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Issue No. 1 - 2018 of the Asia-Pacific Tax Bulletin is now available online.

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Number 1 - 2018 contains the following:
ARTICLES

India

Since Vodafone ... – An Analysis of Developments in the Taxation of Indirect Transfers
Saurav Bhattacharya
In this article, the author analyses the developments in Indian tax and investment law and practice since the Vodafone case. He canvasses successive amendments to Indian domestic tax law to counter the Supreme Court’s Vodafone judgment and ongoing cases arising from them, and examines in detail a range of questions that remain unanswered. The article also considers the impact of indirect share transfers on the fund industry and bilateral investment treaty implications of the post-Vodafone developments.
India
GAAR provisions: The Need for Internationally Accepted Restrictions on Application
Shashwat Sharma and Meyyappan Nagappan
In this article, the authors examine the uncertainties created by, and the possible restrictions in the application of, India’s new general anti-avoidance rule (GAAR). They consider its interaction with income tax treaty benefits and the OECD’s multilateral instrument. The article canvasses the pre-GAAR approach adopted in Indian case law, reviews clarifications issued by the Central Board of Direct Taxation in 2017 and surveys jurisprudence in other common law jurisdictions as a source of guidance for Indian courts, which will need to interpret the new law.
Taiwan
New Controlled Foreign Company Legislation in Taiwan
Yishian Lin
In this article, the author discusses the controlled foreign company legislation recently introduced in Taiwan. The article gives an overview of the main features of the legislation and the Ministry of Finance’s implementation rules. It also addresses double tax relief issues in the context of tiered foreign companies, and the different tax treatment of interests in companies in Mainland China and those in other foreign jurisdictions. The author canvasses the impact on the new rules of the simultaneously introduced place of effective management law, and exchange of information agreements.
CASE NOTES
India
Supreme Court Clarifies Fixed Place Permanent Establishment Requirements
Abhishek Dugar and Lakshita Bhandari
This case note explains the Supreme Court’s decision in Assistant Director of Income Tax-I v. M/s E-Funds IT Solution Inc., which held that, in order to establish a fixed place permanent establishment in India, a fixed place of business, which is at the disposal of a foreign company, and through which the business has been carried on, must exist in India. A close association between a foreign parent company and its subsidiary company in India is irrelevant to the determination of a fixed place PE.
New Zealand
High Court Finds Mariner Has Permanent Place of Abode in New Zealand
Kevin Holmes
This note summarizes the New Zealand High Court decision in Commissioner of Inland Revenue v. Van Uden, which found that a master mariner who was at sea for approximately eight months each year had a permanent place of abode in New Zealand. He was therefore a New Zealand tax resident, who was required to pay tax in New Zealand on his foreign sourced employment income and interests in foreign investment funds, including his employer’s contributions made on his behalf to its employee superannuation fund.
INTERNATIONAL PERSPECTIVE ON ASIA-PACIFIC TAXATION AND INVESTMENT
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