International Tax: Latest Developments

I N S T I T U T E O F A D V A N C E D L E G A L S T U D I E S SCHOOL OF ADVANCED STUDY U N I V E R S I T Y O F L O N D O N London Alumni International Tax Conference 2010 International Tax: Latest Developments Monday 4 October 2010 Rachael Arning SPEAKERS LIST Rachael graduated with a BMus from the Royal College of Music before completing her musical training in Vienna. After playing with various orchestras in Europe, she returned to the UK to complete a law conversion course at the College of Law, before qualifying as a solicitor specialising in tax law. She is currently a manager in the M&A tax group at Deloitte and is studying part-time for the M.A. in Taxation (Law, Administration & Practice) at IALS, University of London. Philip Baker QC Philip Baker joined Gray s Inn Tax Chambers in 1987, having been a full-time lecturer in law at London University from 1979 until then. He has maintained some links with academia, and is now a Senior Visiting Fellow at the Institute of Advanced Legal Studies, University of London. He took silk in 2002. He specialises primarily in international aspects of taxation, which covers both corporate and private client matters. He has a particular interest in taxation and the European Convention on Human Rights, and is the author of a book on Double Taxation Conventions. He has appeared in cases before courts and tribunals at virtually every level from the Special Commissioners (now the Tax Tribunal) to the House of Lords, Privy Council and European Court of Justice He is a former member of the Council of the Chartered Institute of Taxation, and remains a member of several committees of the CIOT and of the International Tax Sub-Committee of the Law Society. He is a member of the UK Committee of the International Fiscal Association and a member of the Permanent Scientific Committee of IFA. 1

Dr. Adriano Cefai B.A., Adv. LL.M. (Lon) LL.D Adriano Cefai was conferred with a Doctorate of Laws (LL.D.) from the University of Malta in 2005. Following his apprenticeship with Cefai & Associates, in corporate law and administration, he furthered his studies at Queen Mary University (London) where he was awarded with merit an LL.M. in Trusts and International & EC Tax Planning. In 2004 Adriano joined as associate Cefai & Associates a family oriented law firm founded in 1976 and today a well known specialist commercial and shipping law firm on the international and European circuits. In 2007 he was made partner of the firm and to date manages the ship registration and administration department and the international commercial agreements and advice which the firm handle are managed by him. He also joined Corporate Services Limited (CSL) a Maltese corporate service provider established in 1988 acting as a Director and Trustee. In 2006 he was appointed as Director, Company Secretary, compliance officer and Money Laundering Officer of Altedge Capital Management Limited a licensed Investment Management Company. During his tenure with CSL he advised on various local regulatory aspects (Gaming, Investments, Insurance) and assisted clients with structuring their activities through Maltese trading and holding companies. Adriano in 2009 co-founded Fides Corporate Services Limited and related entities with the vision of creating a young dynamic and specialist consultancy and corporate services provider. Adriano is a member of the Chamber of Advocates, Institute of Financial Services Providers, Finance Malta, Malta Institute of Management. Valerio Cirimbilla Valerio Cirimbilla is a qualified lawyer and a tax consultant in Rome. He is a senior associate at Di Tanno e Associati a leading Italian law firm awarded as the best Italian tax law firm in 2007 and 2009. His practice focuses on domestic and international tax law, corporate finance and M&A transactions as well as tax litigation. He received an LL.M. degree from Queen Mary University of London, a law degree in Italy from Università la Sapienza and a master in Italian taxation from Scuola Superiore dell Economia e delle Finanze. Gauthier Cruysmans Gauthier Cruysmans works in the International Tax Department of GDF Suez in Brussels. He holds a Master in Law from the University of Louvain, a Master in Business Economics from the University of Gent and a Master in Tax Management from the Solvay Business School. Before joining the LL.M. in International Tax at Queen Mary, University of London for the academic year 2009-2010, he worked during three years for Deloitte in Brussels as International Tax Consultant. 2

