Dbriefs Bytes

1. EU: State Aid decisions (00:43) 2. BEPS (02:52) 2.1 Loose talk (03:06) 2.2 Substance: decision-making vs. number (and qualifications) of employees (05:48) 2.3 Korea (07:23) 2.4 Netherlands (08:35) • For a copy of the letter, visit www.deloitte.com/ap/dbriefs/bytescentral 2.5 U.S. (09:37) 3. Cases (10:56) 3.1 India: Spentex (11:11) 3.2 India: Procter and Gamble (12:21) 3.3 India: Mangalore (13:53) • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 4. Asia Pacific (15:27) 4.1 India: transfer pricing (15:35) • For a copy of the rules regarding the use of an arm’s length range and multiple year data, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 4.2 In brief (19:14) • Australia • Hong Kong • Mongolia • Singapore • Taiwan • Thailand 5. Europe (19:42) • Belarus • Bulgaria • Cyprus • Denmark • ECJ • EU • France • Germany • Hungary • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands • Russia • Sweden • Ukraine • For a copy of our Tax Alert on the Luxembourg budget, visit www.deloitte.com/ap/dbriefs/bytescentral 6. Africa (20:33) • Algeria • ATAF • Gabon • Senegal • South Africa 7. Middle East & Central Asia (20:55) • Iraq 8. Americas (21:12) • Brazil • Canada • Colombia • Costa Rica • Honduras • Mexico • Panama • U.S. 9. Treaties & Other (21:41) 9.1 Treaty developments (21:49) • Hong Kong / Pakistan • Saudi Arabia / Sweden • Netherlands / Curaçao • Switzerland / Uzbekistan 9.2 OECD (22:15) • AEOI web portal • To access the portal, visit www.deloitte.com/ap/dbriefs/bytescentral

1. BEPS (00:38) 1.1 BEPS reports: adoption (00:55) 1.2 Hierarchy of measures (01:47) 1.3 EU: exchange of information on rulings (05:23) • For a copy of the European Commission’s press release, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Bill Dodwell (London):bdodwell@deloitte.co.uk 1.4 Ireland: first into the box (06:14) • For a copy of our Tax Alert on Ireland’s Budget, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Pieter Burger (Dublin):piburger@deloitte.ie 1.5 Commonwealth (06:51) 2. Cases (07:56) 2.1 ECJ: Linz (08:09) • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Erwin Holzer (Vienna):eholzer@deloitte.at 2.2 Canada: Birchcliff (10:32) • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Albert Baker (Toronto):abaker@deloitte.ca 3. Asia Pacific (12:47) 3.1 India: Vodafone (12:55) • For information: N.C. Hegde (Mumbai):nhegde@deloitte.com 3.2 In brief (15:14) • Australia • China • India • Mongolia • Thailand 4. Europe (15:33) • Belgium • Cyprus • Denmark • EU • ECJ • France • Greece • Netherlands • Norway • Portugal • Romania • Serbia • Slovakia • UK • Ukraine 5. Africa (16:15) • Angola • Ghana • Kenya • Namibia • South Africa • Southern African Countries • Zambia 6. Middle East & Central Asia (16:45) • Israel • Kazakhstan • Kuwait • Uzbekistan 7. Americas (17:05) • Brazil • Colombia • Costa Rica • El Salvador • Mexico • Puerto Rico • Trinidad and Tobago • U.S. 8. Treaties & Other (17:37) 8.1 Treaty developments (17:45) • Andorra / Liechtenstein • UAE / Belize • UAE / Liechtenstein • Albania / Morocco • Saudi Arabia / Tajikistan • Austria / Chile • Cyprus / South Africa 8.2 FATCA Inter-Governmental Agreements (18:15) 8.3 Trans-Pacific Partnership (19:25) • For information: Bob Fletcher:bobfletcher@deloitte.com (Singapore)

