November/December 2016  
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Derivatives & Financial Instruments
This free e-mail service informs you about the contents of the forthcoming edition of Derivatives & Financial Instruments.

Issue No. 6 - 2016 of the Derivatives & Financial Instruments is now available online.

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Number 6 - 2016 contains the following:
Swiss Pension Fund Entitled To Reclaim Swiss Withholding Tax on Dividends Received Indirectly via Irish Investment Fund
Peter Reinarz
The Federal Supreme Court has ruled that a Swiss regulated and tax-exempt pension fund is entitled to reclaim Swiss federal withholding tax deducted from dividends on publicly traded shares of Swiss companies received indirectly via an Irish contractual investment fund.
The Unsettled Issue of Intercompany Guarantees
Sunny Bilaney
Based on an analysis of existing Indian transfer pricing provisions, judicial precedents in India, the OECD Transfer Pricing Guidelines (OECD Guidelines) and the Actions 8-10 Final Report, the author considers types of intercompany guarantees and whether they are a chargeable service, the approach of tax authorities to determining the arm’s length rate of guarantee fees or commissions, and an ideal benchmarking approach for guarantee fees or commissions.
Bifurcation or Integration: The Choice of Method To Tax Compound Financial Instruments
Jieyin Tang
The author considers the two competing approaches to the taxation of compound financial instruments, namely bifurcation and integration. Special attention is paid to the US history of addressing this issue.
Hong Kong
Has Hong Kong Succumbed to Pressure from the OECD?
Kenneth Yim
The author considers the development and current state of affairs regarding Hong Kong’s participation in the cross-border exchange of information.
Regulatory Capital, Hybrids and the OECD Recommendations under Action 2
Anton Joseph
The author reviews the recommendations contained in the OECD BEPS Action 2 Final Report as they impact the raising of capital by financial institutions, including insurance companies attempting to meet the capital adequacy requirements imposed on them. The response of the Australian Board of Taxation and of the federal government to the Report are also considered.
Real Estate Investment Trusts and Repatriation of Offshore Assets into Indonesian Financial Instruments under Tax Amnesty Scheme
Freddy Karyadi and Anastasia Irawati