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…
History of taxation: a perspective
Taxes are share of state in income, production and consumption and never liked by individuals or corporate bodies. However, they have very important role in economic development and income redistribution.…
Taxing traders
Pakistan’s economy has, over the years, transitioned towards a services-oriented economy, with services making up 58 per cent of total GDP, largely due to underinvestment in both the manufacturing and…
The tax gap
In a recent disclosure, the Chairman Federal Board of Revenue (FBR) admitted that tax gap of Pakistan is Rs 3,000 billion. According to a press report, he said that this…
Reforming tax system
Tax reform is a policy implementation by the government through which a few alterations are made to the tax system in order to overcome the loopholes and enhance the effectiveness…
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…
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…
Allama Iqbal on equitable taxation
In this article, we are highlighting the ideas of the great thinker, philosopher and poet, Allama Muhammad Iqbal, on economics and taxation. He is popularly praised and acknowledged as Musawwir-e-Pakistan…
Culture of licences, permits & NOCs
In these times when countries around the globe are competing to excel in economic growth, perhaps, none of them has a culture riddled with so much application of licences, permits…
