ISLAMABAD, May 11: Pakistan and Morocco have initialled the draft convention for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income between the two countries. The draft was signed by Director of Tax Administration of Morocco Noureddine Bensouda and Pakistan’s Member of Direct Taxes Salman Nabi here on Wednesday.

Both the sides initialled the draft convention following a three-day negotiation on the articles of the treaty which were not agreed in the first round of negotiations held in Morocco.

The visiting delegates met CBR Chairman M. Abdullah Yusuf, who expressed the hope that this convention would augment the already existing trade and economic relations between the two countries and open new avenues to the best interests of business communities of the contracting states.