Wim Eynatten Wim Eynatten is International Tax Partner at Deloitte Belgium and is based in Brussels. Wim has significant experience in International Tax Law and Taxation of Corporations, and combines many years of experience at a Big4-organisation with relevant experience in a Magic Circle law firm. He holds a Law Degree of the Catholic University of Leuven, a Tax Degree of the Fiscale Hogeschool Brussels as well as a LL.M (International Tax) of the University of London, Queen Mary College. Wim has a strong expertise in the application of R&D tax incentives and the Patent Income Deduction, and he is part of Deloitte's Innovation Services team. He has spoken at various seminars and conferences and is the author of various publications in the field of R&D and IP tax strategies. Wim is also a member of Deloitte's Japanese Business Taxation Europe (JBTE) team and leads the JBT practice in Belgium. Maria Gregoriou Maria Gregoriou is a holder of an LLB (Warwick, Hons), Barrister-at-law (Gray s Inn Scholar), LLM Tax (UCL) and a practicing member of the Cyprus Bar Association. She has also been awarded the Heather Self Gold Medal for obtaining the highest mark in Paper I, Principles of International Taxation for the Advanced Diploma in International Taxation, a professional qualification awarded by the Chartered Institute of Taxation in the UK. Maria has worked in the tax department of a Big Four Audit Firm as a Tax Legal Advisor and has broad expertise in corporate and legal matters of a fiscal nature. Since 2008, Maria is the Managing Director of One Tax Chambers, a specialized law firm which provides fiscal legal services in the realm of corporate law, international tax, indirect tax, transfer pricing, tax and legal due diligence, registration of companies and other entities, corporate and fiduciary services, and trust creation and administration. Per Gyllenstierna Per Gyllenstierna is a Relationship Manager with Intertrust Scandinavia based in Copenhagen and Malmö. His previous experience as a tax lawyer includes working in the lower tax court in Sweden. He holds a LL.M. in international law from Lund University, Sweden and a LL.M. in tax law from the University of London. Sabine Heidenbauer Sabine Heidenbauer, LLM is a lecturer at the and at the University of Vienna. She currently works with Deloitte, Vienna. Lily Huang Lily L. Huang is a legal consultant at Greymans in California, USA. She received her undergraduate degree from UCLA, law degree from Vanderbilt University Law School, and her Masters in Taxation at Queen Mary University of London. 3

Philip Laroma Jezzi Philip Laroma Jezzi (London, 1970) is tax partner and co-founder of Tombari-Laroma & Ass., a small legal firm based in Florence and Milan focused on tax and corporate law. In 2009 Philip was awarded the MA in tax at the Institute of Advanced Legal Studies in London and feels proud of having been (and to an extent still being) a student of Prof. Philip Baker and Prof. Tom O'Shea. He is author of several publications in the area of trust law, EU and international tax law. Kay Kimkana Kay Kimkana graduated with an LL.M in Tax with Distinction from Queen Mary, University of London in 2009, and currently works in the Transfer Pricing Group in PricewaterhouseCoopers London. Kay has expertise in broader international taxation matters, and has worked as a Senior Research Associate with the International Bureau of Fiscal Documentation (IBFD). Christian Koch Christian Koch is a lawyer and a certified tax consultant. He works for Haas & Haas - lawyers, certified tax consultants and auditors in Giessen. Before joining Haas & Haas, he worked for Cleary Gottlieb Steen & Hamilton in Frankfurt. His practice focuses on tax law and corporate law. He passed his first state examination at the University of Bayreuth in 2003 and his second state examination in Berlin in 2005. He received an LL.M. degree from Kings College London in 2007. In 2010, Christian Koch also qualified as a certified tax consultant. Deepinder Malhotra Deepinder Malhotra is a dual qualified lawyer (both Indian Advocate and English Solicitor) having practiced tax law both in India and U.K. He holds a Bachelor in Commerce and Law degree from Panjab University, India, a Masters in Tax Law from Queen Mary, University of London and also has cleared International Tax and EC Tax papers of ADIT qualification conducted by Chartered Institute of Taxation in the UK. He has worked in the past with Cobbetts LLP, a national UK law firm as a corporate tax solicitor advising on tax aspects of M&A, restructuring /reorganization, private equity and share schemes. He is presently the Managing Partner of Pinnacle Legal LLP, a specialist law firm based in Chandigarh, India specializing in tax, corporate and immigration laws. Ioanna Mitroyanni Ioanna Mitroyanni is a policy officer at the European Commission. In addition to the Common Consolidated Corporate Tax Base, which has been her main assignment since her recruitment in April 2008, she has also extensively dealt with the Code of Conduct in business taxation. Ioanna practised as a lawyer in the fields of VAT and company taxation between 2002 and 2004. She holds postgraduate degrees from the University of Cambridge 4