• Action 1: Tax aspects of the digital economy (00:53) • Action 2: Hybrid mismatch arrangements (04:11) – Part 1 (04:53) – Hybrid financial instruments (06:16) – Dual inclusion income (09:31) – Payments (11:37) – Withholding tax (12:45) – Part 2 (13:17) • Action 3: Strengthen CFC rules (14:20) • Action 4: Limitation of deductions for interest expenses and other financial payments (16:45) – Topic 2: Fixed ratio rule (18:55) – Topic 3: Group ratio rule (21:26) – Topic 5: Targeted rules (23:42) – Implementation (25:05) • Action 5: Counter harmful tax practices more effectively, taking into account transparency and substance (26:52) – Requiring substantial activity for preferential regimes (27:31) – Improving transparency (33:10) – Ongoing review of preferential regimes (36:04) – Next steps (37:12) • Action 6: Prevent treaty abuse (38:06) – PPT (41:03) – Other "finalised" items (43:07) • Action 7: Prevent the artificial avoidance of PE status (44:16) • Action 8-10: Transfer pricing (50:53) – Amendments to Chapter I, TPG (51:30) – Amendments to Chapter VI, TPG (55:08) – Amendments to Chapters I & VI, TPG: cash box entities (56:42) – Amendments to Chapter VII, TPG (57:48) – Amendments to Chapter VIII, TPG (58:29) – Profit split method: scope of work for preparation of guidance in 2016 (59:08) • Action 11: Establish methodologies to collect and analyse data on BEPS (1:00:34) • Action 12: Require taxpayers to disclose their aggressive tax planning arrangements (1:01:55) • Action 13: Transfer pricing documentation (1:02:39) • Action 14: Make dispute resolution mechanisms more effective (1:03:57) • Action 15: Development of a multilateral instrument (1:06:39) • 2016 issues and implementation (1:07:54) • For a copy of the 13 final BEPS reports, visit www.deloitte.com/ap/dbriefs/bytescentral

1. BEPS (00:50) 1.1 BEPS reports to be published on 5 October 2015 (01:03) • To register for the OECD’s technical briefing, visit www.deloitte.com/ap/dbriefs/bytescentral 1.2 CbC reporting (02:06) • Denmark and Ireland 1.3 Draft amendments to the U.S. model double tax treaty (02:50) 2. Cases (03:55) 2.1 ECJ: Miljoen (04:08) • For information: Aart Nolten (Amsterdam):anolten@deloitte.nl 2.2 U.S.: Starr International (06:25) • For information: Gretchen Sierra (Washington, D.C.):gretchensierra@deloitte.com 2.3 Korea: secondary TP adjustment (09:32) • For information: Young Pil Kim (Seoul):youngpkim@deloitte.com 3. Asia Pacific (11:04) 3.1 China: "value-contribution allocation method" (11:11) • To obtain a copy of our unofficial English translation of the discussion draft and a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Eunice Kuo (Shanghai):eunicekuo@deloitte.com.cn 3.2 India: Minimum Alternate Tax (MAT) (13:50) • To obtain a copy of the government press release, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai):nhegde@deloitte.com 3.3 Indonesia: thin cap rules (15:25) • For a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Melisa Himawan (Jakarta):mehimawan@deloitte.com 3.4 In brief (16:18) • Australia • China • Fiji • India • Japan • New Zealand 4. Europe (16:41) 4.1 Italy: "Internationalisation" decree (16:48) • For a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Luca Bosco (Turin):lubosco@sts.deloitte.it 4.2 In brief (17:29) • Belarus • Cyprus • Denmark • EU • Finland • Germany • Gibraltar • Greece • Ireland • Latvia • Poland • Russia • Slovakia • Spain • Sweden • UK • Ukraine 5. Africa (18:08) 5.1 In brief • Namibia • Sao Tomé and Príncipe • South Africa 6. Middle East & Central Asia (18:26) 6.1 Kuwait: "virtual service PE" (18:34) 6.2 In brief (20:13) • Israel • Uzbekistan 7. Americas (20:27) 7.1 U.S. (20:34) • For a copy of the two U.S. government documents, click here and here • For information: Gretchen Sierra (Washington, D.C.):gretchensierra@deloitte.com 7.2 In brief (21:12) • Brazil • Canada • Colombia • El Salvador • Guatemala • Honduras • Mexico • Peru • Puerto Rico • U.S. • Venezuela 8. Treaties (21:37) 8.1 Treaty developments (21:44) • Portugal / Andorra • Vietnam / Estonia • Canada / Spain 8.2 Indonesia / Hong Kong (22:08) • For information: Anthony Lau (Hong Kong):antlau@deloitte.com.hk and Melisa Himawan (Jakarta):mehimawan@deloitte.com

