1. OECD Model Treaty and Commentary: 2014 Update

• Omitted: amendments to Commentary on Article 5

• Amendments to Commentary on meaning of “beneficial owner”

- “Dependent” test vs. “related” test

• For a copy of the 2014 Update, visit www.deloitte.com/ap/dbriefs/bytes

2. Cases

• Allcargo Global Logistics (India)

- Re-characterize transaction for transfer pricing purposes

- Tribunal: delayed allotment of shares cannot be re-characterized as a loan

- For information:

K.R. Sekar (Bangalore): [email protected]

3. Australia

• Carbon tax repealed

• Amendment bill: thin capitalization and participation exemption for non-portfolio foreign dividends

• Internal ATO report

• For information:

David Watkins (Sydney): [email protected]

4. BEPS

• Pascal Saint-Amans: testimony to U.S. Senate Committee on Finance

- For a copy of the testimony, visit www.deloitte.com/ap/dbriefs/bytes

• Michelle Levac: interesting comments on “special measures”

5. In brief

• Treaties

- Signed: Taiwan / Austria

- In force: India / Poland protocol

• OECD: new global standard for automatic exchange of information

- For a copy of the global standard, visit www.deloitte.com/ap/dbriefs/bytes

• Vietnam: Circular 78

- For information:

Tom McClelland (Ho Chi Minh): [email protected]

• Indonesia: new President