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Pakistan and China to cooperate within the taxation domain

  • July 31, 2019
Pakistan and China to cooperate within the taxation domain
Image caption Pakistan and China to cooperate within the taxation domain

Chairman Federal Board of Revenue (FBR) Syed Muhammad Shabbar Zaidi has said that the Pakistan and China will sign a memorandum of understanding (MoU) on cooperation between FBR and China's State administration of taxation for sharing best international practices within the area of taxation and learn from each other's taxation policies and practices.

Talking to Business Recorder here on Monday, Shabbar Zaidi said that the purpose of the MoU is to share tax related data and promote improvement in trade and investment in both countries. After signing of the MoU, the formal agreement would be inked between the two countries, which would be landmark achievement within the domain of taxation between the two countries, he added.

According to an announcement of the FBR here on Monday, Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi has sent the draft memorandum of understanding (MoU) on cooperation between FBR and China's State Administration of Taxation. The draft MoU has been sent through a letter addressed to Pakistan's Ambassador in China Ms. Naghmana A. Hashmi.

In this regard, Pakistan's Ambassador in China has been authorized to sign the MoU on behalf of FBR. The Chairman FBR in his letter has stated that the signing of the MoU will enable the Taxation Authorities of both the countries to share data and learn from each other's best practices. The MoU will promote improvement in trade and investment in both countries.

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