Topic: Understanding Indian International Taxation – Some Observations

Presenters: T.P. Ostwal (President, IFA-India) and Professor Roy Rohatgi

Mr. Ostwal and Professor Rohatgi will present an in depth discussion about interesting and often unique aspects of India's taxation of international business, including the technical underpinnings of Indian tax law, the ambiance of its tax administration, and the way in which Indian tax authorities think and operate. Their objective is to provide greater insights into the context of the, often frustrating, tax policies and procedures in India. This lecture is condensed from a four course lecture series Messrs. Ostwal and Rohatgi developed for Michael Lang's highly regarded Vienna Tax Institute.

T.P. Ostwal is the senior partner of the firm of T.P. Ostwal & Associates in India. He is the Chairman of International Fiscal Association - India Branch, and also a member of the Executive Committee of the parent IFA organization in The Netherlands. He is a member of the Expert Committee formed by the Central Board of Direct Taxes in India for framing the transfer pricing regulations, as well as a member of the Emerging Issues Task Force on Non-resident Indians. T.P. is also a member of the expert group on transfer pricing of the OECD in Paris and of the TAG (E-Commerce) and BIAC set up by the OECD, Paris. In 2007, he was ranked as the 11th most influential tax professional in the world by "Tax Business" magazine.

Professor Roy Rohatgi is an international business consultant, who advises on international taxation and strategic management. In the eighties, he spent several years in Mumbai (Bombay) where he established and ran the Indian firm of Arthur Andersen as managing partner. Roy is a visiting professor in international taxation in several universities, and is the author of the book "Basic international Taxation" (now in its Second Edition). Roy is founder and chair of the Foundation for International Taxation (FIT), a registered charitable trust in India established to promote knowledge and understanding of international taxation; FIT annually, since 2001, sponsors the well-known International Tax Conference in Mumbai.

This lecture will be followed by a reception for YIN members from 6:00-7:00

7:00-9:00 Networking Dinner
All participants and their guests are invited to this welcome buffet dinner to be held at the Fairmont Washington Hotel.

THURSDAY MAY 28 2009
8:00 - 8:45 a.m. Registration opens
8:45 - 9:00 a.m.Welcome and Introductions
9:00 - 9:45 a.m. Panel 1: PE issues in India and the USA: a Comparative Review
India practitioner:	+ Mukesh Butani, BMR Advisors (moderator) Mukesh Butani is a Partner with BMR Advisors, a leading professional services Firm. BMR is ranked Tier 1 Firm in International Tax Review’s 2009 guide to leading Tax Firms in the world. Mukesh leads the Firm’s Tax practice and specializes in international tax and transfer pricing matters. Mukesh has over 24 years’ experience in advising several fortune 500 multinationals on a range of cross border tax structuring, transfer pricing, mergers & acquisitions and inbound investment structuring matters in various industry sectors. He was the national tax director at a Big 4 Accounting Firm until August 2004. Prior to Ernst & Young, he led Andersen’s international tax and transfer pricing teams. Mukesh is on the Board of Taxand, a global network of leading tax advisors. He regularly interacts with India’s Inland Revenue, CBDT, on emerging trends in tax regulations and tax policy/administration matters. He is actively involved with several USA & Japan MAP proceedings and is a member of OECD’s Business restructuring advisory gsaroup and ICC, taxation commission. He plays an active role in the Indian affairs of International Fiscal Association (IFA). He is a regular speaker at significant national and international tax conferences and contributes to leading international tax journals including International Tax Review (ITR), Asia-Pacific guide of IBFD among others. LexisNexis Butterworths recently published ‘Transfer Pricing- An Indian Perspective’, authored by him. ITR and Legal Media Group have consistently acknowledged Mukesh as among leading tax advisors and transfer pricing specialists in India. Mukesh has a Bachelor’s degree in Commerce (majoring in Advanced Accounting) from University of Bombay and is a qualified Chartered Accountant. -------------------------------------------
India practitioner:	Nishith Desai , Nishith Desai Associates
USA practitioner:	+ Willard Taylor, Sullivan & Cromwell • Of counsel, Sullivan & Cromwell LLP, New York City, since 2007. Partner from 1972 to 2008 in, at different times, the New York, London and Paris offices of Sullivan & Cromwell LLP. • Specializes in United States tax matters, both Federal and State, including advice with respect to the taxation of foreign operations of U.S. corporations, U.S. operations of foreign corporations, mergers and acquisitions and international transactions. Has represented foreign and domestic corporations before the Internal Revenue Service and in tax litigation and has worked with the Treasury Department and with Congressional staffs on tax legislation. • Professor, Adjunct Faculty of New York University Law School; former Chairman of the Tax Section of the New York State Bar Association; member of the U.S. Council of the International Fiscal Association; Tax Advisory Group of the Federal Income Tax Project of the American Law Institute; American College of Tax Counsel. Frequent speaker at PLI, IBA, IFA and IBA-ABA conferences. • L.L.B. from Yale Law School (Yale Law Journal), 1965; B.A. from Yale College, 1962. -------------------------------------------
