S.R.O. 60(I)/96, Islamabad, dated 17th January, 1996

SROS: S.R.O. 60(I)/96, Islamabad, dated 17th January, 1996 S.R.O. 59(I)/96, Islamabad, dated 16th January, 1996:- WHEREAS the Governments of the Islamic Republic of Pakistan and Republic of Finland have entered into an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on income on the 30th December, 1994, as at Annex: NOW, THEREFORE, in exercise of the powers conferred by section 163 of theIncome Tax Ordinance, 1979(XXXI of 1979), the Federal Government is pleased to direct that the provisions of the aforesaid Convention shall come into force after fifteen days of the later of the Notification and shall have effect in Pakistan:- (i) in respect of taxes withheld at source, on amounts paid on or after the 1st day of July, 1997; and (ii) in respect of other taxes, for the year of assessment beginning on or afterthe 1st day of July, 1997 and subsequent years. AGREEMENT BETWEEN THE ISLAMIC REPUBLIC OF PAKISTAN AND THE REPUBLIC OF FINLAND FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME The Government of the Islamic Republic of Pakistan and the Government of the Republic of Finland. DESIRING to conclude an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. HAVE AGREED as follows:- ARTICLE 1 PERSONAL SCOPE The Agreement shall apply to persons who are residents of one or both of theContracting States. ARTICLE 2 TAXES COVERED 1. The existing taxes to which this Agreement shall apply are: (a) in Finland: (i) the state income taxes(valtiontuloverot; de statligainkomstskatterna); (ii) the corporate income tax(yhteisojentuloveror; inkomstskatten for samfund); (iii) the communal tax(kunnallisvero; kommunalskatten); (iv) the church tax(kirkollisvero; kyrkoskatten); (v) the tax withheld at source from interest(korkotulonlahdevero; kallskatten pa ranteinkomst); and (vi) the tax withheld at source from non-residents income(rajoitetustiverovelvollisenlahdevero; kallskatten for begransatskattskyldig); (hereinafter referred to as Finnish tax); (b) in Pakistan: (i) the income tax; (ii) the super tax; and…