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CRIDO

CATEGORY
Tax & Financial Consultancy of the Year, Poland
Crido team includes over 270 people, specializing in tax, business and innovation advisory, financial modelling and corporate finance. A real estate team includes 2 partners and 5 managers specializing in structuring and transaction (30 people in total), additionally the Team is supported by 1 partner and 1 senior manager specializing in litigation for real estate, partner 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
Department head or senior representative in Poland, real estate
Paweł Toński (Managing Partner, Head of the Real Estate Team)
DEPARTMENT HEAD OR SENIOR REPRESENTATIVE PROFILE
Paweł Toński leads a specialized real estate tax team of 30 people (2 partners, 5 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 Estates, Golub Gethouse, Echo Investment, EPP, Hines, HBReavis, Heitman, Immobel, Immochan, Klepierre, Octava, Skanska, Trigranit, Unibail Rodamco, Unibep, IKEA, Immofinanz Group, IIC
Major projects on the real estate market between October 2017 and September 2018
- Business reorganizations for various clients, involving 30 prime properties with total value of € 6 billion; - Sale Proximo II office building (Hines/REICO); - Sale of 2 office buildings in Warsaw CBD for over € 190M; - Sale of one of the prime historic buildings in Warsaw CBD for ca. € 130M; - Acquisition of DOT Park by Golden Star Estates; - Winning two important RE cases in front of the court - litigation referred to VAT reclassification of real estate deals, the most hot topic in Polish RE industry over the past 2 years – total value of VAT in those two cases – approx. € 40M; - Transfer pricing team assists 26 RE clients working on transactions of total € 5 billions; - PINK’s expert for contacts with Ministry of Finance to present industry position in context of VAT refunds and introduction of CIT changes.
Total value of transactions on the real estate market the company participated between October 2017 and September 2018 (in EUR)
€1 billion (real estate investments/divestments/transactions); €6 billion (real estate corporate reorganisations)
Please say why your team should be considered for the award
Crido 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.crido.pl