This panel is an overview of the existing rules and recent developments governing permanent establishments in India and in the USA, and sets the stage for the more specific discussions in panels 2 and 3. Go to top
9:45 - 11:00 a.m. Panel 2: USA Inbound
USA practitioner:	+ Hans Flick, KPMG (moderator) Hans Flick serves as the national partner in charge – inbound investments and coordinates KPMG’s tax services to foreign owned companies in the U.S. Additionally, Hans serves as the Tax Sector Leader of KPMG’s Automotive Practice in the U.S. and serves on KPMG’s Global Automotive Steering Committee. He is based in Detroit. Hans advises multinational companies in connection with international tax issues. His experience mostly relates to mergers & acquisitions, internal corporate restructurings, structured financing and transfer pricing issues. He regularly coordinates and leads international projects related to the design and implementation of complex tax solutions. Hans joined KPMG in 1983 in New York where he became Partner in 1989. From 2000 until 2003, Hans Flick was in charge of the U.S. Corporate Tax Group in Frankfurt/Germany. From 2003 until 2007, Hans was partner in charge of the MidAmerica business unit. -------------------------------------------
India practitioner to ask questions:	Sushil Lakhani , Lakhani & Associates (co-moderator)
USA practitioners will present and respond to interventions:	Sam Kaywood , Alston & Bird Jeff Levenstam , Ernst & Young LLP Phil West, Steptoe & Johnson
This panel will cover new developments, unusual situations and particular opportunities associated with foreign investment into the USA. It will dwell on 4 or 5 topics selected from the following areas: service PE's, attribution, intangibles, agency, joint ventures, transfer pricing, ways to structure investment into USA (including use of intermediary companies), and some industry specific matters. The panel will build on the comparative PE discussion in panel 1. Compared with USA investment into India, Indian investment into the US is just beginning, so this panel will likely focus more on the investment itself as opposed to actually operating in the USA, although significant operating issues will also be addressed. Go to top
11:00 - 11:20 a.m. Refreshment Break
11:20 a.m. - 12:35 p.m. Panel 3: India Inbound
India practitioner:	T.P. Ostwal , T.P. Ostwal Associates (moderator)
USA practitioner to ask questions:	+ Simon Beaumont, IBM (co-moderator) Simon Beaumont was named IBM Vice President of Tax in 2006. He is responsible for IBM’s global tax strategy and tax affairs in over 100 countries where IBM operates. Mr. Beaumont is a member of the Chairman’s leadership team (I&VT). Prior to joining IBM in 2001, Mr. Beaumont was an international tax Partner with PricewaterhouseCoopers in New York, Australia and New Zealand specializing in international tax planning. Mr. Beaumont is a qualified Chartered Accountant (ACA) in New Zealand and studied at the Auckland University of Technology. He is also a CPA in New York and Massachusetts. -------------------------------------------
India practitioners will present and respond to interventions:	+ Shefali Goradia, BMR Advisors Shefali Goradia is a partner with the Firm’s Corporate Tax practice. She joined the Firm in September 2008. Prior to joining BMR, she worked for over 14 years at Nishith Desai Associates, where she led its International Tax practice. She has significant experience in international tax matters, and has advised a number of domestic and multinational corporations in areas ranging from designing efficient global holding and operating structures, structuring inbound and outbound investments and advising on cross border mergers, acquisitions and other corporate reorganizations. She has worked extensively with leading Indian as well as international investment and private equity fund houses on developing and implementing domestic and international fund structures including associated documentation. She has assisted multinational companies doing business in and with India in obtaining private rulings on their taxability in India. Within the financial services industry, she has also advised banks in reviewing and designing structured finance products. She has advised international contracting majors on structuring EPC contracts, and Indian as well as multinational companies on the taxability of software and e-commerce transactions. She has a Bachelor’s degree in Commerce from the Mumbai University and qualified as a Chartered Accountant in 1991. She has been recognized as among the eight best Indian tax advisors by Legal 500 and the Tax Directors Handbook 2009. She has been named in the “Who’s Who Legal” 2007 in the areas of Corporate Tax as well as Private Funds. She has been recognized as among the top 10 tax advisors in India in World Tax 2004, 2005 and 2006 and also recognized as a leading advisor in Capital markets and Financial products in 2006. -------------------------------------------
