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  • US-based property consultants Lasalle partners is to merge with UK property advisers Jones Lang Wooton to create a new company, Jones Lang Lasalle. The merger aims to create the world’s first property investment bank.
  • Future Rentals, a company formed by Japanese stockbroking firm Nomura Securities, is to acquire UK rental company Thorn in a deal valued at £935 million ($1.5 billion).
  • London law firm Linklaters advised Royal & Sun Alliance Insurance Group over a £1.6 billion ($2.6 billion) multi-currency revolving syndicated loan facility.
  • Mason Gaffney, Professor of Economics, University of California argues that the OECD’s definition of harmful tax competition must be challenged. Instead, he suggests that tax competition is both a natural and beneficial process
  • As International Tax Review reveals the results of the third annual survey of Latin American tax advice, Oliver Ralph talks to consultants and their clients about the globalization of tax policy that is forcing a sea change in the way that advice is given.
  • Spain to aid recession-hit companies, UK will be a lower-taxed port in a storm, Malaysian budget promises tax changes, Evasion spreads in Russia as harsher laws are ignored, Brazil’s austerity plan increases tax burden, Cayman Islands will not cooperate on tax crime, Pakistan’s economy rests on tax collectors’ shoulders France’s tax breaks will fight the millennium bug, Tax cuts may lift Peru’s gloom
  • Mexico has fared better than some of its Latin-American neighbours in the economic crisis. But the outlook is not good and high tax rates are viewed as a potential safety net
  • The Shanghai Finance Bureau and the Shanghai Local Tax Bureau have created a tax refund programme for residential property buyers in Shanghai.
  • The inclusion of food in Australia's planned goods and services tax (GST) is ensuring the proposals get a rough ride through the Senate. Dissent may result in the final legislation being more complex than first envisaged.
  • Deutsche Bank is to acquire Bankers Trust in a transaction valued at approximately $9.7 billion. The move will create the world’s largest financial services company in terms of assets.