The Singapore University of Social Sciences (SUSS) School of Law and Tribute are proud to present the inaugural webinar on international tax arbitration with a focus on Asia.
With more than 3,000 Double Tax Agreements (DTAs), the system of DTAs has been the bedrock of the international tax system. For several years, Article 25 of the Model Tax Convention of the Organisation for Economic Co-operation and Development on Income and on Capital ('OECD Model Tax Convention'), and Article 25 of the United Nations Model Double Taxation Convention between Developed and Developing Countries ('UN Model Tax Convention') had relied on a negotiation-based Mutual Agreement Procedure (MAP) as the only mechanism for the resolution of disputes arising from a tax treaty. In order to improve the function of the MAP mechanism, the OECD, in 2008, and the UN Tax Committee, in 2011, introduced a binding ad hoc arbitration clause in Article 25(5) of their respective Model Tax Conventions.
Since then, mandatory arbitration has been recommended by BEPS Action 14 and adopted by a number of countries such as the US and Germany. Europe has advanced far ahead with its Arbitration Convention. In Asia, however, arbitration as a means to resolve disputes in international tax remains at the starting point. The lack of a strong coherent regional multinational grouping and institution, the wide variations of circumstance and capacities of the 40 countries across Asia and the relative lack of experience in international arbitration forums are some of the reasons cited for the paucity of international tax arbitration cases in Asia.
However, two recent arbitral awards involving the Indian government and multinationals has renewed interest in arbitration as an effective means to address cross-border tax disputes. It is with this in mind that we bring you penetrating and comparative insights from the world's leading academic, industry experts, tax professionals, tax administrators and the judiciary in this vastly important area that is a cornerstone of international tax dispute resolution in G20-OECD Base Erosion Profit Shifting project and the upcoming OECD Inclusive Framework Pillar One with a particular focus on Asia.