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  • After several months' discussion with HM Revenue and Customs in the UK, Ladbrokes, the gambling company, has received an £80 million ($123 million) rebate.
  • An IMF report, controversially leaked before last weekend's meeting of G20 finance ministers in Washington, proposes two new global taxes on financial institutions. While the primary target will be the banks who received billions of dollars from national governments, other institutions such as insurance companies and hedge funds will also be required to pay the taxes.
  • International Tax Review's weekly round up of the biggest deals and transactions.
  • Type of Agreement Country Country Date Signed Link Double Taxation Agreement Taiwan Hungary April 19 2010 Tax Information Exchange Agreement Australia Vanuatu April 21 2010 Link Double Taxation Agreement New Zealand Turkey April 22 2010 Double Taxation Agreement Bahrain Bermuda April 22 2010
  • The Australian government has announced that it will finally release the Henry review on tax reform this Sunday. It said in February that the release of the review before the government had considered it thoroughly was not in the public's interest.
  • The Taiwanese government has passed the controversial Innovation Act that will reduce the country's corporate tax rate and introduce a number of incentives.
  • Hasnain Shroff and Vinita Chakrabarti report on an interesting case, where it was held that in order to determine the arm’s-length price of an international transaction, the arm’s-length margin should be applied only on the international transaction and not on the entire costs or sales of the taxpayer.
  • Andréa de Oliveira Ramos and Cristiane Magalhães of Machado Associados in Brazil discuss the important idea of changing fixed profit margins that are used to calculate benchmarks in the country.
  • Hernán Katz of Deloitte in Mexico describes how many transfer pricing difficulties faced by taxpayers in Latin America are linked to the lack of development in the regions’ financial markets.
  • China has shown that it is taking a close interest in transfer pricing developments outside its borders by commissioning a translation of an influential international report.