Taxes, social services, gender & equality on August 8, 2021The United States government, through the U.S. Agency for International Development (USAID), today [June 24, 2021] launched the Women’s Economic Empowerment Activity (WEEA). This five-year initiative supports the Government of Pakistan’s efforts to promote women’s social and economic empowerment through safe and dignified access to income opportunities, information, resources, and services—For more information on USAID […]
IMF’s programmes & tax reforms on July 25, 2021According to a press report, the International Monetary Fund (IMF) is looking forward to continuing discussions with the Pakistani authorities on the set of policies and reforms that could form the basis for completion of the sixth review under the $6-billion Extended Fund Facility (EFF). This was stated by the IMF resident representative, Ms. Teresa […]
Inflation is taxation without legislation on July 18, 2021“Inflation is taxation without legislation—Milton Friedman—Editorial of November 11, 2009, in Wall Street Journal, titled, Taxation without Legislation The budget for the fiscal year 2020-21 was made amidst very difficult times when the country was suffering immensely—in terms of human casualties and economic hardships. It was claimed by the coalition government of Pakistan Tehreek-i-Insaf (PTI) […]
Lower & predictable taxes for growth on July 11, 2021The outdated and oppressive tax structures at federal and provincial levels have created further fiscal mess and how come out of it is discussed in Towards Flat, Low-rate, Broad and Predictable Taxes (PRIME Institute, Islamabad, published in December 2020, available free at: https://primeinstitute.org/towards-flat-low-rate-broad-and-predictable-taxes/). A webinar on this book was held on July 10, 2021 hosted […]
Will USA regain its lost legacy? on July 4, 2021July 4, 1776 has special significance in American history. The great liberation movement against colonial rule was pioneered in this land and founding-fathers of this historic struggle showed the subjugated nations a novel path of hope. They started a new beginning of self-rule. It took a couple hundred years for American society to struggle on […]
FATF & collective failure on June 27, 2021It is shocking that only two political parties filed income tax returns for tax year 2020 out of 27 registered with FBR and 127 with Election Commission of Pakistan despite section 114(1)(ac) of the Income Tax Ordinance, 2001 makes it mandatory. How can we expect rule of law in Pakistan, when 125 political parties are […]
Finance Bill and constitutional contraventions on June 20, 2021The Finance Bill, 2021 proposes a highly lamentable and unconstitutional amendment. In effect, it provides that the aggrieved taxpayer will have to deposit 100 percent of the demand upheld by any appellate authority prior to exercising the right to appeal before the next available forum under the Income Tax Ordinance, 2001 [“the Ordinance”]. The adjudicating […]
Not a people’s budget on June 13, 2021Fixing of unachievable tax target for the FBR represents continuation of past legacies that relied on ill-directed, illogical, regressive and unfair taxes. Such skewered approach has a proven record of dampening industrial and business growth. Whereas — in the negative economic aftermath of Covid — Pakistan needs to do just the opposite In document titled, […]
Budgets of, by and for the elites on June 6, 2021Like every one of Pakistan’s budget, the latest one, expected on June 11, 2021, will likely be more of the same. That is, burdening the common people, appeasing the mighty, not withdrawing benefits available to the rich and following the dictates of lenders and donors. The majority of experts are not surprised. After all, beggars […]
Provinces and unconstitutional taxation on May 30, 2021Any provincial assembly that imposes legislation that includes levy of any tax or duty — yielding extra-territorial impact and involving entities operating on trans-provincial — patently contravenes Article 141 of the Constitution. Similarly, any National Legislative Assembly that encroaches upon the rights of provinces in violation of Article 142 of the Constitution will be ultra […]