OUR SESSION CHAIRMEN

BEPS AND MULTILATERAL INSTRUMENT (MLI)

DECEMBER 7-9, 2017, ITC MARATHA HOTEL, MUMBAI

INTERNATIONAL TAXATION CONFERENCE 2017

(As at October 5, 2017)

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

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

Jeffrey Owens

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INTERNATIONAL BUREAU OF FISCAL DOCUMENTATION (IBFD) AMSTERDAMIN COOPERATION WITH THE ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT, PARIS

Porus Kaka, Senior Advocate, India; Jan Maarten Slagter, IBFD, The Netherlands; Kees van Raad, Lieden University, The Netherlands; Vijay Mathur, PwC, India; Dinesh Kanabar, Dhruva Advisors LLP, India; Nishith Desai, Nishith Desai Associates, India;

Vipul Jhaveri, Deloittes, India; Belema Obuoforibo, IBFD, The Netherlands; Sachin Menon, KPMG, India; Mukesh Butani, BMR Legal, India; Pranav Sayta, E & Y, India; Rajesh Ramloll, Senior Advocate, Mauritius; David Spencer, International Tax Lawyer, USA;

Gautam Doshi, Reliance ADAG, India; T P Ostwal, T P Ostwal & Associates LLP, India; Parthasarathi Shome, ITRAF, India; Pascal Saint-Amans, OECD, Paris; Clive Baxter, Maersk, Denmark

Our 22nd Annual Conference in 2017 continues from our 2016 conference with “MLI” (Action 15). Our keynote topic is MULTILATERAL INSTRUMENT AND BEPS IN ACTION. This year our conference is organised by us in cooperation with the Organization for Economic Co-operation and Development, Paris. Like last year, it is also a Joint Conference with the IBFD, Amsterdam. IBFD is the sister organization of International Fiscal Association. It was set up as its publications, research and training arm in 1938. Set up as a charity, it is the largest institution of its kind in the world. FIT as a charity runs the leading conference annually on International Taxation in India since 1995. We welcome them to our Conference.

Our first speaker will be Murray Clayson from UK, President of International Fiscal Association - Worldwide. Our keynote (“Klaus Vogel”) speaker is Pascal Saint-Amans, Director of the OECD's Center for Tax Policy, Paris. He also heads the BEPS Project since its inception and reports regularly to the G20 Finance Ministers. The theme of our Plenary session on Day One is Action 15 on Multilateral Instrument (MLI) which is needed to comply with the recommendations of the BEPS Reports without making bilateral treaty changes. The speakers will make presentations, followed by panel discussions, to clarify some of the key issues underlying MLI.

On Day Two morning, we have a half-day session on BEPS and Indian Tax Policy, Practice and Compliance. Our speakers include Akhilesh Ranjan, Principal Chief Commissioner of Income Tax (International) in India, Rajat Bansal, Competent Authority, India, Mrs. Pragya Saksena, Joint Secretary (FT & TR I) and Parthasarathi Shome former Minister of State, Finance. The session includes a major panel discussion to review the Impact of BEPS on Indian Tax Policy, Practice and Compliance with some of the leading Indian professionals as expert panelists. We expect several speakers as well as delegates from the international division of Indian Revenue Service and the Indian Income Tax Appellate Tribunal to participate in the conference as speakers and delegates.

The rest of the conference covers panel discussions by global experts of recommendations under BEPS Action Points with 17 selected issues.

We look forward to your participation at our 22nd Conference. The full programme is given overleaf.

DAY ONE : DECEMBER 7, 2017 (THURSDAY)

Plenary Session: Afternoon

Plenary Session: Late Afternoon (Option A)

Plenary Session: Late Afternoon (Option B)

DAY TWO : DECEMBER 8, 2017 (FRIDAY)Plenary Session: BEPS in India : Impact on Indian Tax Policy and Objectives

Session: Global Impact of BEPS and Its Future (Option A)

0800-2000 Registration0845-0915 Opening Remarks: Conference Director (Roy Rohatgi)0915-0945 Welcome: International Bureau of Fiscal Documentation, Director of

Knowledge Centre, (Belema Obuoforibo) 0945-1000 Break

Chairman Jan Maarten Slagter, Chief Executive Officer, International Bureau of Fiscal Documentation, The Netherlands

