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A poll of International Tax Review’s readers found the majority remain unconvinced of the benefits of a Common Consolidated Corporate Tax Base (CCCTB).

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Joint venture $3.2 billion ExxonMobil Corporation Rosneft Skadden, Arps, Slate, Meagher & Flom Freshfields Bruckhaus Deringer Acquisition $325 million Valero Energy Corporation Murphy Oil USA, inc Davis Polk & Wardwell - Kathleen Ferrell Acquisition Undisclosed Berlitz Telelangue Bredin Prat - Julien Gayral, Timur Celik Hoche Avocats Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Senior notes offering $1.25 billion PepsiCo Inc BNP Paribas Securities Corp; Deutsche Bank Securities Inc; Morgan Stanley & Co Davis Polk & Wardwell - Avishai Shachar, Mario Verdolini, Craig Phillips, William Curran Jones Day Revolving credit facility $1 billion Mexichem SAB de CV JPMorgan Chase Bank NA Davis Polk & Wardwell - Po Sit, Yuliya Epifantseva Senior secured credit facility $283 million Vector Capital Corporation Fortress Credit Co Davis Polk & Wardwell - Rachel Kleinberg, Una Au; Baker & McKenzie Schulte Roth & Zabel

The Public Accounts Committee (PAC) has released a report which suggests many companies involved in Private Finance Initiatives (PFIs) are minimising tax on profits generated from those projects using offshore structures.

Indian taxpayers believe the introduction of a general anti-avoidance rule is a necessary and positive step but want more clarity if it has to come in, as scheduled, at the same time as the new Direct Taxes Code (DTC) next April.

Taxpayers in India can no longer put off preparation for the proposed goods and services tax, despite no formal framework being published, says a leading tax director.

Marc Quaghebeur joined De Broeck Van Laere & Partners as a partner on September 1. The Belgian law firm has offices in Brussels and Ghent. He was formerly with Vandendijk & Partners, where he specialised in the law relating to holding companies and investment funds, real estate taxation, the taxation of trusts in Belgium as well as estate planning.

PwC US has hired a new partner in its international tax practice. Chris Gilbert joins the firm and is based in Houston.

The OECD’s report on how some companies create losses through aggressive tax planning is not revolutionary, by their own admission, but taxpayers say governments are missing a trick.

Week five of the Supreme Court hearing saw Chief Justice Kapadia delving into the powers of a holding company to dictate terms to a subsidiary.

A new report shows that 25 of the 100 most highly compensated CEOs in the US earn more money than their employers paid in taxes in 2010.