ACCOUNTING OF INDEX FUTURES TRANSACTIONS
Dr. Ikramul Haq This article deals with Accounting of Derivatives and attempts to cover the Pakistani scenario in some depth. The areas covered are Accounting for Foreign Exchange Derivatives and Stock Index Futures. Stock Index Futures are provided more coverage…
ACCOUNTING OF INDEX FUTURES TRANSACTIONS
Dr. Ikramul Haq This article deals with Accounting of Derivatives and attempts to cover the Pakistani scenario in some depth. The areas covered are Accounting for Foreign Exchange Derivatives and Stock Index Futures. Stock Index Futures are provided more coverage…
NAB, NRO, corruption and democracy
Huzaima Bukhari & Dr. Ikramul Haq Pakistan has been facing grim challenges of corruption, fiscal crimes, tax evasion, plundering and wasting of taxpayers’ money. No serious effort has ever been made for countering rent-seekers. Lack of accountability and unprecedented tolerance…
Campaign for accountability and reforms
Huzaima Bukhari & Dr. Ikramul Haq The process of accountability must start from those who judge and adjudge others. Any process of accountability that lacks confidence, transparency and consensus is bound to fail, even bounce back. For sustainable democracy, accountability…
Abusing withholding provisions
Huzaima Bukhari & Dr. Ikramul Haq Provisions of Sections 161 & 162 of the Income Tax Ordinance, 2001 could not have been invoked for recovery of tax, character of which changed from “advance tax” to “tax due” after assessment vide…
Abusing taxpayers’money
“When laws do not rule, there is no constitution” Dr. Ikramul Haq All public power is a sacred trust, which is to be exercised fairly, justly, honestly and in accordance with law—Supreme Court of Pakistan in Workers’ Party Pakistan &…
In the grip of disillusionment
Huzaima Bukhari & Dr. Ikramul Haq The country during the last many days remained in the grip of severe despair and disillusionment. The sit-ins, demonstrations, political confrontations, killing of the innocent, denial of justice and economic vulnerabilities damaged the civilian…
A Heinous Joke With the Nation
If 18 February 2008 was an historical day in the history of Pakistan, the subsequent events have proven to be nothing more than a shameless consequence of imprudent and incompetent political leadership. The entire Parliament, lawfully elected by the people…
A tax for the poor that rich never paid
Dr. Ikramul Haq The fiscal woes of Pakistan are due to naked defiance of the rich to pay due taxes on their enormous incomes/wealth. A progressive tax (Income Support Levy), legislated in 2013, remains unpaid till today by 99% parliamentarians…