1400-1430 Jefferson VanderWolk, Head of Transfer Pricing and Tax Treaties, OECD, ParisUse of Profit Split Methods for Transfer Pricing under BEPS Action 8-10

1430-1500 Monica Bhatia, Head of Global Forum Secretariat, OECD, ParisInternational Financial Centres and Exchange of Information(including Beneficial Ownership) on request or on automatic exchange

1500-1530 David Spencer, International Tax Lawyer and former Senior Advisor of Tax Justice Network, USA BEPS and Allocation of Taxing Rights: Current Global Shift from Residence towards Source Taxation!

1530-1600 Jeffrey Owens, Professor & Director of Global Tax Policy Center, WU Austria (former Director, OECD, Paris and FIT Conference Keynote Speaker 2015)Role of Tax Certainty in Promoting Sustainable and Inclusive Growth and preventing Unacceptable Tax Avoidance

1600-1630 Victor van Kommer, Tax Services Director, International Bureau of Fiscal Documentation, The Netherlands

Tax Policy and Administration : Some Recent Developments under BEPS 1630 -1645 Jan Maarten Slagter, Session Chairman - Concluding Remarks1645 -1700 Break

Chairman Kees van Raad, Chairman, ITC Leiden and Professor at Leiden University, The Netherlands

1700 -1900 What are the key challenges in the drafting and implementation of a single Multilateral Instrument for over 100 countries to comply with BEPS Recommendations? (Examples: What is the status of BEPS Reports in international law and domestic law? How can Courts in different countries be bound to an agreement that gives them economic substance without domestic legal substance? What are the key issues arising from MLI to date)Panel Discussion led by Daniel Erasmus, USA and Africa. Panelists:

Mukesh Butani, India - Robert Danon, Switzerland - Shefali Goradia, India - Gita Kothari, OECD, Paris - Rajesh Ramloll, Mauritius - Pascal Saint-Amans, OECD, Paris

Chairman Vijay Mathur, Senior Tax Advisor, PricewaterhouseCoopers Pvt. Ltd., India1700 -1900 What is the likely Impact of MLI under BEPS on Developing Countries

today and in future? Has BEPS Changed the Allocation of Taxing Rights under OECD Model Treaties in their favour? Does it also give effect to Economic Substance over Form principle?Panel Discussion led by Jairaj Purandare, India. Panelists: K R Girish, India -Luis Nouel, Venezuela - Belema Obuoforibo, IBFD, The Netherlands - Sol Picciotto, UK - Pragya Saksena, India - Parthasarathi Shome, India - David Spencer, USA

1900-2200 Networking Dinner

Chairman Dinesh Kanabar, Founding Partner, Dhruva Advisors LLP, India0900-0915 Session Chairman's Introductory Remarks0915-0945 Akhilesh Ranjan, Principal Chief Commissioner of Income-tax (International),

IndiaMultilateral Instrument - Indian Experience : Challenges and Opportunities

0945-1015 Parthasarathi Shome, Director, ITRAF, IndiaRecent Developments in Indian Tax Laws, Policy and Practices under BEPS and their Implementation Issues

1015-1030 Break1030-1200 BEPS and Indian Tax Policy, Practice and Compliance

Panel Discussion led by Milind Kothari, India. Panelists: Nishith Desai - Vipul Jhaveri - Vijay Mathur - Bobby Parikh - Pranav Sayta - Girish Vanvari - Uday Ved (all from India)

1200-1230 Rajat Basal, Competent Authority, Government of IndiaBEPS Recommendations and Compliance by India - Current Status and Future Plans

1230-1300 Discussions and Questions1300-1400 Lunch

Chairman Nishith Desai, Founder, Nishith Desai Associates, India1400-1600 Transfer Pricing under BEPS Actions 8-10: Recent Developments in

Formulary Approach and Profit Split Methods Panel Discussion introduced by Anis Chakravarty, India, in the presence of G S Pannu, Accountant Member, Income-Tax Appellate Tribunal, India and led by Jefferson VanderWolk, OECD, Paris. Panelists: Vijay Iyer, India - Ashish Kumar, India - Rohan Phatarphekar, India - Zara Ritchie, Australia - Kamlesh Varshney, India

