OUR SESSION CHAIRMEN

DECEMBER 6-8, 2018, ITC MARATHA HOTEL, MUMBAI

INTERNATIONAL TAXATION CONFERENCE 2018

(Provisional : September 11, 2018)

Former Honorary President: Professor Klaus Vogel Conference Director: Professor Roy RohatgiAdvisory Committee: Mukesh Butani (India) Nishith Desai (India) Gautam Doshi (India) Shanker Iyer (Singapore)

Dinesh Kanabar (India) Michael Lang (Austria) Belema Obuoforibo (IBFD) Jeffrey Owens (UK)T P Ostwal (India) Jairaj Purandare (India) Pasquale Pistone (IBFD) Rajesh Ramloll (Mauritius)Pranav Sayta (India) Jan Maarten Slagter (IBFD) Rohan Shah (India) Parthasarathi Shome (India)Kiran Umrootkar (India) Victor van Kommer (IBFD)

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Porus Kaka, Senior Advocate, India; Belema Obuoforibo, IBFD, The Netherlands; William Morris, PwC, USA and BIAC; Rodney Lawrence, KPMG, USA;

Dinesh Kanabar, Dhruva Advisors LLP, India; Parthasarathi Shome, ITRAF, India; Nishith Desai, Nishith Desai Associates, India;

Vipul Jhaveri, Deloitte, Haskins & Sells LLP, India; Robert Stack, Deloitte, USA; Gautam Doshi, ADAG, India; Vijay Mathur, PwC, India;

Rajesh Ramloll, Senior Advocate, Mauritius; Clive Baxter, A P Moller -Maersk A/S, Denmark; Shefali Goradia, Deloitte Touche Tohmatsu India LLP, India; Pranav Sayta, E & Y, India; David Bradbury, OECD, Paris; Sachin Menon, KPMG, India; Luis Nouel, IBFD, The Netherlands;

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Our 23rd Annual conference in 2018 continues from our previous conferences on BEPS IN ACTION. MLI was approved after the ratification of its fifth Instrument in March 2018 and became operational on July 1, 2018. It allows tax treaty changes needed under BEPS recommendations to be made multilaterally by Member States. Our conference again this year is a joint conference with IBFD in Amsterdam. We are grateful for their support. As in previous two years, it is also organized by us in cooperation with OECD, Paris. Pascal Saint-Amans from OECD Paris is again our keynote speaker. He and his team of experts will make presentations and speak about the recent progress and the future of the BEPS project with MLI in Action at our conference.Day One concludes with two high level panel discussions on (i) latest OECD recommendations on international taxation of digitized business and (ii) the recent tax reforms in the United States and their global impact. The panelists include several globally renowned speakers such as William Morris (PWC), Rodney Lawrence (KPMG) and Robert Stack (Deloittes) from the States, Robert Danon and Mike Williams from Europe, Mike Lennard from the United Nations and Khoon Ming Ho and Akhilesh Ranjan from Asia. On Day Two, our session on BEPS in India includes a presentation by Arbind Modi (a CBDT Committee member) on the newly updated Direct Tax Code in India to be introduced later this year and by a talk on Recent Tax Developments under BEPS in India by Akhilesh Ranjan (Principal Chief Commissioner of Income Tax (International) in India. Professor Parthasarathi Shome will chair a discussion on BEPS and Indian Tax Policy in the Future by leading Indian tax professionals. The rest of Day Two includes several speakers and panel discussions on topics such as: (i) Recent Developments in the UN Model (with Michael Lennard as speaker), (ii) Protection of Taxpayers' Rights under BEPS, (iii) Can BEPS lead to Tax Terrorism & What is Tax Terrorism? (iv) Global Tax Trends in Mergers and Acquisitions and (v) Review of varying tax definitions of Permanent Establishment in recent judicial decisions in India. We have also invited Professor Robert Danon from Switzerland to speak on Tax Certainty under MLI with a policy of Abuse Prevention in future in a session chaired by Bob Stack. The day ends with a special dinner hosted by IBFD to commemorate their 80th anniversary this year.On Day Three, we start with our traditional discussion on resolution of tax disputes in a post BEPS World. This is followed by a presentation by Professor Jeffrey Owens on likely implications of the use of new technologies on future tax policy and administration. It is followed by a panel discussion on how they will transform the (i) tax systems, (ii) tax administration and (iii) tax policies. Post lunch, there is a special session to welcome the OECD Director and Speakers with a presentation (hopefully by them) on “OECD's Challenges and their Contributions to International Taxation.” There is also a brief session on the new Goods and Services Tax in India. The conference ends with presentations and panel discussions on the future use of technology to manage professional tax practices and services as well as the use of Blockchain technology to assist tax management and compliance. The three-day event packed programme also includes daily social get-togethers for networking. This summary highlights some of the key topics covered in the conference. The full programme is given overleaf.

