taxinstitute.com.au

Inward and Outward resOurces Investment

The Chartered Institute of Taxation in conjunction with

The Taxation Institute

29 November 2012Hyatt Regency, Perth, Australia

second asia Pacific conference

2 - THE TAX INSTITUTE - Inward and Outward Resources Investment Conference

weLcOmeInward and Outward Resources Investment Conference

In April 2012 the new Asia Pacific branch of the UK Chartered Institute of Taxation held its first conference in Singapore. It was well received by those who attended. The closer ties forged between the Chartered Institute of Taxation and The Tax Institute through the use of the common designation CTA provide a perfect opportunity for the two Institutes to host a joint conference.

As a result of the booming resources sector, Australia has escaped the worst depredations of the GFC. The importance of this sector and the cross border activity within the Asia Pacific Region were the stimulus for this conference on Inward and Outward Resource Investment. The expert speakers and their topics should provide enlightenment to anyone who is involved in the resources area within the Asia Pacific Region.

I look forward to seeing you in Perth. If you can spare the time, take an extra day or two to watch two of the world’s leading test cricket nations do battle at the famous WACA Oval.

Gordon Cooper, CTA, AM, Chair, Asia Pacific Conference Organising Committee Chair, Australasian Branch of the Chartered Institute of Taxation Former President of the Taxation Institute of Australia

Chris Evans, CTA, Chair, Asia Pacific Branch of the Chartered Institute of Taxation

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tecHnIcaL PrOGramConference program

Thursday 29 November 2012

Time Session Presenter

8.30am–9.00am Registration

9.00am–9.15am Chairman’s introduction and welcome Gordon Cooper

9.15am–10.00am Resources Tax Systems from Myanmar to IndonesiaThis session will discuss a number of exceptional and practical tax aspects of mining regimes throughout Southeast Asia, including:

� Myanmar’s oil and gas fiscal regime, and how is it applied in practice � Tax implications on the transfer of coalmining tenements in Indonesia � Lao PDR’s transfer pricing enforcement in the mineral sector � Cambodia’s surprising tax treatment of financing mineral exploration and development � New tax rates, withholding tax practices and DTA interpretation relevant to mineral operations in Vietnam.

Edwin Vanderbruggen,VDB Loi Myanmar

10.00am–10.45am Resource Taxation - A Rapidly Changing Playing Field Around the World? � Resource taxation developments in Australia, including Petroleum Resource Rent Tax (PRRT), Minerals Resource Rent Tax (MRRT) and State royalties

� Global and Asia Pacific developments in resource taxation � Update on International Monetary Fund’s studies on fiscal regimes for extractive industries in developing countries.

Rod Henderson,Tax Partner – Energy & Natural Resources, Asia Pacific Tax Leader – Energy & Natural Resources, KPMG Sydney

10.45am–11.15am Morning tea

11.15am–12.00pm Hong Kong Headquarters and RHQ Companies � The Hong Kong Tax Regime � The PRC Tax Regime � Corporate inversions into Hong Kong and listings of resource companies in Hong Kong

� Some comments on the Singapore tax regime and on listings of resource companies in Singapore.

Deborah Annells,AzureTax Ltd, Hong Kong

12.00pm–12.45pm Resource Projects – Tricks, Traps and Tribulations � Inbound holding and funding structures � Transaction structures including purchasing companies, assets and farm-ins � Tax consolidation planning � Stamp duty on acquisition.

Carlo Franchina,Tax Partner – Energy & National Resources, National Tax Leader of Oil & Gas, KMPG Perth

12.45pm–1.45pm Lunch

1.45pm–2.30pm Resolution or Conundrum: Do Farmout Rulings MT 2012/1 and MT 2012/2 Unscramble the Mess for Resources Farmouts? � Summary of the income tax state of play for farmors and farmees following the Farmout Rulings.

� Is the Commissioner correct? � Some key areas of uncertainty which remain:

– CGT overlap if a separate asset analysis applies to rights to services as well as monetary amounts.

– Unanticipated gains or losses where amounts ultimately paid or services ultimately provided differ from the initial rights.

– Do arrangements providing for free carry payments of joint venture cash calls come within the rulings at all?

– If not, does the inward investing farmee, really have a right to claim a deduction for free carry payments?

� Wrap-up of other tax considerations.

