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Ernst & Young has announced that David Holtze is the firm’s new global vice chairman for tax.

TYPE OF DEAL VALUE ACQUIRER TARGET ADVISER TO ACQUIRER (TAX) ADVISER TO TARGET (TAX) Merger $1.4 billion Justice Holdings / Pershing Square Capital Burger King Worldwide Sullivan & Cromwell - Davis Wang / Greenberg Traurig Kirkland & Ellis Patent Deal $1.1 billion Microsoft AOL Covington & Burling Wachtell, Lipton, Rosen & Katz / Finnegan, Henderson, Farabow, Garrett & Dunner Acquisition $1 billion Facebook Instagram Fenwick & West - Adam Halpern, Natalie Pardo de Zela Orrick Acquisition $950 million Cerberus Capital AT&T (Yellow Pages) Schulte Roth - Alan Waldenberg Sullivan & Cromwell - Andrew Mason Acquisition $221.4 million Witwatersrand Consolidated Gold Resources / Pan African Resources Evander Gold Mines (Harmony Gold Mining) Stikeman Elliott / Eversheds TYPE OF DEAL VALUE ISSUER / BORROWER LEAD MANAGERS / ARRANGERS ADVISER TO ISSUER / BORROWER ADVISER TO LEAD MANAGERS Notes Offering $3 billion Apache Citigroup / Goldman Sachs / J.P. Morgan Bracewell & Giuliani Davis Polk & Wardwell - Michael Farber, Juelle Gomes Notes Offering $2.15 billion Hartford Financial Citigroup / Goldman Sachs Davis Polk & Wardwell - Harry Ballan, Yuliya Epifantseva Cleary Gottlieb Steen & Hamilton Senior Notes Offering $1.5 billion Lloyds TSB Citigroup / Merrill Lynch / Morgan Stanley / Wells Fargo Linklaters / Dundas & Wilson / Davis Polk & Wardwell Allen & Overy Refinancing $1.25 billion Cargill ANZ / Tokyo-Mitsubishi UFJ / BNP Paribas / Deutsche Bank / HSBC / RBS / Standard Chartered WongPartnership Linklaters High-yield Notes Offering $1.1 billion OGX Davis Polk & Wardwell - Po Sit, Ankur Dalal White & Case / Machado Meyer Sendacz Opice Initial Public Offering $490 million Rexnord Merrill Lynch / Goldman Sachs / Credit Suisse / Deutsche Bank / Barclays O’Melveny & Myers Davis Polk & Wardwell - Samuel Dimon, Arie Rubenstein Initial Public Offering $100.1 million Merrimack Pharmaceuticals JP Morgan Wilmer Cutler Pickering Hale and Dorr Davis Polk & Wardwell - Neil Barr, Changsheng Song

The Canadian government has proposed changes to section 247 of the Income Tax Act in relation to transactions with foreign related parties, which could have a knock-on effect on companies’ structures involving withholding tax.

Despite the continued shift to indirect taxation globally, a majority of businesses still do not have effective global VAT/GST management practices in place, reports Niall Campbell, KPMG’s global head of indirect tax services.

The Carbon Reduction Commitment (CRC) has been radically altered since it was devised by the previous UK government and businesses and environmentalists agree it may now be too complex.

Last week’s ECOFIN meeting brought yet more bad news for advocates of an EU financial transaction tax (FTT).

India’s Authority for Advance Rulings (AAR) has held that a proposed buy-back of shares held by a Mauritian shareholder in an Indian company is a tax avoidance scheme and should be taxable as a dividend.

Alvarez & Marsal Taxand has hired James Bartek as managing director in the firm’s New York office.

China’s State Administration of Taxation (SAT) is looking to adopt an advance tax ruling (ATR) system in response to increasing pressure on its resources using the traditional audit-based approach.

HSBC’s recent victory at the UK First-tier Tax Tribunal means taxpayers should not be charged stamp duty reserve tax (SDRT) on the transfer of shares outside the EU when the transfer is part of a capital raising process.