BEPS AND BEYOND BEPS: RECENT GLOBAL DEVELOPMENTS POST RATIFICATION OF THE MULTILATERAL INSTRUMENT (MLI)

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DAY ONE : DECEMBER 6, 2018 (THURSDAY)

Plenary Session: Multilateral Instrument (MLI) and BEPS

Plenary Session: Afternoon

Plenary Session: Late Afternoon (Option A)

Plenary Session: Late Afternoon (Option B)

DAY TWO: DECEMBER 7, 2018 (FRIDAY)

Plenary Session: BEPS in India: Impact on Indian Tax Policy and Objectives

Session: United Nations Model (Option A)

Session: Taxpayers' Rights and Responsibilities (Option B)

0800-2000 Registration

0845-0915 Opening Remarks: Roy Rohatgi,* Conference Director, Foundation for International Taxation, India

0915-0945 Welcome: Belema Obuoforibo,* Director of Knowledge Centre, International Bureau of Fiscal Documentation, The Netherlands

0945-1000 Special Address: Murray Clayson,* President, International Fiscal Association - Worldwide (Video Recording)

1000-1030 Break

Chairman Porus Kaka,* former President, International Fiscal Association - Worldwide: 2012-17

1030-1130 “Klaus Vogel” Speaker: Pascal Saint-Amans,* Director, Centre for Tax Policy and Administration, OECD, Paris (Keynote Speech and Questions)

MLI and BEPS in Action: Challenges and Opportunities and Legal Issues

1130-1200 Sophie Chatel,* Head of Tax Treaty Unit, OECD, Paris

Impact of BEPS on OECD Model Treaty & Next Steps (suggested)

1200-1230 Ola Ostaszewska,* Manger, IBFD European Knowledge Group

Rohatgi's Basic International Taxation (Third Edition) - Book Launch (Vol. 1)

1230-1300 Porus Kaka,* Session Chairman - Concluding Remarks 1300-1400 Lunch

Chairman Belema Obuoforibo,* Director of Knowledge Centre, International Bureau of Fiscal Documentation, The Netherlands

1400-1430 Achim Pross, Head of International Cooperation and Tax Administration, OECD, Paris

Topic: to be decided

1430-1500 Monica Bhatia,* Head of Global Forum Secretariat, OECD, Paris

Exchange of Information (including Beneficial Ownership) under Action Thirteen : Some Issues and Comments

1500-1530 David Bradbury, Head of Tax Policy and Statistics Division, OECD, Paris

Key Taxation Issues in Global Digital Economy - Possible Solutions(suggested)

1530-1600 Ian Young,* Ex-Chair, UK Charter Committee, HMRC, UK

A Review of Taxpayers' Charters and Taxpayers' Protection: Comments

1600-1630 Parthasarathi Shome,* Chairman, International Tax Research and Analysis Foundation, India and Visiting Fellow, London School of Economics

International Taxation: Resilience or Decline of Multilateral Instrument1630-1700 Break

Chairman William Morris,* Deputy Global Tax Policy Leader with PricewaterhouseCoopers, USA & Chairman, BIAC

1700-2000 Taxation of Digitised Business: The International Dimension

Panel Discussion on latest OECD proposals led by Sol Picciotto,* UK. Panelists: David Bradbury, OECD - Vikram Chand,* Switzerland - Robert Danon,* Switzerland - Nishith Desai,* India - Sriram Govind,* Vienna WU - Michael Lennard,* UN - Akhilesh Ranjan,* India - Mike Williams,* UK

Chairman Rodney Lawrence,* Global Leader, International Tax Services, KPMG, United States

1700-2000 Recent Tax Reforms in the United States (2017): their Current Status and their Impact on other major Global Tax Systems

Panel Discussion led by Marc Levey,* USA: Panelists: Premkumar Baldewsing,* IBFD - Hitesh D. Gajaria,* India - Mindy Herzfeld,* USA - Khoon Ming Ho,* China - Arbind Modi,* India - Achim Pross, OECD - Pragya Saksena,* India - Robert Stack,* USA - Lawrence Zlatkin,* USA

2000-2200 Networking Dinner

Chairman Dinesh Kanabar,* Founding Partner, Dhruva Advisors LLP, India

0900-0915 Session Chairman's Introductory Remarks

0915-1015 Arbind Modi,* Member of Central Board of Direct Taxes, India

The 2018 Direct Tax Code in India - Introduction and Review(followed by questions and comments from the floor)

