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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…

Taxation and inflation

The Federal Board of Revenue (FBR) has claimed collection of net revenue of Rs4,493 billion in the first eight months of the current financial year against Rs3,820 billion collected in…

Taxation of immovable property

The National Assembly through the Finance Act 2012 amended section 37(5) of the Income Tax Ordinance, 2001 [“the Ordinance”] and for the first time levied capital gains tax (CGT) on…

Fixing the taxation system – Part III

One of the pernicious side-effects of a large dose of the federal divisible tax pool injected into the provincial finances is that the provinces have become slack in mobilizing their…

A failed model

Millions in Pakistan are feeling the pain of a deepening economic crisis. The working and lower middle classes in Pakistan and around the world have spent most of the year…

Fixing the taxation system – Part II

Studies on sectoral incidence show that industry bears more than two-thirds of the tax, while the services sector bears about 21 per cent and agriculture 3.0 per cent. In the…

Fixing the taxation system – Part I

Very few people outside the economics profession realize that fiscal (government revenue and expenditure) and current accounts (inflows and outflows of foreign exchange) are closely interlinked. A current account is…