It has been announced that the German Government is to give a number of Pakistani businesses a full Value Added Tax (VAT) rebate for company expenses incurred during visits to Germany for the last half of 2008.
The message has been relayed to Pakistan's government by the German Finance Ministry, via the Pakistani branch of Berlin's Embassy.
Originally, German officials announced that they would not include Pakistan in the list of countries they were willing to exempt from VAT bills generated during business trips to Germany.
However, after continued efforts by the Pakistani Embassy in Berlin to try to persuade the German government to reconsider this move, the government backed down and agreed to meet the needs of the Pakistani businesses bringing trade to the country.
Under the move, Pakistani businesses who have visited Germany for the purpose of improving trade will be awarded a full rebate on the 19% rate of VAT levied on expenditures after July 1, 2008.
Explaining the terms of the agreement in a statement, a Foreign Office spokesman commented:
“Pakistani business entrepreneurs will now be able to claim refund of VAT paid by them at the time of purchase of goods and services during their visits to Germany for business purposes, including participation in exhibitions and trade fairs. Claims can now be lodged for VAT paid after July 1, 2008."
Germany's decision to reconsider Pakistan for the rebate has been hailed as a positive move in terms of future trading between the two countries.
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