ISLAMABAD, Feb 10: The government has decided to move a proposal to Japanese government to update the convention on avoidance of double taxation on income.

This was stated by adviser on Finance to prime minister, Shaukat Aziz while talking to a delegation of Pakistan-Japan business forum here on Monday.

Mr Aziz assured the delegation that the government would move the proposal on priority.

The minister said that talks on new model of taxation would start soon with the Japanese tax officials.

Member direct taxes, Vakil Ahmad Khan told newsmen that Pakistan- Japan business forum has asked for signing of the OECD model of taxation treaty between the two countries.

He said that the government has already sent its consent to Tokyo for negotiation on the treaty.

Pakistan and Japan had signed agreement on double taxation on February 7, 1959. It was revised in 1969 as protocol supplementing the convention between Pakistan and Japan for avoidance of double taxation and prevention of fiscal evasion in respect of taxes.