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The Income Tax Appellate Tribunal (ITAT) has held that tax planning carried out within the provisions of the law cannot be classed as a structured transaction for tax evasion purposes, even if the structure saves the company tax.

Pranab Mukherjee outlined plans for a safe harbour back in 2009

The Kraft Cadbury deal was one of the world’s biggest deals in 2010

In a speech to the European Parliament last week, Algirdas Šemeta, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud, supported the “promising option” of a financial activities tax (FAT). In an exclusive interview, International Tax Review spoke to Commissioner Šemeta about why he favours a FAT at the EU level over a financial transactions tax (FTT), how it might work and the challenges to be overcome.

Karishma Phatarphekar and Fatema Hunaid of Grant Thornton discuss the salient features of the proposed APA regime in India and also outline an overview of the nuances of making the most of an APA regime based on experiences gathered from regimes across the world.

In a keynote speech on business and growth, John Denham, the opposition Secretary of State for Business Innovation and Skills, attacked the UK government for lacking a tax policy to boost the economy.

Himanshu Parekh and Nidhi Maheshwari of KPMG survey some of the recent major developments in the Indian tax system and attempt to understand some of the emerging trends and issues of interest to foreign investors in India.

Vinesh Kriplani, of Ernst & Young examines the controversy surrounding the hotly-debated applicability of indirect taxes on the sale of software in India.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $4.9 billion Cliffs Natural Resources Inc. Consolidated Thompson Iron Mines Ltd. Davis Polk & Wardwell Acquisition $107 milion Flagland Spain, S.L.; Telefonica de Contenidos, Gestevision Telecinco DTS Distribuidora de Television Digital, S.A. Linklaters, Reed Smith. Uria Menendez - Victor Viana, Luis Suarez de Centi Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Outstanding Notes Offering $3 billion Westpac Banking Corporation J.P. Morgan Securities Davis Polk & Wardwell Senior Notes Offering $2 billion Royal Bank of Scotland RBS Securities Inc. Davis Polk & Wardwell - John D. Paton, Kent Heggerud Linklaters

Type of Agreement Country Country Date Signed Tax Information Exchange Agreement Canada Jersey January 12 2011 Tax Information Exchange Agreement Canada Isle of Man January 17 2011