KPMG’s Danish tax advisory practice continues its strong growth: According to the recently adopted annual report, KPMG Acor Tax P/S’ revenue increased to DKK 95 million in 2015, corresponding to an increase of more than 150% compared to last year. The progress is expected to continue in 2016, and KPMG Acor Tax expects growth of 30-40%. The organisational expansion continues.
The practice today services more than half of the companies in the C20 CAP index on Nasdaq Copenhagen and over half of the 20 largest companies in Denmark on tax consultancy related to, among other things, establishing business in Denmark and abroad, restructuring, M&A (including tax due diligence and structuring transactions), double taxation, transfer pricing, tax controversy, expatriate services, incentive programs, VAT and duties, etc.
”We are seeing increasing demand from existing clients and continued intake of new clients, and we are very pleased with the start we have had as a new member firm in the KPMG network. From day 1, we have had an ambition to create a different and more agile advisory firm driven by passion, the highest professional standards and a mutual dream of creating the future of tax consultancy. That mind-set has attracted some of the strongest profiles in the industry,” said Managing Partner Ole Schmidt.
The organisation has grown significantly as the business has increased. KPMG Acor Tax now has 90 dedicated partners and employees – more than ten times the figure in January 2014 when the company had 8 employees.
Most recently, Søren Dalby Madsen was appointed Partner as of 1 May 2016. Søren Dalby Madsen joins KPMG Acor Tax from a position as Global Head of Tax at Arla Foods Amba, and he will particularly serve as a sparring partner for Denmark’s largest companies and assist them within the areas of tax strategy, development and competencies mapping in tax departments etc., based at KPMG’s Aarhus office. Søren Dalby Madsen has been appointed head of KPMG Acor Tax’ business in Jutland and member of the firm’s overall management team.
”Our cross-functional collaboration and deep understanding of clients’ specific demands are fundamental preconditions to us and highly valued by clients and colleagues. In addition, the international KPMG network entails that we are perceived as an attractive collaboration partner in both Denmark and abroad, which is central for solving complex tax matters across borders,” said Partner and chairman Ria Falk. About KPMG Acor Tax KPMG Acor Tax P/S is a tax advisory firm with offices in Hellerup and Aarhus. The firm was founded on 1 January 2012 and became a member of the KPMG network on 1 August 2014 where the company changed its name to KPMG Acor Tax. The company and KPMG P/S together constitute KPMG’s Danish activities with a total of more than 450 employees in the areas of audit, assurance, tax advisory services, management consulting, risk consulting and deal advisory, and which reported total revenue of more than DKK 300 million for 2015. The annual report for 2015 can be read here , and KPMG P/S’ annual report can be seen here.