1015-1030 Break

1030-1100 Parthasarathi Shome,* Chairman, International Tax Research and Analysis Foundation, India and Visiting Fellow, London School of Economics

International Taxation: The Economic and Legal Interface

1100-1130 Akhilesh Ranjan,* Principal Chief Commissioner of Income Tax (International), India

Recent Developments in International Taxation in India under BEPS

Chairman Parthasarathi Shome,* Chairman, ITRAF, India

1130 - 1300 BEPS and Indian Tax Policy, Practice and Compliance in Future

Panel Discussion led by Dinesh Kanabar*. Panelists: Mukesh Butani* - Gautam Doshi* - Hitesh D. Gajaria* - Vipul Jhaveri - Milind Kothari* - Bobby Parikh* -Pranav Sayta* - Girish Vanvari* (all from India)

1300-1400 Lunch

Chairman Nishith Desai,* Founder, Nishith Desai Associates, India

1400-1630 Michael Lennard,* Chief of International Tax Cooperation and Trade in the Financing for Development Office (FIDO) of the United Nations

Recent Changes in the UN Model and its Future Role in a BEPS World

Presentation followed by Panel Discussion led by Uday Ved,* India. Panelists: Rajat Bansal,* India - Porus Kaka,* India - Luis Nouel,* IBFD - T. P. Ostwal,* India - Radhakishan Rawal,* India - Dhruv Sanghavi,* The Netherlands - Pascal Saint-Amans,* OECD, followed by Chairman's Remarks

Chairman Vipul Jhaveri, Head of Tax, Deloitte, Haskins & Sells LLP, India

1400-1630 Craig West,* IBFD & University of Cape Town, South Africa

Brief Review of Taxpayers' Rights and Responsibilities in the Era of Automatic Exchange of Information. Can BEPS lead to Tax Terrorism and should it be avoided? What is Tax Terrorism ?

Panel Discussion led by Daniel Erasmus,* USA & South Africa. Panelists: Monica Bhatia,* OECD - Gokul Chaudhri,* India - Arvind Datar,* India - Mindy Herzfeld,* USA- Rahul Navin,* India - Edson Uribe,* Mexico - Ian Young,* UK, followed by Chairman's Remarks

1630-1700 Break

Session: BEPS Treaties and Tax Certainty under MLI (Option A)

Session: Mergers and Acquisitions (Option A)

Session: Judicial Tax Perceptions of the Permanent Establishment (Option B)

DAY THREE: DECEMBER 8, 2018 (SATURDAY)

Session: Tax Dispute Resolution (Morning)

Session: Impact of New Technologies on International Taxation (Option A)

Session: Artificial Avoidance of Permanent Establishment Status under Action 7 (Option B)

Session: Transfer Pricing Developments (Option B)

WELCOME TO OECD DIRECTOR AND SPEAKERS

Session: Tax Technology (Option A)

Session: Goods and Services Tax (Option B)

Session: Digital World: Some new Issues for Taxation

Chairman Robert Stack,* Managing Director, Deloitte Tax & International Tax Group, USA

1700-1815 Post BEPS Treaties and Tax Certainty under Multilateral Instrument: Can

Tax Certainty be achieved with a Policy of Abuse Prevention in post BEPS World?

Robert Danon,* Professor, Lausanne University, Switzerland & Chair, Permanent Scientific Committee, International Fiscal Association. Presentation followed by Panel Discussion led by Rita Cunha,* UK. Panelists: Monica Bhatia,* OECD - Sophie Chatel,* OECD - Belema Obuoforibo,* IBFD with final comments by Chairman

Chairman Gautam Doshi,* Managing Director, Anil Dhirubhai Ambani Group, India

1815-1930 Girish Vanvari,* Founder, Transaction Square LLP, India

Global Tax Trends in Mergers and Acquisitions

Panel Discussion led by Pranay Bhatia,* India. Panelists: Shefali Goradia,* India - Vivek Gupta,* India

Chairman Vijay Mathur,* Senior Tax Advisor, PricewaterhouseCoopers, India

1700-1900 Varying Tax Perceptions for determining Permanent Establishment and the Approach of the Judiciary towards them. Presentation by Radhakishan Rawal* followed by Panel Discussion led by Jairaj Purandare,* India. Panelists: Premkumar Baldewsing,* IBFD - Kuntal Dave,* India - Akshay Kenkre,* India - Simachal Mohanty,* India - Kamlesh Varshney,* India

1900-1930 Discussion and Questions

1930-2200 Networking Dinner hosted by International Bureau of Fiscal Documentation (IBFD) to celebrate their 80th Anniversary since their Foundation in 1938.

