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Travel Restrictions On US Tax Defaulters

Travel restrictions on US tax defaulters

US tax authorities started the new year with a renewed resolution to fight tax evasion with stricter regulations, including travel restrictions on tax defaulters. On January 01, 2016, a new…

Recouping tax losses judiciously — III

The tax system that will work smoothly for Pakistan, keeping in view our peculiar socio-economic circumstances and mindset of masses, must be a flat rate with no compliance hassles. All…

There’s need for new tax model

The outdated and oppressive tax structures at federal and provincial levels, wasteful expenses, mounting debt servicing and annual tax expenditure of over Rs one trillion have created fiscal instability since…

100-day tax reforms agenda

The administrative burden of tax compliance is hardest in Pakistan where firms have to make 47 payments and spend 594 hours (or 74 man days per year) dealing with tax…

The corrupt, tax cheats, ‘secrecy’ & RTI — II

The passing of Foreign Assets (Declaration and Repatriation) Act, 2018, the Voluntary Declaration of Domestic Assets Act, 2018, promulgation of the Assets Declaration Ordinance, 2019 and later enacted as the…

Taxes For Growth – II

Taxes for growth – II

money and tax evasion has always been a failure in Pakistan. The study, What is hidden, in the hidden economy of Pakistan? size, causes, issues and implications, by Ahmed Gulzar,…

Loan Write-offs And Tax Losses

Loan write-offs and tax losses

Colossal revenue losses have been caused to national exchequer by the Federal Board of Revenue (FBR) and National Accountability Bureau (NAB) by not taking action against the beneficiaries of politically-motivated…

Budget 2013-14: No will to tax the rich

By just tinkering with tax rates here and there and imposing or enhancing regressive taxes - fixing revenue collection target at Rs 2598 billion for fiscal year 2013-14 - the…

Highly Controversial Tax Scheme

Highly controversial tax scheme

The PML-N government on last Friday, as a new year's gift to the chronic tax evaders, announced yet another scheme which will facilitate traders and alike, who haven't as yet…

Flat-rate Taxation: Alternate Solution – II

Flat-rate taxation: Alternate solution – II

The new paradigm Under the afore-stated situation of lawlessness, a fresh approach and a renewed policy are urgently needed measures to replace the entire taxation system for fiscal consolidation and…