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Țuca Zbârcea & Asociații
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Țuca Zbârcea & Asociaţii Tax
 
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Deals
Assisting Austria’s largest steel producer in the development of a massive greenfield project in South-Eastern Romania, following investments worth up to EUR 7,000,000,000. Our lawyers assisted in relation to various State aid and tax incentives that could be granted by the Romanian authorities in relation to the project. Furthermore, our services included assistance on all M&A and real estate issues, as well as environmental, corporate matters entailed by the project. Our team has successfully assisted voestalpine in closing a Memorandum of Understanding (MoU) between the company and the Romanian Government as well as in the acquisition of several plots of land worth EUR 180,000,000.
Assisting Austria’s largest steel producer in the development of a massive greenfield project in South-Eastern Romania, following investments worth up to EUR 7,000,000,000. Our lawyers assisted in relation to various State aid and tax incentives that could be granted by the Romanian authorities in relation to the project. Furthermore, our services included assistance on all M&A and real estate issues, as well as environmental, corporate matters entailed by the project. Our team has successfully assisted voestalpine in closing a Memorandum of Understanding (MoU) between the company and the Romanian Government as well as in the acquisition of several plots of land worth EUR 180,000,000.
Legal and tax advisory services for world-leading supplier in telecommunications on the implementation in Romania of a Global Service Delivery Centre /GSDC for both its local and regional customers, including advice in connection with tax incentives that could be granted by the Romanian Government. The total project value is estimated at more than EUR 50,000,000. Our team is also assisting the client in tax & legal issues pertaining to company’s operations in Romania, especially in connection with a potential PE exposure and transfer pricing issues.
Legal and tax advisory services for world-leading supplier in telecommunications on the implementation in Romania of a Global Service Delivery Centre /GSDC for both its local and regional customers, including advice in connection with tax incentives that could be granted by the Romanian Government. The total project value is estimated at more than EUR 50,000,000. Our team is also assisting the client in tax & legal issues pertaining to company’s operations in Romania, especially in connection with a potential PE exposure and transfer pricing issues.
Tax advisory services in connection with the proposed extension of an existing retail scheme currently owned and operated by Carrefour Romania. The project, worth EUR 50,000,000 in investments, will be implemented jointly by our client and NEPI (a real estate investment fund). Our services included advice related to the main tax implications triggered by the proposed restructuring, including transfer pricing issues, VAT issues and corporate profit tax (thin capitalisation rules, withholding tax etc) based on which the parties have ultimately agreed the structure of a joint-venture which will develop the project.
Tax advisory services in connection with the proposed extension of an existing retail scheme currently owned and operated by Carrefour Romania. The project, worth EUR 50,000,000 in investments, will be implemented jointly by our client and NEPI (a real estate investment fund). Our services included advice related to the main tax implications triggered by the proposed restructuring, including transfer pricing issues, VAT issues and corporate profit tax (thin capitalisation rules, withholding tax etc) based on which the parties have ultimately agreed the structure of a joint-venture which will develop the project.
Advising France's leading hypermarket operator in connection with the potential tax implications arising from a Romanian law perspective triggered by an ongoing tax / audit litigation with the tax authorities in France. Our services included the review of the claim filed by the French tax authorities and the decision issued by the French courts and assistance in front of the Romanian tax authorities with a view to initiating a mutual agreement procedure (MAP) with the relevant authorities in Romania, as regulated by the double tax treaty between France and Romania.
Advising France's leading hypermarket operator in connection with the potential tax implications arising from a Romanian law perspective triggered by an ongoing tax / audit litigation with the tax authorities in France. Our services included the review of the claim filed by the French tax authorities and the decision issued by the French courts and assistance in front of the Romanian tax authorities with a view to initiating a mutual agreement procedure (MAP) with the relevant authorities in Romania, as regulated by the double tax treaty between France and Romania.
