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Issue No. 4 - 2014 of the Derivatives & Financial Instruments is now available online.

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Number 4 - 2015 contains the following:
New Zealand
Update on BEPS and FATCA
Adrian Sawyer
New Zealand is actively involved in reviewing its domestic legislation in light of the various BEPS Actions, and has concluded an intergovernmental agreement under FATCA. This article analyses New Zealand’s approach to BEPS and FATCA, observing that it is a dependable team player, but certainly not a leader in terms of giving effect to these developments. The New Zealand government believes that with regard to BEPS it is already “largely compliant”, and has a clear plan in place to review its position with regard to the BEPS Actions over the coming months. With a concluded intergovernmental agreement in place, the Inland Revenue Department is collecting information from financial institutions in preparation for transferring data to the IRS later in 2015.
Taxation of Hybrids: A Singaporean Perspective
Paul Lau

The author considers the delineation between debt and equity in Singapore in the context of OECD efforts to address hybrid mismatches, specifically Action 2 of the BEPS Action Plan.

Developments in Funds Passporting Schemes in Asia
Irving Aw
China (People’s Rep.)
Stock Connect Programme: The Open Sesame to a Strong Chinese Capital Market
Ching-luen (Moya) Wu
In considering the highly regarded Shanghai-Hong Kong Stock Connect programme, this article offers a brief comparison with other investor regimes and summarizes some key trading and clearance arrangements under the Stock Connect programme, including northbound and southbound trading. Relevant taxes and fees charges under the existing Stock Connect programme, along with potential future developments and reactions of competitors are also discussed.
BEPS, Hybrid Entities and Financing
Anton Joseph
International developments and current trends affecting hybrid securities, especially the role of the OECD in combating double non-taxation, double deduction and long-term tax deferral, will have a significant impact on financing using hybrid instruments in the future.
China (People’s Rep.)
Distinctions between Chinese Rules on Hybrid Instruments and the OECD Approach under the BEPS Initiative
Jieyin Tang


BEPS Effects in Indonesia
Freddy Karyadi and Chaterine Tanuwijaya