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FY23: The budget

Friday 10 June the budget for 2022-23 is scheduled to be laid before parliament by the unelected though a PML-N stalwart finance minister, Miftah Ismail, who will have the honour…

Anti-money laundering regulations and fiscal laws – I

General perception about money laundering 'Money laundering' in general sense means, actions and processes of projecting money acquired as proceed of crime as untainted money. This subject gained international significance…

Countering financial crimes

In recent days, Federal Board of Revenue (FBR) has taken many steps to enforce internal accountability mechanism to uproot corruption/malpractices within the organisation. The steps like making Chief Commissioners as…

Restructuring of tax system: a blueprint

“A comprehensive strategy had been formulated to shift the gear and move to higher economic growth. I do not believe in increase in taxes to increase revenue collection but those outside…

SDRs: Allocation, reallocation, and fiscal usage

Writing in the wake of the Global Financial Crisis (GFC) in 2009 in a Project Syndicate published article ‘The new IMF’, the then executive director of the International Monetary Fund…

Naked ambition

India's newly enunciated "Joint Armed Forces Doctrine" envisaging force projection beyond its borders mandates that the three services, Army, Navy and Air Force will fight as an integrated force. Calling…

Budget 2017-18: In the same old mould!

Majority of the Pakistanis would certainly be dejected after hearing the budget speech of Ishaq Dar today (May 26, 2017). Not because there will be no relief for the poor…

Restructuring of tax system: a blueprint

“A comprehensive strategy had been formulated to shift the gear and move to higher economic growth. I do not believe in increase in taxes to increase revenue collection but those outside…

FBR, tax potential & enforcement – II

The real significance is quantum of the incremental tax received due to growth in the number of tax filers. FBR inYear Book 2018-19 [page 10] claims that the income tax…

Benefits of digitizing documents

The puzzle of documentation is not getting solved. The cash (or more broadly the informal) economy is growing despite government efforts to put curbs on it. Evidently, the government has…