Azimuddin Law Associates

A contract is a promise or set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Any words or conduct by one or both parties that communicate a legally enforceable promise will constitute a contract.

FATF recommendations requires criminalization of money laundering through domestic legislation. The recommendations also provide to specify the scope of liability in relation to AML. The recommendations also requires that for prosecutorial authorities resources should be provided by member states.

Tax avoidance versus tax evasion has always been a hotly debated subject. The difference between tax avoidance and tax evasion is very narrow. Nowadays tax laws are being drafted in a manner to diminish the possibilities of tax avoidance though, yet tax planning offers many avenues to reduce tax liability. From this perspective, the study to differentiate between tax evasion and tax avoidance is interesting and noteworthy.

This paper seeks to discuss the hotly debated topic of customer identification program.

Among the community of nations, compliance with regard to AML/CTF is gaining importance as the global economic system is heading towards harmonization in many respects. International conventions and related measures are also playing their role in this regard. In the light of above, this paper examines, how China has progressed in the AML compliance regime.

In view of world wide economic integration, the international aspect of income taxation has become increasingly important. This note provides an introduction to the policies that countries seek to advance. The questions of source, jurisdiction and distinction between resident and non-resident from the perspective of international taxation are an important issue and in this perspective tax treaties and related instruments have been reviewed.

The rise of BIT regime worldwide represents a major shift in investor-state relations in developing and emerging economies. As an outcome, this choice presented challenges both to Investors and BIT partner states. Competing demands emerging from this new relationship between investors and treaty partner led to the development of Law of Investment Treaties.

In order to regulate the levy of Sales Tax on services provided, rendered, initiated, received or consumed in the province of Sindh, the provincial government enacted, The Sindh Sales Tax on Services Act, 2011,1 which became enforceable from the first day of July 2011.2

General principles on ‘Taxability’, ‘Jurisdiction’, ‘Taxable person’, ‘Taxable event’, Taxable supply, Tax exemption, Adjustments, etc bear a common phraseology among different jurisdictions, hence understanding of the general principles elucidated by courts of different jurisdiction will extend us new grounds for understanding the complexities of issues arising between taxpayer and tax department.

During the multilateral trade negotiations it was agreed that countries will extend a judicious treatment to the flows of international trade, despite that many countries are using technical barriers as a cause to prohibit imports and to distort competitiveness.

World’s economies are closely woven and interrelated with each other, individual states are thus required to be more efficient in application of conventions and agreements signed under WTO, in order to increase the trade volumes of goods and services. States are also required to be prudent in implementing laws meant for the growth of international trade, more particularly when such conventions or agreements have become part of the municipal legislation.

The article examines the law of damages in Pakistan in respect of aviation claims. This paper examines the following questions in order to assist those who seek compensation as a result of Fatal Accidents. (1) When does the limitation period expire under the Pakistani laws? (2) Is there a cap on compensation being paid by the airline as a consequence of an aviation disaster case?...

This paper examines the issue relating to the enforceability of foreign judgments in Pakistan. In the existing law, there are two categories of judgments, one passed by the courts of reciprocating states and the other by non-reciprocating states. The judgments of reciprocating states are enforceable per se, but for non-reciprocating states, the judgment creditor will have to seek enforcement by filing a suit in the appropriate court.

A Book Review - Suppose you wanted to write a novel about the activities of a man and chronicles of his day’s life, obviously it requires a powerful narration and lot of details. Faced with such narrative limitations you might be tempted to invent a wider canvas of things, places, events, books and things. The good news is that Ian McEwan has presented a beautiful novel on these concepts.

The forces of ‘globalization’ have had a profound impact on the world’s leading economies. Today, the leading countries of Asia know this lesson well, and North America and Europe are rapidly feeling the effects of the difficulties faced by Asian economies.

Pakistan faces significant risks of money laundering and even more significant risks of terrorism financing. Aware of the prevalence of corruption, narcotics trafficking and terrorism, the authorities have focused on tackling these predicates. Pakistan has however not yet sufficiently taken into account money laundering and terrorism financing associated with these and other predicate crimes.