Agreement with Switzerland on double taxation soon

FE Team | Published: June 10, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

Naim-Ul-Karim
The government will soon sign an agreement with Switzerland on avoidance of double taxation and negotiate with 12 more EU countries in this connection, aiming to attract more foreign direct investment (FDI) in the country.
"We are going to sign an agreement with the Switzerland soon on avoidance of double taxation," a senior official of the ministry of foreign affairs (MoFA) told the FE.
Besides, he said: "We are expecting to sign agreement with few other countries in this connection in near future."
The countries, with which the government is negotiating, are: Austria, Belarus, Cyprus, Finland, Georgia, Greece, Hungary, Ireland, Moldova, Norway, Russian Federation and Ukraine.
The date and venue for signing the agreement with Switzerland will be finalised by the next couple of days, sources said.
However, regarding the outcome of signing agreement on avoidance of double taxation, they said it will help the country attract more FDI, as the foreign investors will not require paying double tax.
Besides, sources said such agreement with any country, especially with EU countries, will benefit exporters to a large extent.
When asked, foreign ministry source said: "We have already signed agreement with nine EU countries including Belgium, Denmark, Germany, Italy, the Netherlands, Poland, Romania, Sweden and the UK."