Angelika Thies

Prof. Dr. Angelika Thies

Partner
Tax Adviser

CMS Hasche Sigle
Nymphenburger Straße 12
80335 Munich
Germany
Languages German, English

Angelika Thies has long-standing experience advising on complex corporate, private equity and real estate transactions, including tax due diligence and tax structuring. Her German and international tax law expertise is also sought in the context of reorganising groups of companies, establishing employee participation schemes and business succession. She often advises her clients on an ongoing basis on tax planning and tax structuring and represents them in German fiscal courts. Moreover, Angelika regularly advises internationally operating companies on transfer pricing issues that can, for instance, arise in the case of a business policy change or in the context of documentation obligations and tax audits.

From 1996 to 2002, Angelika worked for PricewaterhouseCoopers in Frankfurt, including secondments to London and New York, and was made partner in 2000. She then joined Ernst & Young as a partner in the transactional tax practice and in 2004, she joined CMS Hasche Sigle as a tax law partner. Alongside her tax advisory practice, Angelika is a honorary professor for M&A and international tax law at the University of Mainz.

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Relevant experience

Germany

  • Providing tax advice to the private investment company of Gregory Ingram und Francis Louvard, e.g., on acquiring nearly 90% of the shares in funds and asset management company KGAL GmbH & Co. KG

  • Advising an internationally operating technology company in the context of international tax structuring issues

  • Providing tax advice to Invesco Real Estate on acquiring different properties, e.g., Prager Carrée (residential and retail development) in Dresden

  • Providing tax advice to a motorcycle manufacturer in the context of transfer pricing and transfer pricing documentation

  • Providing tax advice to the property company of Freo and Rockpoint Group on selling Munich Central Towers, one of the highest buildings in Munich

  • Providing tax advice on a long-term basis to a group in the hotel management sector with regards to various internal reorganisations

Austria

  • Providing tax advice to an Austrian real estate company with a complex corporate structure in the context of its possible tax liability in Germany

  • Providing tax advice to an Austrian company in the context of VAT audit

  • Providing tax advice to an Austrian sporting goods e-commerce company in the context of transfer pricing issues

France

  • Providing tax advice to a French company in the plastics processing sector with regards to a planned, comprehensive reorganisation of the group

  • Providing tax advice to a French pharmaceutical company in connection with the reduction of German withholding tax on license fees

  • Providing ongoing advice to a French aviation supplier in the context of specific tax issues related to its German subsidiary

USA

  • Providing ongoing advice to companies with US headquarters regarding German tax structuring and transfer pricing matters

  • Advising German companies on tax structuring in the context of their US expansion

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Education

  • 1997: Admitted as a certified tax advisor

  • 1992 - 1996: Research assistant at the University of Munich’s accounting and auditing department and PhD under the supervision of Professor Dr. Dr. h.c. Wolfgang Ballwieser

  • From 1987: Studied economics at the University of Hanover; graduation with a degree in economics in 1992

  • 1981 - 1987: Training and working as an assistant tax advisor

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Publications

  • Angeschaffte Verpflichtungen – ein Chamäleon des Steuerbilanzrechts, in: Dobler, Michael/Hachmeister, Dirk/Kuhner, Christoph/Rammert, Stefan (Editor): Rechnungslegung, Prüfung und Unternehmensbewertung, Stuttgart 2014, p. 873-896

  • Update of the commentary to transfer pricing rules in the Country Report, Chapter 10: Germany, in: Duff & Phelps (Editor): Guide to International Transfer Pricing; Law, Tax Planning and Compliance Strategies, 3rd Edition, Alphen aan den Rijn/The Netherlands 2013, p. 477–516

  • Ausgewählte Maßnahmen zur Besserung der wirtschaftlichen Lage des Schuldners im Falle wertgeminderter Forderungen, in: CMS Hasche Sigle (Editor): Steueroptimierte Gestaltungen in Restrukturierung, Sanierung und Insolvenz, Stuttgart 2013, p. 330-348

