World Tax News: Global Tax Updates – South Korea, Pakistan & Colombia

Editorial Team – [2025] 177 taxmann.com 261 (Article)

Introduction to World Tax News

World Tax News offers a concise weekly update on significant tax developments from different parts of the globe. These brief highlights provide a snapshot of important policy changes, legislative updates, and tax incentives shaping international economies.

South Korea’s 2025 Tax Proposals

South Korea has unveiled its 2025 tax proposals, placing strong emphasis on fostering innovation and economic growth. Key measures include introducing incentives to support artificial intelligence (AI) initiatives, implementing aspects of the OECD’s Pillar Two global minimum tax framework, and offering investment reliefs to encourage both domestic and foreign investment.

Pakistan’s Repeal of Digital Presence Proceeds Tax

In a significant policy change, Pakistan has officially repealed the ‘Digital Presence Proceeds Tax’ with effect from 1 July 2025. This move aims to simplify the tax regime for digital businesses operating in Pakistan and to align the country’s tax policies more closely with international practices.

Colombia’s Tax Benefits for Sports and Recreation

Colombia has enacted new tax incentives targeted at promoting sports and recreational activities. These benefits are designed to stimulate private investment in infrastructure and programs that enhance community engagement, healthy lifestyles, and the overall development of the sports sector.

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