Plenary Session: Multilateral Instrument (MLI) and BEPSChairman Porus Kaka, Senior Advocate, India1000-1030 Murray Clayson, President, International Fiscal Association - Worldwide

Special Address (Video Recording) 1030-1115 “Klaus Vogel” Speaker: Pascal Saint-Amans, Director, Centre for Tax Policy

and Administration, OECD, ParisMLI and BEPS in Action: Challenges and Opportunities (with questions)

1115-1215 Maikel Evers, Counsellor - BEPS Coordinator, OECD, Paris & Gita Kothari, Senior Legal Advisor, OECD, ParisAn Overview : Some Early Legal and Operational Experiences with MLI under Inclusive Framework & Positions taken by Countries so far since June 7, 2017

1215-1245 Mukesh Butani, Managing Partner, BMR Legal, IndiaIndia as a Signatory on Multilateral Instrument - Some Observations

1245-1300 Porus Kaka, Session Chairman - Concluding Remarks1300-1400 Lunch

Rajat Bansal, India -

Mindy Herzfeld, USA -

Session: Tax and Treaty Compliance under BEPS (Option B)

Session : Late Afternoon (Option A)

Session: Late Afternoon (Option B)

DAY THREE: DECEMBER 9, 2017 (SATURDAY)Session: Tax Dispute Resolution (Morning)

Session: Global Impact of BEPS and Its Future (Option B)

Session: Minimum Standards under Action 5 & 6 (Option A)

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

Chairman Vipul Jhaveri, Head of Tax, Deloitte Haskins & Sells LLP, India 1400-1600 Review of UN and OECD approach to BEPS issues and related Allocation of

Taxing Rights followed by an Overview of the Recent Developments in the UN Model on Taxation of Services and Transfer PricingPanel Discussion led by Radhakishan Rawal, India. Panelists: Robert Aziz, UK - Rajat Bansal, India - Vladimir Gidirim, Russia - Ignatius Mvula (UN Tax Committee) - Luis Nouel, Venezuela - Pascal Saint-Amans, OECD, Paris - Pragya Saksena, India

1600-1630 Discussion and Questions1630-1700 Tea Break

Chairman Belema Obuoforibo, Director of Knowledge Centre, IBFD, The Netherlands1700-1900 Action 6: Principal Purpose Test vs Limitation of Benefits to counter Abuse

of Tax Treaties: A ComparisonPanel Discussion led by Uday Ved, India. Panelists: Premkumar Baldewsing, IBFD, The Netherlands - Robert Danon, Switzerland - Gautam Doshi, India - Maikel Evers, OECD, Paris - Mahesh Kumar, Singapore - T P Ostwal, India - Sanjeev Sharma, India

Chairman Sachin Menon, Partner and Head of Indirect tax, KPMG, India1700-1900 Goods and Services Tax in India - What lies ahead

Panel Discussion led by Sachin Menon, India. Panelists: Prashant Bhatnagar - Prashant Deshpande - Bhavna Doshi - Bela Sheth Mao - Uday Pimprikar - Amit Sarkar - Rohan Shah (all from India)

1900-2200 Networking Dinner

Chairman Mukesh Butani, Managing Partner, BMR Legal, India0900-1015 Resolution of Tax Disputes under Domestic and International Laws

involving MAP and/or Multilateral Instruments under BEPS (Actions 14 & 15)Panel Discussion led by Mukesh Butani, India in the presence of R V Easwar, former Judge, High Court of Delhi, ex-Officiating President, ITAT and Panelists: Rajat Bansal, India - Carol Dunahoo, USA - Pramod Kumar, India - Nikhil Mehta, UK - Jeffrey Owens, UK - Ajay Vohra, India

1015-1030 Concluding Remarks by R V Easwar1030-1100 Break

Chairman Rajesh Ramloll, Senior Advocate, Mauritius1100-1300 An Overview of Extraterritorial Operation and Legislation (including

