Pakistan and Mexico have initialled a draft convention for Avoidance of Double Taxation. According to statement issued by the FBR here on Friday said that consensus in this regard was reached during the second round of negotiations which were held here for five consecutive days.
At the end of the detailed deliberations ending on May 20, the two sides reached a consensus on all issues and the draft Convention was initialled by the respective heads of the two delegations. The finalised draft was initialled by Khawar Khurshid Butt, Member (Inland Revenue), FBR and Armando Lara Yaffar, Director General, Ministry of Finance, Mexico on behalf of their respective governments.
The two sides expressed the hope that besides providing safeguards against double taxation on the income of the residents of the two States, the agreement will also boost economic co-operation, trade and investment. The two sides agreed to complete their internal procedures at the earliest to bring the convention into force. Armando Lara Yaffar expressed gratitude for the warm hospitality extended to his team by government of Pakistan.-PR