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Tax targets versus tax gap — II

The State should not collect advance taxes from those who are not chargeable to tax. Provisions like section 236 of the Income Tax Ordinance, 2001 along with many other similar…

Tax targets versus tax gap — II

The State should not collect advance taxes from those who are not chargeable to tax. Provisions like section 236 of the Income Tax Ordinance, 2001 along with many other similar…

Tax targets versus tax gap—I

“…the FBR’s revenue target has been increased to Rs 9,415 billion, requiring a 31% increase over collection of Rs 7,180 billion in the recently concluded financial year… The task seems…

FBR: Dwindling tax collection

Pakistan has one of the world’s lowest tax ratios, stemming from five main weaknesses: complexity, a narrow tax base, low compliance, inefficient tax administration, and low and declining provincial tax…

Targets in the PML-N manifesto

The manifesto of the Pakistan Muslim League-Nawaz (PML-N) contains a set of key macroeconomic targets from 2023-24 to 2028-29. This is the five-year duration of any newly elected government after…

Bridging the huge tax gap

The new coalition federal government will soon be in power, after controversial elections of February 8 2024, allegedly marred with post-voting manipulated results to favour the favourite. These were the…

Growth in federal tax revenues

The Federal Board of Revenue (FBR) has released recently the Revenue Division Year Book for 2022-23. This is a very useful publication and highlights the trends in the level and…

IMF programme targets

A typical IMF (International Monetary Fund) programme, including a Stand-by Facility, has a set of quantitative performance criteria, indicative targets and structural conditionalities. These represent targets in different key areas…

FBR, IMF & revenue targets

The federal budget for fiscal year (FY) 2022-23 assigned an ambitious target of Rs. 7.470trillion to the Federal Board of Revenue (FBR), which includes both direct and indirect taxes. The…