S.R.O. 940(I)/2009, dated 28-10-2009

SROS: S.R.O. 940(I)/2009, dated 28-10-2009 AGREEMENT FOR AVOIDANCE OF DOUBLE TAXATION BETWEEN PAKISTAN & MOROCCO. Agreement for avoidance of double taxation between Pakistan Morocco. S.R.O. 940(I)/2009, dated 28-10-2009:- WHEREAS the Government of the Islamic Republic of Pakistan and the Kingdom of Morocco signed Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income on the 18th May, 2006, as reproduced in the Annexure to this notification; WHEREAS the aforesaid Convention has been ratified by both the Contracting States and the Instruments of Ratification have been exchanged on 8th October, 2009; AND WHEREAS, the aforesaid Convention has in terms of its Article 28, entered into force on 8th October, 2009; 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 provisions of the said Convention shall have effect from 8 October, 2009 and shall apply,-(a) In the case of Pakistan: (i) with regard to taxes withheld at source, in respect of amounts paid or credited on or after the first day of July next following the date upon which this Convention enters into force; and(ii) with regard to other taxes, in respect of taxable years beginning on or after the first day of July next following the date upon which this Convention enters into force; and(b) In the case of Morocco: (i) in respect of taxes withheld at- source, for amounts paid or credited, on or after the first day of January of o the first calendar year following that in which this Convention enters into force; and (ii) in respect of other taxes, for any taxable year or period beginning on or after the first day of January of the first calendar year following that in which this Convention enters into force. Annexure CONVENTION BETWEEN THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF PAKISTAN AND THE GOVERNMENT OF THE KINGDOM OF MOROCCO 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…