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No room to manoeuvre

Even though the prospects of stable governance are far and bleak, the government must keep running and soon there will be chatter surrounding the budget. He who sits on the…

Aurangzeb has his work cut out for him

In understanding the nation’s economy, there’s a clear distinction between an economist serving as the finance minister and a commercial banker taking the helm at the exchequer. An economist in…

Attacks on the NFC Award

There have recently been some attacks on the 7th NFC award relating to the distribution of federal tax revenues between the federal and provincial governments. This process of distribution is…

None of the above

Pakistan’s election has confounded pundits’ expectations about the outcome. The result was a clear indication that the status quo was no longer acceptable to a large section of voters who…

Endless wait for a plan

THERE is no doubt that the first few years of this third decade of the 21st century have been filled by unexpected calamities across the continents. Covid-19 dealt such a…

Non-disclosures & underperformance

Ever year Federal Board of Revenue (FBR) as Revenue Division of Ministry of Finance (MoF), issues data relating to collection of taxes and duties it administers, with an analysis highlighting…

IMF review & state of economy

I expect an agreement on the review to come within this week, so, any day now. I can say that Pakistani authorities, the Minister of Finance, they deserve credit for…

Improving tax compliance

The caretaker government has set up a tax reforms taskforce to come up with recommendations to close the ‘tax gap’ due to weak compliance, without requiring any additional tax policy…

Tax targets versus tax gap — II

The State should not collect advance taxes from those who are not chargeable to tax. Provisions like section 236 of the Income Tax Ordinance, 2001 along with many other similar…