World Bank-funded tax reforms
Huzaima Bukhari & Dr. Ikramul HaqThe World Bank (WB), in an appraisal paper related to Pakistan Raises Revenue (PRR) has termed “vested interests lobbying for tax exemptions, internal tensions and wariness of change among the Federal Board of Revenue (FBR)…
Repressive taxes, debt trap & fiscal fiasco
Dr. Ikramul Haq“Higher reliance on withholding taxes and within withholding taxes a high concentration on a few items makes the income tax revenues vulnerable. Moreover, taxing the already taxed, is a regressive approach which creates burden on the compliant taxpayers…
Backlash of irresponsible society
Huzaima Bukhari“In a closed society where everybody’s guilty, the only crime is getting caught. In a world of thieves, the only final sin is stupidity”―Hunter S. ThompsonThese days there are disturbing flashes of news on the electronic, print and social…
2019: Pakistan’s fiscal challenges
Dr. Ikramul Haq“An unusual decline in revenue collection and steep rise in current expenditures caused a deterioration in all major fiscal indicators during FY19. The overall budget deficit during the year stood at a historic high of 8.9 percent of…
SMEs, EODB & tax reforms
Huzaima Bukhari & Dr. Ikramul Haq“The small and medium enterprises (SME) sector contributes 30% to the national gross domestic product (GDP) and it comprises 90% of all enterprises in the country. 80 percent of non-agricultural jobs are being provided by…
Teacher—respected or humiliated?
Huzaima Bukhari“If a person teaches me one single word, he has made me his servant for the lifetime”―HazratAli ASA very shameful incident occurred, the video of which was released on November 25, 2019 wherein Professor Ijaz of City College, Multan…
FBR’s dilemma
Huzaima Bukhari & Dr. Ikramul HaqAn unusual decline in revenue collection and steep rise in current expenditures caused a deterioration in all major fiscal indicators during FY19. The overall budget deficit during the year stood at a historic high of…
Taxes for what?
Huzaima Bukhari & Dr. Ikramul HaqWhy has Pakistan failed to enforce voluntary tax compliance? In democratic countries people can feel and even measure tangible benefits of taxes paid by them. They get facilities of health, education, transport, housing, income support…
OVERWHELMING RELIANCE ON WITHHOLDING TAXES FOR COLLECTION OF INCOME TAX IN PAKISTAN
BY: ELLAHI BUKHSH QURESHI, ACA, APFA, LLM (UK)Abstract:Withholding tax is a valuable tool used by many tax jurisdictions in their tax machinery for revenue and data collection. A brief introduction to withholding tax mechanism is followed by analyses of overwhelming…