	+ Pranav Sayta, Ernst & Young Pranav Sayta is a Partner in Ernst & Young, India (‘E&Y’) and is based in Mumbai. He leads the Transaction Tax practice in E&Y. He also leads Tax practice for the TCE (Technology, Communication & Entertainment) sector in Mumbai. Pranav is a Gold-Medalist Chartered Accountant (‘CA’) attaining first rank at All-India level. He was also awarded the prize for the Best paper on Direct Tax Laws by The Institute of Chartered Accountants of India. Pranav has more than 20 years of experience in the practice of Direct Tax Laws. He has a wide range of experience in advising various large multinationals and leading Indian corporates, including various Fortune 500 companies on various international tax, corporate tax and regulatory matters. He specializes in advising on complex inbound and outbound transactions, cross border and domestic mergers, acquisitions & joint ventures, group financial and corporate restructuring, and international tax planning. Pranav was rated as one of the leading tax advisors in India by the Legal Media Group Guide to the World’s Leading Tax Advisers. He is a regular contributor of articles and features on various tax and regulatory issues in leading publications and professional journals. He co-authored the Transfer Pricing Manual published by ‘Bombay Chartered Accountants’ Society. Pranav has also addressed and presented papers at various seminars and conferences organized by various professional bodies including International Fiscal Association (‘IFA’), The Confederation of Indian Industry (‘CII’), Indo-American Chamber of Commerce (‘IACC’), The Indian Merchants’ Chamber (‘IMC’), The Institute of Chartered Accountants of India, Bombay Chartered Accountants’ Society and The Chamber of Income Tax Consultants. Pranav is presently a member of the executive committee of the IFA India branch and a member of the managing committee of the western region chapter of IFA India -------------------------------------------
	Rupak Saha , General Electric Company
This panel will cover new developments, unusual situations and particular opportunities associated with foreign investment into India. It will dwell on 4 or 5 topics selected from the following areas: services PE's, attribution, intangibles, agency, joint ventures, transfer pricing, tax holidays, repatriation, funding and indirect taxes. The panel will build on the comparative PE discussion in panel 1. Since US companies have been operating in India for quite a while now, this panel will likely focus more on tax issues arising in connection with operations in India of US companies, as opposed to matters associated with the investment itself. The panel will, of course, address the Vodafone case, and on ways to structure investments into India. Go to top
12:35 - 2:00 p.m. Networking Lunch Sponsored by PricewaterhouseCoopers
2:00 - 2:45 p.m. Keynote 1: US Tax Policy Directions Under the Obama Administration
Speakers: + Pamela Olson, Skadden, Arps, Slate, Meagher & Flom LLP Pamela F. Olson, a partner at Skadden, Arps from 1990 to 2001, rejoined the firm in 2004 as a partner in the Tax Group. Ms. Olson formerly was an assistant secretary for tax policy at the U.S. Department of the Treasury. Since rejoining Skadden, Ms. Olson has represented clients in a broad range of matters, including IRS audits, appeals and litigation; congressional investigations; private letter ruling requests and other administrative guidance; and in the submission of comments on proposed regulations. She also has advised clients on tax and social security reform, legislative matters and the structuring of transactions. She is a frequent speaker on tax, economic and federal budget matters and has testified before several congressional committees. As assistant secretary for tax policy, Ms. Olson had supervisory responsibility for providing the secretary of the treasury with policy analysis and recommendations for all domestic and international issues of federal taxation, including legislative proposals, regulatory guidance, and tax treaties, and for providing the official estimates of all government receipts for the president’s budget and treasury cash management decisions. Prior to joining Skadden in 1986, Ms. Olson held positions with the chief counsel’s office of the Internal Revenue Service as special assistant to the chief counsel, as an attorney-advisor in the Legislation and Regulations Division and as a trial attorney in San Diego District Counsel. In 2000 and 2001, she was the first woman to serve as chair of the American Bar Association Section of Taxation. She served as a senior economic advisor to the Bush-Cheney campaign and as federal tax advisor to the National Commission on Economic Growth and Tax Reform. She has been included repeatedly in Chambers USA: America’s Leading Lawyers for Business and The Best Lawyers in America for tax law. She serves as a Regent of the American College of Tax Counsel and on the board of several tax exempt organizations. She received distinguished service awards from the Federal Bar Association and from Tax Executives Institute. ------------------------------------------- Hal Hicks, Skadden, Arps, Slate, Meagher & Flom LLP
