S.R.O.707(I)/2011, dated Islamabad, the 9th July, 2011

SROS: S.R.O.707(I)/2011, dated Islamabad, the 9th July, 2011 CONVENTION FOR THE AVOIDANCE OF DOUBLE TAXATION BETWEEN PAKISTAN AND SERBIA WAS SIGNED ON 21ST MAY, 2010 AND PUBLISHED IN THE OFFICIAL GAZETTE OF PAKISTAN VIDE SRO NO. 707(I)/201 DATED 9TH JULY, 2011. S.R.O 707(I)/2011, dated Islamabad, the 9th July, 2011:- WHEREAS the Government of the Islamic Republic of Pakistan and the Government of the Republic of Serbia have executed a Convention for the Avoidance of Double Taxation with respect to Taxes on Income on 21st day of May, 2010, as set out in the Annexure to this Notification; NOW, THEREFORE, in exercise of the powers conferred by 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 with effect from 30th September 2010 and its provisions shall have effect,- (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 the 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 the Convention enters into force; and (b) in the case of Serbia, in respect of the taxes on income derived in each fiscal year beginning on or after the first day of January in the calendar year next following the year in which the Convention enters into force. Annexure C O N V E N T I O N BETWEEN THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF PAKISTAN AND THE GOVERNMENT OF THE REPUBLIC OF SERBIA FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME PREAMBLE The Government of the Islamic Republic of Pakistan and the Government of Republic of Serbia desiring to conclude a Convention for the avoidance of double taxation with respect to taxes on income, Have agreed as follows: CHAPTER I SCOPE OF THE CONVENTION Article 1 PERSONS COVERED This Convention shall apply to persons who are residents of one or both of the Contracting States. Article 2 TAXES COVERED 1. This Convention shall apply to taxes on income imposed on behalf of a Contracting State…