Pakistan–MNE Tax

Asia-Pacific

Mauritania becomes 141st country to join global tax ‘Inclusive Framework’

November 4, 2021

The OECD Inclusive Framework gains another member, with the northwestern Africa country of Mauritania joining as the 141st member, according to a November 4 OECD release. Mauritania is also joining the October 8 global tax pact.

Asia-Pacific

Pakistan reportedly will be out an extra USD 150 million in tax revenues annually if it stays outside global tax deal, according to OECD estimates: Mehtab Haider / The News→

October 21, 2021

Africa

Global tax talks reach ‘critical mass’ for landmark deal by tweaking details

October 8, 2021

The historic October 8 agreement on a global minimum tax and new rules for allocating taxing rights for large multinationals both firms up issues left open in the initial July statement and reflects concessions that were made to bring into the deal a few new countries, including . . .

Africa

G-24 warns that global tax deal will fail without better terms for developing countries

September 21, 2021

An international tax agreement on new profit allocation rules and a minimum tax will “not be sustainable even in the medium run” unless the terms allow developing countries to see fair shares under both pillars of the deal, the G-24 contended in September 19 comments submitted . . .

Africa

US FDII deduction among international ‘harmful tax practices’ slated to be abolished

August 5, 2021

An update on reviews of preferential tax regimes published by the OECD on August 5 states that the US foreign-derived intangible income (FDII) regime is “in the process of being eliminated.” The new report includes updated conclusions with respect to 18 designated . . .

Asia-Pacific

Pakistan 2021-22 budget’s tax and economic measures: a friend or foe

July 6, 2021

Muhammad Khurram Shabbir, Ph.D. student, NUML Islamabad, discusses Pakistan’s budget, released on June 11, which cuts the capital gains tax, removes a series of withholding taxes . . .

Asia-Pacific

Sailing Pakistan’s IT exports through the winds of tax credits

May 18, 2021

Muhammad Khurram Shabbir, Ph.D. student, NUML, discusses Pakistan’s Federal Board of Revenue’s revelation of a proposal to give more tax concessions to the IT export sector . . .

Asia-Pacific

Germany and Pakistan deposit instruments of ratification for BEPS MLI with the OECD, joining 57 other countries; entry into force is April 1, 2021, for both countries: OECD→

December 21, 2020

Asia-Pacific

Pakistan income tax collection from services falls 20 percent in March: Shahnawaz Akhter / The News→

April 28, 2020

Asia-Pacific

Pakistan’s nonresident tax regime has been simplified to encourage long-term investment in debt instruments and government securities, SBP says: State Bank of Pakistan→

January 8, 2020

Africa

Switzerland’s Federal Council approves plan to exchange account data with 19 more country tax administration

May 30, 2019

Davide Anghileri of the University of Lausanne writes that Switzerland’s Federal Council adopted a dispatch yesterday approving the introduction of automatic exchange of financial account information with 19 more countries . . .

Asia-Pacific

Pakistan, Bulgaria sign tax treaty: Faisal Saeed / TechJuice→

May 22, 2019

Africa

Pakistan to reshuffle government office receiving master file, country-by-country reports; impose fines for nonfiling: Irshad Ansari / The Express Tribune→

January 29, 2019

Asia-Pacific

Pakistan’s Senate rejects government proposal to tax revenue from online activities including digital advertising: Mehtab Haider / The News→

May 7, 2018

Asia-Pacific

Pakistan: draft legislation introduces country-by-country reporting: Federal Board of Revenue→

June 8, 2017

Asia-Pacific

Hong Kong’s tax treaties with Latvia and Pakistan enter into force

November 27, 2017

Hong Kong’s Inland Revenue Authority on November 24 announced that tax treaties signed with Latvia and Pakistan have entered into force. Both treaties will enter into effect in Hong Kong for tax years beginning after April 2018 . . . .

Switzerland, Pakistan sign new tax treaty

March 22, 2017

Switzerland and Pakistan signed a tax treaty on March 21, Switzerland’s Federal Council . . .

Asia-Pacific

Pakistan, Hong Kong tax treaty enters into force

January 7, 2018

Pakistan’s government announced January 2 that a comprehensive tax treaty signed by Pakistan and Hong Kong entered into force on November 24, 2017. The Pakistan-Hong Kong tax treaty, signed February . . .

Africa

Multinationals asked to assess MAP tax dispute resolution in US, UK, Belgium, Canada, Netherlands, Switzerland

October 31, 2016

The OECD has today asked international business to report grievances about the mutual agreement procedure (MAP) for resolving cross-border tax disputes in the US, UK, Belgium, Canada, Netherlands, and Switzerland. The OECD seeks responses to a . . .

Asia-Pacific

Pakistan releases more draft amendments to country-by-country reporting rules for MNEs

February 12, 2018

Pakistan’s government on February 9 published more amendments to draft rules that establish transfer pricing documentation and country-by-country . . .

Asia-Pacific

Swiss, Pakistan tax treaty enters into force

December 3, 2018

A new tax treaty between Switzerland and Pakistan entered into force on November 29, the Swiss government . . .

Asia-Pacific

Pakistan publishes amendments to country-by-country reporting scheme

January 31, 2018

Pakistan’s Federal Board of Revenue on January 31 published amendments to draft rules that establish transfer pricing documentation and country-by-country reporting obligations on large . . .

Asia-Pacific

Draft Pakistani law requires banks to collect up to 3 percent tax on online purchases via credit/debit card to foreign sellers: The News→

April 30, 2018

Asia-Pacific

Pakistan signs multilateral agreement to fight tax evasion and avoidance

September 14, 2016

Pakistan today became the 104th signatory to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the . . .

Africa

Ireland, Ghana tax treaty signed

February 14, 2018

A new double tax treaty between Ireland and Ghana was signed on February 7, Irish Revenue today announced. Procedures are now underway . . .

Asia-Pacific

Pakistan’s president instructs government to implement tax reforms: The News→

January 10, 2018

Asia-Pacific

Hong Kong, Pakistan sign tax treaty

February 21, 2017

Hong Kong and Pakistan signed a tax treaty on February 17, the Hong Kong government has announced. This is the 37th tax treaty signed by . . .

Switzerland starts consultation on introduction of AEOI with 18 further states

December 11, 2018

Davide Anghileri of the University of Lausanne writes that Switzerland expects to soon introduce automatic exchange of financial account information with 18 more states and territories . . .

Africa

Ireland tax treaty update: agreements with Zambia, Germany, Luxembourg enter into force; pacts with Ethiopia, Pakistan ratified; new treaty with South Africa under negotiation

January 12, 2016

Ireland’s tax treaty with Zambia and protocols to tax treaties with Germany and Luxembourg have entered into force and effect, Irish Tax and Customs. . .

Asia-Pacific

Ireland and Pakistan sign tax treaty, text available

April 23, 2015

Ireland and Pakistan signed a tax treaty on April 16, Irish Revenue and Customs has announced. The agreement . . .

Khaled Al Zaabi on Spanish government proposes digital services tax: “We are seeking assistance with Digital Assets and International Tax Consulting to help Abu Dhabi UAE Oil Company navigate the…” October 24 ,2024

Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024

David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023

Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

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