Seeking refunds from tax department
The issues relating to refunds and that too from govt departments are a common cause. Unfortunately such disputes linger on for years as the state functionaries are very hesitant to…
Low taxation of property
The recent revelation of massive investment in property by Pakistanis in Dubai of over $11 billion has not only raised issues of the exit of capital from Pakistan but also…
Subject of taxation on farm income
This article discusses the issue of availability of food for the poor at affordable prices, economics of agriculture and the misperception about the potential collection of tax on income from…
Improving tax compliance
The caretaker government has set up a tax reforms taskforce to come up with recommendations to close the ‘tax gap’ due to weak compliance, without requiring any additional tax policy…
Super tax and tax on bonus: misinterpretation of basic accounting–II
Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super tax levied by the Finance Act, 2022 will be applicable for…
Tax on undistributed reserves
This is not the first time that there is a proposal to tax undistributed reserves of a company. Such imposition has been attempted at least twice before under sections 12(9A)…
Taxation beyond revenue
The Federal Board of Revenue earlier announced having successfully exceeded its revenue collection target for the month of November -- and hence having collected surplus revenue in the first five…
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…
Analysing ‘tax expenditure
We don’t do charity in Germany. We pay taxes. Charity is a failure of governments’ responsibilities”—Henning Wehn, a German stand-up comedian The announcement of budget 2020-21 on June 12, 2020…
Harmful taxation of IT/telecom sectors
The Pakistan telecom sector contributes steady inflow of heavy tax collections under major heads like Activation Tax, GST/FED, the PTA fee & charges and others. The PTA has been advocating…