Retrospective Legislation) : How have Multinational Enterprises and Countries addressed them in (a) North America (b) Europe (c) Asia excluding India (d) India (e) Africa (f) Rest of the World? Panel Discussion led by Arvind Datar, India. Panelists : Gokul Chaudhri, India -Daniel Erasmus, USA and Africa - Padamchand Khincha, India - Michael Kobetsky, Australia - Mahesh Kumar, Singapore - Amar Mehta, Canada - Rachel Saw, Malaysia - Victor van Kommer, IBFD, The Netherlands

1300-1400 Lunch

Chairman Gautam Doshi, Group Managing Director, Reliance ADAG, India1515-1630 Action 7: Dependent Agent Permanent Establishment: Is it a Permanent

Establishment? followed by general discussion on Does Permanent Establishment as a Tax Concept have a future in an increasingly source-based tax world today? Panel Discussion led by Bijal Ajinkya, India. Panelists: Rahul Mitra, India - Rahul Navin, India - Rajesh Simhan, India - Kees van Raad, The Netherlands

Session: Current Status and Future of Digital Economy (Option A)

Session: Transfer Pricing Developments (Option B)

Session: General Anti-avoidance Rules: in India (Option B)

Joint Final Session: Taxpayers' Rights and Responsibilities post BEPS

Special Session: Block Chain and Open Ledger Technology and International Taxation

Chairman Pranav Sayta, National Partner, Ernst & Young, India 1100-1200 An update on Digital Economy under BEPS Action 1

Panel Discussion led by Sol Picciotto, UK. Panelists: Joao Nogueira, IBFD, The Netherlands - Rashmin Sanghvi, India - Rohinton Sidhwa, India- Vinay Singh, India

1200-1300 Future Developments and an Overview of Blockchains and Crypto Currencies Panel Discussion led by Jeffrey Owens, UK. Panelists: Clive Baxter, Denmark -

Ashvin Dwarka, Mauritius - Shikha Mehra, India - Meyyappan N, India

Chairman David Spencer, International Tax Lawyer, United States1400-1515 Actions 5 & 6: Harmful Tax Competition and Abuse of Tax Treaties

Discussion topics include tax provisions that prevent harmful tax competition and grant of treaty benefits in inappropriate circumstances. Panel Discussion led by Sanjay Tolia, India. Panelists : Aladesawe Adeyemi, Nigeria - Kuntal Dave, India - H. Gangadharan, India - Mindy Herzfeld, USA - Akshay Kenkre, India - Dennis Schäfer, Singapore

Chairman T P Ostwal, Managing Partner, T P Ostwal Associates LLP, India1400 -1515 Exchange of Tax Information with Transfer Pricing Documentation under

BEPS - Some Issues and Comments under Action 13Session led by Sanjiv Malhotra, India. Panelists: Monica Bhatia, OECD, Paris - Nishana Gosai, South Africa - Noel-Faustin Kouame, Ivory Coast - Sunil M Lala, India - Himanshu Sinha, India

Chairman Parthasarathi Shome, Director, ITRAF, India1515-1630 New General Anti-Avoidance (GAAR) Rules in India as from April 2017

Panel Discussion led by PVSS Prasad, India. Panelists: Pranay Bhatia, India - Vikram Chand, Switzerland - Rita Cunha, UK - Bhavna Doshi, India - Hariom Jindal, India - Ernie Lai King, South Africa

1630-1700 Break

Chairman Pascal Saint-Amans, Director, OECD, Paris1700 -1800 Impact of BEPS on Taxpayers' Rights and Responsibilities

Session led by Rajesh Simhan, India. Panelists: Carol Dunahoo, USA - Vipul Jhaveri, India - Sunil M Lala, India - Nikhil Mehta, UK - Pragya Saksena, India - Victor van Kommer, IBFD, The Netherlands

Chairman Clive Baxter, Tax Director, Maersk Lines, Denmark1800 -1830 How Blockchains and Crypto Currencies (e.g. Bitcoins) are likely to impact

international tax rules of the future? Discussion led by Jeffrey Owens, UK1830 -1900 Concluding Remarks and Questions: Pascal Saint-Amans (OECD) - Jan

Maarten Slagter (IBFD) - Roy Rohatgi (FIT)

International Taxation Conference - 2017IMPLEMENTATION OF BEPS: ROLE OF MULTILATERAL INSTRUMENT AND OTHER BEPS APPROACHES

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