Fiscal challenges & 18th Amendment Huzaima Bukhari & Dr. Ikramul Haq The failure to tap the actual tax potential by the federal and provincial governments is the real issue and not the Constitution (Eighteenth Amendment) Act, 2010 [hereinafter “18th Amendment”] vis-à-vis the National Finance Commission (NFC) Award. Dismal performance [Annexure ‘A’ & ‘AA’, some differences...Read More

Huzaima Bukhari “All you got to do is look around. This country’s getting worse and worse and more and more immoral, and we’re rotting from within”—Terry Bradshaw-American football quarterback According to Benjamin Wittes, a Senior Fellow in Governance Studies at the Brookings Institution, who works principally on matters concerning American law and Security: “It is...Read More

Dr. Ikramul Haq A good tax system is one that raises money with minimal distortion to the economy.  In Pakistan, oppressive, unfair and complex tax system is the main cause of many distortions in economy. Budget 2020, expected on June 12, 2020, is to address the daunting challenge of mitigating economic toll of Covid-19 pandemic....Read More

Economic revival & IT sector Huzaima Bukhari & Dr. Ikramul Haq In the aftermath of Covid-19 outbreak and lockdown, now gradually being lifted in Pakistan, the debate about untapped potential of Information Technology (IT) sector has assumed renewed interest. It has also great importance as increase in export of information technology (IT) and IT enabled...Read More

Huzaima Bukhari & Dr. Ikramul Haq The federal and provincial tax codes of Pakistan contain numerous exemptions and concessions while many are added, modified or withdrawn through executive orders, called statutory regulatory orders (SROs). These exemptions and concessions have not only eroded the tax base but have also contributed towards widening the rich-poor divide. These...Read More

Simple & fair taxation for retailers    Dr. Ikramul Haq The outcome of a meeting between Prime Minister and the business community on January 20, 2020 as expected ended with just clichés like “facilitation”, “concessions” and “waivers” etc. Prime Minister reiterated: “taxation is a key to revive national economy” and openlyadmitted that traders are excellent...Read More

Need for paradigm shift Huzaima Bukhari & Dr. Ikramul Haq In the present circumstances, in the forthcoming federal budget, the need for a fair and simple tax system, as elaborate in Towards Flat, Low-rate, Broad and Predictable Taxes [PRIME Institute, 2016] and referred to in PIDE Policy Viewpoint [16:2020] Doing Taxes Better: Simplify, Open &...Read More

Huzaima Bukhari “Nobody has monopoly over jahaalat—a highly educated person can be highly jaahil whereas a person who never attended any educational institution can be just the opposite”—Dr. Ikramul Haq Communication is an important matter for all living beings but humans stand out as they are blessed to be endowed with the gift of speech...Read More

Dr. Ikramul Haq The Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, in a Press Release issued on May 18, 2020, noted that while preparing the next budget, “we should be more vigilant, practical, and analyze the opportunities and challenges offered by the current environment”. He added that the “Government is...Read More

Dr. Ikramul Haq “Simplify taxes, reduce the cost of excessive documentation, open the economy for higher growth and employment, taxes will then increase….Not only is our tax policy not based on conceptual clarity, it is also being changed continuously to meet unrealistic targets. The tax rates are high and keep changing several times a year...Read More