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NERA Experts Win German Transfer Pricing Firm of the Year Award in ITR EMEA Tax Awards 2021
09 September 2021
New York—NERA Economic Consulting is proud to announce that our German transfer pricing team has won the German Transfer Pricing Firm of the Year award in the International Tax Review EMEA Tax Awards 2021.
In its 17th year, the ITR Awards celebrate the world’s leading tax and transfer pricing practitioners. Following months of research, submissions from more than 1,000 tax practices, interviews, and peer review, the program highlights and brings together those working at the forefront of the tax industry. Produced in association with the ITR World Tax rankings, the ITR Awards profile the best firms of the year.
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The ITR Awards research team said of NERA’s win:
NERA has picked up the Germany Transfer Pricing Firm of the Year award for 2021, solidifying its place at the top of the market as it pushes further into TP litigation support and continues to develop its economic analysis capabilities.
NERA has been at the forefront of several emerging and highly contested tax questions in the market. These include the analysis of DEMPE contributions, the application of the transactional net margin method (TNMM), profit split shares, and establishing common ground in multilateral dispute resolution.
Among its exemplary work for 2020, the firm assisted a pharmaceutical company in conducting a value chain analysis in the context of a contested transaction. The German tax authorities challenged the analysis in such a way that would result in profit split ratios different to the one used by the taxpayer. In response, NERA successfully identified a consistent framework for defining strategic entrepreneurial contributions and delineating them from routine contributions. The team advised a global automotive supplier in an innovative and impactful multijurisdictional case, which revolved around different approaches to achieving a fair profit split across functions contributing to joint value creation. The case will set precedents for the car industry.
NERA defended an electrical company in a contested valuation of transferred IP and represented a global consumer company in litigation over the German tax authority’s right to make an assessment, DEMPE contributions, and the TNMM, among other issues. The latter was another landmark case with a significant impact for the high-margin sub-industry, which will set a benchmark for the applicability of TNMM. In a final example of the firm’s cross-border impact, a team was conducting multilateral negotiations between tax authorities in relation to the TNMM and high B2B trademark fees. The case raises issues that are challenging to resolve without a multilateral framework. NERA’s work on the case will help tax authorities find common ground in such disputes.
These cases put NERA at the fore of some of the most impactful TP work in Germany 2020.
ITR Awards research lead John Harrison said: “We are delighted to be able to present the winners of the 17th annual ITR EMEA Tax Awards. It is unfortunate that we must host the awards virtually, however it is important to note that we have remained committed to recognising the achievements and top work in tax from across the region. We have seen a great deal of strong and impactful work by tax practitioners this year—which is all the more impressive with having to adapt to new ways of working and helping clients throughout the pandemic. We believe it is of the utmost importance to highlight these achievements. We are hopeful that we will be able to celebrate with the nominees and winners in person next year.”
Notes for Editors:
About the ITR EMEA Tax Awards
Now in its 17th year, the ITR EMEA Tax Awards 2021 will celebrate the leading tax and transfer pricing firms and practitioners from across the EMEA region. Following months of research, interviews, and peer review, winners will be judged for their innovation, complexity, and impact. During the virtual ceremony, ITR will also announce the winning impact deals, cases, and in-house tax professionals of the year. Winners are to be announced in a virtual ceremony on 9 September.
The awards program is supported by Legal Media Group sister legal titles: Managing IP, International Financial Law Review, Benchmark Litigation, and Expert Guides.
To view the full list of winners, watch the ceremony, and access additional information regarding the awards program, please visit internationaltaxreview.com.
About NERA
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, we have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation.
NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing our legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.