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Paulo Núncio Miguel Pimentel Under pressure from international credit markets and borrowers the Portuguese government announced the headlines of additional cut-backs to be implemented to ensure the reduction of Portugal's GDP deficit. On top of spending reductions other fiscal measures are expected to use proposed to increase tax revenues, although a detailed version of such measures has not yet been publicly disclosed.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $2.1 billion Thermo Fisher Scientific Dionex Wachtell, Lipton, Rosen & Katz - Joshua Holmes Cooley - Susan Philpot Acquisition Undisclosed Tailwind Capital Apex Davis Polk & Wardwell - Kathleen Ferrell and Gregory Hannibal Acquisition Undisclosed Tishman Speyer Cap de Seine complex De Pardieu Brocas Maffei - Alexandre Blestel Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Reserved share capital increase $1.2 billion Areva Agence des Participations de l'Etat ($400 million) and Kuwait Investment Authority ($800 million) Gide Loyrette Nouel Bredin Prat for French State - Patrick Dziewolski & Barthélémy Courteault. Gibson, Dunn & Crutcher for KIA Public Offering $1 billion IBM Barclays; UBS Davis Polk - Michael Mollerus

Alan Connell Lynn Cramer A comprehensive double tax treaty between Ireland and Hong Kong was signed on June 22 2010.

Elena Kostovska FYR Macedonia and Morocco signed a treaty on avoidance of double taxation and prevention of fiscal evasion on May 11 2010. The treaty will enter into force once ratified by both parties and will be effective from the January 1 of the calendar year following the year of entry into force.

Accounting, tax and business recovery and advisory group Vantis names Paul Belsman as national head of tax.

Specialist insurance company Beazley made a pre-tax profit of £100.7 million ($156 million) in 2009, up from £87.2 million in 2008, on which the company will pay just 12% income tax after it re-domiciled its holding company to Ireland.

The decision that the Court of Federal Claims reached in the case of Wells Fargo & Company and Subsidiaries v. United States on January 8 is still reverberating in the US tax community.

German firm Nörr Stiefenhofer Lutz has made Dita Šulcòva an associated partner.

The IRS has issued a plan to regulate federal income tax preparers based on the results of a comprehensive review of the industry, titled the Return Preparer Review. The new rules will not be in effect for the 2010 filing season.

A case involving technology company Samsung has progressed to the Supreme Court of India.