Pakistan, Tajikistan amend convention for avoidance of double taxation

Pakistan and Tajikistan have signed to amend the present convention for avoidance of double taxation, Federal Board of revenue (FBR) on Monday.

The FBR issued SRO 82(I)/2023 and stated that the Islamic Republic of Pakistan and the Republic of Tajikistan signed the Protocol on 17th September 2021, to amend the present convention for the Avoidance of Double Taxation and the Prevention of monetary Evasion with respect to Taxes on profits among Pakistan and Tajikistan signed in Islamabad on may also 13, 2004.

In section of Article 2 of the Protocol “The Contracting nation shall notify every other via diplomatic channels that every one prison tactics for the entry into pressure of this Protocol had been completed”, and “This Protocol shall enter into pressure on the date of the later of the notifications”. Government of Tajikistan has notified the Protocol with impact from 17th June, 2022;

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In exercise of the powers conferred via sub-section (1) of section 107 of the profits Tax Ordinance, 2001, the Federal authorities directed that the provisions of the said Protocol shall come into pressure from seventeenth June, 2022 and the provisions of the stated Protocol shall practice,

In case of the Islamic Republic of Pakistan, from the 1st day of July next following the date upon which the Protocol enters into force; and

In case Republic of Tajikistan, from the first day of July following the date upon which the Protocol enters into force.