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  • Damian O'Connor has joined Gadens Lawyers as a partner in Brisbane.
  • The World Trade Organisation (WTO) ruled on August 15 that Philippine taxes on imported liquors are illegal.
  • Bob Kirschenbaum and Beth Williams join Bingham McCutchen this month and will practice from the firm’s Silicon Valley office.
  • Advisers in Estonia have said the new transfer pricing guidelines, introduced by the Tax and Customs Board, are not comprehensive enough for taxpayers.
  • The case of Symantec Software Solutions Pvt Ltd, heard before the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), has implications for the application of transfer pricing provisions, which continue to differ from global best practice.
  • Sources have revealed that the UK-Swiss deal to apply withholding tax on British citizens with Swiss bank accounts may be announced as soon as Thursday.
  • Type of Agreement Country Country Date Signed Tax information exchange agreement Australia Liberia August 11 2011 Tax information exchange agreement Canada Costa Rica August 12 2011 Double taxation avoidance agreement Israel Malta August 14 2011
  • As part of a package of austerity measures aimed at cutting the country’s deficit, Italy has announced an increase in the capital gains tax rate, from 12.5% to 20%. Surprisingly, however, the VAT rate has remained unchanged for now.
  • Sources have revealed that the UK-Swiss deal to apply withholding tax on British citizens with Swiss bank accounts may be announced as soon as Thursday.
  • Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $12.5 billion Google Inc Motorola Mobility (Qatalyst Partners) Cleary Gottlieb Steen & Hamilton - Sheldon Alster Wachtell, Lipton, Rosen & Katz; Davis Polk & Wardwell Acquisition $195 million Clayton, Dubilier & Rice Hussman International Inc Debevoise & Plimpton - David Schnabel Acquisition Undisclosed International Lease Finance Corporation (AIG) AeroTurbine (Aercap Holdings) Debevoise & Plimpton - Peter Furci Acquisition Undisclosed GP Investments Ltd Fogo de Chao Churrascaria Davis Polk & Wardwell - Mario Verdolini, Michael Bretholz Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Financing credit facility $1.5 billion 3M Company JP Morgan Securities; Citigroup Global Markets Inc Shearman & Sterling - Laurence Crouch