Summary: 1. BEPS • Action 8 (transfer pricing aspects of intangibles) - Bermudan cash box • Action 13 (country-by-country reporting) • Action 1 (digital economy) - Source vs. residence - Profit attribution • Action 6 (prevent treaty abuse) - LOB Article vs. purpose rule • Action 2 (hybrid mismatch arrangements) - Public consultation meeting (15 May 2014) • Upcoming OECD events (visit www.deloitte.com/ap/dbriefs/bepscentral) - 19 May 2014: Action 13 public consultation meeting (broadcast live on internet) - 26 May 2014: OECD webcast 2. Cases • India: R&B Falcon Offshore • "Installation" PE under India / U.S. treaty • Is repair time counted in applying the time test? • For information: K.R. Sekar (Bangalore): krsekar@deloitte.com 3. Australia • 2014 Budget - To obtain a copy of our Budget Brief, visit www.deloitte.com/ap/dbriefs/bytes • Draft legislation on thin capitalization and dividend participation exemption rule - Public comments requested by 6 June 2014 • Review of 8 leading technology companies • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 4. India • Vodafone: "indirect share transfer" dispute to be resolved by arbitration 5. In brief • New Zealand / Vietnam treaty enters into force • Malaysia: guidance on limited liability partnerships - For information: Tan Hooi Beng (Kuala Lumpur): hooitan@deloitte.com • Indonesia: new negative list for foreign investment - For information: Nazly Siregar (Jakarta): nsiregar@deloitte.com • China (Circular 26): 15% tax rate in 3 geographic zones - Hengqin in Guangdong, Qianhai in Shenzhen, and Pingtan in Fujian - For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cn Ye Hong (Shanghai): hoye@deloitte.com.cn
