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JOINT SESSION OFINDIA AND USA BRANCHES OF

INTERNATIONAL FISCAL ASSOCIATIONAND

INTERNATIONAL TAX CONFERENCE

January 23-25, 2006

Hotel Taj Palace, New Delhi, India

Dear friends,

We, at the India Branch of International Fiscal Association, are honored to host the

joint session of IFA, India-US Branches and International Tax Conference on January 23

- 25, 2006 at New Delhi, India, focussing comprehensively on tax issues relating to cross

border investment, trade and services. We acknowledge the initiative for this meet

taken by the IFA-USA Branch.

The conference is open to IFA members and non-members. For those who are not yet

members of IFA, we may state that the IFA is the only world-wide representative body

of tax professionals, corporate finance and tax managers, tax administrators and

academicians. Its headquarters are at Rotterdam, Netherlands. India hosted 51st

World Congress of IFA in 1997, which was attended by nearly 1400 delegates from all

parts of the world. The US Internal Revenue and Indian Revenue Services are members

of IFA and will actively participate in the joint session and the conference.

You and your colleagues are invited to join the conference. We promise it will be a

great opportunity and unique platform for tax professionals to share their

experiences and learning.

The scientific agenda of the conference, details of networking opportunities, social

programme for delegates and partners, registration forms are in the accompanying

pages.

We look forward to seeing you.

Warm Regards

OP VaishConference ChairmanHony. President, IFA India Branch

Joint Session of India -USA BranchesAnd

International Tax Conference

Time Particulars

1500-1630 Joint meeting of the ExecutiveCommittees of IFA USA-IndiaBranches

1630-1700 Registration

1700-1715 Opening and Welcome remarks,Invocation, Lighting of the lamp.

1715-1720 Address by Chairman - IFA,India

1720-1725 Address by Chairman - IFA, USA

1730-1800 Inaugural Address

1800-1820 India economic update andtrends

Guest of Honour

1820-1920 Moderator

Comparative discussion of keyaspects of the Indian and USAtax systems both from astructural and administrativestandpoint.

1920-1945 A d d r e s s b y C h a i r m a n ,Permanent Scientific Committee,IFA

1945 Cocktails and dinner

2030 Address by the Dy. Chief ofMission, Embassy of USA inIndia*

* Invited

Tentative Scientific AgendaJoint Session of India and USA Branches of IFA and

International Tax ConferenceJanuary 23-25, 2006

Hotel Taj Palace, New Delhi, India

Monday, January 23, 2006

Speaker Format

O P Vaish, Senior AdvocateJim Tobin, E&YMukesh Butani, BMR &Associates

Roger Wheeler, GeneralMotors Corporation

T P Ostwal

Hon’ble Law Minister*

Adit Jain, IMA

Jairaj Purandare, PwC

Prof. Jean Pierre Le Gall

Robert O. Blake

Two 20 minutepresentationsfollowed by 20minute paneldiscussion

USA-Pam Olson, SkaddenArps, Slate, Meagher &Flom LLP

India- Gaurav Taneja, E & YSudhir Kapadia, KPMG

Mukesh Butani, BMR &Associates

USA-Bob Green, Director,International LMSB,Internal Revenue Service,Carol Dunahoo, Baker &McKenzie LLP

2 technicalpresentationsfollowed by paneldiscussion

Tuesday, January 24, 2006

Speaker FormatTime Particulars

Ist Technical Session TransferPricing

Moderator

0930-1100 Transfer pricing outsourcing /shared service centers

• Ind ia USA approachcomparison

Dr. P Shome, Advisor to FM

Speaker Format

India-Srinivasa Rao, E & YRupak Saha, GEV K Mangotra, IndianRevenue ServicePorus Kaka, Advocate

Shyamal Mukherjee, PwC

USA- Sam Maruca, Miller& ChevalierSteven Hannes, Mcdermott,Will & Emery

India - Samir Gandhi,Deloitte Haskins & SellsH. Srinivasalu, Commissionerof Income Tax, IndianRevenue Service

Jim Tobin, Ernst &Young LLP

USA- Jim Fuller, Fenwick& West LLPSimon Beaumont, IBMPeter Barnes, GeneralElectric Company

Ajay Vohra, VaishAssociates

USA- Peter Barnes, GECharles Cope, KPMG LLPJohn J Merrick, SpecialCounsel to the AssociateChief Counsel(International)

