S.R.O. 08 (1)/2018 - FBR ISSUES NOTIFICATION TO THE AGREEMENT BETWEEN HONGKONG AND PAKISTAN

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WHEREAS the Islamic Republic of Pakistan and the Government of Hong Kong Special Administrative Region of the People's Republic of China signed the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income on 17th February, 2017, as set out in the Annexure to this Notification (the Agreement);
AND Whereas, in terms of Article 29 of the Agreement each of the Contracting Parties shall notify the other in writing of the completion of procedure required by its laws for bringing into force of this Agreement and shall enter into force on the date of receipt of the later of these 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 provisions of the said Agreement shall come into force from 24th November, 2017 and shall have effect:
(a)        in the case of Islamic Republic 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 Agreement 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 Agreement enters into force.
(b)   in the case of the Hong Kong Special Administrative Region, in respect of Hong
Kong Special Administrative Region tax, for any year of assessment beginning on or after the first day of April in the calendar year next following that in which the Agreement enters into force.


S.R.O. 08 (1)/2018.

You can download the PDF file from here. 

Following is the copy of notification:



























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