  • Sitzverlegung nach Luxemburg in der Praxis, in: BB, volume 67 (2012), p. 1891-1899, together with Herbert Wiehe

  • Update of the commentary to transfer pricing rules in the Country Report, Chapter 10: Germany, in: Ceteris (Editor): Guide to International Transfer Pricing; Law, Tax Planning – Online internet version 2012

  • Update of the commentary to transfer pricing rules in the Country Report, Chapter 10: Germany, in: Ceteris (Editor): Guide to International Transfer Pricing; Law, Tax Planning and Compliance Strategies 2011/2012, 2nd Edition, Alphen aan den Rijn/The Netherlands, 2012

  • BFH: Verlustabzugsverbot bei unterjährigem schädlichen Beteiligungserwerb, GWR 2012, p. 141

  • Update of the commentary to transfer pricing rules in the Country Report, Chapter 9: Germany, in: Ceteris (Editor): Guide to International Transfer Pricing; Law, Tax Planning – Online internet version 2011

  • BFH: Mindestlaufzeit des Gewinnabführungsvertrages bei körperschaftsteuerlicher Organschaft bemisst sich nach Zeitjahren, GWR 2011, p. 273

  • BFH: Ringweise Anteilsveräußerungen und –erwerbe zur Verlustnutzung im Gesellschafterkreis sind grundsätzlich kein Gestaltungsmissbrauch, GWR 2011, p. 148

  • BFH: Ausgabe von Aktienoptionen an Mitarbeiter ist erfolgsneutral, GWR 2011, p. 24

  • Commentary to transfer pricing rules in the Country Report, Chapter 9: Germany, in: Ceteris (Editor): Guide to International Transfer Pricing; Law, Tax Planning and Compliance Strategies 2010/2011, Alphen aan den Rijn/The Netherlands 2010, p. 1-45

  • BVerfG: Gewerbesteuerpflicht von Freiberufler-Kapitalgesellschaften ist verfassungsgemäß, GWR 2010, p. 334

  • Auswirkungen des BilMoG auf Gewinnabführungsverträge und steuerliche Organschaften, GWR 2009, p. 187-189

  • Mit dem Bilanzrechtsmodernisierungsgesetz zurück in die Zukunft – was wird aus Kapitalerhaltung und Besteuerung? In: WPg, volume 62 (2009), p. 34-36, together with Stefan Rammert

  • New rules in German transfer pricing, in: Transfer Pricing Week (International Tax Review), online article of 10 December 2008

  • Transfer Pricing Regulations and General Practice in Germany, in: Pierre-Jean Douvier, Stéphane Gelin, Bruno Gibert and Arnaud Le Boulanger (Editors): Prix de transfert, Paris 2008, p. 276-283 (Législations étrangères, Section II: Allemagne), together with Annette Kenk

  • Permanent Establishment and Transfer Pricing: Two Sides of the Same Coin? In: Tax Planning International, Transfer Pricing, BNA International 2005, p. 3-9, together with Carlo Romano, Giovanni B. Calì, Hamilton Forrest, Jochem de Koning, Arnaud Le Boulanger and Stéphane Gelin

  • Die Besteuerung des Unternehmenskaufs von der Börse, in: Schaumburg, Harald (Editor): Unternehmenskauf im Steuerrecht, 3rd Edition, Stuttgart 2004, p. 399-435, together with Stefan Köhler

  • Einfluss von Steuern auf die Ermittlung subjektiver Unternehmenswerte, in: Richter, Frank/Timmreck, Christian (Editors): Unternehmensbewertung. Moderne Instrumente und Lösungsansätze, Stuttgart 2004, p. 303-321, together with Alexander Ziegelmaier

  • Steuerliche Optimierung bei Buy Outs durch Private Equity-Gesellschaften, in: M&A Review (MAR) 2003, p. 479-484

  • Anwendung des Check-The-Box-Systems auf die KGaA als Joint Venture-Vehikel, in: IStR, volume 11 (2002), p. 397-405, together with Axel Kroniger

