Search results for

The OECD’s Task Force on Tax and Development has launched a new initiative aimed at bolstering developing countries’ domestic revenues by improving their tax systems.

US President Barack Obama is calling on Congress to enact a number of measures to encourage businesses to move back to the country.

Simmons & Simmons is the latest law firm to prosper from the turmoil at Dewey & LeBoeuf after it hired one of the firm’s tax partners, Bernulph von Crailsheim.

In just over a month, EU member states are set to vote on introducing a financial transaction tax (FTT). The major economies of Europe remain polarised on the issue and agreement has been hard to find, but in an exclusive interview, Algirdas Šemeta, European Commissioner for tax, customs union, audit and anti-fraud explains why he has not given up on an EU-wide FTT, why it remains the best option for taxing the financial sector, and how it could work under enhanced cooperation.

Hong Kong and Malaysia have entered into a new double taxation agreement (DTA), pending ratification, with provisions to clarify that a tax liability on business profits only arises if the company has a permanent establishment (PE) in the other jurisdiction, as well as reducing withholding tax rates and increasing investment opportunities.

The Indian government has long held the view that the India-Mauritius tax treaty is used by foreign investors to avoid capital gains tax payments in India, and the authorities are looking to alter its clauses, though not for the first time.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $7.2 billion DBS Group Danamon WongPartnership Allen & Gledhill Acquisition $750 million Marathon Oil Paloma Partners Jefferies & Co / Baker & McKenzie Baker Botts - Matthew Larsen Acquisition $320 million VINCI Energies EVT Bolze Merger $318 million Hilltop Holdings PlainsCapital Wachtell, Lipton, Rosen & Katz - Joshua Holmes Sullivan & Cromwell - Ronald Creamer Acquisition $120 million CaixaBank BPI Uría Menéndez Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Notes Offering $2.5 billion Diageo Citigroup / Credit Suisse / Deutsche Bank / HSBC / Morgan Stanley / Nomura / RBS Sullivan & Cromwell / Slaughter & May / Morton Fraser Davis Polk & Wardwell - John Paton, Sarah Joy Notes Offering $2.5 billion Devon Energy Goldman Sachs / Morgan Stanley Skadden, Arps, Slate, Meagher & Flom Davis Polk & Wardwell - Lucy Farr, Juelle Gomes Credit Facilities $980 million MSCI Davis Polk & Wardwell - Michael Mollerus Senior Notes Offering $500 million Bank of Ceylon Citigroup / Hongkong and Shanghai Banking Corporation / Merrill Lynch Allen & Overy / Nithya Partners Davis Polk & Wardwell - John Paton, Alon Gurfinkel, Sarah Joy / Julius & Creasy Subordinated Notes Offer $500 million NAB NAB King & Wood Mallesons - David Wood Perpetual Capital Securities Issue $239 million Ascendas DBS / Citigroup / Credit Suisse WongPartnership Allen & Gledhill Initial Public Offering $194 million Bumitama Agri DBS / HSBC Stamford WongPartnership

South Africa's Supreme Court of Appeal last week released the ruling in its first-ever international tax case.

If you enter into a tax dispute in the US, you are probably going to lose. A study has found that the odds are stacked against taxpayers whose battles with the Internal Revenue Service go all the way to the Supreme Court.

Jane McCormick has become head of tax for KPMG in the UK, succeeding Alastair McLeish, who has been in the position since July 2010.