ISLAMABAD, July 24: A two-member delegation of CBR will leave on Sunday for Bosnia to negotiate signing of a convention for the avoidance of double taxation and prevention of tax evasion between the two countries.

An official in the Central Board of Revenue (CBR) told Dawn on Saturday that during the stay, the delegation would discuss the draft agreement with their counterparts to reach consensus on the main articles.

The proposed draft agreement essentially emphasized the concept of taxation on income of international business transactions in the home country of the recipient. It clearly defines the tax rules that will apply in case of cross border business transactions, he added.

He said the agreement would open new avenues for business and economic cooperation with Bosnia. Although, Pakistan trade with Bosnia at present is not much, there exists considerable potential for its expansion and reciprocal investment.