Pakistan and Algeria are likely to sign convention on avoidance of double taxation and the prevention of fiscal evasion pertaining to taxes on income and capital. Tax authorities of both the sides will also sign another important agreement of mutual assistance and co-operation in matters related to customs.
Sources on Wednesday said that the agreements would be signed during the upcoming session of Pak-Algeria Joint Ministerial Commission (JMC) scheduled to be held from September 19-20 in Islamabad.
The Economic Affairs Division (EAD) has asked the tax authorities to finalise arrangements pertaining to the convention on the avoidance of double taxation and the prevention of fiscal evasion between Pakistan and Algeria. It has directed the CBR that the existing status of the agreements/MoUs to be signed with the Algerian government be conveyed to the EAD before August 25.
Necessary action for vetting of agreements by the Law, Justice and Human Rights Division as well as approval of the Prime Minister/Cabinet be timely completed to ensure their signing on the occasion of this JMC.
The following agreements and memorandums of understanding will be signed between both the countries during the upcoming visit of the Algerian officials:
Memorandum of understanding relating to the co-operation between Ministry of Higher Education and Scientific Research of Algeria and Higher Education Commission of Pakistan.
Memorandum of understanding between Small and Medium Enterprises Development Authority (Smeda) of Pakistan and Ministry of Small and Medium Size Enterprises and Handicrafts of Algeria.
Draft agreement of trade and economic co-operation: Commerce Ministry will do the necessary working in this regard.
Draft of agreement on reciprocal and protection investments: The Board of Investment (BoI) will finalise the arrangements on this issue.
Draft of memorandum of understanding on development of infrastructure of communication Technologies.
Agreement in the field of information and broadcasting.
Draft convention on mutual legal assistance in criminal matters between the governments of Algeria and Pakistan.
Agreement in the field of Cultural Exchange Programme 2004-08.
Air service agreement between Pakistan and Algeria: Defence Ministry will deal with the issue.
Draft Agreement on international maritime: Ports and Shipping Ministry will take up the issue with the Algerian counterpart in coming meetings.
Agreement on scientific and technological co-operation: Science and Technology Ministry will deal with the issue.