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…
Need for income tax law – III
Part 2 - Special Cases 66. (1) Where a person dies, his legal representative or the executor shall be liable to pay any sum, which the deceased would have been…
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…
Private foreign currency account and Section 111(4) of the Income Tax Ordinance, 2001: The revolving circle
This is a continuation of the articles written earlier in this paper on the matter of perpetual amnesty available in the form of 'No Question Asked Concept' for foreign exchange…
Need for new income tax law — I
When the government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, we, amongst many others, opposed it strongly. Our main objection was that his…
Income Tax: is there any shortcut to correction? – III
Part I and II of this series summarized the underlying tone of the fiscal framework adopted in the last 50 years in Pakistan. Except for some non-substantive and minor aberrations,…
Income Tax: is there any shortcut to correction? – III
Part I and II of this series summarized the underlying tone of the fiscal framework adopted in the last 50 years in Pakistan. Except for some non-substantive and minor aberrations,…
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…
Extirpate the income tax
The tax laws in Pakistan are flawed to a certain extent. There isn’t a Pakistani who leads a life devoid from paying their fair share of taxes. There is tax…
