firm also has a strong tax litigation and international tax practice'. The practice has been particularly active in tax matters involving the finance, real estate, luxury and fashion, automotive and energy sectors as well as tax-related private client work and transfer pricing. Head of the tax and tax planning department Raul-Angelo Papotti 'understands what clients need' and of counsel Giovanni Carpenzano is 'great to deal with'. Paolo Giacometti advised Bank of America Merrill Lynch International on the tax aspects of a complex restructuring of its Italian operations, which involved withholding tax exemption issues, tax litigation and the updating of transfer pricing policies. Massimo Antonini, Marco Di Siena and Giuseppe Andrea Giannantonio are also highly rated; Antonino Guida was promoted to counsel.
LUDOVICI PICCONE & PARTNERS
LUDOVICI PICCONE & PARTNERS 'has excellent business knowledge, is client oriented and has deep understanding of complex matters'. The practice advises domestic and international clients on tax structuring matters, including asset protection strategies, private equity fund investments, insurance, financing and real estate; it also has significant experience in trusts. Managing partner Paolo Ludovici and Andrea Prampolini are 'outstanding professionals who make the difference during highly complex tax matters', and Pietro Piccone Ferrarotti and Andrea Iannaccone's 'level of success is outstanding'. Ludovici and Michele Aprile acted for Spaxs on the tax aspects of a €600m institutional placement and AIM Italy listing of the company’s ordinary shares. Loredana Conidi, Stefano Tellarini and Giammarco Cottani are also key contacts; Roberto Cusimano left to found his own firm.
Maisto e Associati is regularly involved in high-profile and sensitive tax matters. The practice is highly rated for its assistance with the tax aspects of M&A and corporate restructurings, taxation of financial instruments, real estate deals, tax litigation, transfer pricing and VAT and indirect taxes; it also advises on the application of state aid rules to tax regimes and assists with the tax affairs of high-net-worth individuals (HNWIs) and ultra-HNWIs. The team advised Gima TT (which designs, manufactures, and sells tobacco packaging equipment and machinery), its controlling shareholder IMA and other selling shareholders, on the tax aspects of Gima TT’s IPO. Marco Valdonio advised ArcelorMittal on the tax aspects of the tender awarded for the acquisition of assets belonging to Ilva (under extraordinary administration). Guglielmo Maisto is founding partner, Marco Cerrato is focused on tax litigation, Aurelio Massimiano is an expert in transfer pricing and international tax, and Gabriella Cappelleri is a highly rated of counsel. Riccardo Michelutti is now with Facchini Rossi Michelutti Studio Legale Tributario.
The 'always available and capable' Tremonti Romagnoli Piccardi E Associati provides a wide range of consultancy and tax advisory services; areas of specialisation include corporate and group taxation, the tax side of M&A, group reorganisations and private equity. Other areas of strength include structured finance and debt restructuring, non-performing loans (NPLs), real estate investments, VAT, transfer pricing and litigation. The 'highly technical' Lorenzo Piccardi, Dario Romagnoli and Antonio Vitali advised Intesa Sanpaolo on critical tax issues related to its acquisition of qualified assets of Banca Popolare di Vicenza and Veneto Banca; and Piccardi and Laura Gualtieri assisted Goldman Sachs International Bank, as mandated lead arranger and original lender, with the Italian tax implications of the financing of an acquisition of a stake in RGI by US fund Corsair Capital. Cristiano Caumont Caimi 'has excellent relationship skills'; other key advisers are Giancarlo Zoppini , Marcello Valenti and Fabrizio Colombo.
Studio Professionale Associato a Baker & McKenzie
Studio Professionale Associato a Baker & McKenzie 'addresses clients' needs'. The practice provides day-to-day tax advice as well as assistance with corporate reorganisations and domestic and cross-border transactions; and the tax litigation and transfer pricing teams advise several clients in the software and digital industry. Mario d’Avossa, who 'delivers efficient analysis', and Carlo Gnetti advised Maire Tecnimont on the tax structuring of its foreign operations and the application of a transfer pricing policy for engineering, production and construction projects. Massimo Giaconia, Francesco Pisciotta, Nicola Crispino and Michele Santocchini are also key names, while Giuliana Polacco, Barbara Faini and Alberto Pregaglia are the counsels to note. Maricla Pennesi left for Studio Legale Tributario in Association with Ernst & Young.