Chairman Rajesh Ramloll,* Senior Advocate, Mauritius

0900-1030 Resolution of Tax Disputes in the post BEPS World - What are the New Legal Measures and Approaches in Domestic and International Laws recommended under BEPS Action 14? A Critical Review

Panel Discussion led by Mukesh Butani,* India. Panelists: Rajat Bansal,* India -Pramod Kumar,* India - Sunil Moti Lala,* - Michael Lennard,* UN - Jeffrey Owens,* UK. Followed by Chairman’s Remarks

1030-1100 Break

Chairman Clive Baxter,* Maersk Group, Head of Tax Governance and Policy, Denmark

1100-1300 Likely Implications of the New Technologies on future Tax Policy and

Administration (Examples: Artificial Intelligence, Robotics, Analytics, Virtual Reality, Block Chain, etc.) Presentation by Professor Jeffrey Owens,* Vienna WU Austria.

Impact on (i) Tax Systems, (ii) Tax Administrations, and (iii) Tax Policies of the Future. Panel Discussion led by Craig West*, South Africa. Panelists: Loretta Joseph,* Australia - Shikha Mehra,* India - Belema Obuoforibo,* IBFD - Neil Pennington,* UK - Jon West,* USA, in the presence of Jeffrey Owens

Chairman Shefali Goradia,* Partner, Deloitte Touche Tohmatsu India LLP, India

1100-1200 (i) Dependent Agent Permanent Establishment under BEPS: Is it a Permanent Establishment Under Action 7 ?

(ii)Does Permanent Establishment as a Tax Concept have a long-term future in model treaties ?

Panel Discussion led by Rajesh Simhan,* India. Panelists: Bijal Ajinkya, India -Amar Mehta,* Canada - Rahul Mitra,* India - Achim Pross, OECD

Chairman Pranav Sayta,* National Partner, Ernst & Young, India

1200-1300 Compare BEPS Actions 8 to 10 on Transfer Pricing with “Arm's Length Method” under Article 9 and with OECD's Revised Guidance on “Transactional Profit Split Method”. Will it lead to “formulary apportionment” under the Mutual Agreement Procedure?

Panel Discussion led by T. P. Ostwal*. Panelists: Daksha Baxi* - PVSS Prasad*- Sanjeev Sharma* - Hasnain Shroff * - Himanshu Sinha (all from India)

1300-1400 Lunch1400-1500

Chairman Professor Roy Rohatgi, * Conference Director

The OECD's Challenges and Contributions to International Taxation

OECD Speakers : Pascal Saint-Amans* - Monica Bhatia* - David Bradbury -Sophie Chatel* - Achim Pross. Brief Presentations by speakers followed by Questions with Vote of Thanks by Rajesh Ramloll,* Mauritius

Chairman David Bradbury, Head of Tax Policy and Statistics Division, OECD, Paris

1515-1630 Milind Kothari,* Managing Partner, BDO India LLP, India

Use of Modern Technology to manage Professional Tax Practices and Tax Compliance, and to provide Advisory Services to Clients: their future Impact on the Profession & Tax Administration. Panelists: Vikram Chand,* Switzerland - Rahul Kashikar,* India - Luis Nouel,* IBFD

Chairman Sachin Menon,* Partner and Head of Indirect Taxes, KPMG, India

1515-1630 Goods and Services Tax in India - A Current Update

Panel Discussion led by Sachin Menon*. Panelists: Prashant Bhatnagar* - Bhavna Doshi* - Dharmesh Panchal* - Uday Pimprikar* - Rohan Shah (all from India)

1630-1700 Break

Chairman Luis Nouel,* IBFD Principal Associate, IBFD Knowledge Centre, The Netherlands

1700-1730 Blockchain Technology: Its Use and Abuse

Rita Cunha,* UK - Shikha Mehra,* India - Neil Pennington,* UK

1730-1800 How can Blockchain assist Tax Management and Administration of Digitized Currencies?

Loretta Joseph,* Leader Global Blockchain Directorate and Chair Of Australian Digital Currency and Commerce Association, Australia

1800-1845 Permanent Establishment through Digital Presence : Will it work?

Presentation by Himanshu Parekh,* India followed by Panel Discussion. Panelists: Wasoudeo Balloo, Mauritius - N Meyyappan,* India - Vinay Singh,* India

1845-1900 Concluding Remarks and Questions: Pascal Saint-Amans* (OECD) - Belema Obuoforibo* (IBFD) - Roy Rohatgi* (FIT)

International Taxation Conference - 2018BEPS AND BEYOND BEPS : RECENT GLOBAL DEVELOPMENTS POST RATIFICATION OF MULTILATERAL INSTRUMENT (MLI)

Confirmed to date*