Lower & predictable taxes for growth
Dr. Ikramul Haq The outdated and oppressive tax structures at federal and provincial levels have created further fiscal mess and how come out of it is discussed in Towards Flat, Low-rate, Broad and Predictable Taxes’ (PRIME Institute, Islamabad, published…
Knowledge sans wisdom
Huzaima Bukhari “Wisdom is the right use of knowledge. To know is not to be wise. Many men know a great deal, and are all the greater fools for it. There is no fool so great a fool as a…
Overriding ‘doctrine of mutuality’
Huzaima Bukhari & Dr. Ikramul Haq Through the Finance Act, 2021 [“the Act”], the Parliament has made an amendment with retrospective application to override the well-established principle that what is not “income” under the income tax law cannot be taxed,…
Taxing what is not “income”
Huzaima Bukhari & Dr. Ikramul Haq It is a cardinal principle that what is not “income” cannot be taxed under the income tax law (presently in operation is Income Tax Ordinance, 200I]. In Pakistan, a misconception prevails that National Assembly…
Will USA regain its lost legacy?
July 4 marks the Independence Day of United States of America Dr. Ikramul Haq July 4, 1776 has special significance in American history. The great liberation movement against colonial rule was pioneered in this land and founding-fathers of this historic…
FATF & collective failure
Dr Ikramul Haq It is shocking that only two political parties filed income tax returns for tax year 2020 out of 27 registered with FBR and 127 with Election Commission of Pakistan despite section 114(1)(ac) of the Income Tax Ordinance,…
Budgets & elitist structures
Huzaima Bukhari Dr. Ikramul Haq All annual budgets of federal and provincial governments—civil or military—for the last four decades, especially tax proposals through Finance Bills, strengthen elitist structures. The year 2021 is no different when millions are in dire need…
Pakistan: Dissecting FATF Failure
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori The incompetence and lack of understanding of the incumbent government has once again proven fatal as all their efforts to shift Pakistan from the list of jurisdictions with increased monitoring (grey…
Our society’s dilemma
Huzaima Bukhari “Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be…