With offices in Rome and Milan, the 'deeply experienced' Di Tanno e Associati 'has a great way with clients' and a longstanding reputation for advising on the tax issues surrounding M&A deals, banking and finance and restructuring; the practice fields advisers with particular expertise in private equity and real estate funds, tax litigation and HNWI. The key individuals are name partner Tommaso Di Tanno, Fabio Brunelli, Renzo Amadio and Domenico Ponticelli. Also highly regarded are Enrico Pauletti, Ottavia Alfano and Paolo Serva.
DLA Piper is 'extremely knowledgeable and practical'. The practice is well known for tax audits and litigation, cross-border reorganisations, tax restructuring, M&A, wealth planning and transfer pricing; it has also assisted with the implementation of the Italian patent box regime, which applies a reduced taxation for income deriving from the exploitation of IP rights. The team advised VF International, known for branded lifestyle apparel, footwear and accessories, on transfer pricing matters. Antonio Tomassini and Christian Montinari co-head the tax department; Alessandro Martinelli is known for tax litigation, tax compliance and international taxation; and the 'outstanding' Andrea di Dio 'intelligently hones in on the best way forward'. Antonio Martino is a highly regarded of counsel and Federico Pacelli, who is responsible for the Italian transfer pricing practice, joined from BonelliErede.
Freshfields Bruckhaus Deringer
Freshfields Bruckhaus Deringer's 'talented team stands out for financial taxation issues'. The practice is also highly regarded for its tax advice on corporate matters, M&A, private equity, cross-border reorganisations, restructuring, capital markets, real estate and Italian patent box work. Other areas of strength are tax audits and disputes. Renato Paternollo is tax head and Roberto Egori is 'available and skilled'. Egori advised Hochtief Aktiengesellschaft, the German arm of Spanish builder ACS, Actividades de Construcción y Servicios, on the tax aspects of its public tender offer to acquire Abertis Infraestructuras, a Spanish conglomerate.
Gianni, Origoni, Grippo, Cappelli & Partners 'has a unique balance of lawyers and certified professional accountants that allows the team to cover any area of tax law'. The practice has particular expertise in tax matters involving aviation and transport and is well known for its experience in tax-related finance matters. Luciano Acciari and Fabio Chiarenza advised Alitalia Compagnia Aerea Italiana and Cityliner on a multi-party tax advance ruling, concerning consolidated tax returns, VAT grouping schemes and income tax during an extraordinary administration procedure. Stefano Grilli, Alessandro Zalonis, Vittorio Zucchelli and Nicola Boella are other key members; Luciano Bonito Oliva and Francesca Staffieri are experienced senior associates.
Legance - Avvocati Associati 'comes up with very creative solutions'. The practice regularly advises clients on tax issues involving real estate, project finance, fashion and luxury, financial institutions and investment funds. Recent matters include advising F2i on the tax aspects of the acquisition of RTR Capital, which manufactures solar energy equipment, from Terra Firma. Claudia Gregori's 'thinking is really out of the box' and Marco Graziani is 'a top individual who is very pleasant to work with'; the counsels to note are Francesco Di Bari and Gabriella Geatti. Luca Dal Cerro was a new arrival in February 2019 from Linklaters.
Biscozzi Nobili Piazza
Biscozzi Nobili recently advised on the tax aspects of high-profile cross-border transactions as well as tax litigation. Oliviero Cimaz has 'excellent in-depth knowledge of international tax aspects'; Francesco Nobili's 'work is excellent'; and Marco Abramo Lanza advised transport and storage company, Italtrans, on the corporate, tax and accounting issues surrounding the acquisition of Mazzocco, a national refrigerated courier that transports fresh food products. Also highly rated are Luigi Garavaglia and Luigi Biscozzi.
