Determining fair income tax base
According to the latest data available on the website of Pakistan Telecommunication Authority (PTA), as on December 31, 2023, total number of SIMs issued was 189 million (78.93% mobile teledensity);…
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…
Need for new income tax law — II
The administration of a tax system is highly complex. No doubt, a proper bureaucratic input is vital for making the system successful, but it is equally necessary to take all…
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…
Taxing what is not ‘income’—II
In the Shahid Pervaiz v Ejaz Ahmad and others 2017 SCMR 206, 14-member bench of Supreme Court held: “….where the Supreme Court deliberately and with the intention of settling the…
Universal income
According to an April 6 article on CNBC.com, Spain is slated to become the first country in Europe to introduce a universal basic income (UBI) on a long-term basis. Spain’s…
Need for new income tax law – I
When the then government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, many opposed it strongly. The main objection was that his regime had…
Income Support Levy 2013: A perspective
The Finance Minister during his recent budget speech introduced a new Income Support Levy Tax. A Levy of 0.5 percent would be imposed on all moveable assets of an individual…
Difficulties in implementation Agriculture income tax
Last week the discussion was on viability of agriculture income tax. The necessary corollary to that would be the implementation of this tax. The three major questions that need to…
Taxing the taxed: Income Support Levy Act, 2013
In the current budget, the government has proposed to levy a wealth tax by proposing to enact a new law.1 The object of the tax is to provide financial assistance,…
