IBA Annual Conference Sydney 2017
8 Oct - 13 Oct 2017
Room C4.4, Convention Centre, Level 4
Multilateral instrument: speed dating tax style - how are you impacted?
Thursday 12 October (0930 - 1230)
On 7 June 2017, 68 countries signed the multilateral treaty to implement, among others, the treaty abuse rules (principal purpose test or limitation on benefit provision) and binding arbitration provisions in the framework of the \organisation for Economic Co-operation and Development Base Erosion Profit Sharing Action Plan. The agreement required certain minimum standards be implemented but provided different approaches. Countries could opt out of parts of the agreement with reservations. Hence, most, but not necessarily all, signatories may also have included provisions for transparent entities, restrictions on dividend transfers, expanded ability to tax share sales of real estate companies or new permanent establishment rules. The multilateral treaty allows participating countries to effectively amend their treaties without years of negotiation. The US, Brazil and Saudi Arabia didn't sign the agreement. This landmark agreement will have a significant impact on existing structures and the future of international tax planning. This panel will review the impact of the agreement on holding companies, financing structures, IP structures commissionaire arrangements and supply chain structures. The likely interpretation of the principal purpose test will be considered. The impact of the US not signing will be discussed.
|Tim Becker||Choate Hall & Stewart LLP, Boston, Massachusetts, USA|
|Vivian Chang||Ashurst, Sydney, New South Wales, Australia|
|Pia Dorfmueller||Dentons Europe LLP, Frankfurt, Germany|
|Riccardo Michelutti||Facchini Rossi Michelutti, Milan, Italy|
|John Peterson||OECD, Paris, France|
|Jan van den Tooren||Hamelink & Van den Tooren, The Hague, the Netherlands|