Ian Murray,Assistant Professor, Faculty of Law, University of Western Australia, and Consultant, Ashurst Australia

2.30pm–3.15pm Open forum: Questions to the panel of presenters

3.15pm–3.30pm Conference close

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Deborah Annells founded AzureTaxConsulting in Hong Kong in 2002, later incorporating AzureTax Ltd Chartered Tax Advisers. AzureTax Ltd is now one of the two leading independent international tax practices in Hong Kong. Prior to setting up her own international tax advisory practice, Deborah headed tax structuring for North Asia for The Citibank Group Private Bank. She also held director/partnership level positions for international accounting firms in Hong Kong and the United Kingdom, and has resided in Hong Kong for the last 18 years. Deborah is a well-known commentator and writer on international corporate and personal tax and trust structuring issues and contributes to several international taxation publications. Deborah hold a BSc Degree from the London School of Economics, is a Fellow of the Hong Kong Institute of Certified Public Accountants and a Fellow of the Taxation Institute in Hong Kong. She qualified as a Chartered Accountant in England and Wales, and is a Chartered Tax Adviser (Fellow) with the United Kingdom Chartered Institute for Taxation.

Carlo Franchina is a Tax Partner with KPMG in Perth. Carlo has 23 years corporate tax experience in Australia and the UK and was appointed partner in charge of the Perth Tax Practice in 2005. Carlo has extensive experience in advising on income tax, capital gains tax, PRRT, PSC and royalties affecting the energy and natural resources industry in Australia and overseas, including the Joint Petroleum Development Area, North West Shelf and Queensland CSG projects. He also has extensive experience in advising on income tax matters in respect of resource projects located overseas. Carlo has dedicated experience in the provision of international tax advice from different jurisdictions, including cross-border royalty and service issues, international tax planning, tax-effective funding and transfer pricing. His industry experience includes a 12 month secondment to a major energy company as in-house Tax Director.

Rod Henderson is a Tax Partner with KPMG’s Sydney office. Rod has over 25 years of taxation consulting experience servicing a range of Australian and international companies and has many years of experience in providing day-to-day tax assistance to resource companies literally at the “coal face”. Rod has worked on

numerous M&A transactions in the energy and natural resources sectors and has helped companies from the ASPAC region, and globally, structure investments in Australian resource projects. Rod works closely with KPMG’s ENR tax network to assist companies across the ASPAC region including China, Japan, Korea, India, Thailand, Indonesia, Mongolia, Malaysia and Singapore. Rod also advises clients on the impact of the proposed Mineral Resource Rent Tax and the expanded PRRT, and is a member of the Australian Taxation Office’s Resource Rent Tax Consultation Subcommittee.

Ian Murray is an Assistant Professor and member of the Centre for Mining, Energy and Natural Resources Law in the Faculty of Law at the University of Western Australia where he teaches in Taxation, Corporations and Company Law and researches in the areas of Resources Taxation and Not-for-Profit Law. He is also a consultant at Ashurst Australia. He has a number of years’ experience as a practitioner in relation to corporate tax and has advised on energy and resource industry tax issues, regulated and unregulated mergers and acquisitions, fundraising and inbound investment. In particular, he has been extensively involved in the taxation issues arising under native title agreements.

Edwin Vanderbruggen, formerly with Loyens & Loeff and a partner at DFDL, has 20 years of experience as a tax lawyer, academic, author and government adviser. He has worked in Southeast Asia for 15 years and has assisted with structuring some of the largest acquisitions, investments and property deals in the region, including the US$4.2B petrochemical plant of SCG Chemical in Vietnam, the US$425M Mobitel acquisition in Singapore and Cambodia, and the US$275M listed property fund JSM Indochina. Edwin has taught international tax law at six different universities in Europe and Asia, including delivering a number of lectures at the prestigious International Tax Center in Leyden. He was an adviser to the Minister of Economy and Finance of Cambodia, provided training on tax issues to government officials in a number of Southeast Asian countries, and has supplied expert testimony to tax courts on tax treaty interpretation. Edwin has consulted for the World Bank and the ADB on tax policy and administration.

Presenter PrOfILesAn overview of our experts

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venue and accOmmOdatIOn?

Hyatt Regency Perth 99 Adelaide Terrace, Perth, Western Australia Tel: +61 8 9225 1234 Fax: +61 8 9325 8899

Situated close to the central business district in the East Perth area, the Hyatt Regency Perth hotel is located just metres from the majestic Swan River. Positioned on Adelaide Terrace, close to the historic St. Georges Terrace and Murray Street, the Hyatt Regency is convenient to the many city attractions including art galleries, boutiques and the world famous WACA cricket ground. The hotel is a 20 minute drive from Perth’s international and domestic airports.

