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Last update: Fri, 29 Apr 2016 05pm
 

Articles and Letters

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Tax proposals for Budget 2016 - 17 Need for new tax model

Published on April 29, 2016These days, Federal Board of Revenue (FBR) is reportedly consulting (sic) all the stakeholders to consider only such proposals that can increase "revenues" (hopefully for the State) in the coming fiscal year. This ritualistic exercise every year brings more miseries for common Pakistanis and more hurdles for businessmen. Neither has FBR succeeded in bridging the monstrous, ever-increasing fiscal deficit by tapping the real tax potential, nor is any meaningful change offered in tax policy to help the economy to grow at a faster pace to bring prosperity for all. Tax is a by-product of growth. The government should concentrate on growth that would automatically increase taxes. For this we need a new tax model.Read full story

Guilty until proven innocent

Published on April 29, 2016Instead of taking the high road, using the opportunity to deal pragmatically with the "Panama Leaks" explaining how and why his family's offshore companies and accounts thereof had come into existence, PM Mian Nawaz Sharif (MNS) seriously disappointed the nation by choosing to go the "fog of politics" route. Instead of exercising good sense he spent the better part of his April 22 televised speech alternatively feigning innocence and being belligerent about what is an international expose and not a home-grown conspiracy as he and his aides insist on implying. By clear inference, if not by name, he targeted Imran Khan, the Army and the Judiciary in that order. Going after Shaukat Khanum Hospital, which is doing a magnificent work in bringing cancer treatment within the reach of the common man, was in bad taste. Some of MNS' aides don't have either good taste or good manners but MNS himself is a decent human being and so are a fair number of his aides, why are they being vociferously "more loyal than the king"?Read full story

Ireland fears major impact if Britain votes to leave EU

Published on April 29, 2016Irish exporters, British-based Irish citizens and the Irish government all worry that a Brexit, or British exit from the EU, could harm their interests and jolt the country's economy. With its close political, trade and cultural links to its nearest neighbour, no country is set to lose more than Ireland if Britain leaves the European Union. "A British exit from the EU would send Ireland, Britain and Europe into uncharted and treacherous waters," says Danny McKoy, head of the Irish Business and Employers' Confederation, Ibec.Read full story

PARTLY FACETIOUS: How about some offshore money!

Published on April 29, 2016"You reckon the cricket board is mirroring the cabinet."Read full story

Taxing tobacco

Published on April 29, 2016Consider the fact that every fourth cigarette sold in Pakistan is sold illicitly. It comes as no surprise then that the Federal Board of Revenue (FBR) recently ran an ad in all major daily papers asking people to 'Say no to smuggled/non-duty paid cigarettes'. What was surprising about the advertisement, however, was that it did not feature any of the popularly smuggled brands responsible for illicit sales.Read full story