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Tax burdens and fiscal discipline

After an inflation-ridden Fiscal Year 2023-24 (“FY24”), wherein the average inflation for the FY24 was 23.4%, there was some hope that the budget for the FY25 may bring respite to…

The need for tax system reforms

Prime Minister Shehbaz Sharif has a strong connection with the business community, especially with the Lahore Chamber of Commerce, as he has served as its president and is well-acquainted with…

Policies dictate outcomes

Through the ages, there have always been individuals who have had to ask others for help to sustain themselves. Not inherent in human nature, stretching out a hand to a…

OECD, Pakistan & tax evasion

The Organisation for Economic Co-operation and Development (OECD), an international organization dedicated to promoting economic development and cooperation among its member countries, conducts extensive research and analysis on a wide…

Budget: rationalise taxation

On the eve of another ritual exercise of announcing federal budget, official date has yet to be finalised, expected on June 12, 2024, there is a need to re-evaluate tax…

Budget & tax policy

‘The impact of economic growth on the lives of people is partly a matter of income distribution, but it also depends greatly on the use that is made of the…

Taxing the auto industry

Economists of the 20th century believe that a thriving industrial sector is crucial to the development of a modern economy. In 2010, Cambridge economist Ha-Joon Chang observed that development without…

Transparency, taxation & reforms

Macroeconomic conditions have improved over the course of the program. Growth of 2 percent is expected in FY24 given continued recovery in the second half of the fiscal year. The…

Towards a fairer tax system

The World Bank, in its latest report, ‘Pakistan Development Update’, issues a stark warning: in the current fiscal year, the country’s fiscal deficit is projected to skyrocket to a staggering…

Myths about taxation

Do our esteemed finance minister, prime minister, policymakers at the Federal Board of Revenue (FBR), and economic managers know why the tax-to-GDP ratio is significantly higher in developed countries compared…