India- Dinesh Kanabar,RSM & Co.Pramod Kumar, Member,Income Tax Appellate Tribunal

Short technicalpresentationsfollowed bypanel discussion

Interactivepresentationfollowed bypanel discussion

• PE issues

• Created intangibles / USAproposed service regulations

1100-1130 Tea break

Moderator

1130-1300 Transfer Pricing- Othertransactions– Royalties– Tangible goods– Loans

Controversy Issues– Penalties– Appeal Procedures– Competent Authority

1300-1400 Lunch break

Moderator

1400-1530 Structuring US Investment intoIndia

– Holding structures

– Debt Equity

– Cross border finance issues/planning

– Licensing Issues

– Repatriation Planning

1530-1600 Tea break

Moderator

1600-1730 Tax Treaty Issues

– Analysis of USA-India Treaty

– Practical Issues in Operation

– A d d i t i o n a l I s s u e s f o rResolution

IInd Technical Session -India-USA Tax Treaty

2 technicalpresentationsfollowed by paneldiscussion

Wednesday, January 25, 2006

Date Particulars

IIIrd Technical Session -Indirect Tax

Session Moderator

0900-1100 Indirect Tax

– Features of recent VAT inIndia with reference tosupply chain

Gautam Doshi,ADA Enterprises

USA-Peter Zubrin, GM’sRegional Customs Counselfor Asia / PacificJim Fitzgerald, Dell

Technicalpresentationsfollowed by Q & Aafter eachindividual topic -USA speaker toadd practicalcommetnary

India-Shefali Goradia,Nishith Desai AssociatesKetan Dalal, RSM & Co.Rupesh Jain, VaishAssociatesSunil Kothare, Citibank

Justice Quadri, Authorityfor Advance Ruling

Roger Wheeler, GeneralMotors Corporation

USA- Phil West, Steptoe &Johnson LLPJeffrey Levenstam, Ernst &Young LLP

India- Sanjiv Chaudhary,KPMGVijay Mathur, MPCConsultants Pvt. Ltd.,Retd. IRS

Singapore- Gurbachan Singh,Khattar Wong & Partners

Bobby Parikh, BMR &Associates

USA- Oscar Teunissen /Puneet Arora, PwC LLPLawrence Zlatkin,GE Corporate Tax

India- Girish Dave, IndianRevenue Service

Mauritius- Uday Gujadhar,Multiconsult

USA- Roger Wheeler,General Motor CorporationJohn J Merrick, SpecialCounsel to the AssociateChief Counsel (International)Jim Tobin, Ernst & Young LLP

India- B M Singh, IndianRevenue ServiceD P Sengupta, Indian RevenueServiceRahul Garg,PricewaterhouseCoopers

Dr. P. Shome, Advisor toFinance Minister

O. P. Vaish, Senior Advocate

Presentations byIndia speakersfollowed by Paneldiscussion

Panel discussion

Panel discussion

– Recent changes in service taxwith particular reference toexclusion of export servicesand opportunity for servicetax credit maximization

– Trends in FTAs and impact onimport tariff

1100-1130 Tea Break

Guest of Honour

Session Moderator

1130-1315 Recent Treaty Trends

– Singapore

– Mauritius

– UAE

– Other

Impact for USA Investors

– Both multinationals andfinancial investors privateequity and mutual funds

1300-1400 Lunch

Session Moderator

1400-1515 Panel discussion on FinancialMarkets industry to debate onFII taxation, derivatives, privateequity and venture capital firms

Guest of Honour

Session Moderator

1515-1630 Panel discussion on importantpractical issues of tax policy, taxa d m i n i s t r a t i o n a n denforcement.

IVth Technical SessionRecent Treaty Trends

Vth Technical Session- TaxChallenges - Financial ServicesIndustry

Concluding Session

India- S Madhavan, PwC(VAT)Rajeev Dimri, BMR &Associates (Service tax)Sridhar, GSK (FTA’s)

Broad contents of technical sessions

1. 1st Technical Session on Transfer Pricing - Part I

2. 1st Technical Session on Transfer Pricing - Part II

3. 2nd Technical Session on India-US Tax treaty - Part I

4. 2nd Technical Session on India-US Tax treaty - Part II

5. 3rd Technical Session - Indirect Tax

The outsourcing of business processes to India has grown by leaps and bounds in the

past decade. Various models for outsourcing are being followed which have a

significant tax impact on the entity carrying out the outsourcing processes in India

and its US parent/client. The Indian Revenue authorities have issued certain

clarifications and guidelines in this regard. The tax aspects involve determination of

complex issues such as attribution of profit on an arms' length basis, PE creation and

development of intangibles etc. There is need for clarity on several aspects,

particularly in light of the India-US Tax treaty, proposed US transfer pricing service

regulations, tax efficient practices etc.

