State oligarchy & tax breaks
Huzaima Bukhari & Dr. Ikramul HaqIn a country where development outlay is cut drastically every year and an indomitable State Oligarchy enjoys unprecedented tax-free perquisites and perks at the expense of taxpayers, what can one expect other than fiscal chaos…
Unprecedented Transgression of Power by CBR
ByDR IKRAMUL HAQDr. Ikramul Haq, a leading international tax counsel, is a well-known author specialising in international tax, press, intellectual property, corporate and constitutional law. Dr. Ikram is Chief Partner of Lahore Law Associates (fax: +92 42 7226953, e-mail: irm@brain.net.pk)….
Regularisation for the rich, demolition for the poor
Dr. Ikramul HaqPakistan—literally means ‘Land of the Pure’—is a unique country where the state patronises ‘corruption” (it includes amongst others tax evasion, money laundering, land grabbing, rent-seeking etc) for the rich and mighty. As for the weaker sections of society,…
ATTN: Sheikh Asif Salam
From: Dr Ikramul HaqSub: Non-Application of Section 50(1) regarding payments on account of Golden HandshakeOn behalf of our clients (List Annexed), we want to bring to your kind notice the following vis-à-vis non-application of deduction of tax at source on…
Budget Proposals 2019-2020
Documentation/Broadening of tax base/raising number of filers/The fundamental element of tax reforms is providing an efficient and competent administration, which is nowhere visible in Pakistan. Tax administrations, both at federal and provincial levels, lack the requisite level of digitization, professionalism…
How to Unearth Black Money?
Dr. Ikramul Haq*I. INTRODUCTION In the context of the prevailing grave financial crises in the country and the problem of ever-growing black money, (which according to official and independent experts is around Rs. 1.8 trillion, about 70 % of the…
Debt, taxes & self-reliance
Huzaima Bukhari & Dr. Ikramul HaqThe perpetual failure to tap the actual tax potential, which is not less than Rs. 8 trillion, has forced the successive governments to rely more and more on external and internal borrowings, pushing the country…
TAX AMNESTY SCHEME 2000: AN ANALYSIS
By Dr. Ikramul Haq*I. INTRODUCTION The Central Board of Revenue (CBR) in its Circular No. 4 of 2000 dated 1st March, 2000, issued under Section 59D of the Income Tax Ordinance, 1979, unveiled yet another tax amnesty scheme to unearth…
The Politics of Loan Write Offs
By Dr. Ikramul Haq*The country’s banks and other financial institutions wrote off a staggering amount of over Rs 30 billion during the governments of Muhammad Khan Junejo, Benazir Bhutto and Nawaz Sharif. Two-thirds of the total loans – Rs. 22.35…