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Crido Taxand

CATEGORY
Tax & Financial Consultancy of the Year, Poland
Crido Taxand team includes over 230 people, specializing in tax, business and innovation advisory, financial modelling and corporate finance. A real estate team includes 2 partners and 4 managers specializing in structuring and transaction (30 people in total), 1 partner and 1 senior manager specializing in litigation for real estate, senior manager specializing in transfer pricing for the industry as well as 2 managers on financial modelling. These teams cooperate closely with Crido Legal real estate team. This allows to combine highest technical knowledge with deep industry experience at all aspects of tax advisory for real estate clients. At the same time the size and experience of the team allows us to manage a highly complicated projects from technical perspective but also as project managers. Being a member of the international Taxand network enables us to conduct cross-border deals and/or reorganizations, which is highly appreciated by our clients.
Name of company
Crido Taxand
Department head or senior representative in Poland, real estate
Paweł Toński (Managing Partner, head of real estate team), Mateusz Stańczyk (Partner)
DEPARTMENT HEAD OR SENIOR REPRESENTATIVE PROFILE
Paweł Toński leads a specialized real estate tax team of 30 people (2 partners, 4 managers). With almost 20 years of experience is recognized by industry as leading tax expert. He is co-founder of Polish Commercial Real Estate Chamber PINK. Paweł was crucial in designing and implementing large reorganizations and assisted in major RE deals of the period. As PINK’s expert discussed with Ministry of Finance VAT refunds situation, planned REIT regime and impact of new CIT rules on the industry.
Major current clients
Auchan, Atrium, Atlas Estates, BPI, Golden Star, Golub Gethouse, Echo Investment, EPP, Hines, HBReavis, Heitman, Ikea Centers Poland, Immobel, Immochan, Immofinanz, Klepierre, Lilium, Octava, Skanska, Trigranit, Unibail Rodamco, Unibep
Major projects on the real estate market between October 2016 and September 2017
• Business reorganizations of 5 portfolios for various clients, involving 30 properties and 200 entities with total value of EUR 2.8 billion • Sale Proximo I office building (Hines/REICO) • Sale of 2 office buildings in Warsaw CBD for EUR 190m • Acquisition of BPH portfolio by Octava (12 projects) • Acquisition of Suwałki Plaza and Toruń Plaza shopping malls • We assists clients in numerous litigation proceeds regarding VAT on real estate deals (resulting from the periodical change of authorities’ approach in mid-2016) – total value of VAT almost EUR 100m • Transfer pricing team assists 26 RE clients working on transactions of total EUR 5 billions • PINK’s expert for contacts with Ministry of Finance to present industry position in context of VAT refunds, preparations of REITs and introduction of CIT changes
Total value of transactions on the real estate market the company participated between October 2016 and September 2017 (in EUR)
500M EUR (real estate investments/divestments); 2,8 bn EUR (real estate corporate reorganisations).
Please say why your team should be considered for the award
Crido Taxand has a well-established team of experts with deep industry knowledge. This allows us to understand the business and needs of clients. We focus on practical solutions, clear recommendations which give comfort to clients and allow to proceed with transactions/business despite rapidly changing and unpredictable tax environment. Core tax real estate team benefits also from support of real estate-specialized experts in tax litigation and transfer pricing which allows us to provide full-range services to clients. The team has excellent project management skills – on large reorganizations we cooperate fluently with numerous parties involved in the processes such as banks, tax and legal advisors from various jurisdictions, technical advisors, etc. Our position and expertise was appreciated when we were chosen by numerous clients to explain to Ministry of Finance position of real estate industry in the context of VAT refund issues, REIT regime and new CIT legislation.
Company website
www.taxand.pl