1. Indian case: Copal

• Delhi High Court

• Indirect share transfer: meaning of "substantially" in section 9(1)(i) Explanation 5

• For information:

Rajesh Gandhi (Mumbai): [email protected]

N.C. Hegde (Mumbai): [email protected]

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

2. Hong Kong case: Director’s fees

• Board of Review

• Source of director’s fees depends on residence (central management and control) of company

• Foreign-incorporated company, with shares listed on Hong Kong stock exchange, held to be resident in Hong Kong

• For information:

Anthony Lau (Hong Kong): [email protected]

3. China

• Circular 146

• Focus on outbound payments of service fees and royalties

• To access Dbriefs Bytes 6 June (6 tests for deduction of outbound service fees), visit www.deloitte.com/ap/dbriefs/bytes

• To access Dbriefs Bytes 11 July (Chengdu royalties case), visit www.deloitte.com/ap/dbriefs/bytes

• For information:

Vicky Wang (Shanghai): [email protected]

Ye Hong (Shanghai): [email protected]

4. In brief

• Singapore / Rwanda treaty signed

• Inversions

i. Burger King / Tim Hortons

ii. What's Chinese for inversions?