Transfer pricing regulations were formally legislated in India by the Finance Act,

2001. The Indian Revenue authorities have concluded the first set of audits. The

experience gained in the process by corporates, tax professionals and the Revenue

authorities would be of immense use and will help shape future planning of

international transactions and documentation to minimize litigation and work

towards standards acceptable to the tax payer and the Revenue. Transfer pricing of

non-routine transactions such as loans, technology licensing arrangements have

became a bone of contention in recent audit experience. The session will focus upon

sharing of audit experience, controversy aspects in relation to the administrative

appeal process, resolution under the Mutual Agreement Procedure (MAP) and related

penalties for non compliance.

Investment into India requires careful structuring to minimize the tax burden of the

investor by availing of the benefits available under the present Tax treaty between the

two countries. Planning and structuring various streams of Revenue from Indian

subsidiaries coupled with need to maximize repatriation strategies are important

considerations. Appropriate classification of such streams of income and suitable

credits in US are challenges typically faced by US MNC's. Credibility of Indian

Dividend Distribution tax under the US domestic law and treaty has been a

contentious issue. The liberalisation of the Indian economy and increased confidence

of US investors has led to a steady rise in cross border financing arrangements. With

Indian corporates investing in the US, financing by Indian holding companies of their

US subsidiaries is gaining significance. Such cross border financing entails

arrangements such as leasing, derivatives, hybrid structures etc., which have tax

implications under the domestic laws of both countries and the treaty.

India's Tax treaty with US was signed in 1989 after negotiations that lasted over 25

years. It is a comprehensive document with explanations and case studies. Over the

years, several aspects of the treaty relating to principles of attribution of income of PE

and characterization of income have come up for debate. Certain aspects have been

adjudicated in the appellate process and others have been resolved through the MAP.

The Indian competent authority has the largest number of MAP issues relating to the

India-US Tax treaty. The discussion on various aspects of treaty will highlight the

areas in which change in the present treaty is required, which will serve as a basis for

future negotiations.

Introduction of VAT on April 1, 2005 is labeled as mother of all tax reforms in post

independence era. The new scheme of taxation has significant impact on the cost

structure wherein successive sale transactions attract duty. An understanding of the

scheme and transition roadmap to full fledged GST system is crucial for doing

business in India. VAT would entail change in supply chains of all organizations and

could possibly be used as means to achieve cost competitiveness and enhanced

efficiency.

Given that the growth of services sector continues to outperform other sectors of the

Indian economy, service tax is gaining importance as a revenue raising tool. Service

tax is presently levied on the value of roughly 80 services with suitable input credit

mechanism and its scope is getting wider. The Government has recently notified

Export of Services Rules, 2005. The session will focus on maximization of credit set-

off, especially in light of availability of CENVAT credit.

The dynamics of global trade and opportunities provided by the multilateral trading

platform necessitate a continuous realignment of international trade strategies,

priorities and the legislative framework. India launched fresh initiatives for

concluding FTA's with several countries. India has concluded FTA's with Sri Lanka,

Thailand and recently, India signed a Comprehensive Economic Cooperation

Agreement (CECA) with Singapore. India is at advanced stage of negotiations with

Mauritius and working on strategic broad pacts with Japan, China, South Korea and

the ASEAN. Such pacts would increase cross-border business and open

opportunities for US based corporations to benefit from such bilateral/ multilateral

arrangements through regional holding companies.

The political and economic ramifications of changing trends in cross border treaties

are important considerations for global investors. Structuring investment into India

requires an adequate understanding of tax concessions and credits available through

different modes of channeling such investments. The focus on the recent

Comprehensive Economic Co-operation Pact with Singapore seems to have taken off

some of the gleam in taking the Mauritius route to invest into India, despite the Indian

federal Courts decision on the Mauritius treaty. Further, US investors have been

closely viewing the changes and evaluating other options. Some of the options

considered by US investors include use of Cyprus, Singapore treaties. In this context,

it is important to review the current scenario regarding investor-friendly routes to

investing in India and taking note of future expectations.