CBA Studio Legale e Tributario
CBA Studio Legale e Tributario 'provides in-depth analysis'. The tax department is particularly expert in Italian and international tax laws, national and international income tax planning, indirect taxation, start-ups and re-organisations, and tax litigation. It acted for a pool of lenders, including Mediobanca, on the structuring of the tax provisions of a revolving credit facility agreement for Enel. The team includes Angelo Rocco Bonissoni, Michele Citarella, Giuseppe Alessandro Galeano and Francesco Assegnati, along with senior associates Ernesto Caso and Roberto Commodari.
Cleary Gottlieb Steen & Hamilton LLP
Cleary Gottlieb Steen & Hamilton's 'extraordinarily capable team sees through the details to craft the right strategy'. It focuses on the tax optimisation of M&A transactions, hybrid financing and investment structures, debt and pre-IPO tax restructurings, and employee benefit plans. The practice also acts in tax disputes. Vania Petrella, senior attorney Paola Albano and senior associate Gianluca Russo are the names to note.
Clifford Chance 'addresses matters effectively'. Its areas of expertise include the tax aspects of M&A and restructuring, financial markets and real estate as well as corporate taxation, EU and international tax law, litigation, transfer pricing and indirect taxation. The practice advised Goldman Sachs International on its dealings with the Italian tax authorities in relation to the acquisition of a portfolio of leasing performing loans from Hypo Alpe-Adria- Bank. Practice head Carlo Galli is 'very knowledgeable'; the senior associates to note are Sara Mancinelli and the 'efficient and skilled' Andrea Sgrilli, the latter recently promoted. Former counsel Marco Palanca left for Simmons & Simmons.
CMS is 'highly professional, flexible and available to support clients at any time'. Widely respected for international tax matters and tax disputes, the practice has also developed expertise in digital economy-related tax implications. Stefano Chirichigno assisted HP Italy with the tax evaluation of its acquisition of Samsung Electronics' printer business. Giuseppe Ascoli heads the Italian tax department, Giovanni Calì is 'really impressive', and Beatrice Fimiani and Fabrizio Alimandi are notable counsels. Berardo Lanci was made partner and former GE oil and gas tax director Stefano Giuliano was hired in 2017.
Dentons' areas of expertise in tax include transactions, family businesses and wealth management, and litigation; the practice recently launched a unit dedicated to tax and social security settlement, led by Giulio Andreani. The team advised the shareholders of General Beverage (GB), a beverage vending machine company, on the tax aspects of the sale of their stakes in GB to an investment fund. Andrea Fiorelli is Italy tax head; other key contacts are Fabrizio Capponi and Roberta Moscaroli.
Facchini Rossi Michelutti Studio Legale Tributario is experienced in advising on the taxation of companies, financial institutions, private equity funds and individuals as well as international taxation, tax litigation, management of incentive plans and M&A. Luca Rossi assisted funds managed by BC Partners with the tax aspects surrounding the acquisition of Dentalpro Group. Francesco Facchini is the other name to note. Riccardo Michelutti (now a name partner) was a new arrival from Maisto e Associati.
Hogan Lovells International LLP assists with the tax issues surrounding M&A, capital markets transactions, funds and restructurings; the team also advises insurance, reinsurance and real estate companies on tax issues, evaluates the impact of VAT and sales taxes on businesses, and assists with tax-related administrative law matters and proceedings before the tax courts. Fulvia Astolfi advised Orca Development on the tax side of its acquisition of Fait Plast, which manufactures thermoplastic films. Serena Pietrosanti is an experienced counsel and Maria Cristina Conte is the senior associate to note.
With sector expertise in oil and gas, real estate, technology and automotive, Macchi di Cellere Gangemi is well known for international tax issues (including transfer pricing and advance pricing agreements), tax litigation, real estate deal-related tax issues and private client work. Arnaldo Salvatore assisted Schaeffler with obtaining a VAT refund in relation to EU cross-border chain transactions involving industrial machinery. Bruno Gangemi, Stefano Petrecca and Francesco Capitta are the other highly rated contacts; Antonietta Alfano and Valerio Cirimbilla are experienced senior associates.
