Blog Full Both Sidebar

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 his contributions to the legal...

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) to any person (transferee) for...

Huzaima Bukhari “Illusion is needed to disguise the emptiness within.”—Arthur Erickson (Canadian architect) According to Andrew Schneider, “Truth is a perception of depth in which we perceive more of what is there, while illusion is a superficial perception of reality.” These days there is too...

Flagrant Constitutional violations Huzaima Bukhari & Dr. Ikramul Haq The taxation of “services” mentioned in section 153(1)(b) of the Income Tax Ordinance, 2001 [“the Ordinance”] with effect from tax year 2020 is subjected to “minimum tax regime” in cases where tax is deducted/deductible or normal...

Huzaima Bukhari & Dr. Ikramul Haq The coalition government of Pakistan Tehreek-i-Insaf (PTI) in its very first budget for finance year 2019-20, through Finance Act, 2019, imposed ‘minimum tax regime’ for certain class of taxpayers along with tax on normal income, whichever is higher, with...