1. BEPS (00:35) 1.1 Australia: MAAL legislation (00:59) • For a copy of the bill, visit www.deloitte.com/ap/dbriefs/bytescentral, the explanatory memorandum, visit www.deloitte.com/ap/dbriefs/bytescentral, and our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 1.2 Country-by-Country Reporting and Master File / Local File (09:08) • Mexico, Netherlands, U.S., Australia 1.3 BEPS reports (10:10) • For a copy of the 13 placeholders – Action 1: Addressing the Tax Challenges of the Digital Economy, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 2: Neutralising the Effects of Hybrid Mismatch Arrangements, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 3: Designing Effective Controlled Foreign Company Rules, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 4: Limiting Base Erosion Involving Interest Deductions and Other Financial Payments, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 5: Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 6: Preventing the Granting of Treaty Benefits in Inappropriate Circumstances, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 7: Preventing the Artificial Avoidance of Permanent Establishment Status, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 8-10: Aligning Transfer Pricing Outcomes with Value Creation, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 11: Measuring and Monitoring BEPS, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 12: Mandatory Disclosure Rules, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 13: Transfer Pricing Documentation and Country-by-Country Reporting, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 14: Making Dispute Resolution Mechanisms More Effective, visit www.deloitte.com/ap/dbriefs/bytescentral – Action 15: Developing a Multilateral Instrument to Modify Bilateral Tax Treaties, visit www.deloitte.com/ap/dbriefs/bytescentral 1.4 G20 finance ministers meeting (11:05) • For a copy of the communiqué, visit www.deloitte.com/ap/dbriefs/bytescentral 1.5 China and Singapore (11:43) 2. Cases (13:18) 2.1 ECJ: Asparuhovo (13:37) • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Georgi Simeonov (Sofia): gsimeonov@deloittece.com 2.2 U.S.: BNY & AIG (16:19) • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Gretchen Sierra (Washington, D.C.): gretchensierra@deloitte.com 2.3 Japan: Tokyo Star Holdings (18:03) • For information: Jun Takahara (Tokyo): jun.takahara@tohmatsu.co.jp 3. Asia Pacific (19:35) 3.1 China (19:48) • Circular 60 – For a copy of Circular 60 (in Chinese), visit www.deloitte.com/ap/dbriefs/bytescentral – For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cn or Ye Hong (Shanghai): hoye@deloitte.com.cn • Draft “Implementation Regulations for Special Tax Adjustments” – For a copy of the draft (in Chinese), visit www.deloitte.com/ap/dbriefs/bytescentral – For information: Eunice Kuo (Shanghai): eunicekuo@deloitte.com.cn 3.2 In brief (21:52) • Australia • New Zealand • Pakistan • Singapore • Taiwan • Thailand • Vietnam 4. Europe (22:22) 4.1 In brief • Belarus • Belgium • Bulgaria • Croatia • EU • Iceland • Ireland • Italy • Kosovo • Luxembourg • Netherlands • Poland • Romania • Slovenia • Spain • Sweden • UK 5. Africa (23:16) 5.1 In brief • Angola • Cape Verde • Egypt • Nigeria • Mauritania 6. Central Asia (23:43) 6.1 In brief • Kazakhstan • Turkmenistan • Uzbekistan 7. Americas (24:07) 7.1 U.S. (24:20) • For a copy of the four U.S. government documents, visit www.deloitte.com/ap/dbriefs/bytescentral for integrated hedging transactions, visit www.deloitte.com/ap/dbriefs/bytescentral for proposed section 367 regulations, visit www.deloitte.com/ap/dbriefs/bytescentral for temporary transfer pricing regulations, and vi

