FBR’s dilemma
Huzaima Bukhari & 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…
Taxes for what?
Huzaima Bukhari & Dr. Ikramul Haq Why 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…
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…
“Secrecy” of tax declarations
Huzaima Bukhari & Dr. Ikramul Haq A write-up published in an English daily on November 19, 2019 claimed that Mr. Babar Sattar, counsel for Justice Qazi Faez Isa of Supreme Court “raised questions and highlighted that for some years his…
Challenges on judicial front
Huzaima Bukhari & Dr. Ikramul Haq The judiciary worked tirelessly to provide justice to the people with less resources. 3,100 judges worked hard and decided 3.6 million cases in a year. Judiciary decides all the cases on merit and does…
Revenue losses & illicit tobacco trade
Dr. Ikramul Haq “Only two [tobacco] companies pay 98 percent of total tax [tobacco collection]. The remaining 40% companies pay meagre 2% tax”—Prime Minister, Imran Khan “Cigarette manufacturers across the country are evading millions of rupees in taxes through fraudulent…
Flourishing tobacco industry & “soft state”
Huzaima Bukhari & Dr. Ikramul Haq “Only two [tobacco] companies pay 98 percent of total tax [tobacco collection]. The remaining 40% companies pay meagre 2% tax”—Prime Minister, Imran Khan “Cigarette manufacturers across the country are evading millions of rupees in…
Of weddings and dowry
Huzaima Bukhari “Choosing elements for your wedding day should be fun, but these choices won’t make any difference in the stuff that matters. For better or worse, you’ll end that day married to your partner, and that’s the truly exciting…
Foreign-funded tax reforms
Huzaima Bukhari & Dr. Ikramul Haq Fiscal consolidation should be as growth-friendly as possible. In general, tax base-broadening reforms are identified as growth-oriented reforms. To the extent that they reduce distortions to economic decisions on work, saving, investment and consumption,…