Entry into Force of Convention between Japan and the Islamic Republic of Pakistan for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income

October 10, 2008

The Exchange of Notes for the entry into force of the Convention between the Governments of Japan and the Islamic Republic of Pakistan for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income (signed on January 23, 2008) took place in Islamabad on October 10 (Fri) between Mr. Chihiro Atsumi, Japanese Ambassador to Pakistan, and Mr. Irfan Nadeem, Member of Federal Board of Revenue.
The new Convention will enter into force on November 9 (Sun), 2008 and be applicable in Japan;

(1) Concerning taxes withheld at source, for amounts taxable on or after January 1, 2009.

(2) Concerning income taxes not withheld at source and the enterprise tax, as regards income for any taxable year beginning on or after January 1, 2009.

Reflecting the close economic relations between Japan and Pakistan, the new Convention contains extensive revisions of the existing Convention in content for the first time in 49 years, with a view to positively promote mutual investments while taking measures to prevent fiscal evasion.

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