1. BEPS (00:33) 1.1 Action 5: patent boxes (00:51) 1.2 Bob Stack’s views (07:04) 2. Cases (08:08) 2.1 India: Serco BPO (08:21) • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 2.2 ECJ: Steria (16:32) • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral, for a copy of the ECJ press release, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Nathalie Ayme (Paris): nayme@taj.fr 3. Asia Pacific (18:30) 3.1 India: Shah committee report (18:38) • For a copy of the Shah committee report, visit www.deloitte.com/ap/dbriefs/bytescentral, and our tax alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 3.2 In brief (21:50) • Australia • Bhutan • China • Korea • India • Indonesia • Malaysia • Nepal • New Zealand • Taiwan • Vietnam • For a copy of our Tax Alert on Taiwan’s amendments to M&A law, visit www.deloitte.com/ap/dbriefs/bytescentral • For a copy of the New Zealand Issues paper on residential land withholding tax, visit www.deloitte.com/ap/dbriefs/bytescentral 4. Europe (22:11) 4.1 EU: blacklist / Belgium (22:19) • For a copy of Belgium’s list, visit www.deloitte.com/ap/dbriefs/bytescentral 4.2 Denmark (24:15) 4.3 In brief (25:10) • EU • France • Germany • Greece • Ireland • Luxembourg • Poland • Romania • Russia • Sweden • Ukraine • UK 5. Africa (25:30) 5.1 In brief (25:30) • Angola • Zambia 6. Americas (25:51) 6.1 U.S. (25:59) • For a copy of the guidance on Subpart F (temporary regulations), visit www.deloitte.com/ap/dbriefs/bytescentral, for a copy of the guidance on Subpart F (proposed regulations), visit www.deloitte.com/ap/dbriefs/bytescentral 6.2 In brief (26:38) • Brazil • Canada • Colombia • Costa Rica • Ecuador • Honduras • Peru • Puerto Rico • St. Maarten 7. Treaties (26:59) • Kazakhstan / Serbia

1. China / Taiwan Double Tax Arrangement (DTA) (00:44) • For a copy of the Double Tax Arrangement (in Chinese), visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cn or Ye Hong (Shanghai): hoye@deloitte.com.cn or Cheli Liaw (Taipei): cheliliaw@deloitte.com.tw 2. Cases (07:23) 2.1 South Africa: Krok (apparent retrospective operation of Article 25A in South Africa / Australia treaty) (07:44) • For information: Louise Vosloo (Johannesburg): lvosloo@deloitte.co.za 2.2 UK: APVCO (validity of retrospective legislation under the European Convention on Human Rights) (10:47) • For information: Bill Dodwell (London): bdodwell@deloitte.co.uk 3. Asia Pacific (12:34) 3.1 In brief (12:47) • Australia • New Zealand 4. Europe (13:03) 4.1 EU: blacklist (13:16) 4.2 In brief (16:02) • Belarus • Bosnia and Herzegovina • Bulgaria • Germany • Italy • Netherlands • Norway • Romania • Russia • Slovenia • Switzerland • UK 5. Africa (16:23) 5.1 In brief (16:36) • Egypt • Kenya • West Africa 6. Middle East (16:50) 6.1 UAE: Statement regarding VAT and corporate income tax (17:03) • For a copy of the government statement, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Alex Law (Dubai): alexlaw@deloitte.com 7. Americas (18:55) 7.1 Chile: Form 1921 (19:09) • For information: Joseph Courand (Santiago): jcourand@deloitte.com 7.2 In brief (20:21) • Brazil • Canada • Colombia • Ecuador • El Salvador • Honduras • Panama • Peru • Puerto Rico 8. Treaties (20:42) • Barbados / Italy • Ireland / Ukraine

