Pakistan

Overview of CbC reporting requirements

First reporting fiscal year: Commencing on or after 1 January 2016

Consolidated group revenue threshold: EUR 750 million

Filing deadline: 12 months following the end of the reporting fiscal year

Local filing required: Yes, for reporting fiscal years commencing on or after 1 January 2017

Surrogate parent entity filing permitted: Yes

First review of the domestic legal framework: 2017/2018

Summary of recommendations

Area of implementation	Recommendations for improvement
Domestic legal and administrative framework	It is recommended that Pakistan clarify that the annual consolidated group revenue threshold calculation rule applies in line with the OECD guidance on currency fluctuations in respect of an MNE Group whose Ultimate Parent Entity is located in a jurisdiction other than Pakistan.
Exchange of information framework	It is recommended that Pakistan take steps to implement processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. It is recommended that Pakistan introduce changes to ensure missing or incomplete information will be identifiable in advance of exchange.
Appropriate use	None.

The domestic legal and administrative framework

It is recommended that Pakistan clarify that the annual consolidated group revenue threshold calculation rule applies in line with the OECD guidance on currency fluctuations in respect of an MNE Group whose Ultimate Parent Entity is located in a jurisdiction other than Pakistan.

The exchange of information framework

It is recommended that Pakistan take steps to implement processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. This recommendation remains in place since the 2018/2019 peer review.

Pakistan notified some late exchanges of CbC reports, due to a technical issue with their portal. This has now been fixed and so no recommendation has been made.

Peer input was received for Pakistan about missing or incomplete information in CbC reports sent to another jurisdiction. It is recommended that Pakistan introduce changes to ensure missing or incomplete information will be identifiable in advance of exchange.

Appropriate use of CbC reports

Pakistan confirms that its rules have not changed and continue to be applied effectively. Pakistan continues to meet all terms of reference.