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  • Both formerly of Gray’s Inn Tax Chambers, Aparna Nathan and Marika Lemos have joined the tax group at Devereux Chambers.
  • Prior to joining Blakes, Alexandra Brown was a partner at a small litigation firm and served as senior counsel at the Department of Justice (Canada), where she practiced for over 20 years.
  • Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $270 million Telstra Corporation Ltd. Ooyala Inc. Fenwick & West - Adam Halpern, Ora Grinberg, Elnaz Manoucheri, Jennifer Johnson Acquisition Undisclosed Answers Corporation Apax Partners Fenwick & West Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Senior Notes Offering $3.6 billion Synchrony Financial Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC Weil Gotshal & Manges, Covington & Burling, Sidley Austin Davis Polk & Wardwell - Harry Ballan Senior Notes Offering $3.25 billion Tyson Foods Inc. Davis Polk & Wardwell - Neil Barr, William Curran, Adam Bedzow Weil, Gotshal & Manges Credit Facility $3.2 billion Eli Lilly & Co. JPMorgan Chase Bank, N.A. Covington & Burling Davis Polk & Wardwell Notes Offering $2 billion Comcast Corporation Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Lloyds Securities Inc., Mizuho Securities USA Inc., and SunTrust Robinson Humphrey, Inc. Davis Polk & Wardwell - Rachel Kleinberg MTN Program $2 billion Greenland Hong Kong Holdings Ltd. Credit Suisse Securities (Europe) Ltd., The Hongkong and Shanghai Banking Corporation Ltd., BOCI Asia Ltd., J.P. Morgan Secrurities plc, and Morgan Stanley & Co International plc Conyers Dill & Pearman, AllBright Law Offices, Davis Polk & Wardwell - Alon Gurfinkel, Rhiannon Nakano Linklaters, Commerce & Finance Law Offices Senior Notes Offering $575 million Jazz Pharmaceuticals J.P. Morgan Securities LLC and Barclays Capital Inc. Davis Polk & Wardwell - Michael Farber, Rachel Kleinberg, Aaron Weil Notes Offering $500 million Greenland Hong Kong Holdings Ltd. Credit Suisse Securities (Europe) Ltd., The Hongkong and Shanghai Banking Corporation Ltd., BOCI Asia Ltd., J.P. Morgan Secrurities plc, and Morgan Stanley & Co International plc Conyers Dill & Pearman, AllBright Law Offices, Davis Polk & Wardwell - Alon Gurfinkel, Rhiannon Nakano Linklaters, Commerce & Finance Law Offices Notes Offering $500 million KEXIM ANZ Securities, BNP Paribas, Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Standard Chartered Bank and Daewoo Securities Co., Ltd. Cleary Gottlieb Steen & Hamilton, Lee & Ko Davis Polk & Wardwell - Alon Gurfinkel, Lena Qiu Term Loan Financing $350 million Tribune Publishing Company J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce Fenner & Smith Inc., Citigroup Global Markets Inc. and Barclays Bank PLC Debevoise & Plimpton Davis Polk & Wardwell - Michael Farber, Adam Perry Block Trade $243 million Umpqua Holdings Corporation J.P. Morgan Securities LLC Wachtell Lipton Rosen & Katz, Weil Gotshal & Manges, Thomas H. Lee Partners, L.P. Kirkland & Ellis Davis Polk & Wardwell - Michael Farber ABL Financing $140 million Tribune Publishing Company Bank of America, N.A. Debevoise & Plimpton Davis Polk & Wardwell Initial Public Offering $68.4 million Loxo Oncology Inc. Cowen and Company LLC and Stifel, Nicolaus & Company Inc. Fenwick & West Davis Polk & Wardwell - Rachel Kleinberg, Sam Van Peperstraete Initial Public Offering $56.4 million Auris Medical Holding AG Jefferies LLC, Leerink Partners LLC Davis Polk & Wardwell - Harry Ballan Latham & Watkins, Homburger AG
  • HM Revenue & Customs (HMRC) has opened a consultation into how the Common Reporting Standard (CRS) should be incorporated into UK law.
  • The IRS transfer pricing audit roadmap was created to improve the efficiency and consistency of transfer pricing audits, placing greater emphasis on the process of individual cases.
  • By Luis Coronado and Stephen Lam, Ernst & Young Singapore
  • A Swedish committee on corporate taxation has proposed reforms to limit interest deductibility in the country. Borje Noring, tax auditor at the Swedish Tax Agency, Skatteverket, reacts to the proposals, which have drawn criticism from US business representative groups.
  • The Delhi High Court has decided, in Zaheer Mauritius vs Director of Income Tax, that the sale of compulsory convertible debentures (CCDs) should be classified as capital gains and exempt under the India-Mauritius double tax treaty (DTT). The decision will mean most to real-estate taxpayers who use Mauritius to invest in India.
  • Phase II of the Appeals Judicial Approach and Culture (AJAC) project in the US provides that the Appeals division of the Internal Revenue Service will not accept new cases unless there is at least 365 days remaining on the statute of limitations, but this may lead to more cases heading for litigation.
  • The government has proposed changes to Japanese consumption tax (JCT) place of supply rules, so the levy applies equally to foreign and domestic suppliers of digital services.