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0700245-9 - COY (LTU KARACHI) DEUTCHE BANK (ASIA) ATIENGESELLCHAFT

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Application for Exemption on Payments to Non-Resident Status: Prepared

General

NTN: 0700245-9 Name of Payer: DEUTCHE BANK (ASIA) ATIENGESELLCHAFTEDN No.: 34090339

Office : (LTU/RTO) * LTU KARACHI - (34) Tax Year: 2012 Date of Notice: 22/07/2013

Commissioner IRS Name: (If Known) *Commissioner IRS Zone: Zone II

Nature of Payment: * Section 152(2) – ANY OTHER AMOUNT except an amount to which SectionCurrency: * PKR - Ruppee (PK) Amount Due for Payment: * 708236000

Particulars of Payer

Status of the Payer: PE Of Non Resident

PE of Non-Resident Person in Pakistan:

BOI/EAD's Permission No. Date: NTN: 0700245-9

Residence Country: Germany Status in Home Country: Corporate STRN:

Main Business: BANKING

Contact Details:

Address* 243-243, AVARI PLAZA, FATIMA JINNAH ROAD, KARACHI.

Tel #:* 009221111555777 Fax: E-mail:* azhar.iqbal@db.com

Website: Inc. /Reg. No.: 372/20001007 Inc./ Reg. Date:

Total Payment made Under the head during the year:

Total Payment to the Recipient During the Year:

Remitting Bank Particulars:

Bank Name (Local): * DEUTSCHE BANK AG Branch Code : * 004201

Address: * 243-243, AVARI PLAZA, FATIMA JINNAH ROAD, KARACHI.

Particulars of Recipient

Category: Corporate Name of Recipient:* DEUTSCHE BANK AG

Contact Details:

Corporate

Address: * TAUNUSANLAGE 12, 60262, FRANKFURT AM MAIN, GERMANY

Country:* Germany Tel#:* 049699103640 Fax:

E-mail:* alexander.sonntag@db.com Website: www.db.com

Incorporation #: Inc.Date:

Bank Account Details:

A/C No. : * 14000010193902 Bank Name:* DEUTSCHE BANK AG

Branch Address:* DEUTSCHE BANK AG, PO BOX 100601, FRANKFURT

Tel.# : Country:* Germany

Currency: PKR - Ruppee (PK) Total Payment to the Recipient during the Year:

Currency: Select... Total Payment to the Recipient to-date:

Particulars of Transactions

Is the contract one-time or ongoing ? Ongoing

Nature of Contract?(What gives rise to the payments): *remittance of after tax branch profit of Rs 708.236 million pertaining to the accounting year 2011 (Tax Year 2012)

Attach Copy of Contract/Agreement Browse...

Nature of Payment * Section 152(2) – ANY OTHER AMOUNT except an amount to which Section

Total Payment: Currency: * PKR - Ruppee (PK) Amount: * 708236000 *Pertains to which Tax Year: 2012

Basis of Exemption

Is the Claim based on an Agreement for the Avoidance of Double Taxation(ADTA)? Yes

Country:* Germany

Applicable Article/Paragraph:* Article 10(4) read with Article 7 of the Avoidance of Double Taxation Treaty between Pakistan and Germany

Other Supporting Arguments?(Please make out your case for

exemption by making cogent arguments duly supported by legal

provisions/data and documents) *

1) As per Article 10(3) of the treaty, the term ‘Dividends’ means income from shares OR income from other corporate rightwhich is subject to same taxation as dividend on shares by the taxation law of Pakistan in which the company making the payment isa resident. Considering the first part, it is amply clear that the enlarged definition as per the domestic law will not be applicable forDB. Even considering the second part, it is also clear that DB-Pakistan (the company making the payment) is not a "resident" inPakistan.

Requested On: 22/07/2013 Application No. 147

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