S.R.O. 49(I)/2006, Islamabad, the 6th January 2006

SROS: S.R.O. 49(I)/2006, Islamabad, the 6th January 2006 GOVERNMENT OF PAKISTAN AND THE GOVERNMENT OF YEMEN HAVE EXECUTED AN AGREEMENT FOR THE AVOIDANCE OF DOUBLE TAXATION...... S.R.O. 49(I)/2006, Islamabad, the 6th January 2006:- WHEREAS the Government of the Islamic Republic of Pakistan and the Government of the Republic of Yemen have executed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income on the 2nd March, 2004, as set out in the Annexure to this Notification; NOW, THEREFORE, in exercise of the powers conferred by sub-section(1) of section 107 of the Income Tax Ordinance, 2001(XLIX of 2001), the Federal Government is pleased to direct that the Agreement shall enter into force upon the exchange of instruments of ratification and its provisions shall have effect:- (a) as regards taxes withheld at source, it shall apply to the amounts that are paid or entered into the accounts on or after the first day of January of the Gregorian year following the year in which the Agreement comes into force; and (b) as regards other taxes imposed on income, to the tax years that begin on or after the first day of January of Gregorian year that follows the year in which the Agreement comes into force. AGREEMENT BETWEEN THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF PAKISTAN AND THE GOVERNMENT OF THE REPUBLIC OF YEMEN FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME PREAMBLE The Government of the Islamic Republic of Pakistan and the Government of the Republic of Yemen desiring to conclude an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and to promote and strengthen the economic relations between the two countries, Have agreed as follows:…