1. BEPS (00:33) 1.1 Australia (00:57) • For a copy of the Senate committee's interim report, visit www.deloitte.com/ap/dbriefs/bytescentral, and our Tax Alert on this topic, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 1.2 New Zealand (03:32) • For a copy of the discussion paper, visit www.deloitte.com/ap/dbriefs/bytescentral, and our Tax Alert on this topic, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Teresa Farac (Auckland): tfarac@deloitte.com.nz 1.3 U.S. (04:33) • Feedback on draft innovation box proposal • House Ways and Means Staff statement on U.S. international tax reform 2. Cases (05:59) 2.1 U.S.: Albermarle (claim for foreign tax credits) (06:14) 2.2 Canada: Tele-Mobile (GST: international mobile telephone services) (08:46) 2.3 Russia: Oriflame (disregarding separate legal status of subsidiary) (10:12) 3. Asia Pacific (11:07) 3.1 Netherlands / Indonesia treaty: new protocol (11:15) • For information: Nazly Siregar (Jakarta): nsiregar@deloitte.com 3.2 Australia (22:57) • For a copy of the Australian draft practice statement, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 3.3 India (23:51) • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 3.4 In brief (25:17) • China • Indonesia • Japan • Malaysia • Thailand 4. Europe (25:30) 4.1 In brief (25:38) • Belgium • Croatia • Finland • France • Germany • Greece • Italy • Luxembourg • Slovenia • Sweden • UK • Ukraine 5. Africa (26:05) 5.1 In brief (26:13) • Nigeria • South Africa – For a copy of the report regarding new taxes in mining sector, visit www.deloitte.com/ap/dbriefs/bytescentral, and a copy the updated guidance on valuation of assets for capital gains tax purposes, visit www.deloitte.com/ap/dbriefs/bytescentral – For information: Louise Vosloo (Johannesburg): lvosloo@deloitte.com.za 6. Americas (26:25) 6.1 U.S. (26:33) • For a copy of the memorandum on referral fees as foreign base company sales income, visit www.deloitte.com/ap/dbriefs/bytescentral • For a copy of the memorandum on excess loss policies, visit www.deloitte.com/ap/dbriefs/bytescentral • For a copy of the NYSBA Tax Section report, visit www.deloitte.com/ap/dbriefs/bytescentral 6.2 In brief (28:08) • Argentina • Brazil • Chile • Colombia • Costa Rica • Ecuador • Panama • Puerto Rico • Uruguay • Venezuela 7. Central Asia (28:26) 7.1 Kyrgyzstan (28:34) 8. Treaties (29:17) • Hong Kong / Italy

1. BEPS 1.1 Patent box 1.2 Action 13: Transfer pricing documentation, including CbC reporting 1.3 Altera: further thoughts 1.4 Australia 1.5 EU’s tax haven list 2. Cases 2.1 India: Japan Airlines 2.2 India: interest on tax refunds: Credit Agricole Indosuez & BJ Services 2.3 India: Sony 2.4 In brief 3. Europe 3.1 EU 3.2 In brief • Estonia • Germany • Gibraltar • Greece • Ireland • Isle of Man • Italy • Luxembourg • Moldova • Russia • Serbia • UK 4. Asia Pacific 4.1 Korea 4.2 Vietnam 4.3 In brief • Australia • China • India • Indonesia • Japan • Malaysia • Singapore • Thailand 5. Africa • Angola • Burkina Faso • Ghana • Kenya • Tanzania 6. Americas 6.1 U.S. 6.2 In brief • Argentina • Barbados • Brazil • Canada • Chile • Colombia • Ecuador • Falkland Islands • Guyana • Paraguay • Peru • Puerto Rico • Uruguay 7. Middle East 7.1 Saudi Arabia 8. Treaties • Cyprus / Iran • South Africa / Zimbabwe • Colombia / France • Brazil / South Africa • Netherlands / Indonesia • UK / Zambia • Austria / Belarus

1. Altera case: cost sharing regulations in regard to stock-based compensation • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Todd Wolosoff (New York): twolosoff@deloitte.com 2.BEPS • For a copy of the UN handbook for developing countries regarding base erosion, visit www.deloitte.com/ap/dbriefs/bytescentral 3. Asia Pacific 3.1 Australia: APA statistics and Senate committee inquiry • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 3.2 India: MAT on FIIs • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 3.3 In brief • Indonesia • Singapore • Vietnam • Malaysia • Taiwan 4. Europe 4.1 Greece: Plan B 4.2 In brief • Austria • Belgium • Croatia • Estonia • EU • Germany • Italy • Poland • Russia • Turkey • Ukraine 5. Africa 5.1 In brief • Algeria • South Africa 6. Americas 6.1 Brazil • To obtain a copy of our Tax Alert on PM 685, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Marcelo Natale (Sao Paulo): mnatale@deloitte.com 6.2 In brief • Chile • Colombia • Costa Rica • Honduras • Peru • Puerto Rico 7. Treaties and Other 7.1 Treaties • Netherlands / Zambia • Netherlands / Kenya • Japan / UK • Spain / Morocco 7.2 Carbon Tax • France vs. Australia

