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India will miss the April 1 2012 deadline for the introduction of the country’s new goods and service tax (GST), the chairman of the Central Board of Excise and Customs said.

Hong Kong’s Financial Services and Treasury Bureau (FSTB) has confirmed that dividends paid to Hong Kong investors by companies in China will be subject to a 10% withholding tax.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $91.6 million British Land Wardrobe Court Freshfields Bruckhaus Deringer - Sarah Falk. Bronwen Petrie-Murray Reorganisation Undisclosed SNCF RATP Bredin Prat - Pierre-Henri Durand, Timur Celik August & Debouzy Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Initial public offering $2.15 billion Prada S.p.A Banca IMI; CLSA Ltd; Goldman Sachs; UniCredit Bank Davis Polk & Wardwell - John Paton, Alon Gurfinkel; Slaughter & May; Bonelli Erede Pappalardo Clifford Chance; Fangda Partners Syndicated facilities agreement $870 million Groupe Steria Bredin Prat - Pierre-Henri Durand, Timur Celik Herbert Smith Convertible notes offering $402.5 million NuVasive Inc Merrill Lynch, Pierce, Fenner & Smith; Goldman, Sachs & Co Davis Polk & Wardwell - Rachel Kleinberg, Catherine Paskoff Chang

Companies now have better insight into the application of administrative penalties.

The Institute of Public Policy Research (IPPR) has released a paper criticising the government’s carbon price floor measures introduced in the March budget, known as carbon price support (CPS).

Raising taxes on mining was a key plank in newly elected Peruvian President Ollanta Humala’s campaign platform. Now that the leftist politician won the resource-heavy South American nation’s highest office, multinational mining firms are squirming about the coming administration’s course of action on taxes.

Type of Agreement Country Country Date Signed Tax information exchange agreement Isle of Man Slovenia June 27 2011 Double taxation avoidance agreement Isle of Man Slovenia June 27 2011 Tax information exchange agreement Barbados Denmark (Faroe Islands and Greenland) June 30 2011 Tax information exchange agreement Guernsey Mexico July 3 2011 Tax information exchange agreement Sweden Costa Rica July 4 2011

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

The Mumbai tax department, which accounts for 35-40% of the country’s total tax take, plans to collect 17.2% more corporate tax than last year.

Ireland has temporarily lowered its VAT rate for a number of businesses including hotels and restaurants from 13.5% to 9% in a bid to boost its tourist industry.