[World Tax News] Panama | Pakistan | Philippines Announce Key Tax Updates
- Blog|News|International Tax|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 26 July, 2025
Latest from Taxmann
Editorial Team – [2025] 176 taxmann.com 790 (Article)
World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week:
1. Panama revokes longer timeframes for amending tax treaty benefit claims
On 16 July 2025, Panama published Resolution No. 201-5822 dated 10 July 2025 in Official Gazette No. 30323. This resolution repeals Resolution No. 201-2232, issued on March 16, 2023, which governed the process for requesting extensions related to claiming tax treaty benefits.
Under the now-repealed Resolution No. 201-2232, taxpayers were permitted up to three separate two-month extensions to submit or rectify missing documentation required for accessing treaty benefits.
With the issuance of Resolution No. 201-5822, the extension period has been significantly reduced. Taxpayers are now granted an initial 10-day extension, which may be further extended up to a maximum of 30 days.
Source – Official Gazette No. 30323
2. Google exempted from Pakistan’s new Digital Presence Proceeds Tax (DPPT)
As per recent reports, Pakistan’s Federal Board of Revenue (FBR) has issued a communication to Google stating that the company will not fall within the scope of the newly introduced Digital Presence Proceeds Tax (DPPT).
Introduced through the Finance Act, 2025, the DPPT imposes a 5% tax on the provision of goods and services by vendors having a significant digital footprint in Pakistan. However, since Google operates through a registered branch office in Pakistan and qualifies as a tax resident, it is exempt from the application of DPPT. Specifically, the tax does not apply to payments for digitally ordered goods where such payments are effectively linked to a Pakistani branch and the goods are supplied from within the country.
Similarly, the DPPT does not cover payments for digitally delivered services that are received in Pakistan and provided through a local branch office.
Source – Finance Act 2025
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
