Taxing foreign rental income
Investment in foreign properties by a specific section of society in Pakistan has been a pretty common phenomenon, especially in countries like the UAE, UK and so on. Naturally, the…
Foreign assets outside Pakistan of Pakistani residents
Misinterpretation of law There were the Panama Leaks in 2017 followed by the Paradise Leaks and Pandora Leaks. Now there is a Swiss Leak relating to foreign assets held in…
Partly Facetious: He didn’t go at taxpayers’ expense
"Democracy is here at last!" "If you are referring to the London meeting of three men - the true leader, the heir apparent in the event that the true leader…
The private foreign currency accounts & Section 111(4) of the Income Tax Ordinance, 2001: Breaking the revolving circle
In an article published in this esteemed paper early this year under the title "Private Foreign Currency Account and Section 111(4) of the Income Tax Ordinance-The Revolving Circle", the author…
Foreign-funded tax reforms
Fiscal consolidation should be as growth-friendly as possible. In general, tax base-broadening reforms are identified as growth-oriented reforms. To the extent that they reduce distortions to economic decisions on work,…
Scapegoating foreign aid
In our Brexity, Trumpist times, you only need to see the words “foreign aid” to understand that such a thing – and also its entire operational philosophy – is in…
Of taxpayers & non-filers!
Non-collection of tax where due, is as detestable as its collection, where it is not due- CIT Companies, Lahore v State Cement of Corporation (Pvt) Ltd, Lahore 2002 PTD 1603…
Whither taxpayers’ money
In Pakistan, taxpayers' money is not spent for the purpose it is collected. It is wasted and/or abused mercilessly. A big chunk of it goes for debt servicing and for…
Misusing taxpayers’ money
Regardless of Pakistan's poor economic growth, rising poverty and inequalities, internal and external security threats and energy crises, extraordinary funds are made available to ensure that our rulers appear…
Dar good at procuring foreign loans
If the relevance of a budget is premised on the accuracy of data of the outgoing fiscal year then budget 2014-15''s relevance would expire on 1 July 2014, the first…
