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   January-February 2019  
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Asia-Pacific Tax Bulletin
This free e-mail service informs you about the contents of the forthcoming edition of Asia-Pacific Tax Bulletin.

Issue No. 1 - 2019 of the Asia-Pacific Tax Bulletin is now available online.

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Number 1 - 2019 contains the following:
Trust Streaming – Decluttering the Law
Anton Joseph
In this article, the author considers how the recent decision of the High Court of Australia in Commissioner of Taxation v. Thomas found that the quantum of franking credits attached to franked distributions must be determined within the limits set by the taxation laws, rather than by trust law or the terms of a trust deed. The article also examines the 2011 amendments to the Income Tax Assessment Act 1997 and concludes that those amendments, together with the Thomas decision, have finally uncluttered Australia’s law on streaming credits attached to franked dividend distributions.
The Paradise Papers – A Reminder of the Legal and Professional Constraints in Advising on Offshore Tax Matters
H. Khiem (Jonathan) Nguyen
After the revelations in the Paradise Papers at the end of 2017 many people started to ponder the legal and professional requirements that are imposed on tax advisers and the consequences for those advisers in breach of them. This article addresses these issues in the Australian context, and examines the main concerns faced by Australian tax professionals when providing advice and assistance to clients that engage in offshore activities. The author concludes that offshore activities are a high-risk area for advisors and that, when tax advice is given, it should be within the letter and spirit of the law, after taking account of the advisors’ legal and professional obligations and ethical considerations.
The Income Tax Settlement Commission
Dinesh Verma
In this article, the author reviews the history, operational procedures and performance of India’s alternative tax dispute resolution body, the Income Tax Settlement Commission. He canvasses the strengths and weaknesses of the Commission and concludes that it provides an attractive, relatively speedy and cost-efficient effective means for taxpayers to resolve tax disputes with the Income-tax Department, but observes that some taxpayers – particularly corporate taxpayers – are reluctant to use the service, and addresses the reasons why this is so.
The Curious Case of Satyam Computers
Siddhesh Rao
This case note canvasses the recent decision of the Full Federal Court of Australia in Satyam Computer Services Limited v. Commissioner of Taxation, where the court applied the Australia-India income tax treaty to create a tax liability on royalties paid to a non-resident, which was not provided for in Australia’s domestic law. The author argues that tax treaties serve as a limitation on taxing liabilities: they allocate taxing rights rather than generate new tax liabilities. The author criticizes the court’s decision for failing to apply the doctrine that an income treaty acts as a shield and not a sword.
High Court Determines Interest Rate on Foreign Associated Enterprise’s Overdue Debt
Abhishek Dugar and Lakshita Bhandari
This case note reviews the finding by the Bombay High Court in Principal Commissioner of Income-tax-13, Mumbai v. Tecnimont (P.) Ltd. that notional interest imputed for transfer pricing purposes in respect of the delayed recovery by an Indian resident taxpayer of outstanding receivables from a foreign associated enterprise is to be calculated on the basis of the interest rate that prevails in the associated enterprise’s country, and not on the basis of the State Bank of India’s prime lending rate.
Credit Card Payment Infrastructure and Network Constitutes a Permanent Establishment in India
Abhishek Dugar, Lakshita Bhandari and Dhruvi Jain
This case note reviews the ruling issued by the Authority for Advance Rulings to MasterCard Asia Pacific Pte Ltd, which decided that MasterCard Asia Pacific’s use of the network and infrastructure for processing card payment transactions for customers in India constituted a fixed place permanent establishment, a services permanent establishment and a dependent agent permanent establishment of Mastercard Asia Pacific in India, under article 5 of the India-Singapore double tax treaty.
TVS Motors – Payments Are Fees for Technical Services
Abhishek Dugar and Lakshita Bhandari
This case note analyses the High Court decision in The Director of International Taxation Madras v. M/s. TVS Motors Co Ltd. Payment made by an Indian taxpayer to an Austrian company is classified as fees for technical services and accordingly taxable in Austria pursuant to the provisions of the Austria-India tax treaty.
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