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President Obama and the House Ways and Means Committee chairman, David Camp, offered competing international tax system reforms at the end of 2011.

Speaking to International Tax Review, Pascal Saint-Amans, the incoming head of tax policy and administration at the OECD, highlighted the goal of replacing aid with tax collection. But what will it mean for taxpayers?

Type of Agreement Country Country Date Signed Double Taxation Avoidance Agreement Hong Kong Netherlands Entered into force January 1 2012 Tax Information Exchange Agreement Argentina Guernsey Entered into force January 4 2012 Double Taxation Avoidance Agreement Albania Germany January 9 2012

Salans has strengthened its Polish practice with the appointment of new partner Cezary Przygodzki.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition (50% stake) $1.68 billion Abraaj Capital Ltd Acibadem Saglik Yatirimlari Holding AS WongPartnership - Ng Wai King & Andrew Ang Acquisition $930 million Raymond James Financial Morgan Keegan & Company (Regions Financial) Morrison & Foerster Sullivan & Cromwell Acquisition $225 million Fossil Skagen Designs Haynes and Boone Fenwick & West - David Forst & Larissa Neumann Acquisition $133 million Flamegold St Patrick's Garden WongPartnership - Tan Kay Kheng & Monica Yip De Souza Lim & Goh - David De Souza Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Notes Offering $2.25 billion Export-Import Bank of Korea BNP Paribas, Citigroup, Deutsche Bank, Merrill Lynch, RBS, Davis Polk & Wardwell Senior Notes Offering $1.55 billion AmeriGas Credit Suisse, J.P. Morgan, Citigroup, Wells Fargo Shearman & Sterling / Morgan, Lewis and Bockius Davis Polk & Wardwell - Lucy Farr & Isaac MacDonald Rights issue $270 million GMG Global DBS Bank Ltd WongPartnership - Tok Boon Sheng

The Parliament of FYR Macedonia picked up the speed of its law passing in September, ratifying a number of amended tax laws. Accordingly the VAT Law has been amended and its changes published in the Official Gazette on October 3 2011, entering into force on October 11.

The Australian assistant treasurer has today announced a development in the amendment of the financial supply provisions of the goods and services tax (GST) law.

The Chinese government wants to introduce a carbon tax from 2015, however even if it is enacted, which remains doubtful, it is unlikely to help the country meet its climate commitments.

The Advocate General’s opinion in the Littlewoods case, heard by the ECJ in November, means that taxpayers are unlikely to be able to claim back substantial amounts interest on overpaid VAT.

Layla Aksakal has become a member of Miller & Chevalier in Washington, DC.