Legal developments occurring within the EU and the international community, as well as within the framework of bilateral and multilateral relations among States, are bound to play a pivotal role in the restructuring strategies of multinational enterprises.
Thanks to the constant and proactive participation of international and supranational key organizations and associations, our “International Tax” team has been paving the way for guidelines, positions, and principles impacting strategic and entrepreneurial group policies.
Our “International Tax” team renders consultancy services and professional assistance on EU and international tax issues involving multinational enterprises and corporate groups on the following aspects:
restrictions, advantages, application scope of Double Tax Treaties;
implications linked to the existence and the application of bilateral or multilateral treaties regarding information exchange matters;
application of EU provisions regulating cross-border income flows;
analysis and further investigation of tax variables impacting strategic and business choices of multinational groups;
assistance and support in foreign expansion procedures (incorporation of subsidiaries and holding companies, opening of new representative offices, etc.);
consultancy and assistance on tax issues regarding foreign permanent establishments of Italian companies as well as Italian permanent establishments of foreign companies;
analysis and exploration of tax issues and relevant implications relating to extraordinary cross-border operations within an EU and an extra-EU framework (i.e., mergers, de-mergers, corporate contributions, participations exchange, etc.);
analysis and in-depth investigation of the various issues pertaining to corporate residence, in the light of domestic and treaty provisions as well as any applicable EU principles;
analysis and in-depth examination of EU and non-EU VAT aspects.
We will help you implementing strategies that will minimize your tax risks/exposures and result in minimized cost compliance.
Our multidisciplinary and integrated teams are a distinctive success factor for internationalization’s projects (ensuring different competences: legal, fiscal, commercial, strategic) and a guarantee of an excellent service.
analysis and further investigation of tax variables impacting strategic and business choices of multinational groups;
analysis and in-depth investigation of the various issues pertaining to corporate residence, in the light of domestic and treaty provisions as well as any applicable EU principles.
Avoid unnecessary risk. Our Teams will help you avoiding many of the pitfalls of setting up business in a new country, while helping mitigating risk in the expansion process.
Some of our services include:
Tax Treaties/ Exchange of Information
Crowe Valente team renders consultancy services and professional assistance on EU and international tax issues involving multinational enterprises and corporate groups on the following aspects:
implications linked to the existence and the application of bilateral or multilateral treaties regarding information exchange matters.
The team also provides assistance to governmental authorities in negotiations of bilateral and multilateral agreements between/among States and between/among States and supranational institutions on the following matters:
elimination of double taxation;
enhancement of investments;
information exchange, tax transparency and international administrative cooperation.
We carry out substantial and ongoing policy-making activities in all EU and international tax areas, through the active participation of working groups established with EU institutions, the OECD, and other important organizations and associations operating on a supranational level.
Within the current international landscape, monitoring tax policy developments, planning and compliance assume a crucial importance in the board room, in order to minimize tax risks.
Our Tax Policy Team renders consultancy services and professional assistance on some of the following aspects.
Updates/advice on expected regulatory changes as well as on topics related to Base Erosion and Profit Shifting, (hereinafter, “BEPS”), such as:
We were shortlisted both in 2018 and in 2016, by International Tax review (ITR) for the European Awards - European Tax Policy Firm of the Year (2015) and (2017) among the big Players of the Tax & Legal market.
The “Corporate Tax” team renders consultancy services and assistance on direct and indirect tax matters pertaining to multinational groups and enterprises as follows:
analysis of tax treatment of income flows;
assistance and support in all procedures relating to the incorporation of companies and further investigation on tax-derived consequences;
analysis and in-depth investigation of topics and tax implications relating to national extraordinary operations (i.e., mergers, de-mergers, corporate contributions, participation exchanges, etc.);
analysis and management of tax risks entailed by internationalization operations of multinational enterprises, by means of the drafting and submission of rulings;
planning and management of intergenerational business transfers;
We provide a range of corporate tax compliance services to support the needs of our corporate tax clients, ranging from a fully outsourced tax compliance and advisory function, through the assistance on preparation of tax figures for inclusion in accounts.
Our integrated team of accountants, lawyers, engineers will drive you though the process of understanding the requirements of the various incentive schemes available in Italy or abroad.