With India's ongoing reforms in the area of financial services, in general and banking

industry in particular, US investors are likely to keep a close watch on developments.

Tax challenges for a variety of players in the financial services industry cannot be

undermined. Audit experiences for significant US based banks, characterization of

capital gains by FII's, taxability of derivatives, sub-accounts maintained by FII's, role

of domestic custodians, structuring venture capital and private equity investments

are most debated topics. It is important to get perspectives about challenges faced by

the various FSI players.

In this final session, we will invite our panelists comprising the government, industry

and professionals for a wide-ranging discussion on the tax structure and policy

implications of recent economic developments in US and India. This is an interactive

session aimed to achieve the following objectives:

6. 4th Technical Session - Recent Treaty Trends

7. 5th Technical Session Tax challenges - Financial Services Industry

8. Concluding Session

* Key learnings and experiences of Indian subsidiaries of US MNCs

* Serve as objective inputs to guide policy makers and new treaty negotiations

* Feedback from US and Indian government nominees

Social Program Overview

Monday, 23rd January, 2006

Tuesday, 24th January, 2006

Half Day Tour of New Delhi(Delegates and Accompanying persons)

Visit to KAARU Crafts Museum and Sanskriti Kendra(Accompanying persons only)

TIMING: 1000 - 1400 HRS. DURATION: 4 HOURS


New Delhi:

In sightseeing of New Delhi,

The city planned for the British by Lutyens is set in parks

and shaded avenues with wide boulevards that offer ever-changing

perspectives of its Victorian past. The majestic grandeur of Rajpath

forms a fitting backdrop for the colorful, annual Republic Day

Parade. It is surrounded by the buildings of the Government such as

the Parliament House, the President’s House and the Secretariat

Buildings at one end and the Imperial India Gate Memorial at the

other end.

we will take you to visit Humayun’s

Tomb, aptly called predecessor of Taj Mahal, built by Humayun’s

widow. Qutab Minar, an 11th century victory tower that rises to a

height of 73 meters. Drive past Government buildings, Rashtrapati

Bhawan, India Gate and Parliament House.

Lunch at Laziz Affair.

GALA DINNER AT TAJ PALACE

Start your day with a cup of coffee at KAARU. Experience the unique

collaboration of designers from rural and urban India and

indigenous artisans from across the country. Craft a piece of art

yourself to take back a memento.

The Sanskriti Kendra, a contemporary cultural complex is spread

over seven acres with 12 residential studios for artists from around

the globe to live and work in harmony with nature. It houses three

unique museums, Museum of Everyday Art, Museum of India

Terracotta and Museum of India Textiles. The complex is set in lush

greenery amid fragrant shrubs, birds and butterflies.

Lunch at the Sanskriti Kendra

EVENING THEME DINNER AT MAYFAIR GARDENS

Social Program Overview

Wednesday, 25th January, 2006

Thursday, 26th January, 2006

Friday, 27th January, 2006 - Sunday, 29th January,2006

Half Day Tour of Old Delhi(Accompanying persons only)

Viewing Republic Day Parade (Half Day)(Delegates and Accompanying persons)

Visit to Lotus Temple and Interfaith Service(Delegates and Accompanying persons)

GOLDEN TRIANGLE TOUR (Optional)(Delegates and Accompanying persons)




Old Delhi:

In sightseeing of Old Delhi,

Explore the gracious Red Fort overlooking the Jama Masjid (thelargest mosque in India) and the crowded old Bazar, Chandni Chowk, of theerstwhile Mughal period.

we will take you to visit Jama Mosque, anarchitectural extravaganza of Shahjehan, Red Fort, a fort that containswithin it palaces and impressive public buildings, delicately carved inlaidand marbled Royal Chambers. There will be a stop at Raj Ghat, whereMahatma Gandhi was cremated.

Lunch at Chor Bizzare.

