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The German government has released a concept paper containing 12 proposed changes to the corporate tax system, including changes to the treatment of interest expense deductions, group taxation, partnerships and losses.

Efforts to replace aid to poor countries with tax as a more stable source of revenue have almost entirely focussed on the corporate sector. But a UK International Development Committee meeting in Parliament saw an interesting debate emerge on the role of VAT.

After a damning report criticising the way the UK tax authority handles its disputes with large taxpayers, a new role has been created that aims to make HMRC’s processes more open and accountable.

Jurisdictions that have been in conflict with Switzerland over tax evasion will be pleased to hear that the Federal Council in Bern is intent on creating a “credible, tax-compliant and competitive financial centre”.

The Confederation of British Industry (CBI) has thrown its weight behind the UK’s planned general anti-avoidance rule (GAAR), arguing that corporate tax avoidance schemes are harming the reputation of British industry.

Despite India today ratifying the Convention on Mutual Administrative Assistance in Tax Matters, the country is still not ready to become a fully-fledged member of the OECD and must change its attitude to international cooperation.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $1.25 billion URS Flint Energy Osler, Hoskin & Harcourt Bennett Jones Acquisition $1.09 billion SBA Communications Mobilitie Greenberg Traurig Goodwin Procter Acquisition $139 million AWE Genting Oil Natuna / Sanyen Oil and Gas WongPartnership / Mallesons Stephen Jacques Acquisition Undisclosed Wells Fargo BNP Paribas Sullivan & Cromwell Skadden, Arps, Slate, Meagher & Flom Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Buyout Fund $8.74 billion BC Partners Weil, Gotshal & Manges / Clifford Chance Notes Offering $3 billion Freeport-McMoRan Copper & Gold Merrill Lynch / J.P. Morgan Davis Polk & Wardwell - Rachel Kleinberg, Arie Rubenstein Cravath, Swaine & Moore Secured Term Loan Facility $475 million NXP Morgan Stanley / Merrill Lynch Simpson Thacher & Bartlett Davis Polk & Wardwell - Michael Mollerus Multicuurency Medium-term Note Programme $397 million Cambridge Industrial Trust ANZ Bank WongPartnership - Colin Ong, Trevor Chuan Allen & Gledhill High-yield Bond $300 million MMI International Credit Suisse / J.P. Morgan / UBS WongPartnership Amendment and Restatement of Credit Facilities $280 million Windstream J.P. Morgan Skadden, Arps, Slate, Meagher & Flom Davis Polk & Wardwell - Lucy Farr, Brian Radigan Follow-on Common Stock Offering $103.5 million GSV Capital Citigroup Davis Polk & Wardwell - Mary Conway, Kay Ng

Mark Brailsford has joined Dewey & LeBoeuf’s London office as a counsel. He specialises in work for bank and finance clients and joins the firm from Allen & Overy, where he was a partner for 15 years and was previously head of the tax department.

Australian prime minister Julia Gillard today saw off a direct challenge to her Labor party leadership from predecessor Kevin Rudd, but must quickly reunite the party if she wants to move forward with her indirect tax policies on carbon and mining.

Type of Agreement Country Country Date Signed Double Tax Avoidance Agreement Protocol Singapore UK February 15 2012 Double Tax Avoidance Agreement Protocol Cyprus Russia Protocol ratifified February 21 2012