2:45 - 4:00 p.m. Panel 4: Discussion Panel: Ask the Experts – India Version
USA practitioner acting as advisor:	Joan Arnold, Pepper Hamilton (moderator)
USA corporate practitioner acting as client:	Bill Sample, Microsoft
USA practitioner:	David Forst, Fenwick & West
India practitioners answering the questions:	Porus Kaka, Advocate
	+ Rahul Garg, PricewaterhouseCoopers Rahul is a Bachelor in Science and Law, and a member of the Institute of Chartered Accountants of India. He is an Executive Director in Tax & Regulatory Services Practice of PricewaterhouseCoopers Pvt. Ltd., and has over 20 years experience in taxation matters both domestic and international tax of large and varied client base. He has an additional responsibility to focus on Oil & Gas industry and income tax litigation matters. Rahul’s experience includes Conceptualizing tax effective alternatives and plans, Evaluation and minimization of tax exposure in business transactions and restructuring, acquisitions, divestments, Tax due diligence for acquisition and investments, Planning for strategy on audits and tax litigation, Making effective compliance control models and tax risk management frameworks. Was awarded for his exemplary contribution and services to the cause of profession in the field of International Taxation by The Northern India Regional Council of the Institute of Chartered Accountants of India (ICAI). Was nominated as a member of the working group for “Study of Non-residents Taxation” constituted by the Ministry of Finance & Company Affairs, Government of India, to identify legal and procedural aspects of non-resident taxation and to make recommendations with a view to simplify and rationalize such laws and procedures. Continues to have regular dialogue with the tax policy makers in the government. Co-authored the India National Report on the topic “Tax Treatment of International Acquisition of Businesses”, for 59th Congress of International Fiscal Association (IFA) held in Argentina in 2005. Was lead tax specialist on the project for Business Process Re-engineering for the Income Tax Department of the Government of India. His experience includes rendering advice and solutions to various government undertakings, international companies in Oil & Gas, energy sector, service providers, media, IT, Pharma, Financial services, Aviation, Automotive etc. -------------------------------------------
This is an inter-active panel which follows up on panel 3 – India-Inbound – and allows USA practitioners (one advisor and one corporate tax executive) to ask specific questions of prominent Indian practitioners. Although the discussion will be lively and inter-active, the topics discussed will be formulated and reviewed beforehand. Go to top
4:00 - 4:20 p.m. Refreshment Break
4:20 - 5:35 p.m. Panel 5: Discussion Panel: Ask the Experts – USA Version
India practitioner acting as advisor:	+ Ketan Dalal, PricewaterhouseCoopers (moderator) Ketan Dalal is a Chartered Accountant, having qualified in 1981. He has extensive experience on cross border tax issues and investment structuring, including mergers and acquisitions. He was a member of the “Working group on Non resident taxation” formed by India’s Ministry of Finance in 2003. He has several publications to his credit including A study on Foreign Collaborations and Study on Transfer Pricing, both published by the Institute of Chartered Accountants of India. He is a member of SEBI’s High Powered Advisory Committee on consent / compounding matters. He is the Co-Chairman of the Direct Tax committee of Bombay Chamber of Commerce. The 2008 "Guide to the World's Leading Tax Advisers" published by Euromoney Institutional Investor, has listed him among India's top 10 tax advisors. -------------------------------------------
India practitioner acting as corporate client:	TBA
USA practitioner:	+ Peter Blessing, Shearman & Sterling Peter Blessing is a tax partner in the New York office of Shearman & Sterling LLP. His practice involves cross-border and domestic acquisitions, joint ventures, spinoffs, restructurings, financings, transfer pricing strategies, tax audits and dispute resolution, and competent authority requests. Mr. Blessing is First Vice Chair, New York State Bar Association Tax Section and a member of its Executive Committee; a Council director of the American Bar Association Tax Section; a member of the Executive Committee of the International Fiscal Association’s USA Branch; and an adjunct professor at Columbia Law School (JD program). He also is a fellow of the American College of Tax Counsel and a member of the Tax Forum. Mr. Blessing is a frequent lecturer on international tax matters. He has authored a treatise on U.S. income tax treaties, and numerous articles and texts on cross-border taxation. Mr. Blessing graduated from Princeton University, Columbia Law School and New York University School of Law (LLM Taxation). -------------------------------------------
