Huzaima Bukhari & Dr. Ikramul Haq The budget for fiscal year 2020-21, the second one of coalition Government of Pakistan Tehreek-i-Insaf (PTI), is expected on June 12, 2020 when Covid-19 economic toll has already affected businesses and individuals on a massive scale. Prime Minister and his Adviser on Finance & Revenue have promised to present...Read More

Revival, growth and revenues Huzaima Bukhari & Dr. Ikramul Haq “If we were to construe Entry 52 of the Legislative List keeping in view the above meanings of the expression “in lieu of”, it becomes evident that the Legislature has the option instead of invoking Entry 47 for imposing taxes on income, it can impose...Read More

Agenda for tax reforms Huzaima Bukhari & Dr. Ikramul Haq The biggest challenge faced by the State of Pakistan is on revenue mobilisation front in the aftermath of Covid-19 pandemic/lockout and global meltdown of economy. Budget 2020 is in the making amidst very difficult times when we are faced with economic meltdown due to Covid-19...Read More

Who is violating the Constitution? Huzaima Bukhari & Dr. Ikramul Haq The unanimously-passed 18th Constitutional Amendment, received assent of President on April 19, 2010, was undoubtedly a titanic exercise aimed at securing consensus through parliamentary negotiations between divergent, conflicting and competing interests within the federation of Pakistan. Through this Amendment, 102 out of 280 Articles...Read More

Tax reforms for economic revival Huzaima Bukhari & Dr. Ikramul Haq The biggest challenge faced by the present federal and provincial governments is how to strike a balance between revenue mobilisation and revival of economy in the aftermath of Covid-19 pandemic, lockout and demand contraction. We alone are not victim of these as it is...Read More

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