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The Swiss Bankers Association (SBA) has stated that Switzerland’s tax agreement with the UK, which entered into force on January 1 2013, will result in far less revenue for the UK exchequer than previously assumed.

Another US Republican Congressman has taken aim at the Foreign Account Tax Compliance Act (Fatca) in a bid to have the controversial legislation stopped.

French MP releases business tax simplification plan; HMRC renewing efforts to combat VAT fraud in online trading; Alesco GAAR case reaches NZ Supreme Court but likely to lose; Mexican taxpayers get extension for filing of 2012 annual tax report.

Type of Agreement Country Country Date Signed Double Taxation Avoidance Agreement Bahrain Lithuania July 3 2013 Double Taxation Avoidance Agreement Guernsey Isle of Man Entered into force July 5 2013

For certain Mexican taxpayers, it is mandatory to file an annual report in which an external auditor provides an opinion related to the correct fulfillment of tax obligations.

TYPE OF DEAL VALUE ACQUIRER TARGET ADVISER TO ACQUIRER (TAX) ADVISER TO TARGET (TAX) Acquisition $5.75 billion Bank of Tokyo-Mitsubishi Bank of Ayudhya Sullivan & Cromwell / Allen & Overy / Nishimura & Asahi King & Wood Mallesons / Thanathip & Partners Merger $3.1 billion American Realty Capital Trust IV American Realty Capital Properties Weil, Gotshal & Manges Duane Morris Acquisition $2.7 billion Tribune Local TV Holdings Debevoise & Plimpton Dow Lohnes Acquisition $2.2 billion Nokia Siemens Shearman & Sterling Slaughter & May Acquisition $1.03 billion Thoma Bravo Intuit Financial Services Kirkland & Ellis Latham & Watkins - Kirt Switzer Acquisition $1 billion EXCO Resources Chesapeake Energy (Northern Eagle Ford Shale / Haynesville Shale) Wachtell, Lipton, Rosen & Katz Acquisition $661 million CoreLogic Decision Insight Information Group Weil, Gotshal & Manges / O'Melveny & Myers Ropes & Gray / Stikeman Elliott Acquisition $578.2 million Mitsui Chemicals Heraeus Kulzer Holding (Dental) Jones Day Lefosse Advogados Acquisition $542 million Lixil Group ASD Americas Holding Stikeman Elliott Acquisition $438 million Kohlberg & Company Steinway Musical Instruments Ropes & Gray Skadden, Arps, Slate, Meagher & Flom / Gibson, Dunn & Crutcher Acquisition $310 million Dialog Semiconductor iWatt Davis Polk & Wardwell - Rachel Kleinberg / RPC Acquisition $275 million Boston Scientific Bard EP Weil, Gotshal & Manges - Helyn Goldstein, Brenda Coleman Acquisition $220 million Roche Group Constitution Medical Investors Davis Polk & Wardwell - Michael Mollerus All-cash Take-over $172.2 million Dingyi Group Investment Elemental Minerals Norton Rose Fulbright Corrs Chambers Westgarth / Deacon / Stikeman Elliott Acquisition Undisclosed Avista Capital Partners Zest Anchors Weil, Gotshal & Manges - Scott Sonntag Mayer Brown Acquisition Undisclosed Renaissance Learning Subtext Media Fenwick & West - Adam Halpern Acquisition Undisclosed TechMediaNetwork Bestofmedia Bredin Prat - Julien Gayral / Gunderson Dettmer Alerion / Brownrudnick

Baker & McKenzie has promoted 15 members of its global tax team to the position of partner.

Rules imposed on contract R&D centres earlier this year by the Indian government have been relaxed and amended after it transpired foreign multinational companies would incur a tax liability for outsourcing more of their R&D activities to India.

HM Revenue & Customs’ (HMRC) tax assurance commissioner, Edward Troup, has said the UK tax authority’s internal governance for dispute settlements needs to improve and has offered some insight into HMRC’s processes in his annual report for 2012 to 2013.

The New York Supreme Court has rejected wireless network operator Sprint Nextel’s (Sprint) attempt to dismiss the state Attorney General’s claim that it evaded sales tax.