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News from Members Þuca Zbârcea & Asociaþii Tax Appoints New Partner

Þuca Zbârcea & Asociaþii Tax Appoints New Partner

by Tuca Zbarcea & Asociatii April 4, 2013

Website www.tuca.ro

The tax division of Þuca Zbarcea & Asociatii law firm has recently strengthened its team with the promotion of Alin Chitu to Tax Partner. The entity reached its financial target for 2012 and is currently predicting a business increase of at least 20-25% for the current year.

Tax advisory firm Þuca Zbârcea & Asociaþii Tax, the youngest specialist division of Þuca Zbârcea & Asociaþii, has announced the expansion of its management team with the promotion of Alin Chitu to Tax Partner. He has more than nine years of professional experience with Big4 companies such as Deloitte and KPMG. Along with Alexandru Cristea, Alin Chitu will be coordinating all tax procedural matters of the affiliated tax consultancy firm, while working closely with the firm’s contentious administrative practice group and lawyers specialising in tax disputes.

“The decision came naturally. Alin was part of the start-up team of Þuca Zbârcea & Asociaþii Tax and he has made a significant contribution towards the achievement of our business development objectives over the past 12 months. We have worked shoulder-to-shoulder from the very beginning, and this promotion stands as recognition of his contribution to strengthening our practice on the tax advisory services market,” said Alexandru Cristea, Tax Partner at Þuca Zbârcea & Asociaþii Tax.
According to company representatives, Þuca Zbârcea & Asociaþii Tax’s activity has been in line with the estimates made at the launch of the firm, in March 2012. The services offered have focused on various tax efficiency projects, combined with operational consultancy services related to direct and indirect taxation, as well as various projects involving mergers and acquisitions and insolvency and restructuring procedures. In 2012, the team of tax consultants made a significant contribution to the completion of the privatisation of Automobile Craiova by the American giant Ford Motor Co. The project involved a thorough analysis of all the tax and financial implications related to the final stage of the privatisation contract, being completed with Ford Motor Co. making a transfer of 38 million Euros to the state budget.

For 2013, Þuca Zbârcea & Asociaþii Tax is targeting a business increase of at least 20-25%, based both on recommendations by Þuca Zbârcea & Asociaþii law firm and also the potential development of its current client portfolio.
“This year we want to advance our practice in the area of compliance – this is a good area, one that provides constant income - as we have so far focused only on advisory services. We will also look to obtain revenues from current developing projects in sectors such as energy, agriculture, real estate and banking, as well as transactions such as mergers and acquisitions, spin-offs and privatisations,” added Alin Chitu, Tax Partner at Þuca Zbârcea & Asociaþii.

Established in March 2012, Þuca Zbârcea & Asociaþii Tax has progressed on the tax advisory services market with specialists previously employed by Big 4 companies and the Ministry of Public Finances, including Ion Capdefier, who held the position of General Director at the Ministry of Public Finances and the National Agency for Fiscal Administration (ANAF), for 17 years.
The Þuca Zbârcea & Asociaþii Tax team currently includes six “full-time” tax consultants, as well as experts in contentious tax who work for the law firm, making a total of 13 professionals. This year the entity plans to expand its team and recruit at least three tax consultants.
Þuca Zbârcea & Asociaþii Tax’s current portfolio is made up of several dozen clients, including: Alstom Transport, ArcelorMittal Roman, the National Authority for the Recovery of State Assets (AVAS), CEZ, Carrefour Romania, Ericsson Telecommunications Romania and Stabilus Romania.

About Þuca Zbârcea & Asociaþii:
With offices in Bucharest and Cluj-Napoca, Þuca Zbârcea & Asociaþii is the sole independent Romanian law firm with a representative office in Spain. In addition to its business partnership network in Romania, the firm also entered into a strategic “best friend” cooperation agreement with law firm Þurcan Cazac, the leader of the business law market in the Republic of Moldova.

Þuca Zbârcea & Asociaþii offers the whole range of legal services, and has been recommended by prestigious specialised international directories in areas of practice such as: corporate & commercial; mergers, acquisitions & privatisation; litigation & international arbitration; energy & natural resources; banking & finance and others.
The firm has garnered a string of local, regional and international accolades, having been named the “Law Firm of the Year” for four consecutive years and the “Most Innovative Continental European Law Firm” in the Financial Times’ Innovative Lawyers Report. The firm is a winner of the “Law Firm of the Year Award: Romania” (IFLR European Awards 2012) and the “Best Managed Workplace Award” (Managing Partners’ European Leadership Awards 2012). It also received the “Law Firm of the Year Award” (Chambers Europe Awards for Excellence 2010), the “Law Firm of the Year in Eastern Europe and the Balkans Award” (The Lawyer European Awards 2010).

Þuca Zbârcea & Asociaþii’s client portfolio comprises many local and international companies, prominent financial institutions, as well as public authorities and government institutions. A selective list of clients includes: Erste Bank / Banca Comercialã Românã (BCR), OMV Petrom, CEZ, Gabriel Resources Ltd. / Roºia Montanã Gold Corporation, Rompetrol, ArcelorMittal, Carrefour, Romtelecom, Orkla Foods, Colgate-Palmolive, GED Capital Development, the Bucharest Stock Exchange, BRD-Groupe Société Générale, the European Bank for Reconstruction and Development (EBRD), Philip Morris, Alstom Transport, Siemens, Ericsson Telecommunications Romania and ING Real Estate.
Þuca Zbârcea & Asociaþii now boasts 100 lawyers.

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