  • Germany’s New Dual Consolidated Loss Rules Demand Further Clarification, in: International Tax Report, May 2002, p. 6-8, together with Dieter Endres

  • Bekämpfung doppelter Verlustnutzung im UntStFG - Oder: Wer danebenschießt, muss eine Strafrunde laufen, in: RIW, volume 48 (2002), p. 275 280, together with Dieter Endres

  • Steuern in den USA. Ein Leitfaden für deutsche Investoren, published by PricewaterhouseCoopers and the American Chamber of Commerce in Germany, Frankfurt/Main 2001, Co-Author

  • Spaltung eines international tätigen, börsennotierten Konzerns und die sog. "schädliche Veräußerung" im Sinne des § 15 Abs. 3 S. 2 bis 5 UmwStG, in: DB, volume 52 (1999), p. 2179-2183

  • Controlled Foreign Companies: the German Rules in Theory and Practice, in: INTERTAX (1998), p. 293-300, together with Dieter Endres

  • Rückstellungen als Problem der wirtschaftlichen Betrachtungsweise, Frankfurt am Main 1996 (Dissertation), 1996

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Lectures list

"Steuerliche Aspekte der Akquisitionsfinanzierung" ("Tax Aspects of Acquisition Financing"), presentation within the two-days seminar "Steueroptimale Unternehmensfinanzierung" ("Tax-Optimized Business Financing"), WSF Wirtschaftsseminare/Handelsblatt, Frankfurt am Main, November 2012

"Real Estate Deal Point Study 2012 – Best Practice in Immobilienkaufverträgen" ("Real Estate Deal Point Study 2012 – Best Practice in Real Estate Purchase Agreements"), presentation for "Arbeitskreis Immobilien", Munich, November 2012

"Nachfolgeplanung zum Schutz mittelständischer Unternehmen" ("Succession Planning for the Protection of Family-Owned Businesses"), clients seminar of CMS Hasche Sigle and the private bank Donner & Reuschel AG, Munich, October 2012

"Steuerliche Aspekte der Akquisitionsfinanzierung" ("Tax Aspects of Acquisition Financing"), presentation within the two-days seminar "Steueroptimale Unternehmensfinanzierung" ("Tax-Optimized Business Financing"), WSF Wirtschaftsseminare/Handelsblatt, Cologne, July 2012

"Company Taxation – Applicable Interest Deduction Rules", presentation for clients within a CMS seminar considering aspects of the tax convergence France-Germany, Paris, March 2012

"Real Estate Acquisition Structures in Europe: The Main Tax Issues", workshop for clients during the CMS Annual Tax Conference, Paris, February 2012

"Steuerliche Aspekte der Akquisitionsfinanzierung" ("Tax Aspects of Acquisition Financing"), presentation within the two-days seminar "Steueroptimale Unternehmensfinanzierung" ("Tax-Optimized Business Financing"), WSF Wirtschaftsseminare/Handelsblatt, Wiesbaden, December 2011

"Vermögensnachfolge – Unternehmensnachfolge: Gesellschaftsrechtliche und steuerliche Aspekte für Familienunternehmen" ("Estate Succession Planning – Succession of Companies: Legal and Tax Aspects for Family-Owned Companies"), clients seminar of CMS Hasche Sigle and the private bank Donner & Reuschel AG, Munich, October 2011

"Steuerliche Aspekte der Akquisitionsfinanzierung" ("Tax Aspects of Acquisition Financing"), presentation within the two-days seminar "Steueroptimale Unternehmensfinanzierung" ("Tax-Optimized Business Financing"), WSF Wirtschaftsseminare/Handelsblatt, Cologne, July 2011

"Intangibles, a key source of growth", workshop for clients during the CMS Annual Tax Conference, Paris, February 2011

