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Australia’s Business Tax Working Group (BTWG) has released a consultation document exploring the merits of a reduction in the corporate tax rate, calculating the cost of reaching Ken Henry’s suggested 25% rate at A$26 billion ($27 billion).

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition Undisclosed Carlyle Group and TCW Management Societe Generale stake in TCW Simpson Thacher & Bartlett; Debevoise & Plimpton Skadden, Arps, Slate, Meagher & Flom Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Notes offering $2.5 billion PepsiCo Citigroup Global Markets; Morgan Stanley; RBS Securities Davis Polk & Wardwell - Avishai Shachar, William Curran Jones Day Notes offering $500 million Korea Finance Deutsche Bank; Korea Development Bank; Merrill Lynch; Morgan Stanley Cleary Gottlieb Steen & Hamilton; Kim & Chang Davis Polk & Wardwell - John Paton, Sarah Joy SEC-registered dribble-out offering $500 million Westar Energy BNY Mellon Capital Markets Davis Polk & Wardwell Hunton & Williams Secondary offering $308 million Vantiv JP Morgan Securities; Morgan Stanley; Credit Suisse Securities Weil, Gotshal & Manges; Kirkland & Ellis Davis Polk & Wardwell - Harry Ballan, William Curran Notes offering $300 million Ingram Micro Morgan Stanley; RBS Securities Davis Polk & Wardwell - Rachel Kleinberg, Changsheng Song Notes offering $200 million Isis Pharmaceuticals Goldman, Sachs; JP Morgan Securities Cooley Davis Polk & Wardwell - Rachel Kleinberg, Isaac MacDonald

Type of Agreement Country Country Date Signed Tax information exchange agreement India Guernsey August 9 2012

Twenty-one African countries have reached a consensus on the text of an African Agreement on Mutual Assistance in Tax Matters.

Argentinian lawyer, Guillermo Teijeiro, has launched a new firm.

Henri Prijot of Deloitte Luxembourg analyses the limitation of benefits (LoB) provision in the recently updated Luxembourg-Poland treaty.

What the future holds for Japan's indirect tax system; the UK updating its CFC regime; and US lawmakers agreeing how to speed up tax reform were just three articles that appeared on ITR Premium last week.

Natalie Napier has joined ENS – Taxand as a director in Johannesburg, specialising in corporate tax.

A new paper from the MIT Global Change Institute has increased demand for a carbon tax in the US.

India's Authority for Advance Rulings (AAR) remains unchanged under the Indian Income Tax Act despite a Supreme Court judgment questioning its status, argue Sanjay Sanghvi and Surajkumar Shetty of Khaitan & Co.