Tax advisory services to France's leading hypermarket operator in connection with the development of a new retail project in Bucharest worth EUR 20,000,000 in investments, including the analysis of the tax implications arising in connection with the acquisition of a plot of land following a EUR 6,000,000 acquisition transaction. Our assistance included joint tax and legal advice on the proposed acquisition, as well as corporate income tax and VAT issues.
Tax advisory services to France's leading hypermarket operator in connection with the development of a new retail project in Bucharest worth EUR 20,000,000 in investments, including the analysis of the tax implications arising in connection with the acquisition of a plot of land following a EUR 6,000,000 acquisition transaction. Our assistance included joint tax and legal advice on the proposed acquisition, as well as corporate income tax and VAT issues.
Tax and legal advisory services for an independent Private Equity group operating in the Iberian Peninsula and South-Eastern Europe in connection with the structuring of a real estate transaction involving the acquisition of a property (large plot of land), following a transaction worth EUR 7,000,000 (eg share vs. asset deal, implementation of the most efficient tax structure, legal advice in relation to the VAT treatment as well as the tax consequences triggered by a corporate restructuring involving a partial spin-off).
Tax and legal advisory services for an independent Private Equity group operating in the Iberian Peninsula and South-Eastern Europe in connection with the structuring of a real estate transaction involving the acquisition of a property (large plot of land), following a transaction worth EUR 7,000,000 (eg share vs. asset deal, implementation of the most efficient tax structure, legal advice in relation to the VAT treatment as well as the tax consequences triggered by a corporate restructuring involving a partial spin-off).
Advising a member company of Ana Holding, one of the most successful Romanian-owned private companies, on the fiscal law aspects involved by client’s prospected conclusion of a JV agreement with GTC (Globe Trade Center) for the development of a 28-storey A-class office building in Bucharest. Our team advised on all fiscal issues pertaining to the project, including the design of a tax efficient structure for completing the transaction. The investments value in the development of the office building is estimated at EUR 70,000,000.
Advising a member company of Ana Holding, one of the most successful Romanian-owned private companies, on the fiscal law aspects involved by client’s prospected conclusion of a JV agreement with GTC (Globe Trade Center) for the development of a 28-storey A-class office building in Bucharest. Our team advised on all fiscal issues pertaining to the project, including the design of a tax efficient structure for completing the transaction. The investments value in the development of the office building is estimated at EUR 70,000,000.
Legal and tax advisory services provided to a Norwegian real estate fund in connection with various investments on the Romanian residential market and the implementation of an efficient tax structure. The team also assisted the client in relation to the restructuring of the fund’s operations in Romania and designing a tax efficient structure for the sale of a residential portfolio with a value of EUR 120,000,000.
Legal and tax advisory services provided to a Norwegian real estate fund in connection with various investments on the Romanian residential market and the implementation of an efficient tax structure. The team also assisted the client in relation to the restructuring of the fund’s operations in Romania and designing a tax efficient structure for the sale of a residential portfolio with a value of EUR 120,000,000.
Advising major companies in connection with the shares/stock options offered to their employees. Our services included the assessment of the tax regime applicable to the shares offered at a discount/free shares offered to the employees, taxation of dividends received from abroad, taxation in case of swap of shares, taxation of capital gains received upon the sale of shares/units from abroad, applicability of the double taxation treaties with various EU member states. Our services also included assistance before the competent Romanian tax authorities in respect of various clarifications needed on some sensitive tax issues.
Advising major companies in connection with the shares/stock options offered to their employees. Our services included the assessment of the tax regime applicable to the shares offered at a discount/free shares offered to the employees, taxation of dividends received from abroad, taxation in case of swap of shares, taxation of capital gains received upon the sale of shares/units from abroad, applicability of the double taxation treaties with various EU member states. Our services also included assistance before the competent Romanian tax authorities in respect of various clarifications needed on some sensitive tax issues.