McDermott Will & Emery Studio Legale Associato provides 'pragmatic solutions'. The practice covers international tax issues, transfer pricing, withholding tax and patent box matters; other areas of focus include tax litigations, tax advice during international transactions and private equity-related tax implications. The team advised several clients on the strategic review of their transfer pricing policies. Andrea Tempestini is 'always available and proactive', Carlo Maria Paolella heads the practice. Emidio Cacciapuoti advises on the tax aspects of funds. Mario Martinelli is now with CMS.
Nctm Studio Legale works across a variety of practices, including tax litigation, tax advisory matters and the tax structuring of M&A and private equity deals. The practice acted for a German corporate group, which specialises in household appliances, in a complex transfer pricing case. Federico Trutalli heads the tax department, Piermauro Carabellese specialies in international tax, M&A tax structuring and tax litigation, and Guido Martinelli focuses on domestic tax predominantly involving corporate and commercial deals. Paolo Agnesi, Paolo Rampulla and Barbara Aloisi are also key practitioners.
Pedersoli Studio Legale
Pedersoli Studio Legale 'provides an excellent level of service'. The team experienced an increase in tax litigation cases, tax-related restructuring, debt restructuring and M&A, voluntary disclosure matters and generational wealth transfer. Giovanni Bandera is tax head and the 'excellent' Daniela Caporicci is 'competent and supportive'. Andrea de’ Mozzi is also highly regarded.
Pirola Pennuto Zei & Associati's scope of work includes ongoing tax advisory matters, the tax side of corporate deals, tax planning and tax litigation. Fabio Oneglia 'combines excellent knowledge with good sense'; Stefano Tronconi assisted Nexi Capital with the tax issues surrounding the issuance of a listed bond. The team also includes Massimo Di Terlizzi and Francesco Mantegazza.
Salvini Escalar e Associati Studio Legale Tributario fondato da F. Gallo
Salvini Escalar e Associati Studio Legale Tributario fondato da F. Gallo primarily acts for clients from the energy, communications, transport, banking, financial markets and insurance sectors; the practice assists with corporate tax, the taxation of cooperatives, domestic and international tax planning, indirect taxation and litigation. Founding partners Gabriele Escalar and Livia Salvini are highly rated.
Allen & Overy - Studio Legale Associato
Allen & Overy - Studio Legale Associato's 'team has great technical skills'. It recently advised on the tax aspects of M&A, debt capital markets, NPL transactions, investment funds and financial services regulation. Francesco Guelfi and counsel Michele Milanese are 'highly professional', while Elia Ferdinando Clarizia is an experienced senior associate. Francesco Bonichi joined Studio Legale Tributario in Association with Ernst & Young.
Carnelutti Studio Legale Associato
Carnelutti Studio Legale Associato is 'competent, fast and reactive'; the team is experienced in transfer pricing, tax litigation, M&A-related tax matters and tax planning. Gilberto Comi assisted Canada's Nephrocan with the tax side of the establishment of a business; other key members are Paolo Baruffi, Renata Ricotti and Andrea Rittatore Vonwiller . Giuseppe Croce left the firm.
De Berti Jacchia Franchini Forlani
Eversheds Sutherland Associazione Professionale 'delivers quick responses, flexibility and a very individual service'. Marco Melisse is 'outstanding' and Sebastiano Sciliberto focuses on the tax aspects of M&A transactions and corporate reorganisations. The principal associates are Gianluca Nemec and Salvatore Pezzella.
Jones Day 'has the capability to cover different areas and jurisdictions'. The team advised Bank of America on the tax aspects surrounding a credit agreement to finance the acquisition of a portfolio of eight offices and logistics assets. Marco Lombardi and of counsel Luca Ferrari are the principal advisers.
Linklaters' team advises on the structuring of inbound and outbound investments; his practice also includes tax law involving equity and debt capital markets, finance, real estate, M&A and structured finance. Riccardo Petrelli is an experienced managing associate. Luca Dal Cerro joined Legance - Avvocati Associati in February 2019.
La Naia, Di Oronzo & Partners – LDP
Morri Rossetti e Associati
Morri Rossetti e Associati advises on tax-related M&A, advisory work, litigation, compliance and transfer pricing; other areas include expatriate services for executives, fairness opinions, excise duties and asset appraisals. Davide Attilio Rossetti is highly regarded and Fabrizio Gaetano Pacchiarotti is tax litigation head.