ISLAMABAD - The Pakistan Taxation Research and Consulting Centre was launched in Chongqing Municipal Tax Service.
It will study Pakistan’s taxation system, track policy trends, analyse the impact of Pakistan’s taxation policies, legal framework, tax collection and management model on China-Pakistan economic cooperation (CPEC), and provide tax-related consultation and advice for Chinese companies investing in Pakistan.
China has been Pakistan’s largest trading partner, the largest source of imports and the second largest export destination for many years.
In 2023, China-Pakistan bilateral trade volume exceeded $20 billion, Gwadar Pro reported on Monday.
Since 2015, the Chongqing Municipal Tax Service has set up a team to continuously study Pakistan’s tax policies to help Chinese companies that have invested or intend to invest in Pakistan to accurately and timely grasp the implementation of relevant policies and reduce tax risks.
Hamid Atiq Sarwar, Deputy Director at the Internal Revenue Bureau, Federal Board of Revenue of Pakistan, attended the launch ceremony via video link. Relevant officials of the FBR introduced Pakistan’s tax system, tax preferential policies and other contents.
“Pakistan is a market full of potential. The local government has continuously introduced a number of preferential policies, such as tax exemptions and investment subsidies. The Chinese tax authorities have also provided important tax policy support and services such as tax agreements to companies investing in Pakistan.”
Hali, Deputy General Manager of China Energy Construction Gezhouba Group Pakistan Branch, said that he believed that with the cooperation of the tax authorities of China and Pakistan, Chinese companies in Pakistan will usher in a brighter future.
Since 2015, a special team of Chongqing Municipal Tax Service has been continuously studying Pakistan’s tax policies and compiled the Tax Guide for Chinese Residents Investing in Pakistan.
At the same time, it continues to release Pakistan’s tax dynamics to help Chinese companies investing in or planning to invest in Pakistan accurately and timely grasp relevant policies so as to reduce tax risks.