A technical team from the International Monetary Fund (IMF) will visit Pakistan on April 14, 2025. The team will meet with officials from the Federal Board of Revenue (FBR). They will discuss taxation proposals for the upcoming budget of 2025-26. Media reports indicate that the talks will focus on expanding the country’s narrow tax base. […]
tax system
Whitening schemes: failure of tax system
The Government of Pakistan Tehreek-i-Insaf (PTI) has finally notified its first asset/income/expenditure whitening scheme-Assets Declaration Ordinance, 2019.Promulgated as Presidential Ordinance on May 14, 2019, the scheme gives generous incentives to those who have not been paying their taxes honestly, concealing and/or understating assets/incomes/sales/expenses and cheating the State. This is, no doubt, an open admission of […]
Fix the fragmented tax system
Pakistan needs a paradigm shift in the existing tax policy and revamping of entire tax administration-establishment of a National Tax Authority [NTA], capable of generating sufficient resources for the federal and provincial governments, must be the top priority. Through democratic process, all the provincial parliaments can under Article 144 of the Constitution of Islamic Republic […]