Every year on January 26th people line up in millions to watch the RepublicDay Parade, which starts early in the morning and continues for about 2hours. Among the visitors are the members of the Parliament, CabinetMinisters and various heads of States. The President of India takes thesalute on Rajpath as marching columns from the armed forces, tanks andmissile carriers rumble past. Camels and elephants sway along, schoolchildren turn cartwheels and transform the solemn occasion into a carnival.

An important landmark on the South Delhi skyline, the Lotus Temple isshaped in the form of an opening Lotus flower. It is believed that allreligious faiths teach compassion, sacrifice, purity and tolerance. The visitto the monument will be accompanied by a brief interfaith servicefollowed by Lunch.

(Back in Delhi by 2000 hrs on 29th Jan)

Cost: USD 675 in a double room (for 02 persons)

USD 620 in a single room (for 01 person)

Travel to the exotic city of Jaipur. Jaipur presents the palette of the Orientwith colorful people and its vibrant Rajasthani traditions - anunforgettable experience. From Jaipur, drive to Agra, via Fatehpur Sikri,the abandoned capital. In Agra enjoy the timeless wonder of the livingsymbol of love, the Taj Mahal. The magnificent monuments await you, andyou can experience the glory of the bygone Mughal Empire.

The Golden Triangle Tour will introduce you to the cultural richness of three magnificent cities - Delhi, Jaipur and Agra -and include a memorable visit to the Taj Mahal. Note that the Taj Mahal is closed on Friday 27th January and this tourhas been organized around that closing. For details please visit www.tciconferences.com/ifa/newdelhi2006.htm

Registration Form

JOINT SESSION OFINDIA AND USA BRANCHES OF THE

INTERNATIONAL FISCAL ASSOCIATIONAND INTERNATIONAL TAX CONFERENCEJanuary 23-25, 2006 • Hotel Taj Palace, New Delhi, India

REGISTRATION FORM (for Participants from India only)

I will attend the Joint Session of the India and USA Branches of the International Fiscal Association, tobe held January 23-25, 2005 at The Hotel Taj Palace, New Delhi, India.

Name : _________________________________________ Affiliation: __________________________________

Mailing Address : ____________________________________________________________________________

City/State/PIN: _______________________________________________________________________________

Phone : _____________________ Fax: ______________________ Email: ________________________________

Accompanying Person: _______________________________________________________________________

I enclose a payment in the amount of Rs. ________________ which represents:

Non-member registration

Registration fee: Payment Received on Payment Receivedor before Dec. 31, 2005 after Dec. 31, 2005

Rs. 17,000 Rs. 18,500

IFA member registration* q q

q q

Rs. 15,000 Rs. 16,500

20% group discount will be given to 3 or more participants from the same organization.

The Accompanying Person fee includes the Dinner functions on January 23 and 24 and specialprograms organized on the sidelines of the conference. The fee includes visits to places of historicalinterest, art galleries and museums, heritage walks and shopping tours for handicrafts jewelry andtextiles and the 26 January Republic Day Parade.

Cheque: made payable to “Travel Corporation India(Pvt.) Ltd.” and payable at New Delhi

Credit Card (record number below) Visa Master Card American Express

Signature: ____________________________

Card No.: __________________________________ Expiry Date _______________________________________

Contact Person: G.V.R. ShastriTravel Corporation (India) Pvt. Ltd.504-505, New Delhi House, Barakhamba Road, Tel: + 91-11-23315834-38; Fax: + 91-23316705New Delhi 110 001, India E-mail : [email protected]

Note : Refund is subject to a Rs. 1,200 processing fee and must be received in writing at the aboveaddress on or before Dec. 31, 2005.

The registration fee includes the refreshment breaks and lunch on 23 , 24 and 25 January, the Dinner on 23 and24 January. It also includes the social program on 23 January as well as the 26 January Republic Day Parade.

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*IFA Membership No. _________________________

Membership subscription of IFA India Branch is Rs. 4,000 per annum. The discounted rate ofconference registration fee will be available to new IFA membership subscribers.Note:

Rs. 9,000Accompanying person fee:

Payment made by :

q

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q

q q q q

Return completed registration form with your remittance to :

You can also register yourself for the conference through online registration form.Please visit us www.tciconferences.com/ifa/newdelhi2006.htm

Registration Form



REGISTRATION FORM (for Participants from outside India only)

I will attend the Joint Session of the India and USA Branches of the International Fiscal Association, tobe held January 23-25, 2005 at The Hotel Taj Palace, New Delhi, India.

