Pakistan and Morocco have agreed on the draft convention on Avoidance of double taxation between the two countries. A three-member Moroccan tax delegation comprising Noureddine Bensouda, Director of Tax Administration, Mustapha Kharbouch, Chief of Service, International Tax Convention, and Fatima Zohra Aquesbi, Chief of Bureau, International Tax Convention, arrived in Islamabad to conduct second round of negotiations with the tax authorities. Negotiations on the draft were started on May 9 and continued till May 11. Salman Nabi, Member (Direct Taxes), represented the Pakistani side. Muhammad Faiyaz Khan, Chief (Direct Taxes Policy) and Muhammad Riaz, Secretary (International Taxes), were other members of the Pakistani team.
The talks were held in a very cordial and congenial atmosphere. Both sides presented and appreciated each other's respective positions.
In continuation of the spirit of accommodation and brotherly relations existing between the two countries, both the sides brought about some positive changes in the draft convention on Avoidance of Double Taxation. The convention would further strengthen bilateral economic relations.
The two delegations, after extensive deliberations agreed on the draft convention on Avoidance of Double Taxation discussed during the three-day negotiations.
The visiting delegates also called on CBR Chairman Abdullah Yusuf, who expressed the hope that this convention between the two countries would augment the already existing trade and economic relations and open new avenues for the business communities of the contracting states.