FBR: dismal income tax collection
The continuously declining dismal share of income tax in overall tax collection during the last many years testifies to the lack of judicious balance between direct and indirect taxes, resulting…
Growth in FBR revenue
The revenue collection target set for FBR in 2022-23 is Rs 7,470 billion, equivalent to 8.9% of the projected GDP, following an agreement with the IMF (International Monetary Fund). 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.…
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,…
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…
Can a super tax tackle poverty?
The incumbent government has imposed a 10 per cent direct tax in the form of a ‘super tax’ on large-scale profitable industries, and labeled the new levy as a “poverty…
Taxing extreme wealth
On April 25, Twitter’s board of directors announced an agreement to sell the company to Elon Musk, the world’s wealthiest person, for $44 billion. That sounds like a lot of…
Taxing the taxed
Every government comes up with a mantra of documenting the undocumented, and taxing the untaxed, but due to lack of imagination, inability to take decisions, and unavailability of political capital…
Super tax on banking industry – is it wise?
Demanding higher returns on government treasury bills is nothing unusual. It is the right of the banks (and in fact any business entity) to maximize profits in a legal and…
