Huzaima Bukhari “Kindness and a generous spirit go a long way. And a sense of humor. It’s like medicine-very healing”— Maximilian Paul Diarmuid Irons, an English-Irish actor and model. Born in 1985 Having written a lot of serious stuff I thought it was time to experiment with some humour and satire. After all, as aptly...Read More

Huzaima Bukhari & Dr. Ikramul Haq In a country where development outlay is cut drastically every year and an indomitable State Oligarchy enjoys unprecedented tax-free perquisites and perks at the expense of taxpayers, what can one expect other than fiscal chaos and double talk about loyalty to state. The self-styled defenders of “national cause” and...Read More

By DR IKRAMUL HAQ Dr. Ikramul Haq, a leading international tax counsel, is a well-known author specialising in international tax, press, intellectual property, corporate and constitutional law. Dr. Ikram is Chief Partner of Lahore Law Associates (fax: +92 42 7226953, e-mail: irm@brain.net.pk). He is also a member of the visiting faculty of the Institute of...Read More

Dr. Ikramul Haq Pakistan—literally means ‘Land of the Pure’—is a unique country where the state patronises ‘corruption” (it includes amongst others tax evasion, money laundering, land grabbing, rent-seeking etc) for the rich and mighty. As for the weaker sections of society, even the higher judiciary shows a different yardstick—regularisation for the luxurious Grand Hayatt Tower...Read More

From:   Dr Ikramul Haq Sub: Non-Application of Section 50(1) regarding payments on account                           of Golden Handshake On behalf of our clients (List Annexed), we want to bring to your kind notice the following vis-à-vis non-application of deduction of tax at source on payments relating to Golden Handshake: The order of the Honourable Lahore High Court...Read More

Documentation/Broadening of tax base/raising number of filers/ The fundamental element of tax reforms is providing an efficient and competent administration, which is nowhere visible in Pakistan. Tax administrations, both at federal and provincial levels, lack the requisite level of digitization, professionalism and human skills. Any exercise relating to comprehensive tax reforms cannot be a time-bound...Read More

Dr. Ikramul Haq* I.          INTRODUCTION             In the context of the prevailing grave financial crises in the country and the problem of ever-growing black money, (which according to official and independent experts is around Rs. 1.8 trillion, about 70 % of the total economy!), there is an urgent need to launch a well-thought for scheme,...Read More

Huzaima Bukhari & Dr. Ikramul Haq The perpetual failure to tap the actual tax potential, which is not less than Rs. 8 trillion, has forced the successive governments to rely more and more on external and internal borrowings, pushing the country into a ‘debt prison’. The Government of Pakistan Tahreek-i-Insaf (PTI) contrary to all tall...Read More

By Dr. Ikramul Haq* I.          INTRODUCTION             The Central Board of Revenue (CBR) in its Circular No. 4 of 2000 dated 1st March, 2000, issued under Section 59D of the Income Tax Ordinance, 1979, unveiled yet another tax amnesty scheme to unearth black money. From our past experience with such schemes, it can be said...Read More

By Dr. Ikramul Haq* The country’s banks and other financial institutions wrote off a staggering amount of over Rs 30 billion during the governments of Muhammad Khan Junejo, Benazir Bhutto and Nawaz Sharif. Two-thirds of the total loans – Rs. 22.35 billion – were written off during the two stints of Nawaz Sharif. In his...Read More