USA practitioner:	+ John Staples, Burt, Staples & Maner John Staples is the managing partner of the U.S. office of Burt, Staples & Maner, LLP. Mr. Staples splits his time between the firm’s Washington D.C. and London offices and specializes in all aspects of in-bound and out-bound U.S. international taxation, including international tax planning, advice, audit defense and litigation. Mr. Staples’ clients include major financial institutions, multinational corporations headquartered in the United States and Europe, banking and business associations, foreign governments, and high net worth individuals. Prior to joining Burt, Staples & Maner, LLP in April 2003, Mr. Staples served as the Associate Chief Counsel International of the US Internal Revenue Service, the highest international tax position in the I.R.S. Mr. Staples directed a staff of more than 120 attorneys, tax law specialists, program analysts and support employees, including the staff of the Advance Pricing Agreement (“APA”) program. The Office of Associate Chief Counsel International (“ACCI”) provides advice to the IRS and US Treasury Department on internationally related litigation, technical guidance such as regulations and rulings, advice to IRS field operations, private letter rulings, advice on US tax treaties, US positions in multinational fora, and legislative proposals. While Associate Chief Counsel (International), Mr. Staples personally oversaw the U.S. government’s implementation of the section 1441 withholding tax regime. Mr. Staples currently represents a large number of financial institutions and multinationals with respect to both domestic and non-resident alien withholding and reporting compliance and audit defense. Before his appointment as Associate Chief Counsel (International) in January 2001, Mr. Staples served as the Acting Deputy Associate Chief Counsel (International-Technical) and as the Assistant Chief Counsel (International-Technical). In both positions, Mr. Staples had primary responsibility for managing the technical international tax program for the office. From June 1995 to February 1998, Mr. Staples served as Assistant to IRS Commissioner Richardson where he advised the Commissioner on a wide array of issues, particularly international, financial products and financial institutions tax issues. -------------------------------------------
USA practitioner on private equity:	Penny Mavridis, KPMG
This is an inter-active panel which follows up on panel 2 – USA-Inbound – and allows India practitioners to ask specific questions of prominent USA practitioners. Although the discussion will be lively and inter-active, the topics will be formulated and reviewed beforehand. Go to top
5:35 - 5:45 p.m. Day One Conclusion
Thursday Evening - Gala Banquet Sponsored by KPMG
FRIDAY MAY 29 2009
8:45 - 9:15 p.m. Keynote 2: Enhanced Relationships Between Tax Authorities and Taxpayers: Myth or Reality
Speaker: + Jerry Libin, Sutherland Jerry Libin is the firmwide Chair of the 85-lawyer Tax Group at Sutherland Asbill & Brennan LLP. His practice involves domestic and inter- national tax planning and controversy matters on behalf of U.S. and foreign multinational corporations. From 2001 through 2005, Mr. Libin served as President of the International Fiscal Association (IFA). He is now an Honorary President of IFA and currently serves on the Executive Committee of the USA Branch of IFA. Mr. Libin is also a former Chair of the Taxation Division of the District of Columbia Bar. He is a Fellow of both the American College of Tax Counsel and the American Bar Foundation, as well as a member of the American Law Institute. He has chaired several committees of the Section of Taxation of the American Bar Association and has served as a member of the ABA Tax Section Council. He has also been a Professorial Lecturer in Law at the George Washington University Law School. Mr. Libin is a graduate of Northwestern University and the University of Michigan Law School. Prior to joining the Sutherland firm, he served as law clerk to Justice Charles E. Whittaker of the United States Supreme Court. -------------------------------------------
This address, at the beginning of day two, will explore recent efforts in some countries to foster better working relationships between tax authorities and corporate taxpayers. It will provide a good kick off to the 2nd day's discussion of tax administration. Go to top
9:15 - 10:15 a.m. Panel 6: US APA Program: History, Operation, Effectiveness
USA commentary:	+ Bob Green, Skadden Arps (moderator) Robert Green is of counsel in the International Tax Group and head of the firm’s Transfer Pricing practice worldwide, including the use of competent authority and APAs to resolve disputes. He counsels clients in managing and resolving tax disputes arising from global, regional and bilateral business transactions. Mr. Green brings a wealth of experience from both the private and public sector. Most recently, Mr. Green was a partner with Caplin & Drysdale in Washington, D.C., focusing on transfer pricing planning and resolution of cross-border tax controversies. From 2004 to 2006, he was the director, international for the Internal Revenue Service, where he served as U.S. competent authority on cross-border tax issues and treaties with particular emphasis on transfer pricing, permanent