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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…

Tax misconceptions

There has been no prime minister during the past three decades who has not blamed poor macroeconomic performance on those who do not pay taxes - tax evaders who are…

FBR — making tax digital and beyond (II)

The top global trend at the moment is continuous transaction control-CTC aiming to close VAT gaps, increase revenue and have more control over data. CTC regimes however, is not uniform…

Self-serving laws – II

On announcement of judgement on June 1, 2018, however, the ECP took diametrically opposite stand and decided to challenge the judgement in the Supreme Court. The federal government as well…

Self-serving laws – I

Uninterrupted decade of democracy [2008 to 2018], unprecedented in our political history entailing smooth transfer of power to elected representatives, according to the Constitution, is an occasion for national jubilation…

The Merger and tax issues

The passage of Constitution (Thirty-first Amendment) Act, 2018 ["31st Constitutional Amendment"] by Senate and National Assembly, its adoption by the Assembly of Khyber Pakhtunkhwa [by vote of 92 to 7]…

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…

AML regulations and fiscal laws – II

In the first article on this subject published on September 9, 2017 the relevance and changed perspective of anti-money laundering (AML) in today's world was briefly discussed. That article restricted…

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…

Need for new income tax law — II

The administration of a tax system is highly complex. No doubt, a proper bureaucratic input is vital for making the system successful, but it is equally necessary to take all…