Governing badly, expecting miracles!
Dr. Ikramul Haq As two-thirds of the tax collected is in the form of indirect taxes and one-fourth of the entire amount comes from petroleum and petroleum products at various stages (which is passed on to consumers), the overall incidence…
FATF: Pakistan’s tough test in June 2021
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori “Pakistan is determined to act against money laundering and terror financing. We have made considerable progress on the remaining three points, which will also be completed by June to completely get…
The eternal legacy!
Huzaima Bukhari “Constant kindness can accomplish much. As the sun makes ice melt, kindness causes misunderstanding, mistrust and hostility to evaporate”―Albert Schweitzer An overwhelming number of people in this world are so engrossed in their own lives that they find…
FATF & Pakistan’s Progress
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori “As a three-day virtual meeting of the Financial Action Task Force (FATF) will begin today, February 22, during which the steps taken by Pakistan against money laundering and terror financing will…
Tax model for growth & prosperity
Huzaima Bukhari & Dr. Ikramul Haq The outdated and oppressive tax structures at federal and provincial levels, wasteful expenses, mounting debt servicing and annual tax expenditure of over Rs. one trillion have created fiscal instability since 2008. The coalition…
Pakistan’s fiscal woes
Huzaima Bukhari & Dr. Ikramul Haq “….the debt servicing relief of US$ 2.7 billion (equivalent to 1 percent of GDP) provided to Pakistan under the G-20’s Debt Servicing Suspension Initiative will help create expenditure space for Covid-related spending” —State Bank…
Tax incentives for non-resident Pakistanis
Huzaima Bukhari & Dr. Ikramul Haq The coalition government of Pakistan Tehreek-i-Insaf (PTI) on February 11, 2021 opted to issue second Presidential Ordinance VI of 2021 [Tax Laws (Amendment) Ordinance, 2021] inserting new provisions and amending the existing ones in…
Morbid taxation: stifling growth of private sector
Case study of telecom industry Huzaima Bukhari & Dr. Ikramul Haq The Pakistan telecom sector contributes steady inflow of heavy tax collections under major heads like Activation Tax, GST/FED, the PTA fee & charges and others. The PTA has been…
FBR, taxpayers & rule of law
Dr. Ikramul Haq In the recent months, the Federal Board of Revenue (FBR) under the present team not only exceeded the budget for the first seven months of the current fiscal year, but has also taken many initiatives that need…