Depending on your needs, we can support throughout the entire process or some parts of it, including:
Tax reimbursements can be time consuming – our team of professionals will help you dealing with all the steps and procedures required to ensure that you succeed in getting your tax reimbursements on time.
Our Team is well experienced and include extensive experience also in view of our outstanding relations with the Tax Authorities and procedures.
There are many different types of tax rulings, including APAs, available to taxpayers in Italy. First, there are advance agreements for enterprises with international activities (advance agreements), including (i) unilateral, (ii) bilateral, and (iii) multilateral agreements between two or more related companies and the respective tax administrations in the countries where they are located.
Another option available is the use of advance tax rulings on new investments.
Furthermore there are various types of tax rulings that follow the same procedures for request and issuance:
Our Teams are well experienced and include extensive experience in view of our outstanding relations with the Tax Authorities and former results achieved.
Patent Box procedures require an in depth analysis of the value chain; analysis of economic decisions of the company as well as the preparation of benchmarking studies to identify the correct value of the IP at stake.
Patent Boxes will allow considerable savings by company and has proved to be a good incentive for new/current investments.
Ensuring the nexus approach is also important – in line with the latest policy recommendations at worldwide level.
Our team is well placed to better advise on the above mattes.
Our Team will help businesses and individuals determining the best tax strategies available, for an efficient tax structuring. Based on our specialization we are in a position to deliver expedient custom-tailored solutions for clients wherever there is a need for detailed structuring and planning.
Within the services provided, you will find:
Management of extraordinary corporate transactions: legal consultancy on extraordinary operations in general (i.e., mergers, de-mergers, contributions, corporate acquisitions/transfers/rentals) as well as leverage buyout, management buyout and restructuring of corporate groups for entities operating in various economic and industrial sectors in Italy and abroad.
Support to the company’s management includes:
Creation and management of corporate procedures and policies: preparation of documentation to provide a valid support to the relevant operators involved, while minimizing, at the same time, any legal risks the company might incur and simultaneously ensuring compliance with the various applicable rules in force.
Legal opinions: this activity has the purpose of anticipating any legal/juridical outcomes and/or consequences as well as the validity and effectiveness of the corporate structures and initiatives and of the single texts and contractual clauses:
Our dedicated team of tax professionals will work closely with you throughout this process.
Corporate due diligence activities: analyses and investigations to assess companies’ value and conditions in order to avoid any potential detrimental effects, by identifying risk areas and latent or possible critical areas that might ensue:
Assistance in the development of transfer pricing policies
Assistance during the assessment procedures carried out by Tax Authorities and in the pre-litigation and litigation phases.
CbCR regulation poses some challenges for multinational groups:
Companies which meet the CBCR requirements need to be ready to provide information on their global allocation of profit, taxes paid, and certain indicators of economic activity.
Our integrated team of professionals, including industry specialization, are particularly skilled in managing Financial Transfer Pricing projects, supporting our multinational clients in determining the correct and suitable arm’s length pricing for financial transactions within the group (design – implementation – defense/risk management).
Our team of experts provide assistance and support on the design or review of their TP policies in order to manage financial flows within the group, analyzing companies’ ratings, intra-group financing (loans, cash-pooling, etc.), and assessing potential risks.
Depending on your needs, we can help you on:
Dispute resolutions are expected to increase within the current scenario and transfer pricing is one of the hot topic for tax administrations worldwide.
Many multinational Groups have been increasingly requesting our consultancy on International Rulings and Advance Price Agreements (both, unilateral and bilateral) in view of our outstanding relations with the Tax Authorities and former results achieved. We are also involved in several ongoing APA negotiations for leading multinationals.
Advance Pricing Agreements represent a proactive approach to handle controversy by investing in productive relationships with tax administrators, and secure the tax position avoiding disputes.
Crowe Valente team has a vast experience applying and negotiating APAs with Tax Authorities and includes sound transfer pricing knowledge which will be an asset to drive you through all stages of the APA process, towards its successful completion.
In view of the BEPS changes/recommendations, we developed special inter-relational arm’s length transfer pricing analysis (in which transfer prices reflect the company’s business and tax purposes), which interacts, in turn, with the group value chain and with its value creation.
