Constitution & tax codes
Huzaima Bukhari & Dr. Ikramul HaqEvery year before the preparation of annual federal budget, the Federal Board of Revenue (FBR) seeks proposals from officers, trade/professional bodies, tax bars, and other stakeholders—this has become a ceremonial activity. Each year, after this…
FATF—Pakistan
Real Estate Sector in Focus Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf ShakooriFebruary 2021 has significant importance for Pakistan due to a review of its progress complying with the remaining six action items under anti-money laundering and combatting financing of…
FATF & Pakistan’s faulty action plan
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf ShakooriUnder the Anti-Money Laundering Act, the Federal Board of Revenue is responsible for ensuring that designated non-financial businesses and professions (DNFBPs) including real estate agents, dealers in precious metals and stones, and…
Paradigm shift in tax policy
Dr. Ikramul Haq‘The impact of economic growth on the lives of people is partly a matter of income distribution, but it also depends greatly on the use that is made of the public revenue generated by economic expansion‘—An uncertain glory-‐India…
PTI’s unconstitutional amnesties
Huzaima Bukhari & Dr. Ikramul HaqThe Federal Board of Revenue (FBR) on the last day of 2020, without any legal instrument, issued a clarification that the last date of ‘Prime Minister’s Construction Package’ was extended. The Presidential Ordinance [The Income…
The helpless, the powerless!
Huzaima Bukhari“We all hit moments when we feel helpless. The test is how we react to that feeling. We can either learn from it and move forward or let it drag us down”―Travis BradberryMs. B is an educated lady, comes…
Tax codes: unconstitutional framing & delegation
Dr. Ikramul HaqEvery year before the preparation of annual federal budget, the Federal Board of Revenue (FBR) seeks proposals from officers, trade/professional bodies, tax bars, and other stakeholders—this has become a ritual. Each year, after this futile exercise, the Finance…
FBR: unconstitutional “legislator”
Dr. Ikramul HaqIn the last week’s column, it was promised that till February 15, 2021, deadline set by the Federal Board of Revenue (FBR), for seeking proposals from all stakeholders, some concrete measures will be suggested rather than “meaningless amendments…
Restructuring the tax system
Huzaima Bukhari & Dr. Ikramul Haq“If we realise that the FBR cannot be fixed, we will create a new FBR. This is because Pakistan’s survival is linked to it. It’s not about our liking or disliking: if our tax collection…