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A poll of 204 UK business leaders concluded that while the government has made a reasonable start, it needs to accelerate business taxation reforms to simplify the system and make it more responsive to the needs of all UK businesses.

Today's report from the Treasury Select Committee welcomed the government’s commitment to a simpler tax system, but expressed concern that it has not done enough to set out the principles underlying that policy.

Last year’s emergency budget, which was announced last June, shortly after the new government took power introduced some big changes for UK tax policy. This year’s budget, set for March 23, is likely to be more of a continuation, though there may be some surprises including an announcement of further corporate tax cuts.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $4.3 billion Western Digital Hitachi Global Storage Technologies BoA Merrill Lynch; O'Melveny & Myers Skadden, Arps, Slate, Meagher & Flom Acquisition $640 million TOMY Company, Ltd. RC2 Corporation Skadden, Arps, Slate, Meagher & Flom; Nishimura & Asahi Reinhart Boerner Van Deuren Acquisition $469 million Sahaviriya Steel Industries (SSI) Teeside Cast Products (Tata Steel UK) Shearman & Sterling - Iain Scoon, James Leslie Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) SEC-registered debt offering $4 billion Cisco Systems, Inc Goldman Sachs; JP Morgan; Merrill Lynch; Citigroup; Morgan Stanley; Wells Fargo Fenwick & West Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa SEC-registered notes offering $3 billion ArcelorMittal Citigroup; JP Morgan; Merrill Lynch, Pierce, Fenner & Smith Davis Polk & Wardwell - John Paton, Adam Perry Convertible bond refinancing $1.8 billion Immofinanz Credit Suisse; Deutsche Bank; UniCredit Bank Austria bpv Hügel Rechtsanwalte - Gerald Schachner, Christoph Nauer Linklaters; Weber Maxl & Partner Rechtsanwalte Senior notes offering $600 million CIGNA Corporation BofA Merrill Lynch; Morgan Stanley; Wells Fargo Securities Davis Polk & Wardwell - Lucy Farr, Kerry Price Debevoise & Plimpton Registered notes offering $500 million Praxair Inc Citigroup; Merrill Lynch; Deutsche Bank Securities; HSBC Securities Davis Polk & Wardwell - Po Sit, Michelle Messer Public stock offering $90 million DuPont Fabros Technology Inc Barclays Capital; Raymond James & Associates Hogan Lovells Davis Polk & Wardwell - Michael Mollerus, Andrew Teruo Hayashi

Júlio de Oliveira and Átila de Carvalho Beatrice Condini discuss the judicial standard for liability for stakeholders in Brazilian companies.

Last year was a milestone for transfer pricing in Romania and set a trend of aggressive tax audits and transfer pricing adjustments. Adrian Luca and Andreea Jora of Transfer Pricing Services in Bucharest provide an update on the latest legislative and practical developments.

When the Indian budget announced that transfer pricing officers’ (TPO) power would be extended to the power of survey, allowing them access to taxpayers’ premises to validate functional analysis, it provoked strong reactions from practitioners.

A legal battle between Exportadora Bananera Noboa (EBN), Ecuador’s largest corporate conglomerate, and the Tax Administration (SRI) is coming to an end in Ecuador, setting important precedents for the transfer pricing of commodities. Alexis Carrera, of Ernst & Young in Quito, analyses the case.

A source from the European Commission has spoken exclusively to TPWeek about the common consolidated corporate tax base (CCCTB) proposal, before it was announced today.

With more economic activity comes more pressure on tax directors to be certain that the processes, systems and structures they have in place will help them achieve tax-efficient outcomes.