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Setting FBR target for FY2020-21

Projecting budgetary targets, in general, and tax revenue, in particular, with a fair degree of accuracy is an essential element of sound fiscal management and, therefore, of maintaining fiscal discipline…

Unpaid refunds

The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system where most people drudge along, paying…

FBR’s statistics: a critical analysis — II

The same position prevailed for tax year 2017. Out of total registered companies, only 42% (37,130) filed returns! If FBR cannot enforce section 114(1) of the Income Tax Ordinance, 2001,…

FBR performance under the spotlight

The present team of Federal Board of Revenue (FBR) deserves appreciation for showing noteworthy performance during challenging times faced by the economy due to Covid-19 pandemic, complete and partial lockdowns,…

Fbr’s Circular Debt!

Fbr’s circular debt!

The Finance Minister of Pakistan has at last admitted that Federal Board of Revenue (FBR) has a debt of Rs 200 billion-refunds blocked to show higher collection aimed at hoodwinking…

IMF And FBR

IMF and FBR

International Monetary Fund (IMF), in its Third Review under the 1Extended Arrangement for Pakistan, has noted significant shortfall in revenue measures from the original programme objectives. The IMF2 says that…

AI-led taxation

It was famously said by Benjamin Franklin, “In this world, nothing is certain except death and taxes”. Perhaps Benjamin was unaware of the lagging efficient administration, shallow policy orchestrations, and…

Pakistan must change direction

Pakistan’s persistent failure to develop a strong economy and combat growing poverty stems from incompetent governance accompanied by massive corruption at the highest levels, leading to economic collapse, and bringing…

Deal done: what now?

As of September 26, the world owed the IMF $151.13 billion. Pakistan, being the fifth largest debtor of the IMF, owed $8.34 billion which will soon increase to $9.44 billion…

A national CTD?

PAKISTAN has long faced extremism, insurgency and terrorism. After 9/11, a number of legal, administrative and policy interventions were made, but despite the expanded counterterrorism (CT) apparatus, the goals have…