Summary: 1. BEPS Action 12: Mandatory Disclosure Rules - For a copy of the Action 12 discussion draft, visit www.deloitte.com/bepscentral 2. BEPS Action 3: Strengthening CFC Rules - Interaction with EU law - Definition of CFCs: non-corporate entities - Hybrid mismatch arrangements: U.S. check the box rules - Low-tax threshold - Tax rate to apply to CFC income - "Primary rule" / "secondary rule" framework - For a copy of the Action 3 discussion draft, visit www.deloitte.com/bepscentral 3. BEPS: other developments 3.1 BEPS Action 5: harmful tax practices 3.2 EU and OECD: in love 3.3 BEPS Actions 8-10: transfer pricing 3.4 BEPS Action 14: dispute resolution 3.5 UK - For a copy of the two reports from the Public Accounts Committee, the press release from the UK tax authorities in regard to the E6 project, and the update guidance on the diverted profits tax, visit www.deloitte.com/bepscentral - For information: Bill Dodwell (London): bdodwell@deloitte.co.uk 3.6 Australia - To follow the proceedings of the Senate inquiry, visit www.deloitte.com/bepscentral - For information: David Watkins (Sydney): dwatkins@deloitte.com.au 3.7 China - For a copy of the SAT's Q&A, visit www.deloitte.com/bepscentral - For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cn Ye Hong (Shanghai): hoyeqinli@qinlilawfirm.com 4. India 4.1 APA rollbacks - For a copy of the government announcement, visit www.deloitte.com/ap/dbriefs/bytes - For information: Anis Chakravarty (Mumbai): anchakravarty@deloitte.com 4.2 Section 9(1)(i): dividends - For a copy of the statement issued by the Central Board of Direct Taxes, visit www.deloitte.com/ap/dbriefs/bytes - For information: N.C. Hegde (Mumbai): nhegde@DELOITTE.com 4.3 Cairn 5. In brief 5.1 Treaties - China / Hong Kong protocol signed - China / Indonesia protocol signed - Korea / Nigeria treaty enters into force - India / Czechoslovakia treaty continues to apply to India and Slovakia 5.2 Australia - For a copy of the Treasury's discussion paper on possible tax reforms, or a copy of the Board of Taxation's report on debt and equity tax rules, visit www.deloitte.com/ap/dbriefs/bytes - For information: David Watkins (Sydney): dwatkins@deloitte.com.au 5.3 Malaysia - For a copy of the guidelines on the new incentives, visit www.deloitte.com/ap/dbriefs/bytes - For information: Tan Hooi Beng (Kuala Lumpur): hooitan@deloitte.com
