Budget 2021—the public’s view
Huzaima Bukhari “When we engage in the critical decisions about our nation’s future budgets, I want progressive voices at the table to argue that we must protect the most vulnerable in our society and demand fairness in budget cuts”–Dick Durbin,…
Belligerent parliamentarians!
Huzaima Bukhari “Everything is changing. People are taking their comedians seriously and the politicians as a joke”–Will Rogers Whether it is on innumerable talk shows telecast on the many television channels or in the precincts of the national and provincial…
Finance Bill 2021
Salaried class and FBR’s brutality Huzaima Bukhari & Dr. Ikramul Haq The proposed taxation under Finance Bill, 2021 of salary income including reimbursed medical expenses or medical allowance for the first time in Subcontinent since the introduction of income tax…
Finance Bill 2021
Salaried class and tax brutality Huzaima Bukhari & Dr. Ikramul Haq The proposed taxation of salary income on gross basis, for the first time in Subcontinent since the introduction of income tax law in 1886, instead of giving any relief…
Budget 2021-22 & erratic taxation
Huzaima Bukhari & Dr. Ikramul Haq The federal budget for fiscal year (FY) 2021-22, third of the coalition Government of Pakistan Tehreek-i-Insaf (PTI) [hereinafter “the PTI Government”] and first of its fourth Finance Minister, Shaukat Fayaz Ahmed Tarin, announced on…
Budget, tax targets and fiscal deficit
Dr. Ikramul Haq In document titled, Federal Budget 2021-22: Budget in Brief, released with federal budget for fiscal year (FY) 2021-22 on June 11, 2021, the collection target of Federal Board of Revenue (FBR) is fixed at Rs. 5829 billion…
Not a people’s budget
Dr Ikramul Haq Fixing of unachievable tax target for the FBR represents continuation of past legacies that relied on ill-directed, illogical, regressive and unfair taxes. Such skewered approach has a proven record of dampening industrial and business growth. Whereas —…
Finance Bill 2021
Cautious optimism or justified pessimism? Huzaima Bukhari & Dr. Ikramul Haq The Finance Bill 2021 with federal budget will be unveiled today. Will it bring relief for the unemployed, pensioners with no other source of income, low-paid salaried persons and…
Unconstitutional “agricultural income” taxation
Huzaima Bukhari & Dr. Ikramul Haq “I think the landowners’ lobby is powerful in the assembly and they might not allow downward revision of non-taxable income. Instead of filing Agricultural Income Tax returns with the provincial governments, the same should…