Search results for

Japan and the Netherlands have renewed their tax treaty, the most significant changes being withholding tax reductions or exemptions for dividends and royalties.

The report from the Joint Committee on Taxation (JCT) on President Obama's 2011 budget, provides revenue estimates for each of the tax provisions, including proposals for subpart F income, the deductibility of interest expenses and the treatment of intangibles.

The federal government has awarded a $417 million tax credit to The Taylorville Energy Centre (TEC) for its bituminous coal project. This is believed to be largest investment tax credit granted for a single project.

Advisers in India now believe that a national goods and services tax (GST), which was originally intended to be rolled out in April this year, is unlikely to meet the new target of April 2011 either.

HM Revenue & Customs (HMRC) has netted £89 million ($138 million) from its last two tax amnesties compared to $450 million for its Offshore Disclosure Facility (ODF) in 2007.

On August 27 President Obama's Economic Recovery Advisory Board (PERAB) released a report discussing options for reform to the corporate tax and international tax systems.

The first panel at this year's International Fiscal Association annual congress agreed that the rules countries use to combat anti-avoidance fit in with their tax treaty obligations. However, there are exceptions.

Type of Agreement Country Country Date Signed Double Taxation Agreement Japan Netherlands August 17 2010 Double Taxation Agreement New Zealand Singapore August 25 2010 Double Taxation Agreement India Switzerland August 26 2010 Double Taxation Agreement China Finland August 30 2010

Mason Hayes +Curran has hired another partner for its tax practice in Dublin. Petrina Smyth, formerly head of tax for Maples & Calder in the same city, will join the firm on November 1. She is a specialist in asset finance, collective investment undertakings and structuring M&A transactions. John Gulliver joined the firm as head of tax in January.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition Undisclosed NPS O'Parinor shopping centre from Hammerson Landwell & Associes Bruno Lunghi Arsene Taxand François Lugand Acquisition Undisclosed Cobalt Capital Solice Group De Pardieu Brocas Maffei Marie-Laure Bruneel Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Convertible Senior Note Offering $1 billion SanDisk Morgan Stanley and Goldman Sachs Simpson Thacher & Bartlett Katharine Moir Revolving Loan Facility $477 million Close Brothers Consortium of banks Slaughter & May Mike Lane