ISLAMABAD, April 24: A tax delegation of Saudi Arab is scheduled to arrive here on Monday for a second round of negotiations on a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income between the two countries.
An official at the Central Board of Revenue told Dawn on Saturday that during the first round, a Pakistani tax delegation visited Saudi Arab and consensus was achieved on most of the articles of the proposed treaty.
During the second round of negotiations to be held in Pakistan, tax officials of both the countries would develop consensus on the remaining articles of the conventions, he said.
The convention was expected to initial by tax authorities of both the countries by end of the negotiations, the official added.
The decision of having a convention on avoidance of double taxation was taken following the decision of Saudi Shura to levy income tax on income of foreign residents living in Saudi Arab.
The Pakistani community in a meeting with President Pervez Musharraf in Saudi Arabia asked for the treaty to avoid double taxes on their income.
