On 9 February 2018, Pakistan's Federal Board of Revenue issued Notification S.R.O. 144(I)/2018 on amendments to Chapter VIA of the Income Tax Rules, 2002, which prescribe Pakistan's Master file, Local file, and Country-by-Country (CbC) reporting requirements ({News-2017-11-22/A/2-previous coverage}). The amendments are mainly in relation to CbC reporting and include:
- Clarification that constituent entities resident in Pakistan for the purpose of the CbC reporting rules include permanent est…