News

Munich, 12 January 2010 – The demand for international tax advice is growing faster than ever before. The more global the business activities of the client the more open-minded tax consultants have to become. The Munich-based World Tax Service WTS is now also represented in India after having already been present in Asia with a subsidiary in China and a WTS office in Taiwan.

On Tuesday WTS announced the signing of a joint venture agreement with regional tax consulting firms in Mumbai and Delhi. The Indian tax system is without any doubt a significant challenge for foreign businesses who intend to open up the Indian market. There is hardly any other country with as many different and particularly indirect tax categories as India. From now on, German companies in India can refer to ten experienced WTS tax consultants for support who have had many years of experience with providing tax consulting services to German investors in India. Mumbai and Delhi are strategically important sites as the majority of European companies are located in these conurbations. But WTS’s presence in China has also expanded. In addition to the Shanghai subsidiary a new branch has only recently been opened in Beijing.

In 2009 WTS was one of the largest German firms in its industry with more than 400 employees. The six German offices from Frankfurt and Düsseldorf to Hamburg as well as the WTS Alliance and its strong partners in more than 90 countries world-wide meet the demand for tax consulting services of international and major medium-sized companies all over the world. The joint representation of the partners is also documented by a uniform market appearance, for instance WTS do Brasil or WTS&SAJA Poland, who will both bear the name “WTS” as of 2010.

Especially in Eastern Europe WTS Alliance has grown since the turn of the year. In addition to strengthening its market presence in Poland, WTS Alliance was able to win none other than KM Partners in Ukraine as an Alliance partner. In 2009 KM Partners received among others the “Ukrainian Legal Award” as the best Ukrainian law firm. Alexander Minin, Senior Partner of the law firm was honoured as leading Ukrainian tax lawyer in the past five years.

“We are particularly proud of the cooperation with the internationally renowned tax consulting firm KM Partners. With such a highly-qualified partner we are now able to provide the best possible service to our clients in Eastern Europe both with respect to Ukrainian tax law and cross-border projects”, says Fritz Esterer, Chairman of WTS AG Steuerberatungsgesellschaft. Further new partnerships in Malta and Liberia reinforce the international presence of WTS Alliance.

Malta completes the tax consulting services in Southern Europe with the expert knowledge of Fenech Farrugia Fiott Legal, Malta, a young, fast-growing law firm that was founded by four experienced tax consultants and lawyers. Their focus in on commercial and tax law.

In West Africa WTS Alliance provides support for clients who plan to enter the market through the services of Deon & Noed Consulting International in Liberia. The internationally experienced consultants of the integrated consulting firm offer comprehensive tax advice. After having entered into partnerships in Ghana and Nigeria, WTS Alliance is consistently continuing its expansion in West Africa.