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From October 2014, Singapore will fully implement advance export declaration (AED), which will require all exporters to submit export declarations to Singapore Customs authorities before the physical export of goods.

Jay Nibbe is to succeed David Holtze as EY’s global vice chair for tax. He chairs the firm’s tax executive committee and is also a member of the firm’s global executive, its highest management body. He will continue to advise clients in his new role.

By Qisheng Yu, Amy Cai and Wing Siu, PwC China

Between 1983 and 2004 there were 29 inversion transactions out of the US. In the decade following, almost 50 companies restructured using the method. With foreign profits trapped offshore by an outdated, worldwide system which would hit them with a tax on repatriation, as well as a high tax rate, the temptation to consider an inversion is proving too much for US companies, particularly those in the highly-mobile pharmaceuticals sector. Whatever the motivation, inversions are in vogue. ITR’s special report looks at the knock-on impacts of the current wave of inversions, including shareholder pressure to consider an option they see their rivals pursuing and the possible inflammation of the tax morality debate in the US. We also bring you exclusive insight as to why Danaher is not looking to invert.

By Evgenia Veter, Steve Cawdron and Anuar Mukanov of EY Russia

Alterations made to controlled foreign corporation (CFC) legislation in Brazil will have a significant impact on the way taxpayers look at foreign profits.

Evelina Stamblewska-Urbaniak has joined Crido Taxand as a partner, and will head the firm’s transfer pricing operations.

The corporate income tax rate in Japan is known to be one of the highest worldwide. To encourage foreign companies to do business in Japan and make Japan a more attractive location for investments, Prime Minister Shinzo Abe is considering reducing the corporate income tax rate to a "competitive rate in the global market".

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $1.8 billion Gannett Cars.com Davis Polk & Wardwell Acquisition $230 million Rocket Fuel Inc. X Plus Two Solutions Inc. Fenwick & West Gunderson Dettmer Stough Villeneuve Franklin & Hachigian Acquisition Undisclosed Facebook PrivateCore Fenwick & West - Larissa Ushakova-Stein Acquisition Undisclosed Square Inc. Caviar Inc. Fenwick & West - Ronald Schrotenboer Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Unsecured Term Loan Facility $8 billion Synchrony Financial Barclays Bank PLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, JPMorgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley Senior Funding, Inc. Weil, Gotshal & Manges and Covington & Burling Davis Polk & Wardwell Revolving Credit Facility $6 billion Merck & Co. Inc. JPMorgan Chase Bank Fried, Frank, Harris, Shriver & Jacobson Davis Polk & Wardwell Initial Public Offering $3.3 billion Synchrony Financial Goldman, Sachs & Co. and J.P. Morgan Securities LLC Weil, Gotshal & Manges and Covington & Burling Davis Polk & Wardwell Concurrent Offerings of Class A Common Stock and Tangible Equity Units $2.4 billion Tyson Foods Inc. Davis Polk & Wardwell - Po Sit, Adam Perry, Adam Bedzow Weil, Gotshal & Manges Accelerated Share Repurchase $750 million Ashland Inc. JPMorgan Chase Bank, National Association, London Branch and Deutsche Bank AG, London Branch Davis Polk & Wardwell Senior Notes Offering $686 million Morgan Stanley Morgan Stanley & Co. LLC, RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Mitsubishi UFJ Securities (USA), Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc. Davis Polk & Wardwell - Lucy Farr, Andrew Smith, Vanessa Rakel Sidley Austin and Davies Ward Phillips & Vineberg High-Yield Notes Offering $300 million Kosmos Energy Ltd. Barclays Capital Inc. and BNP Paribas Conyers & Pearman Ltd., Slaughters & May and Davis Polk & Wardwell - Michael Mollerus, Ameya Bapat High-Yield Notes Offering $185 million Ipreo Merrill Lynch, Pierce, Fenner & Smith Inc., Goldman, Sachs & Co., Credit Suisse Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC Kirkland & Ellis Davis Polk & Wardwell - Harry Ballan, Dao Fu Common Stock Offering $44.9 million Mavenir Systems Inc. Merrill Lynch, Pierce, Fenner & Smith Inc., Deutsche Bank Securities Inc. Andrews Kurth Davis Polk & Wardwell - Michael Mollerus, Ameya Bapat

China has demonstrated a certain degree of resistance towards the OECD guidelines and adopting international policies but it is beginning to show signs of acceptance.