The “solid teamwork and high integrity” of this group makes it “an absolute delight”. It is especially noted for assisting the Portuguese Republic and the Ministry of Finance in the tax and social claims operation. “Aggressive and proactive”, it stakes its reputation on such complex cases as Vivendi’s involvement in the public water supply. The team also advises on the tax aspects of M&A, project finance and privatization transactions. The Clients: Chevron Texaco; BP; Goldman Sachs; Lehman Brothers; JP Morgan Chase; Santander Group; Banca Intesa; Nutrexpa; Telefónica.

One of the most renowned tax practices in the market is that of Morais Leitão, Galvão Teles, Soares Da Silva & Associados, led by tax specialist Francisco Sousa da Camara. The firm boasts the largest team of tax experts, as recognised by the Portuguese Bar Association, in the country. One of the firm’s most complex high profile issues of last year was the tax advice given to the Portuguese government regarding the securitisation of outstanding tax and social security receipts.

Francisco de Sousa da Câmara is renowned for covering complex international tax matters, offering some of the “best tax litigation expertise around”. As leader of the team, he has advised Pestana Group on the reorganization related to the taxation of intellectual and industrial property, namely on international transfer pricing issues.