Tax authorities of Pakistan and Serbia Montenegro have agreed on the draft of convention on avoidance of double taxation and prevention of fiscal evasion to promote bilateral trade and investment.
Official sources told Business Recorder on Monday, a delegation from Serbia Montenegro headed by assistant minister for international economic relations Ms Ana Begovic recently visited Pakistan and held second round of negotiations on the issue from April 10-12.
CBR member (direct taxes) Salman Nabi headed the Pakistan side, whereas, Muhammad Faiyaz Khan, chief (international taxes), Muhammad Riaz, secretary (international taxes) policy and Muhammad Ashfaq Ahmad, secretary (international taxes) operations were the other members of the Pakistan negotiating team.
Officials said the two delegations after extensive deliberations agreed on the draft of convention on avoidance of double taxation.
The Serbian delegation also called upon CBR chairman M. Abdullah Yousuf, who hoped the agreement would further augment trade and economic relations between the two countries and open new avenues of co-operation for business communities of the two countries, officials added.