Editor's Letter

Georgina Stanley, Head of Global Research and Reporting

Welcome to the first ever Tax Yearbook from The Legal 500 and Legal Business.

It’s been an interesting time for UK tax professionals since Liz Truss and Kwasi Kwarteng’s disastrous mini-budget last autumn. With economic instability still front and centre of minds, this yearbook is one of the first in a series of new practice-focused guides aiming to bring together analysis, interviews and data for a tailored audience.

From corporate tax to VAT and tax litigation, The Legal 500 ranks nearly 100 law firms in the UK alone on the strength of their tax practices, with 70 of these ranked in London, including global giants, national leaders and specialist boutiques, as well as some of the Big Four.

With large multinationals grappling with the introduction of the new Pillar Two regime and authorities including HMRC cracking down on tax avoidance, these partners (and their contemporaries around the world) are extremely busy right now – and most are expecting workloads to increase.

In this issue we’ve canvassed the views of hundreds of clients to identify the London tax practices doing the best job at keeping their clients happy as they deal with these challenges (see feature p45), rating their performance across metrics from team quality to value for money. We’ve also highlighted the firms with the most UK tax rankings and the most ranked lawyers in the UK based on the Legal 500 research.

Elsewhere, we’ve taken a detailed look at the UK introduction of the new Pillar Two global minimum tax regime and what it means for big multinationals, with comment from partners at Allen & Overy, Skadden, Travers Smith and Gibson Dunn on what clients should be looking out for.

Meanwhile, in our Perspectives interview, Dan Neidle – former head of tax at Clifford Chance turned campaigner and headline-maker at Tax Policy Associates – talks about everything from bringing down former Chancellor Nadhim Zahawi to the unpopularity of tax lawyers at parties and growing tomatoes in his new life in the country.

And with content from our partner firms in countries from Luxembourg to Singapore, there should be plenty for everyone to read. We’d love to hear from readers about the issues you think we should be covering, so if you have a burning topic you’d like us to cover in future, please do get in touch.

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Thought leadership: Tax complexities abound for taxpayers and states alike in navigating a fast-evolving international tax landscape

Tax Yearbook 2023

Allen Tan, Dawn Quek and Jeremiah Soh of Baker & McKenzie Wong & Leow provide a glimpse into the challenges arising from the implementation of international tax developments and implications for Singapore’s tax landscape.

Introduction In recent years, international tax developments have taken centre stage. Singapore has certainly not been spared from having to adapt to the plethora of changes which have arisen from the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) 2.0 project, announcements on the implementation of the BEPS Global Anti-Base …

Thought leadership: Hot topics of tax controversy in Latin America

Tax Yearbook 2023

Argentina Like Anne Brontë said ‘… but he that dares not grasp the thorn should never crave the rose… ’. Argentina happens to be an attractive alternative to develop business in South America despite it showing some uncertainty when it comes to its economic situation. Taxes and its tax policy are not an exception and …

Q&A: Dentons (Morocco)

Tax yearbook 2023

1. What are the key tax laws and regulations in Morocco that individuals and businesses should be aware of? The General Tax Code consolidates all the tax laws related to corporate tax, personal income tax, value added tax (VAT), and registration duties. With regard to the municipal taxes to which companies are subject, these are …

Q&A: Deloitte Legal

Tax yearbook 2023

1. What are the main tax laws and regulations that businesses and individuals need to comply with in Uruguay? Main Uruguayan tax laws are comprised within the Tax Law Code and the Tax Office Compilation, where are defined and regulated the main applicable taxes for businesses and individuals. In this sense, such compilation comprehends the …

Q&A: Liedekerke

Tax Yearbook 2023

1. What are the key tax laws and regulations in Belgium that individuals and businesses should be familiar with? The Belgian tax regime is essentially based on the Income Tax Code 1992 (ITC92) and the Royal Decree implementing the ITC92. Income taxes are in principle levied on (i) the total worldwide income of Belgian tax …

Q&A: Tanjib Alam & Associates

Tax Yearbook 2023

1. What are the key tax laws and regulations in Bangladesh that individuals and businesses should be aware of? Like any other advanced economy, tax legislation in Bangladesh broadly consist of three legislations, namely (a) the Customs Act 1969, (b) Supplementary Duty and Value Added Tax Act 2012 (SD&VAT Act) and (c) Income Tax Act …

Q&A: AndPartners

Tax yearbook 2023

Yearbooks: Firm profile: Authors Infogram 1. What is the core philosophy or guiding principle of your law firm? We have six keywords governing the overall philosophy of our firm: SUSTAINABILITY: What makes a business sustainable? In our opinion, respect and regard toward all the resources that contribute to it: the firm’s professionals, whose growth and …


Tax Yearbook 2023

Copy: Tax Yearbook 2023: Q&A: AndPartners Infogram 1. What are the most frequent tax-related problems (main types) encountered by foreign enterprises/individuals in Mainland China? Chinese tax resident/non-resident identification Tax treaty treatment Transfer pricing Cross-border business tax risks Tax registration administration Double taxation/special tax adjustment 2. Use the most concise and clear language to explain the …

Q&A: Dentons (Bolivia)

Tax Yearbook 2023

1. Can you provide an overview of the current tax laws and regulations in Bolivia? Bolivia operates a territorial tax system based on the principle of source taxing income generated by individuals and/or legal entities arising from goods and assets located or used economically within its territory and from any activity carried out in the …

Q&A: Mulenga Mundashi

Tax yearbook 2023

1. What are the key tax laws and regulations in Zambia that individuals and businesses need to be aware of? The Customs and Excise Act; The Income Tax Act; The Value Added Tax Act; The Property Transfer Tax Act; The Mines and Minerals Development Act; and The Skills Development Levy Act. 2. How does the …