Climate finance ecosystem
PAKISTAN’S climate finance ecosystem is informal and unfolding. It has not been fully operationalised or coordinated, let alone synchronised with climate action. In fact, policymakers are still grappling to define…
Is TTS game changer against tax evasion or another missed opportunity?
Pakistan’s economic stability hinges significantly on its ability to curb tax evasion and illicit trade. One of the initiatives in this regard is the Federal Board of Revenue’s (FBR’s) Track…
Fixing taxation
AN essential component of any progressing economy is the taxation system. However, Pakistan’s tax regime is grappling with issues often faced by developing economies: low compliance, inefficiencies, and a narrow…
How the ADR tax distorts the financial sector
The tax on Advance-to-Deposit Ratio (ADR) was introduced through the Finance Acts of 2021 and 2022 approved by Pakistan’s National Assembly and these provisions are being enforced by the Federal…
Unholy taxation
As Prime Minister Shehbaz Sharif’s government races to meet its promises to the IMF for revenue collection, Islamabad’s power corridors are buzzing with novel ideas to meet that goal. In…
Budgetary system & fiscal governance
Pakistan’s budget process, while clearly defined in the 1973 Constitution, subordinate legislations like the Public Financial Management Act (PFMA), 2019 and guided by detailed manuals e.g. Budget Manual 2020, suffers…
Punjab Agricultural Income Tax (Amendment) Bill 2024
The Punjab Agricultural Income Tax (Amendment) Bill 2024 is a significant legislative initiative aimed at modernizing and broadening the agricultural taxation framework in Punjab the Punjab government has passed the…
Countering sales tax frauds
Globally, tax crimes have always been a significant threat to economic stability and governance. These offences that include tax evasion, fake invoicing, refund fraud, and misreporting of income, lead to…
Tobacco taxes – treaties, tensions, and trends
Pakistan faces a pressing need for a sustainable tobacco taxation policy, particularly as tobacco use imposes severe health and economic burdens on the country. With over 160,000 deaths annually due…
People vs the system
MUCH will be written about the budget’s specifics, but there is something else on my mind this year. This budget marks nearly a quarter century of back-to-back, virtually nonstop IMF programmes that Pakistan…
