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The slow poisoning of economy?

Some of the budget proposals circulating in the media — especially those recommended by the reforms and revenue mobilization commission (RRMC) –have been termed anti-documentation and anti-corporatization by analysts and…

Taxation of immovable property

The National Assembly through the Finance Act 2012 amended section 37(5) of the Income Tax Ordinance, 2001 [“the Ordinance”] and for the first time levied capital gains tax (CGT) on…

Putting the record straight: a rejoinder

In response to our article [FBR: dismal income tax collection, Business Recorder, November 11, 2022], the Federal Board of Revenue (FBR) on its website issued Clarification I on November 12,…

Bewilderment over rational tax policy

There is a national consensus that the existing tax system needs to be completely restructured to provide an equitable, pragmatic, investment-oriented and growth-inductive policy and nationally integrated automated tax administration…

Taxing capital gains

The federal government, through the Finance Act 2012, amended section 37(5) of the Income Tax Ordinance, 2001 and for the first time levied income tax on gain of immovable property…

Taxing Immovable Property

Taxing immovable property

Post-18th amendment, who has the right under the Constitution to levy income tax on gain of immovable property? The federal government, through Finance Act 2012, amended section 37(5) of the…

Real Estate: Boom Or Bust?

Real estate: boom or bust?

The recently introduced measures in budget 2016-17 relating to the real estate sector have dampened the enthusiasm of investors and punters alike, and transactions have thinned out significantly in the…