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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…

History of taxation: a perspective

Taxes are share of state in income, production and consumption and never liked by individuals or corporate bodies. However, they have very important role in economic development and income redistribution.…

Taxation power and democracy

In the wake of an apparent economic crisis, caused by multiple reasons, particularly a killing self-inflicted political instability, myopic economic policies of last seven decades, unthoughtful actions and measures taken…

Services’ & immovable property income taxation

The taxation of “services” mentioned in section 153(1)(b) of the Income Tax Ordinance, 2001 [“the Ordinance”] with effect from tax year 2020 is subjected to “minimum tax regime” in cases…

Taxation sans constitutionalism

"The Constitution is supreme and each organ of the state has to perform its duties and functions in accordance with the constitutional scheme.... An official action or act, which violates…

Landmark SC Judgement: No Taxation By Executive

Landmark SC Judgement: No taxation by executive

The landmark judgement by the Supreme Court [Civil Appeals 1428 to 1436/2016] has once again vindicated our point of view, frequently highlighted in these columns, that power of levying taxes…

Taxation For Welfare

Taxation for welfare

In Pakistan ironically, the less-privileged are subjected to heavy and cruel taxation to finance the luxuries of militro-judicial-civil complex and politicians-who enjoy free perquisites, benefits, including expensive plots at prime…