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Pakistan And Venezuela To Negotiate DTA

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

10 March 2011


Pakistan and Venezuela have agreed to hold negotiations on a treaty for the avoidance of double taxation applicable to trade, commerce and services between the two countries.


The agreement was reached at a meeting between Pakistan Federation Board of Revenue (FBR) officials and the Ambassador of Venezuela to Iran, David Valesquez Caraballo, who was visiting the FBR in Islamabad with a two-member delegation.

The Pakistan Cabinet had approved the initiation of negotiations for an agreement on avoidance of double taxation with Venezuela in 2008, and the process has already commenced with the exchange of the model drafts by the two states.


Both sides were of the view that the proposed agreement would not only provide safeguards against double taxation of income of the residents of the two states, but would also promote economic cooperation, investment and further strengthen existing economic relations. It is expected that trade between the two countries, which stood at about USD13m in the last financial year, would also get a strong boost when the agreement comes into force.

TAGS: Pakistan | tax | investment | double tax agreement (DTA) | Venezuela | trade | Iran

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