The Hyatt Regency offers 367 luxury rooms which boast great views of Perth city and the Swan River. Guests are invited to enjoy superb cuisine and elegant surroundings at the numerous dining hotel outlets.

The Tax Institute has negotiated favourable room rates starting at $445/night for a Deluxe King or River View King room for conference delegates. Please contact the hotel on 131234 to book and quote BQST to receive the special rate. All accommodation payments should be made directly to the hotel. Please refer to the hotel for their cancellation policy.

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Confirmation of RegistrationOn receipt of registration and payment you will receive an email containing your confirmation letter and tax invoice.

Delegate ListA delegate list will be included in the delegate folder to assist with networking. Please indicate on the registration form if you do not want your name included on the list.

Dietary RequirementsPlease indicate any special dietary requirements on your registration form.

Dress Code Business casual clothing is suitable for the duration of the conference.

Getting to the Hyatt Regency PerthDirections can be found on the hotel’s website at http://perth.regency.hyatt.com/ under Guest Services.

Professional Development AccreditationAttendance at this conference counts for 4.75 CPD hours with The Tax Institute.

WeatherNovember in Perth is generally sunny and warm with temperatures ranging from 24-27 degrees in the daytime and 12-15 overnight.

Alteration and Cancellation Policy The Tax Institute reserves the right to alter, amend or cancel all or any of the arrangements contained in the program. It is a condition of registration that an administration fee of 20% of the registration fee will be charged for cancellation by delegates. Cancellations must be received in writing by The Tax Institute at least five working days prior to the event. No refund will be given for cancellations received within five working days of the event, however a replacement may be nominated.

The Tax Institute cannot accept responsibility for delegates’ late transport arrivals or non-arrivals due to delays.

The Tax Institute reserves the right to alter any part of the program at any time without notice.

Questions?Please contact Jessi Towns at The Tax Institute on +61 2 8223 0035.

Perth Attractions

Perth Restaurant Suggestions

C RestaurantSt Martins TowerLevel 33, 44 St Georges Terrace, Perth +61 8 9220 8333www.crestaurant.com.au

Greenhouse Perth100 St Georges Terrace, Perth+61 8 9481 8333www.greenhouseperth.com

Lamont’s Bishops House90 Mounts Bay Road, Perth+61 8 9226 1884 www.lamonts.com.au/venues

Nine Mary’s16 Milligan Street, Perth+61 8 9226 4999www.ninemarys.com.au

The Aviary1/140 William Street, Perth+61 8 9226 0259www.theaviaryperth.com.au

The George216 St Georges Terrace. Perth+61 8 6161 6662www.thegeorgeperth.com.au

Restaurants listed are suggestions only and The Tax Institute/CIOT cannot be held responsible for food quality or service levels experienced.

Perth Test Match, Australia v South AfricaFriday 30 November to Tuesday 4 December 2012

The WACA Ground will host Australia vs. South Africa in the third Test match from Friday 30 November to Tuesday 4 December 2012.

The last time these two sides met at the WACA Ground was the enthralling contest in December 2008 which saw the Proteas chase a record fourth innings total of 414 to claim a six wicket victory.

To book tickets visit ticketmaster.com.au or call 1300 136 122.

furtHer InfOrmatIOnWhat, when and how to

Registration

The Tax Institute member AUD $550

CIOT member AUD $550

Non-member AUD $660

Dietary requirements: Promotional code: Date of issue: 26 October 2012

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Inward and Outward Resources Investment 1121147M1/WD 29 November 2012

reGIstratIOn taX InvOIceThis document will be a tax invoice for GST on completion and payment. Please retain original copy for your records. Please photocopy for additional delegates. All prices quoted include GST. ABN 45 008 392 372

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ReplacementsPlease note: Registrations for the event are not interchangeable but replacements are acceptable. Please notify us at least two days prior if you intend on sending a replacement. CPD hours will be allocated to the designated attendee. If the replacement is not a member, the non-member registration fee will apply.

CancellationsThe Tax Institute must receive cancellations in writing five working days prior to the seminar. No refund will be given for cancellations received within five working days of the event. A replacement may be nominated. Further details on The Tax Institute’s cancellation policy can be found at taxinstitute.com.au.

For event enquiries please contact Jessi Towns on +61 2 8223 0035 or nationalevents@taxinstitute.com.au..