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E&Y tax team exodus: Lawyer & ED Amit Bhagat joins Big 4 rival PwC as partner with team

Bhagat & Team:
Bhagat & Team:

Ernst & Young (EY India) executive director Amit Bhagat joined PricewaterhouseCoopers (PwC) as a partner in the indirect tax practice since September with his team of 12 indirect tax professionals – including two associate directors, a director and managers.

Bhagat said that though each of the “Big Four” (KPMG, EY, PwC and Deloitte) already had indirect tax practices, he would aim would be to build PwC’s practice at the pan-India level, hire the best talent, increase visibility in the market and offer the highest quality services.

“The market is opening up. There is a lot of traction. Indirect tax is gaining greater significance and attention in business transactions and operations,” he commented. “There is a lot of expectation with the major tax regime change with the goods and services tax [that] there would be a lot of activity.”

“It’s more of a competition among the Big Four,” he added when asked about whether law firms’ efforts at building tax practices were giving the accountants a run for their money, noting that law firms were not at a level yet to be major competitors to the Big Four.

Bhagat started his career as a lawyer in 1998 at litigation firm JB Dadachandji, which he said was a “legendary law firm” at the time. He moved to EY as a senior executive in 2003.

An EY spokesperson did not respond to a message seeking comment.

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