After successful conclusion of second round of negotiations between Pakistan and Bulgaria, an agreement for avoidance of double taxation and prevention of fiscal evasion was signed between the two countries. On the occasion was present Dr Muhammad Irshad, Chairman Federal Board of Revenue (FBR), Roumen Pirontchev, the Ambassador of Bulgaria to Pakistan, Mohammad Iqbal, Head of Pakistan delegation and Mrs. Iskra Slavcheva, head of Bulgarian delegation.
According to the FBR Chairman, the treaty would facilitate cross border trade and investment, lessen tax barriers and help the tax administration and taxpayers of both the countries. This agreement would ease the insecurities of investors and provide certainty of tax treatment in both the countries. Besides through the sharing of information mechanism, information could be obtained on request basis for the administration or enforcement of the domestic laws which will help minimize the possibility of tax evasion.
The Ambassador of Bulgaria to Pakistan Roumen Pirontchev thanked FBR for the warm reception that had been provided to the visiting delegation. He stated that this agreement between Pakistan and Bulgaria will help in bolstering the bilateral relationship between the two countries.
