Bern talks to focus on taxation treaty
ISLAMABAD: Pakistan and Switzerland will begin technical level negotiations in Bern on Tuesday for revision of ‘Swiss-Pakistan Convention for the Avoidance of Double Taxation’ to enable the treaty to create an environment for better trade and investment between the two countries.
The three-day meeting is being held on the request of Pakistan. This was stated by Swiss Ambassador Marc P. George while briefing a group of newsmen on the upcoming Pak-Swiss negotiations.
The primary aim of the convention is to avoid double taxation by coordination of taxation rights of the contracting states.
At the three-day talks to be held with the State Secretariat for International Financial Matters, a three-member delegation will represent Pakistan, consisting of two officials of Federal Board of Revenue (FBR) and Pakistan’s Ambassador in Berne, Dr Aman Rashid.
The adoption of the current international standard in respect of the exchange of information provides the tax authorities of both countries with a legal basis for an exchange of information for tax purposes on request. This may empower both the countries to better enforce their respective tax laws and to counter tax evasion.
According to the information provided by the Swiss embassy, the conventions “do generally not include a legal basis for the restitution of assets originating from illegal activities.”
