tax

Tax

Kelemenis & Co. provides a broad range of tax advice and is in a position to assist clients by providing the following services:

  • Advisory services on the overall tax issues and consequences when setting up subsidiaries or branches in Greece;
  • Tax planning guidance in formulating investment strategies across a wide array of jurisdictions;
  • Consulting on direct and indirect tax issues, including customs matters, when importing or exporting goods or services;
  • Advisory services in relation to tax benefits arising from the use of holding companies;
  • Planning in relation to financing of projects in Greece;
  • Consulting services in relation to direct and indirect tax issues arising during cross-border payments, royalties, interests, dividends, under double tax treaties and European Directives;
  • Compliance services with respect to obligations arising from intra-group charges and advising on such issues according to OECD commentaries; and
  • Advisory services in relation to cross-border employment matters.

Recent highlights include:

  • Advice to Cargill on the tax issues arising from the development and sale of custom tailored over-the-counter risk management products in Greece.
  • Acting for Chevron/Texaco on tax compliance, tax advisory work on local implementation of global restructuring of the group and litigation matters for all Greek subsidiaries.
  • Advising Shelman, a listed producer of a wide range of wood products, on the direct and indirect tax issues arising from a demerger of one of its businesses.
  • Multijurisdictional tax advice to the Coordinated Auction Office of Southeast Europe (SEE-CAO) on local and cross-border direct and indirect tax issues.
  • Tax advice to Greek TSO on the restructuring of its transactions with electricity producers and suppliers and recommendations for relative amendments to the Grid Code.
  • Tax support to the Greek Public Gas Corporation (DEPA) in its discussions with the Greek Ministry of Finance regarding the introduction of taxation on natural gas which involved a tax study of all relevant tax legislation in the EU.
  • Tax advisory services to China Development Bank, Warwick Capital, Baring Private Equity Fund regarding all direct and indirect tax issues arising from investments made in Greece.

Representative Clients

Chevron/Texaco, Cargill, Shelman, Greek Transmission System Operator (TSO), Public Gas Corporation (DEPA), Energy Community Secretariat (Vienna), South East European Coordinated Auction Office (Montenegro), China Development Bank, Warwick Capital Partners, Baring Private Equity Fund, Metaxa, FTI Touristik GmbH.

Legal 500 2013 says:

Kelemenis & Co. handles the full range of tax issues. It represented Texaco in the Court of Appeal for a tax refund. Other clients include Chevron, GE, Metaxa, and Cargill. Tom Kyriakopoulos is recommended.

Tax Directors Handbook 2013 says:

Kelemenis & Co. is recommended for tax litigation and advisory work. It recently advised Chevron on tax compliance as well as the retrieval of refunds that were frozen by the Ministry of Finance. Tom Kyriakopoulos is a busy figure in the team.

World Tax Review 2012 says:

The tax team at Kelemenis & Co. is led by Tom Kyriakopoulos and consists of 5 fee earners. The practice provides a wide range of tax advice including M&As, transfer pricing, indirect tax and corporate finance.
This year the group has been advising Youtravel.com, an online tourism company, on a broad range of tax issues including indirect tax and transfer pricing issues. The group also advised the group on its cross-border restructuring.
Other work this year includes advising the sportswear manufacturer Champion Europe on the tax implications of various commercial agreements and working with Chevron Hellas Petroleum and Chevron Marine Products on their cross-border restructuring.

Chambers Europe 2011 says:

Tom Kyriakopoulos of Kelemenis & Co. receives consistently warm recommendations from clients. He is praised for his in-depth understanding of corporate tax matters and his ability to provide fast and detailed responses.

Legal 500 2011 says:

Kelemenis & Co.’s tax practice draws praise for the “professional, to-the-point” advice of Tom Kyriakopoulos. The group handles litigation, such as defending a client against the imposition of additional income taxes and penalties, as well as advising on the tax implications of transactions and corporate reorganisations, such as the closure of a number of Chevron’s local operations.

World Tax Review 2011 says:

Kelemenis & Co.’s “quality and organisation is closer to what you’d expect from a well-run Western European firm than a Greek one”. It was recently called on by The Energy Community secretariat to provide advice on direct and indirect tax issues for a joint venture in Montenegro. Tom Kyriakopoulos is “quick, business-minded and practical”.

Legal 500 2009 says:

Kelemenis & Co.’s tax practice has gone from strength to strength thanks to Tom Kyriakopoulos’s “significant tax expertise”. The firm has been providing tax advice on Barclays’ venture capital investment in a Greek company, which has involved the review of direct and indirect tax issues arising out of inter-group and third-party service agreements.