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Subject of taxation on farm income

This article discusses the issue of availability of food for the poor at affordable prices, economics of agriculture and the misperception about the potential collection of tax on income from…

Income inequality: export-led growth only solution

Pakistan is currently in difficult circumstances, grappling with deindustrialization and widespread unemployment. The country’s inflation rate at 36.4% has forced millions of families into subsistence conditions. Shockingly, 22% of the…

Reviving agricultural growth: Part – VI

Pakistan will have to develop a unified market linking the farms to retail outlets covering the full supply chain particularly in high-value commodities. Corporate investment and competition in on-farm storage,…

Reviving agricultural growth: Part – III

At present, the canal irrigation management system recovers only a quarter of its repair and maintenance costs. In the 1970s, the entire cost was recovered by these water charges called…

Reviving agricultural growth: Part – I

Agriculture forms the backbone of Pakistan’s economy as it provides livelihoods to almost two-thirds of the population, food, water, energy security to the country, and three-fourth of export earnings. The…

FBR: dismal income tax collection

The continuously declining dismal share of income tax in overall tax collection during the last many years testifies to the lack of judicious balance between direct and indirect taxes, resulting…

Wealth tax in the guise of deemed income

Whenever historians will write the history of an abusive, incorrect, absurd and technically incorrect tax imposition anywhere in the world they will censure Pakistan for its ‘presumptive’ and ‘minimum’ tax…

Reforming agricultural sector

Agriculture is the backbone of Pakistan’s economy. Unfortunately, for long it has been neglected by successive governments. This could not build up the resilience needed in this sector, for sustainably…

Services’ & immovable property income taxation

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…

Concealment of income, FATF compliance

In this last article of a multi-part series of articles I will discuss the improvements required in tax administration in their multiple goals of stopping concealment of income and compliance…