For Tax & Legal, this was a year to be remembered. We delivered growth beyond our expectations – maintaining our clear client focus, whilst onboarding almost 90 new talents, and continuing our growth in Aarhus and Funen.
We have won recognition, improved our footprint amongst large Danish corporates, continued to deliver a strong growth rate across the business – particularly in Transfer Pricing, Global Employer Services and M&A – and all this while continuing to evolve, so as to match the demands of the future market. All in all, our teams have delivered incredible performance. Their efforts can be seen in the impact we have had – and also in the fact that we are able to report a growth rate of 14 per cent.
Welcoming new talents
Almost 90 new talents were onboarded over the course of last year – both experienced and non-experienced hires. It is a point of pride that we are able to attract these talents to join our team, who in turn help us on our growth journey, all of which revolves around making an impact for society. It continues to be inspiring to see our people do this work, day in and day out, which makes a real difference to the clients we support.
Our people are a key part of our story. Beyond our consistent ability to attract talents, we have also been wowed by the way in which our teams have deployed them. Amidst a changing compliance environment, talents at all levels have risen to the challenge.
Growth beyond our expectations
The year just gone was one in which we grew beyond our expectations. Engagement up across the board – particularly when it comes to our work regarding Global Employer Services and M&A. This was also the case as far as our Transfer Pricing work is concerned. Last year was the first financial year in which companies with foreign subsidiaries had to file Transfer Pricing documentation. Our people responded to this change with aplomb – meeting the needs of our clients and ensuring they were able to comply with new demands.
In fact, our work in this area gained industry recognition: we were crowned Denmark Transfer Pricing Firm of the Year at the International Tax Review’s EMEA awards. Prizes such as these are a testament to our people’s ability to lead the way – providing the specialist knowledge and trust that clients need to navigate the complexities of compliance.
When businesses are undertaking large scale transfor-mations such as change of ERP, corporate structure reorganisation, or a change of the finance and shared service centre setup, tax plays a vital role. Over the past years, new tax compliance requirements have been issued. Therefore, the need for tax advisory and tax assistance related to tax technology and the structuring of data for tax reporting has become an increasingly important area.
Tax & Legal and Consulting are working closely together advising clients on their transformation journey. The ability to look holistically at the data and the requirements for which the data is to be used is playing an increasingly important role on the compliance agenda for companies.
Coming years will be shaped by the further entry of tech into the tax arena – coupled to the ongoing digitalisation of the public sector. We will also continue our journey towards deeper Nordic and global integration. The days when tax was a solely national concern are long gone – and corporates operating in our region demand equally integrated solutions: particularly when it comes to the key areas of Global Employer Services and Transfer Pricing. We will not rest when it comes to ensuring we possess the capabilities to deliver for our clients – at the scale that makes sense for them.