Huzaima Bukhari & Dr. Ikramul Haq The coalition government of Pakistan Tehreek-i-Insaf (PTI) in its very first budget for finance year 2019-20, through Finance Act, 2019, imposed ‘minimum tax regime’ for certain class of taxpayers along with tax on normal income, whichever is higher, with effect from tax year 2020. This is in utter violation...Read More

Dr. Ikramul Haq The shrinking share of direct taxes in overall collection is a serious cause of concern. It is now well-established that there is a direct link between growing poverty in Pakistan and distortion in tax base since 1991-92, when a major shift was made by introducing presumptive taxes (indirect taxes in the garb...Read More

Huzaima Bukhari “It is not the hand that rocks the cradle that rules the world; it is the woman that holds the keys to the kingdom”—Shannon L. Alder A matrimonial agent questions a typical Pakistani wannabe mother-in-law (Mrs. X) wanting to arrange her son’s marriage: “So, you are looking for a girl to marry your...Read More

Huzaima Bukhari & Dr. Ikramul Haq It is an established principle that what is not “income” under the income tax law cannot be taxed, and where there is no sale of “goods” or providing and rendering of services between two persons, natural or juridical, there cannot be any indirect taxes (General Sales Tax or Value...Read More

Huzaima Bukhari “O you who have believed, be persistently standing firm in justice, witnesses for Allah, even if it be against yourselves or parents and relatives. Whether one is rich or poor, Allah is more worthy of both. So follow not [personal] inclination, lest you not be just. And if you distort [your testimony] or...Read More

Dr. Ikramul Haq According to a Press release, the Federal Board of Revenue (FBR) issued terms of references (ToRs) for Integrity Management Cell (IMC). According to the ToRs, the IMC will be headed by a grade 21/22 officer of Inland Revenue Service (IRS) or Customs, “who will be assisted by two Chiefs (one each from Customs &...Read More

Huzaima Bukhari “One of the things about acting is it allows you to live other people’s lives without having to pay the price”—Robert De Niro For human beings, the mere thought of being deprived of entertainment is enough to cast them into depression. From times immemorial people have been finding different ways and means to...Read More

Dr. Ikramul Haq In democracy, direct taxes play an important role for equitable wealth distribution. The Parliament enjoys exclusive power to levy taxes and citizens pay these under social contract for general welfare of all. Being elected representatives of people, legislators have greater responsibility in discharging their legal obligations—tax payments is vital amongst these—and ensure...Read More

Huzaima Bukhari & Dr. Ikramul Haq Raising the living standard and socio-economic uplift of industrial workers is the cornerstone of the Government policy, which is being achieved by providing the basic and other social amenities of life to workers in the country.WWF has been playing vital and progressive role in providing various important services to...Read More

Huzaima Bukhari & Dr. Ikramul Haq It is heartening to note that despite the challenges faced by economy due to Covid-19 endemic, followed by complete and partial lockdowns till now and contraction in imports, the Federal Board of Revenue (FBR) is performing well. According to Press release issued by FBR, it collected “Rs. 1337 billion...Read More