[aaykarbhavan] Fw: Asia Pacific Tax: Transfer Pricing Audits in India & Article 3(2) and the Search for Meaning

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From: Deloitte -- Dbriefs AP <DbriefsAP@deloitte.com>
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Subject: Asia Pacific Tax: Transfer Pricing Audits in India & Article 3(2) and the Search for Meaning

Dbriefs Korean Language Webcasts series is now launched. For more details and to register for the upcoming webcasts, click here. Dbriefs Bytes in Chinese is a weekly video summarizing the significant international tax developments impacting Asia Pacific. It is broadcast every Tuesday morning. For more details click here. India Spotlight Thursday, 13 June, 2:00 – 3:00 PM HKT (GMT +8) > Register Transfer Pricing Audits in India: Significant Issues in 2012 With the conclusion of transfer pricing audits covering fiscal years 2008 and 2009 on 31 January 2013, the Indian government raised new issues regarding international transactions with associated enterprises. How are these issues likely to impact multinationals in many industries? We'll discuss: The key issues that have emerged in the recently concluded TP audits and the way forward that can be expected for these issues. Best practices for both audit and litigation defense strategies. An update on India's nascent advance pricing agreement regime and implications for addressing the new issues. Learn about the latest changes in India's transfer pricing regime and how you may need to address them going forward. International Tax Tuesday, 18 June, 2:00 – 3:00 PM HKT (GMT +8) > Register Article 3(2) and the Search for Meaning: How to Interpret Undefined Terms in Double Tax Treaties (Part 1) Double tax treaties use many undefined terms. For example, "fixed place of business" (used in Article 5) and "beneficial owner" (used in Articles 10, 11 and 12) are very important, but generally undefined, terms in treaties. What approach should you follow to determine the meaning of undefined terms in treaties? We'll discuss: The application of Article 3(2) (which permits the use of a domestic law meaning): ambulatory vs. static interpretation, the "context" limitation, and unilateral changes to meaning. Articles 31 and 32 of the Vienna Convention on the Law of Treaties: the use of ordinary and special meanings, and the use of extrinsic materials. The relevance of the OECD and UN Commentaries, and how you should treat changes in the Commentaries. Use of domestic law interpretation rules (e.g., substance over form) to determine the meaning of undefined treaty terms. "Conflicts in qualification" – i.e., inconsistent interpretations between the two contracting countries. Understand the approach to follow in order to identify the meaning of undefined terms in double tax treaties. (Date / time of Part 2 of this webcast will be announced soon.) China Spotlight Tuesday, 20 June, 2:00 – 3:00 PM HKT (GMT +8) > Register Location Specific Advantages: Will China Tighten its Transfer Pricing Regulations? In the recently released UN Transfer Pricing Manual, China has given its view on location specific advantages (LSA). Although the discussions on LSAs have been around for a while in China, the topic seems more serious now. We'll discuss: What is included in the LSAs including location savings and market premiums. Why LSAs are likely to be a disputed topic internationally while China State Administration of Tax (SAT) believes that China may be entitled to additional profit sharing from the global value chain. China SAT's view on LSAs including its use of LSAs to conclude bilateral advance pricing arrangements and mutual agreement procedures. Possible ways, such as the item-by-item calculation or residual profit approach, to estimate value brought by LSAs. Explore the implications of the new UN guidance around LSAs and how companies operating in China may need to address them. Transfer Pricing Tuesday, 25 June, 2:00 – 3:00 PM HKT (GMT +8) > Register Management Services Cost Allocation in a Transfer Pricing Analysis Increasingly, transfer pricing tax authorities around the world are challenging multinational businesses that provide management services to subsidiaries through a central location and then allocate pro-rated shares of those costs based on a measure of the underlying benefits. How can tax executives be prepared to address these challenges through proper transfer pricing analysis and documentation? We'll discuss: The taxonomy of management services from a transfer pricing perspective. Reasons behind local tax administrations' disallowing management charges and approaches to enforcement. Effective practices multinationals can follow to document the performance, measurement, and allocation of management services. Explore this complex area of transfer pricing to learn how tax authorities are interpreting transfer pricing laws and ways that you can defend your organization's practices. 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