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The just-enacted Finance Act 2012 introduces some welcome measures for the Irish investment funds industry.

The OECD’s tax chief says the organisation is the standard setter when it comes to promoting tax information exchange and tackling tax avoidance, but it’s a bold claim to make when the standard it is advocating relies on a flawed model.

Australian Treasurer Wayne Swan used today’s budget speech to confirm the retention of the 30% corporate tax rate, introduce new loss carry-back measures, and alter the treatment of capital gains.

Srinivasa Rao has been elected as Ernst & Young's global COO.

India’s parliament today passed amendments to the much-criticised Finance Bill 2012, including delaying the implementation of the general anti-avoidance rule (GAAR) by one year, and shifting the burden of proof from the taxpayer.

Microsoft’s recent US transfer pricing victory should force states to rethink the practice of outsourcing transfer pricing assessments, say advisers.

Type of treaty Country Country Date signed Double Taxation Avoidance Agreement Canada Serbia April 27 2012 Double Taxation Avoidance Agreement Bahrain South Korea May 2 2012

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $5.3 billion Energy Transfer Partners Sunoco Latham & Watkins - Timothy Fenn, Laurence Stein Wachtell, Lipton, Rosen & Katz - Eiko Stange / Michael Sabbah Acquisition $2.2 billion Starlight Investments TransGlobe Apartment REIT Cassels, Brock & Blackwell / Bloom Lanys / Stikeman Elliott Blake, Cassels & Graydon Acquisition $2 billion Wolverine Worldwide / Blum Capital / Golden Gate Collective Brands Sullivan & Cromwell - Ronald Creamer Acquisition $1.3 billion Terra Firma Four Seasons Health Care Slaughter & May Macfarlanes Acquisition $1.02 billion Glory Talaris Topco Hengeler Mueller / Slaughter & May / Bredin Prat / Mori Hamada & Matsumoto Clifford Chance Acquisition $300 million Microsoft Barnes & Noble Simpson Thacher & Bartlett Cravath, Swaine & Moore Acquisition $137 million Pramerica 215 Adelaide Street King & Wood Mallesons Allens Arthur Robinson Joint Venture Undisclosed Keppel iseek Communications King & Wood Mallesons Mike Madden Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Leveraged Acquisition Financing $3.8 billion Hologic Goldman Sachs Brown Rudnick Davis Polk & Wardwell Global Bond Offering $1.5 billion Province of British Columbia CIBC / HSBC / RBC / Scotia Davis Polk & Wardwell Senior Notes Offering $750 million Aetna Barclays / Citigroup / Credit Suisse / Merrill Lynch Davis Polk & Wardwell - Harry Ballan, William Curran Secured Revolving Credit Facility $652 million NXP Morgan Stanley / Barclays Simpson Thacher & Bartlett Davis Polk & Wardwell - Michael Mollerus, Changsheng Song Construction Financing $300 million Stockbridge Real Estate JP Morgan Davis Polk & Wardwell Cahill Gordon & Reindel

In recent years, the focus of taxpayer services from the Chinese tax authorities has gradually shifted.

Delegates at International Tax Review’s inaugural Tax and Transparency Forum heard how taking the initiative is the most important step to take when it comes to tax transparency and corporate social responsibility (CSR).