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  • Chris Jordan, formerly the head of KPMG in New South Wales, will succeed Michael D’Ascenzo as commissioner of the Australian Taxation Office in January 2013.
  • The UK Government’s Public Accounts Committee (PAC) yesterday questioned top executives at Amazon, Google and Starbucks about their corporate tax affairs in the UK against a backdrop of growing public concern and resentment over tax avoidance by large multinational companies.
  • KPMG's new leader of Global Indirect Tax, Tim Gillis, talks about the continuing surge in popularity of this global tax of choice and tells companies how to prepare for the indirect tax challenges of tomorrow
  • A series of articles from KPMG looks at the complex challenges facing tax directors who want to re-imagine their operations and reshape their long-term strategies.
  • The new edition of World Tax, International Tax Review's annual directory of leading firms around the world, is now live.
  • The OECD and business representatives explored the emphasis placed on anti-abuse provisions in the OECD’s draft on the transfer pricing aspects of intangibles today in Paris.
  • Type of treaty Country Country Date signed Double Taxation Avoidance Agreement India Spain October 26 2012 Double Taxation Avoidance Agreement (amendment) Cyprus Ukraine November 8 2012
  • FATCA agreement between US and Australia; iXBRL in Ireland; Dividend withholding tax refunds in Germany; Chidambaram to look at DTC; Fortescue in Australian High Court over MRRT; Australian GST debate; ECJ rules on Belgian withholding tax; Prudential's privilege case in UK Supreme Court
  • TYPE OF DEAL VALUE ACQUIRER TARGET ADVISER TO ACQUIRER (TAX) ADVISER TO TARGET (TAX) Acquisition $1.8 billion Priceline.com Kayak Software Sullivan & Cromwell - Ronald Creamer Bingham McCutchen Acquisition $1.29 billion Diageo United Spirits (United Breweries) Slaughter and May / Platinum Partners Amarchand & Mangaldas - Nanda Shah / Herbert Smith Freehills Merger $575 million Stifel Financial KBW Bryan Cave Sullivan & Cromwell - Ronald Creamer Acquisition $350 million Allied Security Trust MIPS Technologies (patent portfolio) Fenwick & West - Michael Solomon / Morrison & Foerster Skadden, Arps, Slate, Meagher & Flom Merger $231 million PacWest Bancorp First California Financial Wachtell, Lipton, Rosen & Katz Skadden, Arps, Slate, Meagher & Flom Acquisition $215 million Northern Tool + Equipment Redcats USA (Sportsman's Guide/Golf Warehouse) Wachtell, Lipton, Rosen & Katz Acquisition $167.5 million ARM Holdings MIPS Technologies (patent portfolio) Davis Polk & Wardwell Skadden, Arps, Slate, Meagher & Flom Acquisition Undisclosed Baidu iQiyi.com Davis Polk & Wardwell TYPE OF DEAL VALUE ISSUER / BORROWER LEAD MANAGERS / ARRANGERS ADVISER TO ISSUER / BORROWER ADVISER TO LEAD MANAGERS Amended and Restated Revolving Credit Facilities $4.2 billion PPL Corporation Wells Fargo / Merrill Lynch / RBS / Barclays / Bank of Nova Scotia / Mitsubishi UFJ Pillsbury Winthrop Shaw Pittman Davis Polk & Wardwell - Rachel Kleinberg Notes Offering $2.4 billion General Dynamics J.P. Morgan / Merrill Lynch / RBS / Wells Fargo Jenner & Block Davis Polk & Wardwell - Alon Gurfinkel Senior Notes Offering $2 billion Aetna Goldman Sachs / UBS / J.P. Morgan / Morgan Stanley / RBS Davis Polk & Wardwell - Harry Ballan Senior Notes Offering $1.31 billion E*TRADE Merrill Lynch / Goldman Sachs / Morgan Stanley Davis Polk & Wardwell - Rachel Kleinberg Cahill Gordon & Reindel Block Trade $1.1 billion LyondellBasell Deutsche Bank Baker Botts Davis Polk & Wardwell - Michael Farber Senior Unsecured Notes Offering $1 billion Alimentation Couche-Tard National Bank Financial / Scotia Capital / HSBC / UBS / Desjardins Securities / Barclays Davies Ward Phillips & Vineberg Senior Notes Offering $800 million Stanley Black & Decker Citigroup / Credit Suisse / Goldman Sachs / J.P. Morgan Skadden, Arps, Slate, Meagher & Flom Davis Polk & Wardwell - Po Sit Notes Offering $700 million Praxair Citigroup / Deutsche Bank / RBS Cahill Gordon & Reindell Davis Polk & Wardwell - Samuel Dimon Revolving Financing Program $675 million Ingram Micro The Bank of Nova Scotia / BNP Paribas Davis Polk & Wardwell Mayer Brown Loan Credit Facility $650 million McJunkin Red Man Corporation Goldman Sachs / Bank of America Davis Polk & Wardwell - Rachel Kleinberg, Michael Farber Fried, Frank, Harris, Shriver & Jacobson Notes Offering $500 million PepsiCo Deutsche Bank / HSBC / UBS Davis Polk & Wardwell - Avishai Shachar, Lucy Farr Jones Day Subordinated Notes Issue $500 million United Overseas Bank WongPartnership / Linklaters Linklaters Singapore Notes Offering $400 million Kennametal J.P. Morgan / Merrill Lynch / RBS Buchanan Ingersoll & Rooney Davis Polk & Wardwell - Harry Ballan Medium Term Note Issue $312.5 million DBP Group Westpac / CBA King & Wood Mallesons Allens Linklaters Guaranteed Senior Notes Offer $300 million Ausdrill King & Wood Mallesons / Skadden, Arps, Slate, Meagher & Flom Shearman & Sterling / Allens Linklaters
  • Working Party No 6 has been discussing the practicality of safe harbours at the public consultation on the OECD’s transfer pricing work in Paris today.