For some observers, the studies connected with the Big Four of the revision are increasing the area of activity beyond mere compliance to invade the field of the most “noble” tax advice, taking full advantage of the potential of the reference network. At the same time, customers, who have become more sophisticated and demanding, also begin to perceive some activities in the field of tax advice, particularly in terms of accessions and conciliations, as commodities.
«Competition has increased», confirms Bruno Gangemi at the helm along with Stefano Petrecca of the tax department at Macchi di Cellere Gangemi. “Until a few years ago – explains Gangemi – most of the structured law firms did not have a tax department or had at most a couple of professionals dedicated to tax. Today, however, almost all structured law firms have a medium to large tax department in proportion to the rest of the study. Consequently, the space for the so-called boutiques is thinning”.