Name : _________________________________________ Affiliation: __________________________________

Mailing Address : ____________________________________________________________________________

City/State/Zip/Country: _______________________________________________________________________

Phone : _____________________ Fax: ______________________ Email: ________________________________

Accompanying Person: _______________________________________________________________________

I enclose a payment in the amount of $ ________________ which represents:

Non-member registration

Registration fee: Payment Received on Payment Receivedor before Dec. 31, 2005 after Dec. 31, 2005

$745 $845

IFA member registration* q q

q q

$595 $695

20% group discount will be given to 3 or more participants from the same organization.

*IFA Membership No. _________________________

Membership subscription of IFA USA Branch is USD 130 per annum. The discounted rate ofconference registration fee will be available to new IFA membership subscribers.

The Accompanying Person fee includes the Dinner functions on January 23 and 24 and specialprograms organized on the sidelines of the conference. The fee includes visits to places of historicalinterest, art galleries and museums, heritage walks and shopping tours for handicrafts jewelry andtextiles and the 26 January Republic Day Parade.

The registration fee includes the refreshment breaks and lunch on 23 , 24 and 25 January, the Dinner on 23 and24 January. It also includes the social program on 23 January as well as the 26 January Republic Day Parade.

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Note:

$395Accompanying person fee:

Payment made by :

q

th

q

q q q q

Cheque: made payable to “Travel Corporation India(Pvt.) Ltd.” and payable at New Delhi

Credit Card (record number below) Visa Master Card American Express

Signature: ____________________________

Card No.: __________________________________ Expiry Date _______________________________________

Contact Person: G.V.R. ShastriTravel Corporation (India) Pvt. Ltd.504-505, New Delhi House, Barakhamba Road, Tel: + 91-11-23315834-38; Fax: + 91-23316705New Delhi 110 001, India E-mail : [email protected]

Note : Refund is subject to a US$ 50 processing fee and must be received in writing at the above addresson or before Dec. 31, 2005.

Return completed registration form with your remittance to :

You can also register yourself for the conference through online registration form.Please visit us www.tciconferences.com/ifa/newdelhi2006.htm

Hotel Registration Form



Please fill this form in CAPITAL letters and send / fax it back to

G.V.R. ShastriTravel Corporation (India) Pvt. Ltd.504-505, New Delhi House, Barakhamba Road, New Delhi 110 001, IndiaTel: + 91-11-23315834-38; Fax: + 91-11-23316705

DELEGATE Mr. Ms.

________________________________________________________________

q q

Name:

FAMILY NAME FIRST NAME MIDDLE NAME

Affiliation:

Mailing Address:

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

City State PIN: _______________________________________________________________________

Phone: ________________ Fax: __________________ Email: __________________________

Room Category Rate applicable (USD) Per Day

Single occupancy Double occupancy

Superior rooms

Deluxe rooms

Club rooms

Deluxe

Standard

225+taxes 250+taxes

250+taxes 275+taxes

280+taxes 305+taxes

170 + taxes 185 + taxes

115+taxes 130+taxes

Check in Date : ________________ Check out Date : __________________

Visa Master Card Amex

Card No. __________________________________ Expiry Date: ___________________________

Cardholder’s Name: ________________________ Cardholder’s Signature: ____________________

For the amount: __________________________ Date : ___________________

American Express Bank Ltd.

A Block, Hamilton House, Connaught Place, New Delhi - 110001 (INDIA)

Swift Code : AEIBINDX Account No. : 310354593

Beneficiary : Travel Corporation (India) Pvt. Ltd., New Delhi

Room Type Single Double

a) Credit Card

b) Bank Transfer

q q

q q q

Mode of Payment:

Kindly fill in the details and fax it to us at +91-11-23316705 / 23327468 along with a clear photograph of both sidesof credit card.