establishment and issues of income characterization. During his tenure at the IRS, Mr. Green was responsible for resolving hundreds of cases, drafting agreements and advising Congress, the Department of the Treasury and other government bodies on international tax issues. He was also responsible for initiating the first bilateral APA with China. Prior to his government service, Mr. Green was the director of international tax and, later, director - taxes/Europe for Procter & Gamble. As a result of his tenure with P&G, Mr. Green has extensive experience with audit and compliance matters, as well as transfer pricing-related matters. Mr. Green is a frequent speaker on transfer pricing and related issues arising from global tax controversies. He has chaired panel discussions on these subjects at the IFA Congress (Kyoto), the TCPI Symposium, the TEI Midyear Conference and an ABA Tax Section Meeting. Mr. Green is the co-founder of the International Taxation Summit held annually in Shanghai, China. -------------------------------------------
USA on history:	Mike Durst , Steptoe & Johnson
USA on operation:	+ Craig Sharon, Internal Revenue Service Craig Sharon joined the APA Program as Special Counsel in March 2005 and was promoted to APA Deputy Director in April 2007. He is currently the Director of the APA Program. For the past two years, Craig has also functioned as the principal manager for two APA industry coordination teams: (i) the pharmaceutical and medical devices group and (ii) the automobile group. Prior to joining the IRS, Craig was a tax partner at Caplin & Drysdale Chartered, a Washington, D.C.-based tax boutique, and Of Counsel in the Washington, D.C. office of Baker & Hostetler, LLP. Craig has also taught for a number of years at Georgetown University Law Center, where he currently teaches a course on transfer pricing in the LLM program. While in private practice, Craig authored a number of articles relating to transfer pricing. Craig received his J.D. from Georgetown University in 1988 and his B.A. in Economics from the University of Idaho in 1981. Before and during law school, Craig worked for three different members of the U.S. House of Representatives. -------------------------------------------
USA on effectiveness:	+ Burton Mader, WalMart (re. WalMart’s China-USA APA) Burton Mader, Senior Director International Tax for Wal-Mart Stores, Inc. – Directs the company’s tax administration for intercompany cross-border transfers of property and services. Burton represented the company before the US Internal Revenue Service and the State Administration of Taxation of the People’s Republic of China during the negotiation of the first bilateral advanced pricing agreement between the countries. He subsequently coauthored an article on this historic agreement which appeared in the August 9, 2007 edition Tax Management’s Transfer Pricing Report (Vol.16, No. 8) and also in BNA International’s September 2007 edition of Tax Planning International Transfer Pricing (Volume 8, Number 9). -------------------------------------------
Indian commentary:	TBA
This panel will discuss development of the US advance pricing agreement (APA) program, explore how it operates and whether it has been successful over the years; it will conclude with a case study demonstrating its effectiveness as a measure to avoid or mitigate disputes. Go to top
10:15 - 10:35 a.m. Refreshment Break
10:35 a.m. - 12:20 p.m. Panel 7: Discussion Panel: Comparative Dispute Resolution and Avoidance Measures
India practitioner:	+ Ajay Vohra, Vaish Associates (moderator) Mr Ajay Vohra is the Managing Partner of the Corporate, Tax and Business Advisory Law Firm, Vaish Associates, Advocates at New Delhi, Gurgaon and Mumbai, which is part of the World Law Group, an alliance of law firms of 37 countries from across the globe. Mr. Ajay Vohra is a qualified Chartered Accountant, and also an advocate. He has been practicing since the last 25 years in the area of domestic and international tax and is a leading arguing counsel before Tax Tribunals, High Courts and the Supreme Court. The Courts have often acknowledged and referred with compliments to his contribution. He enjoys enormous credibility, respect and goodwill amongst the business and professional community. He is actively involved in the M & A practice of the firm. Mr. Vohra has been regularly contributing articles in various journals and addressing seminars nationally and internationally. Amongst various positions held are Member of Executive Committee of International Fiscal Association – India Branch, Member of Managing Committee / Chairman of the Direct Taxes Committee of the PHD Chamber of Commerce and Industry, Co-Chairman of the Direct Taxes Committee of FICCI, Vice Chair of the Tax Law Committee of the International Pacific Bar Association and Member of Board of Directors / Regional Coordinator for Asia-Pacific Region, of the World Law Group. Mr. Vohra has been rated as one of the “most highly-acclaimed legal experts in the Asia-Pacific region” in the field of Taxation by Asialaw Leading Lawyers survey for the year 2006, 2007 and 2008. -------------------------------------------
India practitioner:	Vijay Mathur , World Tax Service India Pvt. Ltd.
