Pakistan, Venezuela to discuss double taxation
Agreement has been reached to sign a treaty.
ISLAMABAD:
Pakistan and Venezuela have agreed to hold negotiations on a treaty for avoidance of double taxation applicable to trade, commerce and services between the two states.
The agreement was reached at a meeting between Federal Board of Revenue (FBR) officials and the Ambassador of Venezuela to Iran, concurrently designated to Pakistan, David Valesquez Caraballo, who visited the FBR headquarters with a two-member delegation on Monday.
The two sides discussed the friendly relations between the two states and in particular the modalities for negotiating an agreement on avoidance of double taxation. The cabinet had approved initiation of negotiations for the agreement with Venezuela in 2008, said a statement issued by FBR.
The process for initiation of talks has already commenced with the exchange of model drafts on avoidance of double taxation by the two countries.
They expressed confidence that the volume of trade between the two nations, which stood at about $13 million in the preceding financial year, would get a strong boost after the agreement comes into force.
Published in The Express Tribune, March 1st, 2011.
Pakistan and Venezuela have agreed to hold negotiations on a treaty for avoidance of double taxation applicable to trade, commerce and services between the two states.
The agreement was reached at a meeting between Federal Board of Revenue (FBR) officials and the Ambassador of Venezuela to Iran, concurrently designated to Pakistan, David Valesquez Caraballo, who visited the FBR headquarters with a two-member delegation on Monday.
The two sides discussed the friendly relations between the two states and in particular the modalities for negotiating an agreement on avoidance of double taxation. The cabinet had approved initiation of negotiations for the agreement with Venezuela in 2008, said a statement issued by FBR.
The process for initiation of talks has already commenced with the exchange of model drafts on avoidance of double taxation by the two countries.
They expressed confidence that the volume of trade between the two nations, which stood at about $13 million in the preceding financial year, would get a strong boost after the agreement comes into force.
Published in The Express Tribune, March 1st, 2011.