IMPORTANT! HOTEL RESERVATION : A block of rooms is available for registrants at a discounted conference rate at theConference Hotel. All registrants are requested to fax their accommodation requests to our official Event Manager at +91-11-23316705 or for online booking, please visit us at Unbooked roomswill be released for general sale after 2nd December 2005 and after that date the discounted conference rate will no longer beavailable to registrants. Please note the Hotel Accommodation can only be confirmed upon receipt of the total advancepayment. Rooms at Hotel Ashok and Samrat are subject to availability.

www.tciconferences.com/ifa/newdelhi2006.htm

Check in / Check out time is 1200 noon

Hotel

Taj Palace

The Ashoka

Samrat

New Delhi - Conference City

Delhi has seen the rise and fall of many empires which have left

behind a plethora of monuments that illustrate the grandeur

and glory of bygone ages. A city which traces its history to

Mahabharata, the great epic tale of wars fought between

estranged cousins, the Kauravas and the Pandavas for the city

of Indraprastha.

New Delhi, the capital of India, sprawled over the west bank of

the river Yamuna is one of the fastest growing cities in India. It

is surrounded on three sides by Haryana and to the east across

river Yamuna by Uttar Pradesh. Historically, the city has long

since been the foremost in political importance with successive

dynasties choosing it as their seat of power, between 13th and

17th centuries. Remnants of the glorious past survive as

important monuments in different parts of the city.

The myriad faces of the city are simply fascinating. In some places it remains a garden city, tree lined

and with beautiful parks, but in some places it can also be crowded with heavy traffic. Turbaned Sikhs,

colorfully dressed Rajasthani and Gujrati women, Muslim shopkeepers along Chandni Chowk in Old

Delhi, Tibetans and Ladakhis in the street stalls along Janpath and Kashmiris in the Handicraft emporia

around Connaught Place, all add to the cosmopolitan feel of the city. Soaring skyscrapers, posh

residential colonies and the bustling commercial complexes can be seen along with the ancient

historical monuments. Its boutiques and shopping arcades offer access to a wealth of traditional and

contemporary crafts from all over the country. Old Delhi, which looks entirely different from New Delhi

area, is about 6 km north of the city center.

TAJ PALACE, NEW DELHI - THE CONFERENCE VENUE

Taj Palace is one of the finest conference venues.

It is India’s (if not Asia’s) largest conference venue

with a total convention area of approximately

4,000 square feet. The convention hall has a

capacity of over 1000 guests.

The hotel offers modern aids including

simultaneous translation facility in 5 languages

for conferences and wireless broadband internet

access.

The Taj Palace has played host to numerous

heads of States, corporate moguls and high

profile businessmen from across the world.

Nestled in six acres of lush greens in the exclusive

diplomatic enclave of the City, the hotel is a 10

minutes drive from the city international Airport.

General Information

GENERAL INFORMATION

CLIMATE: Temperature - Minimum. 15°C, Maximum. 20°C

At the time of the conference, Delhi will be cold. Woolen clothing is

recommended.

: The main spoken language of India is Hindi. English is commonly used.

India lies five and a half hours ahead of Greenwich.

Electricity in India operates on 230-240V AC, 50Hz.

The currency of India is Rupee, which has 100 paise to it. The present

conversion rate is 1 US $ = Rs. 45.00 (approx) as on October 24, 2005.

Foreigners desirous of visiting India can do so after obtaining permission

in their country. They should possess a valid Passport. Visitors are

generally required to make an oral identification of their baggage and

foreign currency in their possession.

Valid Yellow Fever inoculations are necessary for all delegates coming

from or transiting through endemic Yellow Fever Countries.

Delhi has an excellent network of banking facilities provided by both

national and private banks. ATM Services are provided by many of them

throughout the city. Many hotels, restaurants and up-market stores

accept credit cards, mainly Visa, Master Card, Amex and Diners. Banking

Hours: Weekdays 10.00 a.m. to 2.00 p.m.; Saturdays till noon; Sunday

closed. Some private banks keep flexible hours.

Check in and check out time at the hotel is 12:00 noon. We expect the

month of January to be a peak tourist month, it is therefore advisable to

book your accommodation well in advance.

Tipping is entirely at your discretion. If you wish to do so 10% is

considered sufficient. Taxi drivers do not expect to be tipped but if you

want to give them any small change from your fare, it is perfectly

acceptable.

Delhi offers a kaleidoscope of India's arts and crafts. To save time and

unnecessary travel, study the map of Delhi and locate geographically the

various shopping areas.

