Taxation and inflation
The Federal Board of Revenue (FBR) has claimed collection of net revenue of Rs4,493 billion in the first eight months of the current financial year against Rs3,820 billion collected in…
Why do all roads lead to more taxes?
As a staff-level agreement between IMF (International Monetary Fund) and Pakistan following the ninth review of the IMF programme inches ever closer, the government recently announced the Supplementary Finance Bill,…
Taxation of immovable property
The National Assembly through the Finance Act 2012 amended section 37(5) of the Income Tax Ordinance, 2001 [“the Ordinance”] and for the first time levied capital gains tax (CGT) on…
Fixing the taxation system – Part IV
Among many compelling reasons for further devolution to the third tier is that citizens in a local jurisdiction are found to pay more taxes as they see that these are…
Fixing the taxation system – Part III
One of the pernicious side-effects of a large dose of the federal divisible tax pool injected into the provincial finances is that the provinces have become slack in mobilizing their…
Fixing the taxation system – Part II
Studies on sectoral incidence show that industry bears more than two-thirds of the tax, while the services sector bears about 21 per cent and agriculture 3.0 per cent. In the…
Taxation beyond revenue
The Federal Board of Revenue earlier announced having successfully exceeded its revenue collection target for the month of November -- and hence having collected surplus revenue in the first five…
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.…
Harmonizing the sales tax
The 18th Amendment to the constitution had a profound impact on the legal and political framework of the country. Among other measures leading to the long-awaited provincial autonomy, the amendment…
Deconstructing the property tax
One of the significant measures to meet the demands of the International Monetary Fund is the tax revenue target of Rs7,004 billion of the Federal Board of Revenue for FY2022-23,…
