The tax gap
The World Bank has recently released a report which indicates that the potential tax capacity in Pakistan currently stands at as much as 22.3 percent of the GDP. The likely…
FBR’s resistance to tax reforms
Fiscal consolidation should be as growth-friendly as possible. In general, tax base-broadening reforms are identified as growth-oriented reforms. To the extent that they reduce distortions to economic decisions on work,…
From flying taxis to robocops, Dubai as a tech pioneer
From flying taxis to Batman-style surveillance motorcycles, Dubai's GITEX expo this week showcased innovations that were symbols of the city-state's ambitions to be a metropolis of the future. Known for…
Need for income tax law – III
Part 2 - Special Cases 66. (1) Where a person dies, his legal representative or the executor shall be liable to pay any sum, which the deceased would have been…
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…
Tax bailout for economic revival
According to various Press reports, all businesses in Pakistan, as elsewhere, badly hit by lockdown in the wake of Covid-19 epidemic, are demanding a comprehensive tax bailout claiming that loan…
A simple tax bailout
As mentioned in the last column [Tax bailout for economic revival, Business Recorder, April 17, 2020], all businesses—badly hit by lockdown in the wake of Covid-19 epidemic and due to…
Covid-19: economic & tax reliefs
Pakistan is facing the brunt of Coronavirus outbreak as the country is in a partial lock down. This has had a negative impact on businesses. Initial estimates show that the…
Analysing ‘tax expenditure
We don’t do charity in Germany. We pay taxes. Charity is a failure of governments’ responsibilities”—Henning Wehn, a German stand-up comedian The announcement of budget 2020-21 on June 12, 2020…
Taxing solar panels
Pakistan plans to expand its power sector substantially. It has enormous solar photovoltaic (PV) potential and all the necessary conditions for its implementation such as high radiation yield, a regulatory…