India corporate practitioner:	R. Sridhar, Coca-Cola India
USA practitioner:	Mary Bennett , OECD
USA practitioner:	Carol Dunahoo , Baker & McKenzie
USA practitioner:	+ Alan Granwell, DLA Piper Alan Granwell has practiced in the area of international taxation for over 35 years. He represents US multinational groups and US high-net-worth individuals investing or conducting business abroad, and foreign multinational groups and foreign high-net-worth individuals investing or conducting business in the United States. Mr. Granwell's practice encompasses matters involving tax planning and related compliance and tax controversies. He also conducts an active administrative practice, regularly representing clients before the Internal Revenue Service and the US Treasury Department (including negotiating advance pricing agreements, conducting competent authority proceedings, assisting clients in obtaining regulatory changes, and tax rulings), and advising on tax legislation matters. From 1981 through 1984, Mr. Granwell was the International Tax Counsel and Director, Office of International Tax Affairs at the US Department of the Treasury. In that capacity, Mr. Granwell was the senior international tax advisor at the Treasury Department and was responsible for advising the Assistant Secretary for Tax Policy on legislation, regulations, and administrative matters involving international taxation and directing the US tax treaty program. Mr. Granwell has written numerous articles and has been a frequent lecturer on international tax matters. Most recently, he spoke at the Federal Bar Association's 33rd Annual Tax Conference in Washington, DC, moderating a panel on "Internal Restructurings – Can it be Done without Double Taxation?" Mr. Granwell has been named one of the world's leading tax lawyers in independent studies of tax law professionals worldwide, including studies published by Chambers & Partners, Euromoney Publications, Expert Guide to the World's Leading Tax Advisers, The Best Lawyers in America, The Best of the Best USA 2008 and Who's Who Legal, and also has been named as one of the world's leading transfer pricing advisers in the Euromoney Guide to The World's Leading Transfer Pricing Advisors. Chambers Global: The World's Leading Lawyers for Business cites him as a notable practitioner and describes him as "smart and easy to work with." Chambers USA: America's Leading Lawyers for Business notes that Mr. Granwell embodies “a unique combination of extreme technical skill, an international perspective on tax and a tremendous list of global contacts." He has been named a Washington, DC Super Lawyer. -------------------------------------------
This inter-active panel is still in the developmental stage but could focus on any number of practical topics: audits and competent authority process, levels of appeal or other remedies, judicial review, pre-filing or advance resolution mechanisms, use and effectiveness of penalties, documentation and disclosure, exchange of information and other inter-agency relationships. Go to top
12:30 - 2:15 p.m. Luncheon Program with Keynote 3: Tax Treaties Sponsored by Ernst & Young
Speaker: + David Tillinghast, Baker & McKenzie David R. Tillinghast is a partner in the New York office of Baker & McKenzie. He represents a broad spectrum of U.S. and foreign companies, both publicly and privately held. His practice includes the tax aspects of domestic and international transactions, including mergers and acquisitions, securities offerings, investment funds, joint ventures and leasing, project and other types of financings, as well as transfer pricing and related issues. Mr. Tillinghast served as a member of the Permanent Scientific Committee of the International Fiscal Association from 1983 to 2000 and as its Chairman from 1995 to 2000. He has also served as Reporter for the American Law Institute project on the international aspects of U.S. income taxation, as Chairman of the Committee on Foreign Activities of U.S. Taxpayers of the American Bar Association, and as Chairman of the Committee on Taxation of the Association of the Bar of the City of New York. He has published a book entitled Tax Aspects of International Transactions and prepared the chapter entitled: “Tax Considerations in Merging or Acquiring U.S. Enterprises” in the Handbook of International Mergers and Acquisitions. He was formerly Special Assistant for International Tax Affairs (the position presently titled International Tax Counsel) of the United States Department of the Treasury. The National Law Journal reported that he “is generally regarded by his peers as the country’s top international tax lawyer”. In 1996, the New York University School of Law Masters Program in International Taxation established in his honor the David R. Tillinghast Lectures on International Taxation. Mr. Tillinghast is a graduate of Brown University (cum laude with honors in Philosophy) and Yale Law School (where he was Note and Comment Editor of the Yale Law Journal). -------------------------------------------
David Tillinghast will address topical issues having to do with tax treaties, possibly including India, USA or OECD treaty developments; the discussion may take on a broader or historical perspective vs. specific technical topics, or it is possible it might focus on specific topics.
2:30 a.m. - 4:30 p.m. Panel 8: Special Topics in Transfer Pricing
India practitioner:	Shanto Ghosh, Deloitte Haskins & Sells (moderator)
India practitioner:	Kuntal Dave, Nanubhai Desai & Co.
