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Dr. Ikramul HaqThe News on Sunday |
The Ministry of Finance informed the National Assembly that more than Rs. 3.38 trillion has been collected from mobile phone users over the period of...
“Although the Punjab Assembly passed the Agriculture Income Tax Amendment Act of 2024, it fell below the desired target of raising the agriculture...
The Pakistan Tehreek-e-Insaf (PTI) convoy, led by Bushra Bibi, the wife of Imran Khan, is approaching Islamabad's Zero Point, which has been taken...
The Supreme Court of Pakistan on November 15, 2024, heard after a lapse of more than six years, Suo Motu Case No. 2 of 2018 on ‘Maintaining of...
This is the second part of a two part series. You can read the first part here. The biggest challenge on the tax mobilisation front faced by the...
“The FBR has already faced a revenue shortfall of Rs189 billion in the first four months of the current fiscal year. It is projected that this...
Pakistan has missed three out of five major fiscal conditions set by the International Monetary Fund (IMF) for the first quarter of fiscal year 2025,...
The 26th Constitutional Amendment (CA) passed by Pakistan’s Parliament is a blow to judicial independence, the rule of law, and human rights...
90% of Pakistan’s population does not pay taxes. Out of 43 million households in the country, only 4 million are registered taxpayers……. retired...
“ Mauritius Revenue Authority disburses all social payments, including negative income tax, special allowance, pregnancy allowance, children...
The interim Government [of Bangladesh] on September 28, 2024, restructured an inter-agency task force meant to bring back money illegally taken...
The government has decided to abolish non-filers from the tax laws and gradually ban their 15 types of activities, as it has won rare support from...
The available data confirms that every year, more cases are filed than disposed of—choking the justice delivery system. Despite this critical...
The Tax Laws (Amendment) Act, 2024, which was passed by the National Assembly on April 29, 2024, and received assent from the President of Pakistan on...
"Restoring economic security to the working class will require tackling monopoly power, sweeping reforms to our tax code, labour laws, and trade and...
My personal experience has shown that the business community genuinely wants to pay taxes but is often intimidated by the system…. A rough estimate...
In his first public appearance after the IMF removed Pakistan from its August 30th board meeting agenda, the finance minister sought to reassure the...
Many Pakistanis, especially the youth in colleges and universities, while celebrating Independence Day every year, express bafflement as to how a...
Pakistanis have endured 77 years of a painful journey comprised of unprecedented suffering. The misery of the poor and less privileged will continue...
“ Inflation is always and everywhere a monetary phenomenon”—Milton Friedman “A deficit is only evidence of overspending if it sparks...
For two countries with almost the same cost of living, income tax on salaried employees in Pakistan is up to 9.4 times that in India - see attached....
“Taxing agriculture is a core component of the International Monetary Fund's new program for Pakistan and is critical to its success. If the...
“Taxes allow the government to collect money from people who have it, which means taxes are looked upon as a way to transfer money to the federal...
Every year, the Federal Board of Revenue (FBR) as the Revenue Division of the Ministry of Finance (MoF), claims to have “exceeded” the annual...
Any imbalance between spending and taxation ruffled their feathers. They warned of a looming debt crisis and called for swift action to rein in fiscal...
If politics makes strange bedfellows, politics and drugs produce even stranger ones. The partnership between drug trafficking and national politics...
Extreme concentrations of wealth also have a corrosive effect on our political process and our democracy. Just as tax cuts can be used to exacerbate...
The federal government has set an ambitious target of Rs1,281 billion on account of Petroleum Levy (PL) on petroleum products for the upcoming fiscal...
The government had briefed the PPP leadership about the conditions by the IMF for the new bailout package, which include approval of the budget,...
“Taxes are critically important, but there’s no reason to assume the government must raise taxes whenever it wants to invest in our economy.”—...
In the federal budget for fiscal year (FY) 2024-25, expected to be announced on June 7, 2024, no effort will be made to tap the real tax potential of...
“Taxes are important for other reasons that I will explain in this book. But the idea that taxes pay for what the government spends is pure...
All annual budgets of federal and provincial governments—civil or military alike—for the last five decades, especially tax proposals through...
The budget for fiscal year 2024-25, the first of the newly-elected (with many claiming “installed”) government of the Pakistan Muslim League...
The biggest challenge on tax the mobilization front faced by Federal Board of Revenue (FBR) is bridging the monstrous tax gap through automation and...
The government has undertaken another ritual exercise by constituting an 11-member ministerial committee headed by Finance Minister Muhammad...
Almost on a daily basis, we hear from the higher judiciary that all the affairs of the state should be conducted according to the Constitution of...
In the Supreme Court of Pakistan, Suo Motu Case No. 2 of 2018 re ‘Maintaining of Foreign Accounts by Pakistani Citizens Without Disclosing the...
Each Province shall, by law, establish a local government system and devolve political, administrative and financial responsibility and authority to...
On March 23, 1940, All India Muslim League in its annual session at Lahore passed the Lahore Resolution, which ultimately paved the way for a...
The Executive Board of the International Monetary Fund (IMF), in the wake of the staff level agreement in Islamabad on March 20, 2024, will approve by...
The International Monetary Fund (IMF) on Thursday called upon Pakistan to reopen discussions on the National Finance Commission (NFC) award, seeking...
The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million...
Pakistan’s capacity to mobilize taxes is greatly under-explored. With a tax to GDP ratio of 8.5%, along with an undeclared economy almost the size...
The history of existing laws and the judicial structure in Pakistan dates back to the British colonial era—since independence, nothing substantial...
Fiscal decentralisation necessarily involves the transfer of taxing and spending powers to sub-national levels of government — in our context, local...
Fiscal decentralisation necessarily involves the transfer of taxing and spending powers to sub-national levels of government—in our context, local...
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