"Steuerliche Aspekte der Akquisitionsfinanzierung" ("Tax Aspects of Acquisition Financing"), presentation within the two-days seminar "Steueroptimale Unternehmensfinanzierung" ("Tax-Optimized Business Financing"), WSF Wirtschaftsseminare/Handelsblatt, Frankfurt am Main, December 2010

"Neue Gesellschaftsformen – Was verbirgt sich hinter der Limited, der LLP und der SE? Steuerrechtliche Aspekte" ("New Legal Forms – What is a Limited, LLP or SE? Tax Aspects"), presentation within a clients seminar of CMS Hasche Sigle under the title "Women in Business Meet Law, Ein Forum für Unternehmerinnen und weibliche Führungskräfte", Frankfurt am Main, November 2010

"Business Restructuring", workshop for clients during the CMS Annual Tax Conference, Paris, February 2010

"Möglichkeiten und Vorteile der steueroptimierten Altersvorsorge" ("Possibilities and Benefits of a Tax-Optimized Old-Age Benefit Scheme"), seminar for sales people of an insurance company in Nurnberg, Deggendorf und Munich, February 2010

"Steuerliche Aspekte des Asset-Managements" ("Tax Aspects of the Asset Management"), presentation within a clients seminar of CMS Hasche Sigle under the title "Immobilienmarkt im Umbruch: Chancen und Risiken" ("Change of the Real Estate Market: Chances and Risks"), Munich, March 2009

"Principles of German Taxation", presentation within a clients seminar of CMS Bureau Francis Lefebvre, Paris, October 2008

"Deferred Compensation: Wie das Steuerrecht die Vermögensbildung durch Verlagerung der Besteuerung in die Zukunft unterstützt" ("Deferred Compensation: How the Tax Law Supports Building Investments Through a Deferral of Taxation") – presentation within a full-day seminar under the title "Deferred Compensation", American Express Finanzmanagement, Munich, May 2008

"Tax Audits Relating to Transfer Pricing – What is the Approach in Europe?" – presentation on German tax aspects at the CMS Annual Tax Conference (clients seminar) of CMS Bureau Francis Lefebvre, Paris, February 2008

"German Business Tax Reform 2008 – Major Changes for French Corporate Investors", presentation within a clients seminar of CMS Bureau Francis Lefebvre, Paris, October 2007

"Kritische Analyse steuerrechtlicher Aspekte des geplanten Wagniskapitalgesetzes" ("Critical Analysis of Tax Aspects of the Planned Venture Capital Act"), discussion within a Private Equity breakfast (clients seminar) of CMS Hasche Sigle, Berlin, July 2007

"Grenzüberschreitende Verschmelzungen" ("Cross-Border Mergers"), presentation on tax aspects within a clients seminar of CMS Hasche Sigle, Munich, April 2007

"Lohnt sich das Zeitwertkonto aus steuerlicher Sicht?" ("Is a Long-Term Time Account Worthwhile from a Tax Perspective?"), presentation within various full-day seminars under the title "Zeitwertkonten" ("Long-Term Time Accounts"), American Express Finanzmanagement, Munich, April, May, October and November 2006

"German REIT – Workshop zum aktuellen Stand" ("German REIT – Workshop on the Actual Status"), presentation within a workshop of CMS Hasche Sigle and Deutsche Börse, Frankfurt am Main, October 2006

"US Investments - Steuerrechtliche Aspekte" ("US Investments – Tax Aspects"), presentation within a full-day seminar under the title "USA-Geschäft: Wilder Westen – Halb so wild!" ("U.S.A. Business: Wild West – Not at All That Wild"), Alston + Bird LLP/CMS Hasche Sigle, Munich, May 2006

"Steuerrechtliche Aspekte des Offshoring, insbesondere Osteuropa" ("Tax Aspects in Connection with Off Shoring Activities – Eastern Europe"), presentation within a full-day seminar under the title "Chancen und Risiken von Offshoring" ("Chances and Risks of Off Shoring"), Bayerischer Unternehmensverband Metall und Elektro e.V. (BayME), Munich, September 2005