CLOTHING:

TIME ZONE:

ELECTRICITY:

CURRENCY:

VISAS:

IMMUNIZATION:

BANKING, CREDIT CARD

AND EXCHANGE:

CHECK IN & CHECK OUT

TIPPING:

SHOPPING CENTERS:

LANGUAGE

TIME:

JOINT SESSION OFINDIA AND USA BRANCHES OF

INTERNATIONAL FISCAL ASSOCIATIONAND INTERNATIONAL TAX CONFERENCE

IFA India-International Fiscal Academy is a significant initiative of International Fiscal

Association - India Branch. Given the pace of integration of the Indian economy with the

global economy, the direction of India’s fiscal and tax reforms in the past few years have been

to align itself to global best practices. This has accentuated the need for an academic

institution to impart knowledge and training on international taxation. Further, the Academy

would undertake objective research and studies and act as a sounding board for the

government to shape future policies.

Currently, neither any independent body focuses on this subject nor any specialized courses

are offered at Universities in India. There is already need felt for capacity building within the

government and the corporate sector to handle complex cross border tax issues arising out of

emerging new technologies.

International Fiscal Association, which has been in existence for the past 60 years, has built a

reputation for scientific approach to complex tax issues and its studies and recommendations

have credibility with governments world over. The academy, we believe, will fill the void in

India and generate degree of teaming between the government and the tax payer.

The IFA US-India Joint Meeting and International Tax Conference, offers a unique

opportunity for professional services firms and corporates to participate in this

initiative through sponsorship support to this event.

Proposed Academy Building

IFA India - International Fiscal Academy

Hotel Taj Palace, New Delhi, IndiaJanuary 23-25, 2006

IFA India-USA Joint Sessionand International Tax Conference

Conference ChairmanO. P. Vaish

Honorary President, IFA India Branch

Conference Conveners

IndiaMukesh Butani

USAJim Tobin

Conference supported byAmerican Chamber of Commerce in India

US-India Business CouncilIndo-American Chamber of Commerce

(AMCHAM)(USIBC)

(IACC)

Conference AdvisoryCommittee

Conference Organizing Committee

India USA

Local Hosts-IFANorthern India Chapter

Ajay Vohra(Vaish Law)Ashok Wadhwa(RSM)B M Singh (IRS)Bobby Parikh (BMR)Dileep Choksi(Deloitte)Nishith Desai(Advocate)Rajiv Memani (E&Y)Rathin Datta (PwC)Roy Rohatgi(Professor)Sudhir Kapadia(KPMG)T S Krishnamurthy(IFA Academy)Zia Modi (AZB)

Ajay Bahl (AZB)Amrit Kiran Singh(AMCHAM)Anurag Jain (Vaish Law)Dinesh Kanabar (RSM)Ganesh Raj (E&Y)Gaurav Taneja (E&Y)Neeru Ahuja (Deloitte)O P Dani (IFA)Rahul Garg (PwC)Ramesh Bajpai(AMCHAM)Sanjiv Chaudhary(KPMG)S R Wadhwa(Advocate)T P Ostwal (Ostwal,Desai and Kothari)Vijay Mathur(IRS- retired)

Carol Dunahoo(Baker & McKenzie)Jim Fuller(Fenwick & West)Jim Tobin (E&Y)Peter Barnes (GE)Ron Somers (USIBC)

Ajay WadhwaA K SrivastavaGanesh RajNeeru AhujaPramod PatniRahul GargR L AhujaS C AgrawalS C ParijaVinod DhingraV P GuptaV P Verma

IFA India Executive Committee IFA USA Executive Committee

Ajay VohraAshok Kumar GoyalDhinal A ShahJairaj PurandareJitendra B SanghaviKetan DalalKuntal Jitendra DavePadamchand KhinchaPallav GuptaP K SahuPorus Farrok Kaka

Pradeep BhandariPradeep DinodiaPranav N SaytaP V S S PrasadRajesh V ShahSanjiv K ChaudharySohrab E DasturS R WadhwaSushil LakhaniT P Ostwal

Roger D. Wheeler,PresidentBrainard L. Patton, Jr.Carol A. DunahooDavid A. BerensonDavid J. RachofskyGerald T. BallGregory MayJeanne P. GouletJerome B. Libin

John F. NicolaiLarry R LangdonPeter A. GlicklichRichard L. DoernbergSanford H. GoldbergSteven J. CohenSteven P. HannesSusan F. KleinThomas H. GibsonWalter F. O'Connor

Conference web site: www.tciconferences.com/ifa/newdelhi2006.htm

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