Summary: 1. India’s Budget • Retrospective operation of section 9(1)(i) - No repeal of retrospectivity - Special committee • Transfer pricing: favorable changes • Real Estate Investment Trusts and Infrastructure Investment Trusts • GST • For information: K. R. Sekar (Bangalore): krsekar@deloitte.com • For our India Budget Highlights: visit www.deloitte.com/ap/dbriefs/bytes 2. China • Royalties case (Chengdu) • GAAR public consultation - For a copy of draft guidance (Chinese language): visit www.deloitte.com/ap/dbriefs/bytes • Bulletin 38 (CFC rules) - For a copy of Bulletin 38 (Chinese language): visit www.deloitte.com/ap/dbriefs/bytes • For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cn Ye Hong (Shanghai): hoyeqinli@qinlilawfirm.com 3. Cases • Three PE cases from India - Nortel (disregard separation of legal entities) - GFA Anlagenbau (“at the disposal” test and supervisory activities) - GE Energy Parts (LinkedIn profiles of employees) 4. Treaties • Signed: Korea / Hong Kong, Vietnam / Turkey, Korea / Kenya, Singapore / Seychelles • Entry into force: Sri Lanka / Bahrain 5. In brief • IRS resignations • Japan: consumption tax on inbound digital supplies - For information: Jun Takahara (Tokyo): jun.takahara@tohmatsu.co.jp
