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FBR: Dwindling tax collection Jan 06, 2023

Pakistan has one of the world’s lowest tax ratios, stemming from five main weaknesses: complexity, a narrow tax base, low compliance, inefficient tax administration, and low and declining provincial tax…

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…

Fixing the taxation system – Part I

Very few people outside the economics profession realize that fiscal (government revenue and expenditure) and current accounts (inflows and outflows of foreign exchange) are closely interlinked. A current account is…

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…

Single national conundrum

In August 2021, schools across Pakistan reopened their doors to millions of children who had been at home for almost 18 months. The excitement of returning to schools, for many…

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 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 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…