Advising in connection with the implementation by the global leader in transport, train and track of an employee share offering in Romania. Our services included drafting and revising of the feasibility study on client's offering, the memorandum on the legal and tax considerations for the implementation thereof, the terms of the offer plan, notifying the National Securities Commission (NSC) on the envisaged share offer, as well as reviewing documents for the employee offer (i.e. subscription form, revocation form, tax notes, information documents, etc).
Advising in connection with the implementation by the global leader in transport, train and track of an employee share offering in Romania. Our services included drafting and revising of the feasibility study on client's offering, the memorandum on the legal and tax considerations for the implementation thereof, the terms of the offer plan, notifying the National Securities Commission (NSC) on the envisaged share offer, as well as reviewing documents for the employee offer (i.e. subscription form, revocation form, tax notes, information documents, etc).
Advising the second-largest player in the local oil-refining industry, currently owned by the Kazakhstan oil giant KazMunaiGaz on a broad array of disputes against the Ministry of Public Finances / National Fiscal Administration Agency (ANAF), including representation in disputes concerning corporate decisions or against a seizure warrant issued by ANAF and the Ministry of Public Finances in relation to client’s patrimony etc.
Advising the second-largest player in the local oil-refining industry, currently owned by the Kazakhstan oil giant KazMunaiGaz on a broad array of disputes against the Ministry of Public Finances / National Fiscal Administration Agency (ANAF), including representation in disputes concerning corporate decisions or against a seizure warrant issued by ANAF and the Ministry of Public Finances in relation to client’s patrimony etc.
Advising number one integrated oil and gas group in Central Europe in a tax exemption file, resulting in restitution by the tax authorities to our client of the amount of EUR 7,000,000.
Advising number one integrated oil and gas group in Central Europe in a tax exemption file, resulting in restitution by the tax authorities to our client of the amount of EUR 7,000,000.
Advising one of the most important confectionary companies in a fiscal dispute against the National Fiscal Administration Agency (ANAF) with a view to annulling certain administrative acts issued by ANAF, including preparing and submitting all the documents relevant to the case and representation in court.
Advising one of the most important confectionary companies in a fiscal dispute against the National Fiscal Administration Agency (ANAF) with a view to annulling certain administrative acts issued by ANAF, including preparing and submitting all the documents relevant to the case and representation in court.
Advising a pharmaceuticals company in various tax disputes regarding reimbursement of VAT. The total value of the claim amounts to approximately EUR 3,000,000.
Advising a pharmaceuticals company in various tax disputes regarding reimbursement of VAT. The total value of the claim amounts to approximately EUR 3,000,000.
Advising a local heating company before the High Court of Cassation and Justice in a complex fiscal dispute with the National Agency for Fiscal Management (ANAF) on the annulment of ANAF’s fiscal-administrative deeds providing that the client lost fiscal incentives of more than EUR 1,700,000.
Advising a local heating company before the High Court of Cassation and Justice in a complex fiscal dispute with the National Agency for Fiscal Management (ANAF) on the annulment of ANAF’s fiscal-administrative deeds providing that the client lost fiscal incentives of more than EUR 1,700,000.



September 2017
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Successful assistance in a EUR 375,000,000 acquisition of the minority shareholding in two local subsidiaries of the biggest electricity producer in the Czech Republic [...]
Successful assistance in a EUR 375,000,000 acquisition of the minority shareholding in two local subsidiaries of the biggest electricity producer in the Czech Republic
Successfully representing the largest property fund in CEE in several corporate disputes involving claims regarding distribution of dividends between shareholders [...]
Successfully representing the largest property fund in CEE in several corporate disputes involving claims regarding distribution of dividends between shareholders
Lawyers from Ţuca Zbârcea & Asociaţii and White & Case (US) obtain favorable result for Romania in third ICSID arbitration case [...]
Lawyers from Tuca Zbarcea & Asociatii and White & Case (US) obtain favorable result for Romania in third ICSID arbitration case


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