Pakistan, Mexico Initial DTA

by Mary Swire, Tax-News.com, Hong Kong

24 May 2011



Pakistan and Mexico have initialled a draft Convention for Avoidance of Double Taxation, according to a statement released by the Pakistan Federal Board of Revenue (FBR).

The consensus was reached during the second round of negotiations held over five consecutive days. At the end of the detailed deliberations ending on May 20, the two sides reached agreement on all issues and the draft Convention was initialled by the heads of the two delegations – 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 cooperation, trade and investment. It was agreed that internal procedures would be completed at the earliest to bring the Convention into force.

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