Law of binding precedents
Huzaima Bukhari & Dr. Ikramul Haq INTRODUCTION In view of the hierarchical character of the judicial system in Pakistan, it is of paramount importance that the law declared by courts should be certain, clear and consistent. Inconsistencies create distrust in…
Sales tax on “goods” & “services”
Dr. Ikramul Haq On March 12, 2020, according to Press release of Ministry of Finance, the National Tax Council [NTC] was established and its terms of reference (ToRs) approved. According to a Press report, “The harmonisation of GST is part…
PTI’s fiscal policy: challenges for 2021
Huzaima Bukhari & Dr. Ikramul Haq The Pakistan Tehreek-i-Insaf (PTI) on assumption of power in August 2018 with the help of coalition partners, after general elections held on July 25, 2018, contrary to its election promises, failed to undertake much-needed…
General’s ‘general law’ v ‘special law’
Huzaima Bukhari & Dr. Ikramul Haq The Income Tax Ordinance, 2001, was promulgated by General Pervez Musharraf, through a Presidential Ordinance on September 13, 2001 repealing Income Tax Ordinance, 1979, which was also introduced by a military dictator, General Zia-ul-Haq….
Lawmakers or lawbreakers?
Huzaima Bukhari “When the leaders choose to make themselves bidders at an auction of popularity, their talents, in the construction of the state, will be of no service. They will become flatterers instead of legislators; the instruments, not the guides,…
Learning taxation from clergy?
Huzaima Bukhari & Dr. Ikramul Haq Federal Board of Revenue (FBR) recently sought the guidance of clergy on the issue of taxation of Islamic financial instruments. In this regards, the following Press Release was sent to media by FBR on…
My best friend!
Huzaima Bukhari “Walaqad khalaqnal insaana wa na’alamo maa tuwaswiso behi nafsohu wa nahno aqrabo ilaihi min hab’l an’wareed And indeed it is We Who created humankind, and fully know what their souls whisper to them, and We are closer to…
Homage to Rehan Hassan Naqvi: humanist par excellence
Huzaima Bukhari & Dr. Ikramul Haq Sadly, on March 20, 2010 we lost Mr. Rehan Hassan Naqvi, a humanist par excellence, brilliant intellectual and extraordinary legal mind—he was different from all other tax lawyers of his time. Not only are…
Executive defying Legislature
Dr. Ikramul Haq The powers granted to Federal Board of Revenue (FBR) by the Legislature in 2018 under section 230F of the Income Tax Ordinance, 2001 [“the Ordinance”] to acquire any immovable property that is transferred by a person (transferor)…