- Baker McKenzie and its member firm has won four awards at the International Tax Review's Asia Tax Awards held in Singapore on 4 May 2017. The Firm took home both the regional award, 'Asia Tax Litigation and Disputes Firm of the Year,' as well as the national award, 'Tax Disputes and Litigation Firm of the Year' for Hong Kong and Vietnam. Indonesian member firm Hadiputranto Hadinoto & Partners was named 'Tax Disputes and Litigation Firm of the Year' in Indonesia.
The Asia Tax Awards recognize excellence in tax advice to businesses in the region. Advice on tax, transfer pricing, and litigation and disputes, as well as market feedback are being considered to determine the winners.
Commenting on the awards, John Walker, Asia Pacific Head of Baker McKenzie's Tax Practice, said, "We are delighted to be recognized yet again as the 'Asia Tax Litigation and Disputes Firm of the Year', as well as for our wins as the leading tax disputes & litigation firm in Hong Kong, Vietnam and Indonesia."
"Tax disputes and litigation cases in this region have been on the rise on the back of increasing cross-border trade and investment and regulatory changes. We expect this trend is likely to continue and our Firm is well positioned to assist clients in navigating these tax complexities in this region."
Indeed, optimizing tax structures has become the number two priority for many multinationals in this region, with responding to regulatory changes taking the top spot, according to the Asia Pacific Business Complexities Survey 2017 which Baker McKenzie recently released. The report is based on a survey of 150 Asia Pacific-based business leaders, and as much as 67% of the respondents say significant time and resources will be dedicated to focusing on optimizing tax structures. The same proportion of respondents (67%) also foresee that the number of dispute resolution/ litigation cases will increase.
For a complete list of winners of the ITR Asia Tax Awards, please click here.