Not a people’s budget
Dr Ikramul Haq Fixing of unachievable tax target for the FBR represents continuation of past legacies that relied on ill-directed, illogical, regressive and unfair taxes. Such skewered approach has a proven record of dampening industrial and business growth. Whereas —…
Finance Bill 2021
Cautious optimism or justified pessimism? Huzaima Bukhari & Dr. Ikramul Haq The Finance Bill 2021 with federal budget will be unveiled today. Will it bring relief for the unemployed, pensioners with no other source of income, low-paid salaried persons and…
Unconstitutional “agricultural income” taxation
Huzaima Bukhari & Dr. Ikramul Haq “I think the landowners’ lobby is powerful in the assembly and they might not allow downward revision of non-taxable income. Instead of filing Agricultural Income Tax returns with the provincial governments, the same should…
Power vis-à-vis character
Huzaima Bukhari “Power does not corrupt men; fools, however, if they get into a position of power, corrupt power”–George Bernard Shaw What is exactly meant by corruption? Transparency International provides a very simple definition: “We define corruption as the abuse…
Budget, jobs, taxes & growth
Huzaima Bukhari & Dr. Ikramul Haq “The Laffer Curve, by the way, was not invented by me; it has its origins way back in time. For example, the Muslim philosopher Ibn Khaldun wrote in his fourteenth-century work The Muqaddimah: It…
Tax proposals for Budget 2021
Growth, broad base & low-rate taxes Huzaima Bukhari, Dr. Ikramul Haq & Syed Muhammad Ijaz “A comprehensive strategy had been formulated to shift the gear and move to higher economic growth. I do not believe in increase in taxes to increase…
Budgets of, by & for elites
Dr. Ikramul Haq Like every budget of Pakistan since decades, the latest one, expected on June 11, 2021, will be no different and having the same features: burdening the common people, appeasing the mighty, not withdrawing benefits available to the…
Budget, tax targets & IMF
Dr. Ikramul Haq Budget for fiscal year 2021-22 is in the making amidst difficult times when the all sectors of economy need tax incentives for survival in the wake of Covid-19 endemic, especially after the third and deadly wave that…
Budget FY 2022
Taxes, inflation & social welfare Huzaima Bukhari & Dr. Ikramul Haq The Federal Board of Revenue (FBR) has achieved a historic milestone of collecting taxes of Rs. 4.17 trillion in the first 11 months of the current fiscal year, for…