India practitioner:	Uday Ved , KPMG
USA practitioner:	Bob Ackerman , Ernst & Young
USA practitioner:	+ Matt Frank, General Electric Company Matthew Frank joined GE in June 2008 as Senior Tax Counsel, Transfer Pricing. From 2003 to 2008, Mr. Frank was Director of the U.S. Advance Pricing Agreement Program, and prior to that was a shareholder in the Washington DC law firm Caplin & Drysdale, Chartered. Mr. Frank received his law degree from the University of Michigan, and taught international tax for many years at the University of Michigan Law School and the University of Pennsylvania Law School. -------------------------------------------
USA practitioner:	+ Marc Levey, Baker & McKenzie Marc Levey is a partner in the New York office of Baker & McKenzie. He has over 30 years of experience in international taxation and is a nationally recognized expert in his field, particularly in structuring and defending transfer pricing strategies. He has frequently been acknowledged by Euromoney as one of the “World’s Leading Tax Advisors,” included in its “Best of the Best” global tax experts. Mr. Levey’s practice focuses on transfer pricing and cross-border transactions; tax controversies and litigation; general corporate, international and partnership taxation, and restructuring multinational company’s global operations. He has worked in various industries such as pharma/life sciences, financial institutions, energy, automotive, chemicals, electronics, consumer goods, gaming, fashion and luxury products. Mr. Levey serves as the Chair of the firm’s Global Transfer Pricing Steering Committee and Co-Chair of the Firm’s Fashion and Luxury Goods Practice Group. Mr. Levey previously served as Tax Attorney with the International Tax Ruling Group of the National Office of the IRS from 1975 to 1977. He acted as Senior Trial Attorney with the Tax Division of the U.S. Department of Justice from 1977 to 1981. He was the Special Attorney to the Attorney General of the U.S. Department of Justice in 1982. Mr. Levey was formerly a partner in a Big Five firm, where he headed the transfer pricing practice for the greater metropolitan New York area and was member of the firm’s international task force. In addition, Mr. Levey was a tax partner at a prominent New York-based law firm. -------------------------------------------
USA practitioner:	+ Mike Murphy, Alvarez & Marsal Taxand, LLC Mike Murphy is an Economist and Managing Director with Alvarez & Marsal Taxand, LLC. He serves as National Practice Leader of the firm's Transfer Pricing practice and is based in the firm's offices in Washington, DC. With more than thirteen years of experience, Mr. Murphy has advised clients on cross-border and domestic transfer pricing across a wide range of industries including consumer package goods, food and beverages, telecommunications and fiber-optic services and equipment, consumer electronics, quick serve restaurants, hotels, REITs, financial services, mutual funds, commodities trading, oil and gas exploration and production, liquefied natural gas, oilfield services and equipment, offshore drilling, automotive and automotive equipment, software, mining, apparel, luggage, paper products, engineering procurement and construction, cement, pumps valves and related equipment, etc. Mr. Murphy has provided transfer pricing planning and documentation services to clients in areas relating to procurement and logistics management, shared services, equipment and facility leasing, contract and toll manufacturing, commissionaire and stripped distributor structures, IP licensing/valuation and migration, interest rate and guarantee fee determination, acquisition/integration planning, global transfer pricing planning, and Fin 48 documentation. Mr. Murphy has also assisted his clients with the development of US and multi-country transfer pricing documentation, the establishment (and unwinding) of cost sharing arrangements, audit defense and appeals proceedings, and filings for Competent Authority relief and Advance Pricing Agreements. In addition to completing hundreds of studies, Mr. Murphy has provided the economic analyses for 14 Advance Pricing Agreements (involving the United States, Canada, Australia, Korea, Japan, Belgium, and Mexico) and has represented his clients before IRS, CRA, the Mexican Hacienda, the Japanese NTA, and the Korean NTS. Previously, Mr. Murphy was a partner with Arthur Andersen’s Office of Federal Tax Services in Washington, DC and with Deloitte & Touche. At Deloitte, Mr. Murphy served as the head of the firm’s Mid America Transfer Pricing Practice based in Dallas, TX. Prior to Andersen, Mr. Murphy was a faculty member in the Economics Departments at University of Texas at Austin and Tufts University. Mr. Murphy holds a bachelor's degree in Philosophy (with a minor in Economics), cum laude, from The Ohio State University. He received his MA and PhD degrees in Economics from Northwestern University. Mr. Murphy has been a frequent speaker and lecturer on transfer pricing tax matters. NOTE: Alvarez & Marsal employs CPAs but is not a licensed CPA firm. -------------------------------------------
Although transfer pricing may be one of the topics discussed in the inbound panels 2 and 3, this panel will allow time to address the most contentious transfer pricing issues in more detail. It will also serve to amplify those topics as well as the topics discussed in panels 6 and 7 - US APA Program and Comparative Dispute Resolution and Avoidance Measures, respectively. Transfer pricing lies at the center of many disputes in both countries. Go to top
4:30 - 4:45 p.m.	Closing and Acknowledgements

Speakers are subject to confirmation.