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Vodafone is one of four companies Christian Aid is trying to convince to support country-by-country reporting with its FTSE4 campaign.

Discrepancies between the OECD guidelines and Russia’s new transfer pricing legislation, which the president signed into law last month, could cause problems for international groups.

By Carlos Mario Lafaurie Escorce of PwC Colombia

Yesterday David Penney, General Director – Taxes for General Motors of Canada, started a one-year term as the new president of Tax Executives Institute (TEI), the world’s biggest organisation of in-house tax professionals.

Weeks after Turkey agreed its first unilateral advanced pricing agreement (APA) on July 15 and more than three years after taxpayers were eligible to apply for them, interest in APAs remains thin on the ground.

The Ways and Means Committee, the tax-writing body in the US House of Representatives, debated whether to institute a nationwide consumption tax during a panel on July 26.

The distorted and varied interpretations of the concept “beneficial owner” have led to a risk of double taxation and non-taxation, prompting the OECD to seek clarity on the term’s meaning. But feedback suggests that their proposals for change could actually cloud the definition further.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition Undisclosed US Chart Industries Group GOFA Group Noerr - Lutz Enno Werner, Stefan Renger Joint venture Undisclosed Atinum Partners Sandridge Energy Inc Skadden, Arps, Slate, Meagher & Flom Vinson & Elkins Acquisition Undisclosed NRG Energy Inc First Solar Inc (Agua Caliente project) Skadden, Arps, Slate, Meagher & Flom - Sean Shimamoto Acquisition Undisclosed GP Investments Ltd Fogo de Chao Churrascaria Davis Polk & Wardwell - Mario Verdolini, Michael Bretholz Acquisition Undisclosed Clayton, Dubilier & Rice Hussmann International Inc Debevoise & Plimpton - David Schnabel Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Senior notes offering $450 million Academy Finance Corporation Credit Suisse Securities; Goldman, Sachs & Co Simpson Thacher & Bartlett; Wachtell, Lipton, Rosen & Katz Davis Polk & Wardwell - Neil Barr, Jason Chlipala, Andrew Teruo Hayashi Initial public offering $315 million Wesco Aircraft Holdings Inc Barclays Capital; Morgan Stanley; Merrill Lynch, Pierce, Fenner & Smith; JP Morgan; William Blair Latham & Watkins Davis Polk & Wardwell - Rachel Kleinberg SEC-registered offering $181 million ServiceSource International Inc Morgan Stanley & Co; Deutsche Bank Securities Inc Wilson Sonsini Goodrich & Rosati Davis Polk & Wardwell - Rachel Kleinberg, Una Au Convertible note hedge, warrant and capped call transactions Undisclosed Chart Industries JP Morgan Securities; Morgan Stanley & Co Davis Polk & Wardwell - Michael Farber, Yuliya Epifantseva; Calfee, Halter & Griswold Latham & Watkins SEC-registered offering Undisclosed Endocyte Inc RBC Capital Markets; Leerink Swann; Cowen & Company; Wedbush Securities Inc Baker & Daniels Davis Polk & Wardwell

Mary Bennett, the head of OECD’s tax treaty and transfer pricing division, said communication is a barrier to the Centre for Tax Policy and Administration improving its reputation, but steps are being taken to change this.

Type of Agreement Country Country Date Signed Tax information exchange agreement Argentina Jersey August 1 2011 Tax information exchange agreement Isle of Man Japan August 3 2011 Tax information exchange agreement Isle of Man China August 3 2011 Tax information exchange agreement Bahamas Republic of Korea August 4 2011