1. BEPS 1.1 EU’s tax haven list 1.2 Germany & Netherlands • For a copy of the press release, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: – Nobert Endres (Munich): nendres@deloitte.de – Chris de Jong (Rotterdam): cedejong@deloitte.nl 1.3 Unilateral measures • Germany • Spain • Turkey • Australia 2. Developing countries 2.1 OECD initiatives • To obtain a copy of the documents relating to the initiatives, visit www.deloitte.com/ap/dbriefs/bytescentral 2.2 Global tax body? 2.3 Addis Tax Initiative • To learn more about the Addis Tax Initiative, visit www.deloitte.com/ap/dbriefs/bytescentral 3. Cases 3.1 Japan: Delaware limited partnership • For information: Jun Takahara (Tokyo): jun.takahara@tohmatsu.co.jp 3.2 Korea: German limited partnership • For information: Gyung Ho Kim (Seoul): gykim@deloitte.com 3.3 Netherlands: Withholding tax on dividends paid to Luxembourg SICAV • For a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Chris de Jong (Rotterdam): cedejong@deloitte.nl 3.4 India: Soma: TP: quasi-capital • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 3.5 In brief • Summary of 6 other cases 4. Asia Pacific 4.1 Hong Kong: exemption of offshore private equity funds from profits tax • To obtain a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Davy Yun (Hong Kong): dyun@deloitte.com.hk 4.2 Australia • To obtain a copy of the two documents, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 4.3 India • Vodafone and MAT on FIIs • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 4.4 In brief • Singapore 5. Europe 5.1 EU: State Aid • EDF 5.2 In brief • EU • Luxembourg • UK • Greece • Cyprus • Spain • Austria • Ukraine 6. Africa 6.1 African countries issue joint statement on tax enforcement • To obtain a copy of the joint statement, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Louise Vosloo (Johannesburg): lvosloo@deloitte.co.za 7. Americas 7.1 In brief • Argentina • Uruguay • Peru • Brazil • Barbados • Jamaica 8. Treaties and Other 8.1 Treaties • Treaty developments • U.S. model treaty • Luxembourg / Spain treaty 8.2 U.S. tax reform

1. BEPS 1.1 Public consultation meeting: transfer pricing • Hard-to-value intangibles • Cost contribution arrangements (CCAs) • Cash boxes and “special measures” • Risk and recharacterization • “2016 issues” • To access the OECD’s videos of the meeting and to obtain a copy of the OECD’s “status update” slide deck, visit www.deloitte.com/ap/dbriefs/bytescentral 1.2 Public comments: Action 6 and hard-to-value intangibles • For a copy of the public comments received, visit www.deloitte.com/ap/dbriefs/bytescentral 2. Cases 2.1 South Africa: AB LLC and BD Holdings LLC • PE status under South Africa / U.S. treaty • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Louise Vosloo (Johannesburg): lvosloo@deloitte.co.za 2.2 UK: Anson • Foreign tax credit / U.S. LLC • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Bill Dodwell (London): bdodwell@deloitte.co.uk 2.3 Canada: Fairmont Hotels • Equitable rectification for mistake in tax planning implementation • For a copy of the case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Albert Baker (Toronto): abaker@deloitte.ca 3. In brief 3.1 Treaties • Vietnam / U.S. • New Zealand / Samoa • India / Thailand • New Zealand / Canada • Japan / Hong Kong 3.2 Australia • For a copy of the draft legislation, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 3.3 UK Summer Budget • To obtain a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Bill Dodwell (London): bdodwell@deloitte.co.uk 3.4 China • Tax-free corporate reorganizations • Cost sharing agreements • Interest withholding tax • For information: – Vicky Wang (Shanghai): vicwang@deloitte.com.cn – Ye Hong (Shanghai): hoye@deloitte.com.cn

