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CRIDO

CATEGORY
Tax & Financial Consultancy of the Year, Poland
Crido team includes almost 300 people, specializing in tax, business and innovation advisory, financial modelling and corporate finance. A real estate team includes 2 partners and 6 managers specializing in structuring and transaction (30 people in total), additionally the Team is supported by 2 partners and their team 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 additional value for 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, 6 managers). With 20 years of experience is recognized by industry as leading tax expert. Paweł was crucial in designing and implementing structure models answering new tax environment in Poland and advised in major RE deals of the period. He is co-founder of Polish Commercial Real Estate Chamber PINK. As PINK’s expert discussed with Ministry of Finance the impact on VAT refunds situation, possible industry oriented.
Major current clients
Auchan, Atrium, Atlas Estates, BPI, CBRE Global Investors, CPI, Credit Suisse, ECE, Golden Star Estates, Golub Gethouse, Echo Investment, EPP, Hines, HB Reavis, Heitman, IIC, IKEA, Immofinanz Group, Immobel, Kajima, Klepierre, Mapletree, Octava, Skanska, Trigranit, Unibail Rodamco Westfield, Unibep, White Star, 7R.
Major projects on the real estate market between October 2018 and September 2019
- Acquisition of Griffin portfolio by Kajima – first student housing portfolio transaction on Polish market. International tax structuring, tax due diligence and tax transactional advise. - Sale of two major shopping malls of Atrium portfolio. - Astoria acquisition by Credit Suisse – prime office acquisition in Warsaw - Winning first two cases on VAT RE deals in front of the Supreme Administrative Court - the most hot topic in Polish RE industry over the past 3 years. - WHT advise on over 2bln EUR of flows for international RE players related to new WHT requirements coming from the new 2019 CIT rules (structuring of € 2bln of flows) - MDR implementation for over 20 RE players. - Transfer pricing team assists 30+ 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 new strict WHT regime.
Total value of transactions on the real estate market the company participated between October 2018 and September 2019 (in EUR)
€ 1,4 bln (real estate transactions); € 2 bln (wht flow structuring for RE players)
Please say why your team should be considered for the award
Crido has a well-established team of experts with deep industry knowledge and experience. This allows us to understand current needs of clients and their actual business environment. We focus on practical solutions, clear recommendations which give comfort to clients and allow to proceed with transactions despite rapidly changing tax environment and to prepare for these changes. Real estate tax 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 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 issue and new CIT legislation.
Company website
www.crido.pl