Mapping and understanding the value chain of a group has become a critical element for every corporate Group (identification of key value-drivers within its industry sector, as well as identification of the value drivers (in combination with a “quantitative analysis”) from which the company’s major risks within its industry might derive.
Our special focus is on:
An Alignment among corporate governance, operating model and tax/Transfer pricing structure is as crucial as an alignment/ syncing of the group economic, legal and financial realities.
Any discrepancies in such alignment might trigger additional tax liabilities.
Depending on your needs, our services might include:
Our team assists large multinational corporations in examining and defending policies and procedures concerning transfer prices as well as in drafting the appropriate transfer pricing documentation. We support the top management of enterprises in the definition and in the management of transfer pricing policies also with reference to processes of corporate restructuring.
In particular, our "Transfer Pricing" team supports the client in the following activities:
Assistance in the development of transfer pricing policies:
Our TESCM unit, through its integrated and multidisciplinary team followed several projects for key players of the market in the areas of supply chain planning, corporate restructuring and relocation of functions aimed at revisiting and improving value chain efficiency mainly in connection with extraordinary operations (i.e., M&A, etc.).
Our Team is focused on advising and supporting you aligning tax strategies with business initiatives and companies operating models.
Depending on your needs, we can support you on the:
Tax risk and transfer pricing: our framework for the valuation of tax risk is based on the strategies used by Tax Authorities for planning audit activities. Based on the risk profile of the subjects involved and on the score assigned, it is possible to calculate a tax risk indicator. With reference to transfer pricing, by predicting the approach of the Tax Authorities, we are able to identify both the price that minimizes the risk for the group and the level of risk to which the group is exposed.
Crowe Valente team helps you recognizing tax and transfer pricing risks and to identifying methods for quantifying/managing transfer pricing risks, through specific risk assessment tools.
Crowe Valente and its affiliated Members have acquired a long-standing experience over the years in assisting clients in their relationship with the Tax Authorities with regard to all pre- and post-trial phases of litigation proceedings. In particular, our "Litigation" team assists clients from the very beginning of the tax assessment procedure with regard to the following aspects:
Crowe Valente takes charge of taxpayers’ defense throughout the entire litigation phase, handling all relevant documentation such as the drawing up of deeds of appeal and the collation of any related annexes.
Furthermore, the “Litigation” team is also in charge of drawing up and discussing any supplementary and/or explanatory memoranda, counter-deduction deeds, judicial collection suspension requests, including the filing of deeds of appeal, by intervening in hearings before the various competent Provincial and Regional Tax Courts.
We are well experienced in all phases of the tax dispute iter – from dispute prevention through pre-transaction analysis through to resolution of disputes.
Crowe Valente takes charge of taxpayers’ defense throughout the entire litigation phase, handling all relevant documentation such as the drawing up of deeds of appeal and the collation of any related annexes. Furthermore, the “Litigation” team is also in charge of drawing up and discussing any supplementary and/or explanatory memoranda, counter-deduction deeds, judicial collection suspension requests, including the filing of deeds of appeal, by intervening in hearings before the various competent Provincial and Regional Tax Courts.
We provide all the assistance required during the assessment procedures carried out by Tax Authorities and in the pre-litigation and litigation phases. Our negotiation skills, along with our excellent and long-established relations with the Italian Revenue Office (i.e., methods, time-frames, approach and other key aspects), are all fundamental elements to optimize relations between our client and the competent Tax Office in order to achieve successful outcomes throughout the negotiation phase with the Tax Authorities) and within the litigation phase.
One of our key strengths is the fact that our team includes besides lawyers, CPAs and Tax consultants, but also economists, engineers, mathematicians, which contribution is means added value for certain activities (such as value chain analysis; strategy and business optimization, valuation activities, transfer pricing, but also dispute resolution), with an in-depth knowledge of different sectors and industries.
We are used to address complex cases, involving substantial figures and related to key market players – our TP litigation team has an excellent winning-rate of cases at all Court levels.
We have been distinguished by International tax review in 2017 as Best Italian Transfer Pricing Firm of the Year by ITR European Tax Awards.
Our services include:
We are experienced and frequently involved in complicated business litigation, approaching the matter always with a through knowledge of the law but also with a business-mind approach.
Our team of dispute resolution experts are ready to support you with regard to prevention, management and dispute resolution in connection with indirect taxes.