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Australia and FATCA; China gets carbon tax pilot under way; Chile and Poland move to change corporate tax rules; Bad news about National Grid Indus case; R&D tax ruling in US

TYPE OF DEAL VALUE ACQUIRER TARGET ADVISER TO ACQUIRER (TAX) ADVISER TO TARGET (TAX) Acquisition $13.5 billion Citigroup Morgan Stanley Smith Barney Holdings Davis Polk & Wardwell - Neil Barr, Avishai Shachar Wachtell, Lipton, Rosen & Katz - T Eiko Stange Acquisition $6.9 billion SWEPI LP / Chevron USA / EnerVest Chesapeake Energy Wachtell, Lipton, Rosen & Katz / The Commercial Law Group Acquisition $5.5 billion PXP BP Latham & Watkins - Laurence Stein Gardere Wynne Sewell Acquisition $1.14 billion Apax Garda Stikeman Elliott - John Lorito / Simpson Thacher & Bartlett Norton Rose / Séguin Racine Acquisition $952 million FirstMerit Citizens Republic Bancorp Sullivan & Cromwell Acquisition $350 million Infosys Lodestone Linklaters Baker & McKenzie Acquisition Undisclosed IK2007 Fund AXA Private Equity (Unipex Group) White & Case Stikeman Elliott / SJ Berwin TYPE OF DEAL VALUE ISSUER / BORROWER LEAD MANAGERS / ARRANGERS ADVISER TO ISSUER / BORROWER ADVISER TO LEAD MANAGERS US Treasury Common Stock Offering $20.7 billion AIG Davis Polk & Wardwell Notes Offering $2.5 billion Merck & Co. Citigroup / JP Morgan / Merrill Lynch Davis Polk & Wardwell - Po Sit Secondary Offering $561.5 million Warner Chilcott Citigroup Davis Polk & Wardwell - Harry Ballan, Lucy Farr Senior Notes Offering $350 million Verisk Analytics Merrill Lynch / JP Morgan / Wells Fargo Davis Polk & Wardwell - Harry Ballan Skadden, Arps, Slate, Meagher & Flom

More often than not, taxpayers - individual and corporate alike – face challenges in the form of delayed refund of taxes due to long drawn-out pending disputes and litigation with the tax authorities.

The Indian government is attempting to make life easier for importers by making it mandatory to pay customs duty electronically.

Greg Combet, the Australian Minister for Climate Change, this month announced changes to the operation of the carbon pricing mechanism, including the removal of the A$15 ($16) price floor on carbon permits.

Jayne Newton has been appointed as tax investigations director at DLA Piper, within the firm’s litigation and regulatory group.

Shri Justice Altamas Kabir will take over as Chief Justice of India on September 29 following the departure of Justice Sarosh Homi Kapadia.

Deloitte has added to its team in Wales by hiring Rhianne Cox as a director in its tax service line. She will be based in Cardiff.

The US Court of Appeals for the Second Circuit’s ruling against Union Carbide will create headaches for manufacturing companies claiming research and development (R&D) credits.

The European Court of Justice (ECJ) ruled that Portugal’s exit tax rules are incompatible with EU law last week, and its decision will impact all EU taxpayers, as it broadens the scope of an earlier judgment in National Grid Indus.