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On August 9, 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.

Geoff Lloyd, head of dispute resolution at HM Revenue & Customs (HMRC) in the UK, is joining Ernst & Young on September 1.

Sean Foley Landon McGrew The Internal Revenue Service (IRS) and the US Treasury Department recently released final regulations addressing certain triangular reorganisations, focusing on the so-called Killer B transactions. (TD 9526). The final regulations generally adopt the rules set forth in the temporary and proposed regulations that were released in 2008. (TD 9400). While the final regulations are technically effective for transactions occurring on or after May 17 2011, the temporary regulations had been effective dating back to September 22 2006.

José Manuel Cardona The economic and financial crisis is prompting insolvency processes at some Spanish companies. These processes require detailed analysis. The natural reaction of companies is to try and solve their financial and cash problems using out of court solutions, similar to those provided in the laws of other countries, such as refinancing processes. If these processes fail, the only remaining option is a concurso insolvency proceeding, consisting of a long and costly court process that usually has steep corporate income tax consequences.

Edward Tanenbaum Tola Ozim On July 14 2011, the Internal Revenue Service (IRS) issued Notice 2011-53 detailing a new delayed phase-in of certain of the provisions of the Foreign Account Tax Compliance Act (FATCA).

The results of a new OECD report, which says that companies are engaging in aggressive tax planning measures to unfairly claim losses and avoid paying taxes, will not come as a surprise to countries that have been watching their tax revenues steadily decline.

Salman Shaheen speaks to David Gauke, Exchequer Secretary to the Treasury and the man behind UK tax policy, about reform, competitiveness and tax justice.

With Switzerland and Germany reaching agreement on a deal to prevent tax evasion through Swiss bank accounts from influencing Germans’ investment decisions, and a Swiss deal with the UK announced on August 24, Matthew Gilleard looks at where this leaves international efforts to clamp down on tax evasion.

Finance Act 2011 introduced significant changes to Ireland’s securitisation regime, including the welcome inclusion of commodities in the list of qualifying assets for investment. The Act also introduced changes affecting the rules on the deductibility of profit participating interest and swap payments in certain cross border structures. Andrew Quinn and William Fogarty of Maples and Calder explain the benefits.

Baker & McKenzie in Beijing has promoted Jinghua Liu to partner.