"Doing Business in den USA – Steuerliche Aspekte aus deutscher Sicht" ("Doing Business in the U.S.A. – Aspects from a German Tax Perspective"), presentation within two three-days seminars under the title "Der Amerika Manager" ("The American Manager"), Management Circle, Munich and Frankfurt am Main, July 2005

"Steuerliche Aspekte bei der Unternehmensexpansion" ("Tax Aspects for a Business Expansion"), presentation within a full-day seminar "Management Forum 2005", BayTech ISM – Institut für Strategisches Management/CMS Hasche Sigle, Munich, April 2005

"Akquisitionsfinanzierung unter steuerlichen Gesichtspunkten" ("Acquisitions Financing Under Tax Aspects"), presentation for the Munich Workshop for Accounting and Auditing, Ludwig-Maximilian-University of Munich, December 2004

"Unternehmenskauf und –verkauf steueroptimal gestalten" ("Tax Optimization for Business Acquisitions and Business Disposals"), two-days seminar on tax aspects (presentation on "Organschaftsfragen beim Unternehmenskauf und –verkauf"/"Questions of a Group Taxation in Connection with Business Acquisitions and Business Disposals"), WSF Wirtschaftsseminare, June 2004

"Steuerliche Optimierung von Unternehmenstransaktionen" ("Tax Optimization of Business Transactions"), presentation within the seminar "Unternehmensbewertung" ("Business Valuation"), Management Forum Starnberg, April 2004

"Gewerbesteuer 2004 – Geplante Änderungen im Steuerrecht für Unternehmen" ("Trade Tax 2004 – Planned Changes on Business Taxation"), Management Circle, full-day seminar in December 2003 and January 2004, together with Gert Müller-Gatermann, Ministerialdirigent at the German Federal Ministry of Finance

"Geplante Unternehmensbesteuerung 2004" ("Planned Changes on the 2004 Business Taxation"), presentation at the university of Marburg, Institute for Taxation, Prof Dr Michael Wehrheim, December 2003

"Steuerliche Besonderheiten einer Holdinggesellschaft" ("Tax Specialties of a Holding Company"), presentation within three full-day seminar on tax aspects under the title "Die Holding" ("The Holding"), WSF Wirtschaftsseminare, June 2003, November 2003 und May 2004

"Steuerliche Optimierung bei Buy-Outs" ("Tax Optimization for Buy-Outs"), presentation within the seminar "Private Equity: Beteiligungsgeschäft in Deutschland" ("Private Equity: Participation Business in Germany") at the university of Witten/Herdecke, Institute for Mergers & Acquisitions (Prof Dr Frank Richter), May 2003

"Steuerliche Aspekte bei M&A" ("M&A Tax Issues"), seminar at the university of Witten/Herdecke, Institute for Mergers & Acquisitions (Prof Dr Frank Richter), December 2002

"Steuern bei Investitionen in den USA" ("Investing in Germany – Tax Issues"), American Chamber of Commerce in Germany/ PricewaterhouseCoopers, full-day seminars in February and September 2001

"Introduction to German Corporate Tax", The European-American Tax Institute, full-day seminars in New York, Chicago and San Jose in February und March 2000

Tax questions in connection with lunch vouchers, seminars on different tax topics for the employees of a client, full-day seminars in 1997-2000 (once a year)

"Gewerbesteuerliche Dauerschulden" ("Long-Term Debt for Trade Tax Purposes"), "Leasingstrukturen" ("Leasing Structures") and "Going Public", seminars for employees of a major German bank, full-day seminars during September 1997 and November 2001 (about two to three times a year)

"Internationale Bilanzen und Steuern" ("International Accounting and Taxation"), seminar on the comparison of HGB – IAS – US GAAP as well as on aspects of international taxation for employees of a major German bank, two-days seminars during November 1997 and December 1999 (about three times a year)

Workshop "Tax Due Diligence - Vertiefungsforum", Euroforum/Handelsblatt Verlag, full-day seminars in May und November 1997

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