Huzaima Bukhari & Dr. Ikramul Haq “The Laffer Curve, by the way, was not invented by me; it has its origins way back in time. For example, the Muslim philosopher Ibn Khaldun wrote in his fourteenth-century work The Muqaddimah: It should be known that at the beginning of the dynasty, taxation yields a large revenue...Read More

Growth, broad base & low-rate taxes Huzaima Bukhari, Dr. Ikramul Haq & Syed Muhammad Ijaz “A comprehensive strategy had been formulated to shift the gear and move to higher economic growth. I do not believe in increase in taxes to increase revenue collection but those outside the tax net would be tapped. The chances for any...Read More

Dr. Ikramul Haq Like every budget of Pakistan since decades, the latest one, expected on June 11, 2021, will be no different and having the same features: burdening the common people, appeasing the mighty, not withdrawing benefits available to the rich and following the dictates of the lenders/donors. Majority of experts say that it is...Read More

Dr. Ikramul Haq Budget for fiscal year 2021-22 is in the making amidst difficult times when the all sectors of economy need tax incentives for survival in the wake of Covid-19 endemic, especially after the third and deadly wave that is now receding. Projections about GDP growth at the end of the current year are...Read More

Taxes, inflation & social welfare Huzaima Bukhari & Dr. Ikramul Haq The Federal Board of Revenue (FBR) has achieved a historic milestone of collecting taxes of Rs. 4.17 trillion in the first 11 months of the current fiscal year, for which its top leadership, the entire team at headquarter and officers/staff in the field deserve...Read More

Huzaima Bukhari “Laws are spider webs through which the big flies pass and the little ones get caught”–Honore de Balzac The interesting thing about legislation in a country is that those who understand its significance are the ones who are actually observing the law like obedient citizens and the ones who care no less, blatantly...Read More

Huzaima Bukhari & Dr. Ikramul Haq “About 60% of the population falls in the “transitory poor” category (Bukhari and Haq, 2019) it means a substantial population has no access to luxurious items; their needs revolve around basic necessities. The rules for indexation to the CPI have several potential disadvantages. They prevent real wage and employment...Read More

Huzaima Bukhari “Laws are spider webs through which the big flies pass and the little ones get caught”–Honore de Balzac The interesting thing about legislation in a country is that those who understand its significance are the ones who are actually observing the law like obedient citizens and the ones who care no less, blatantly...Read More

Huzaima Bukhari & Dr. Ikramul Haq The budget for fiscal year (FY) 2022, the fourth of the coalition Government of Pakistan Tehreek-i-Insaf (PTI), is to be announced on June 11, 2021. Every year before the announcement of annual federal budget—which has become an official ritual—plethora of tax proposals are received by the Federal Board of...Read More

Dr. Ikramul Haq The imposition of any kind of legislation that include levy of any tax or duty, cess etc having extraterritorial impact and involving entities operating on trans-provincial levels by any provincial assembly is patently against Article 141 of the Constitution of Islamic Republic of Pakistan [“the Constitution”]. In the same manner any legislative...Read More