and LSE in European and Tax Law respectively. Her PhD in group taxation was successfully defended in December 2007. Masahiro Murashima Masahiro Murashima, a qualified lawyer in Japan, graduated from the LLM in international taxation at Queen Mary University of London, and he is currently working at Kitahama Partners, an international law firm, specialising in international taxation and corporate matters. He also has a business background and obtained an MBA degree at the University of Bath. He can be reached at MMurashima@kitahama.or.jp Dr. Ralph Obser Dr. Ralph Obser - Ralph works as a lawyer and tax advisor with Honert + Partner in Munich, Germany. He advises predominantly mid-sized companies on all areas of corporate and tax law. Prior to joining Honert + Partner he worked in the international tax department of Ernst & Young. Eric Osterweil Eric Osterweil, based in the Brussels office of Steptoe & Johnson LLP, heads Steptoe s European tax practice. Mr. Osterweil has been practicing law for over 40 years, and he has decades of experience advising corporate and high-net-worth individual clients regarding complex tax planning matters that involve the tax laws of multiple jurisdictions. He has particular experience advising clients with respect to structures in which persons, assets, and/or operations move between high-tax and lowtax jurisdictions. These structures often involve trusts and require detailed knowledge of bilateral and multilateral tax treaties. Mr. Osterweil advises with respect to the tax aspects of compensation packages for expatriate executives, and counsels with respect to indirect taxation, including the application of the European value-added tax system. Mr. Osterweil s approach is a practical one; he provides pragmatic advice and has developed a reputation for being highly responsive to clients, regardless of the time zone. He is supported by Steptoe s full tax department and maintains excellent relationships with correspondent tax and other practitioners around the world, whom he calls on for detailed country-specific advice, as needed. Eric Osterweil is an Honorary Board Member of the International School of Brussels (former chair, 1990-1993); board member of the Commission for Educational Exchange (Fulbright Program), Belgium/Luxembourg branch; and vice-president of the American Memorial Day Association, Belgian branch. He is a past board member of the American Chamber of Commerce in Belgium (1978-2004) and served on the Chamber's Executive committee. Eric Osterweil is a frequent speaker and contributor to professional publications. 5

Gaetano Pizzitola Gaetano Pizzitola is a international tax partner of Ernst & Young in Rome. He joined the Rome practice after working as Italian tax desk in the New York office of Ernst & Young, which he joined in Milan in 1996 from Baker & McKenzie Milan. His previous experiences include working in tax litigation and with the Italian Revenue after training with another Big 4. He focuses on cross-border investments inbound and outbound and is currently increasingly assisting multinationals in managing tax audits, settlements, rulings, APAs, and court cases. He holds the LL.M. In taxation at QM&W College, a law degree in Italy and a master in Italian taxation by Ipsoa/Kluwer. Gabrielle Pizzuto Gaby graduated in law with a first class degree at the University of Malta in 2005 and was conferred an M.A. in Taxation (Law, Administration & Practice) with distinction from IALS, University of London in 2009. She worked as a tax consultant at KPMG Malta and is currently working at the Permanent Representation of Malta to the EU in Brussels, representing the Maltese government in Council working parties on customs matters. Her dissertation entitled "ECJ Jurisprudence on Cross-Border Loss Relief: The Impact of Marks & Spencer on Member States' Group Taxation Regimes" submitted in partial fulfilment of the M.A in Taxation won the BNA International Prize for the best tax dissertation in 2009. J D Rolim Joao Dacio Rolim is a Fellow Researcher at Queen Mary University of London. He holds a PhD in Tax Law (UFMG - Brazil) and an LL.M. in International Taxation from the London School of Economics and Political Science (LSE). He is a Professor of Tax Law at FGV (Fundação Getúlio Vargas - Brazil), a Member of the Consulting Board of the IFA Brazilian Branch and a Director of the AIBAT (Ibero- American Association of Tax Arbitration). Grahame Turner Grahame qualified as a Chartered Accountant in 1978 and then as a Chartered Tax Adviser in 1980 after graduating with a degree in Physics at Warwick University. He was head of tax of the Hambros PLC group until it was taken over by Societe Generale in 1998 and then head of financial engineering advisory at Credit Lyonnais until 2003, when it was merged with Credit Agricole. Since December 2007, when he graduated with an LLM from Queen Mary, University of London, Grahame ran and taught the LexisNexis tuition programme for the ADIT Paper 3 EU Option for the 2008 and 2009 examinations and taught the EU Tax law LLM module at King s College as a visiting tutor for the academic year 2009/10. Grahame is currently registered to read for a PhD at the Institute of Advanced Legal Studies in the area of EU Law and UK direct tax law. 6

Arturo Trevino Villarreal Arturo Trevino Villarreal is currently a Tax Manager International Tax Services within PwC Romania. His professional qualifications are BSc in Law, Universidad Autonoma de Nuevo Leon (Mexico); LL.M. in Commercial and Corporate Law, Universidad Antonio de Nebrija (Spain); LL.M. in Tax Law, Queen Mary, University of London (UK). He has sound knowledge on EU Tax Law, International Taxation and Corporate Law, and also experience in different industries such as energy, real estate, consumer products and retail. Arturo is fluent in Spanish (native) and English, and has knowledge of French and Italian. Richard Wellens Richard Wellens is a recent graduate of the University of London's MA in Taxation, delivered through the Institute of Advanced Legal Studies, and works in the Corporate Finance division of Commerzbank in London. He is responsible for structuring and executing tax-efficient financing transactions both for the bank and its clients, utilising debt and equity-based structures in the UK and other European jurisdictions. 7