FBR’s statistics: A critical analysis
Huzaima Bukhari & Dr. Ikramul Haq On September 18, 2020, Federal Board of Revenue (FBR) released ‘Parliamentarians’ Tax Directory for Tax Year 2018’, ‘Tax Directory of all Taxpayers for Tax Year 2018’ and ‘Tax Directory Analysis for Tax Year 2018’….
Legislators, FBR, NAB, ECP & accountability
Dr. Ikramul Haq Every year a large number of legislators—Senators, members of National and Provincial Assemblies—fail to file their annual statements of assets and liabilities to the Election Commission of Pakistan (ECP) in time. The ECP, under the law, just…
The motorway tragedy
Any lessons learnt? Huzaima Bukhari “Strength doesn’t lie in carrying heavy loads. Camels can do that. Strength lies in controlling your temper”— Hazrat Ali (AS) There is a general belief that a person who boasts of great physical strength is…
Punjab: tax reforms with foreign loan!
Dr. Ikramul Haq According to a Press report, following in the footsteps of the Federal Government, the Punjab Government has decided to borrow $ 304 million from the World Bank for tax reforms. Earlier, the Federal Government obtained loan of…
The tale of diplomatic gifts
Huzaima Bukhari “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it”— Frédéric…
Finance Bill 2013
Meaningful suggestions Huzaima Bukhari & Dr. Ikramul Haq Senate Standing Committee on Finance sent a number of meaningful, though unbinding, recommendations to the National Assembly on 21 June 2013. Finance Minister Ishaq Dar ignored all of them while making the…
Pakistan
Tax issues of corporate amalgamations, mergers & acquisitions Huzaima Bukhari & Dr. Ikramul Haq* INTRODUCTION In the era of globalization, cross-border amalgamations, mergers and acquisitions are very important for the international corporate growth and integration of world-wide business. The pace…
Pakistan: Tax Issues Surrounding Corporate Amalgamations, Mergers & Acquisitions*
By Huzaima Bukhari & Dr. Ikramul Haq[1] Contents INTRODUCTION BACKGROUND COMPARATIVE ANALYSIS 3.1. United Kingdom 3.2. India TAX NEUTRALITY IMPLICATIONS OF SCHEMES OUTSIDE THE SCOPE OF TAX BENEFITS CAPITAL GAINS TAX EXPOSURE CONCLUSION 1. INTRODUCTION In the era of globalization,…
Flat-rate taxation: an alternate solution
Huzaima Bukhari & Dr. Ikramul Haq Synopsis At present, both the centre and provinces are not collecting taxes according to their respective potential due to weak enforcement and inherent problems of an out-dated tax system. Total tax potential of Pakistan…