1. BEPS / EU 1.1 EU Action Plan on corporate taxation • For a copy of the Action Plan (and related documents), visit www.deloitte.com/ap/dbriefs/bytescentral 1.2 BEPS public comments on Action 7 • For a copy of the public comments received, visit www.deloitte.com/ap/dbriefs/bytescentral 1.3 BEPS: U.S. vs. Rest of the World 2. Cases 2.1 Hong Kong: Turner Entertainment Networks • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Davy Yun (Hong Kong): dyun@deloitte.com.hk 2.2 Netherlands: Case 1460 • To obtain a copy our Tax Alert on this case, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Willem Blom (Rotterdam): wblom@deloitte.nl 2.3 ECJ / Sweden: X AB • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Lars Franck (Stockholm): lfranck@deloitte.se 2.4 Canada: BP Canada • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Albert Baker (Toronto): abaker@deloitte.ca 2.5 India: Lufthansa Cargo • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 2.6 India: GRUP ISM • For a copy of the decision, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 3. Budgets • Kenya,Rwanda, Tanzania, Uganda – For a copy of our four Tax Alerts on these budgets, visit www.deloitte.com/ap/dbriefs/bytescentral – For information: • Nikhil Hira (Nairobi): nhira@deloitte.co.ke • Fred Omondi (Nairobi): fomondi@deloitte.co.ke 4. In brief 4.1 Treaties 4.2 India • For a copy of the guidance, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: N.C. Hegde (Mumbai): nhegde@deloitte.com 4.3 Puerto Rico • For a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Francisco Castillo (San Juan): fcastillo@deloitte.com 4.4 Iceland • For a copy of our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Vala Valtýsdóttir (Reykjavik): vala.valtysdottir@deloitte.is 4.5 Indonesia: Tax drone

1. BEPS: Country-by-Country Reporting Implementation Package 1.1 Model domestic legislation 1.2 Competent Authority Agreements 1.3 Road-testing the implementation package 1.4 Next steps • For a copy of the implementation package, visit www.deloitte.com/ap/dbriefs/bytescentral 2. BEPS: other developments 2.1 OECD BEPS webcast • To obtain a copy of OECD’s slides or watch a replay of the webcast, visit www.deloitte.com/ap/dbriefs/bytescentral 2.2 OECD International Tax Conference (Washington, D.C.) 2.3 EU: State Aid investigations 2.4 Other European developments 3. In brief 3.1 Treaties 3.2 Australia • For a copy our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 3.3 Switzerland • For a copy our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Jacqueline Hess (Zurich): jahess@deloitte.ch 3.4 South Africa • To obtain a copy of the draft legislation (and related documents) and a copy of the withholding tax ruling, visit www.deloitte.com/ap/dbriefs/bytescentral • For information: Louise Vosloo (Johannesburg): lvosloo@deloitte.co.za

1. 2015, so far 1.1 Non-BEPS • Cases • VAT on inbound digital supplies • China • UK's Diverted Profits Tax and Australia's Multinational Anti-Avoidance Law • India • EU 1.2 BEPS • Significant developments on most of the 15 Actions 2. BEPS: current developments 2.1 BEPS Actions 8-10: Discussion Draft on "hard to value" intangibles • For a copy of the discussion draft, visit www.deloitte.com/ap/dbriefs/bytes 2.2 BEPS Actions 6 and 7: Commentary vs. treaty changes 2.3 BEPS Action 8: CCAs • To access the public comments, visit www.deloitte.com/ap/dbriefs/bytes 2.4 If you can't beat them, join them: patent boxes in the U.S. 3. Australia 3.1 Pharmaceutical industry 3.2 Investment manager rules • For a copy our Tax Alert, visit www.deloitte.com/ap/dbriefs/bytes • For information: David Watkins (Sydney): dwatkins@deloitte.com.au 4. In brief 4.1 Treaties 4.2 India's MAP cases • For information: Anis Chakravarty (Mumbai):anchakravarty@deloitte.com 4.3 China • For a copy of Bulletin 40 (in Chinese), visit www.deloitte.com/ap/dbriefs/bytes • For information: Vicky Wang (Shanghai): vicwang@deloitte.com.cnor Ye Hong (Shanghai):hoye@deloitte.com.cn