Compliance requirements under FATCA
There is inherent difference between the character of compliance regarding AML and FATCA, as one is binding on the countries whereas the other will be implemented through mutual treaties/agreements creating…
A frank assessment
While briefing a select group of economic journalists on the eve of their precipitate departure from Pakistan, the visiting mission chief of the IMF shared frank assessments of Pakistan’s economy.…
Terror and the law
The criminal justice system of Pakistan stands on three pillars: investigation, prosecution and the judiciary. In a case registered under the Anti-Terrorist Act (ATA), 1997, the trial courts are the…
ECP: a case of acquired helplessness
For any system to survive, it must fulfil at least two minimum requirements. Meet the needs of its customers and have the capacity to improve itself. The first requirement relates…
Save the system
We must save the system. So agree Nawaz Sharif and Maulana Fazalur Rehman, Asif Zardari and Munawar Hassan, the Skipper, the Chaudhrys of Gujrat and the Khans of Charsadda. The…
School throws safety net to hungry Portuguese kids
It is hard to picture the scene in 21st-century Europe, but as debt-ridden Portugal heads into a new year of economic crisis, schools are stepping in to feed children who…
Shadow economy
A recent BR Research analysis points towards alarming growth in Pakistan's shadow economy. The story titled 'The shadows are growing longer' (published: 10 January 2013) estimated that the country's informal…
Role of qualified intermediary agreement in US taxation system
Qualified intermediary agreement represents a new withholding tax system by which foreign financial institutions, or foreign branches of a US financial institution, can receive favourable withholding tax treatment. This system…
Jobs for votes
As the story goes, a distant relation of a nawab once begged him for a job. The nawab, in his infinite generosity appointed him head of the treasury. When it…
New bailout package
The government, at the fag end of its tenure, has reportedly invited International Monetary Fund (IMF) for negotiating a three-year bailout programme. It is a rather surprising move, especially its…
