ATTN: Sheikh Asif Salam
From: Dr Ikramul Haq Sub: Non-Application of Section 50(1) regarding payments on account of Golden Handshake On 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…
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,…
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 %…
Debt, taxes & self-reliance
Huzaima Bukhari & Dr. Ikramul Haq The 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…
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…
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….
Judges and accountability
Dr. Ikramul Haq The process of accountability must start from those who judge others. Any process of accountability lacking credibility and transparency is bound to fail, even bounce back. For sustainable democracy, accountability of all through an impartial and competent…
Income Tax base – Myth & Reality
By Dr. Ikramul Haq* The Central Board of Revenue has been consistently and persistently claiming that tax base of Pakistan is disappointingly narrow and majority of the people do not pay income tax. The reality is quite opposite. The people…
When work is worship
Huzaima Bukhari All religions, whether Godly or man-made, prescribe sets of rituals that signify essential elements of their tenets. One can easily identify followers of a particular religion from the way they perform their rites and observe their customs. Similarly,…