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Punjab Agricultural Income Tax (Amendment) Bill 2024

The Punjab Agricultural Income Tax (Amendment) Bill 2024 is a significant legislative initiative aimed at modernizing and broadening the agricultural taxation framework in Punjab the Punjab government has passed the…

Determining fair income tax base

According to the latest data available on the website of Pakistan Telecommunication Authority (PTA), as on December 31, 2023, total number of SIMs issued was 189 million (78.93% mobile teledensity);…

Taxing foreign rental income

Investment in foreign properties by a specific section of society in Pakistan has been a pretty common phenomenon, especially in countries like the UAE, UK and so on. Naturally, the…

FBR: dismal income tax collection

The continuously declining dismal share of income tax in overall tax collection during the last many years testifies to the lack of judicious balance between direct and indirect taxes, resulting…

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…

Taxing what is not ‘income’— I

It is a cardinal principle that what is not “income” cannot be taxed under the income tax law (presently in operation is Income Tax Ordinance, 200I]. In Pakistan, a misconception…

Taxing what is not ‘income’—II

In the Shahid Pervaiz v Ejaz Ahmad and others 2017 SCMR 206, 14-member bench of Supreme Court held: “….where the Supreme Court deliberately and with the intention of settling the…

Need for new income tax law — I

When the government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, we, amongst many others, opposed it strongly. Our main objection was that his…