Fiscal deficit and tax system
Dr. Ikramul Haq In fiscal year 2019-20, the coalition government of Pakistan Tehreek-i-Insaf (PTI), according to a report, posted fiscal deficit of Rs. 3.4 trillion or 8.1% of GDP against the estimate of International Monetary Fund (IMF) of Rs. 3.9…
Finance Act 2020
Lack of initiatives & innovations Huzaima Bukhari & Dr. Ikramul Haq The adoption of Finance Bill 2020 on June 29, 2020 and exceeding the target by the Federal Board of Revenue (FBR) for fiscal year (FY) 2019-20, after blocking refunds…
Need for new income tax law
Draft Income Tax Act, 2022 Huzaima Bukhari & Dr. Ikramul Haq[i] When the government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, many opposed it strongly. The main objection was that his regime had…
Independence Day considerations
Huzaima Bukhari & Dr. Ikramul Haq Today we are celebrating 73rd Independence Day with a hope that the new government, after two years in power, will now seriously work on bringing the much-needed reforms in all spheres of governance and…
Celebration of independence
Huzaima Bukhari “Independence? That’s middle class blasphemy. We are all dependent on one another, every soul of us on earth”—George Bernard Shaw Congratulations to all Pakistanis celebrating the 73rd Day of Independence on 14th August 2020. May Allah bless the…
Need for new income tax law
Huzaima Bukhari & Dr. Ikramul Haq When the government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, many opposed it strongly. The main objection was that his regime had no mandate to enact any…
FBR’s collection & unpaid refunds
Dr. Ikramul Haq The first month of the current fiscal year has brought good news for the coalition government of Pakistan Tehreek-i-Insaf (PTI) on the fiscal front. The Federal Board of Revenue claimed in a Press release of exceeding the…
FBR’s hideous legacy of unpaid refunds
Huzaima Bukhari & Dr. Ikramul Haq “The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system where most people drudge along, paying heavy taxes for which…
Politics—game or profession?
Huzaima Bukhari “Popularity should be no scale for the election of politicians. If it would depend on popularity, Donald Duck and The Muppets would take seats in senate.”—Orson Welles What an apt observation by John F Kennedy when he said:…