New Delhi, June 8 (IANS) Pakistan’s Federal Board of Revenue (FBR) has announced a massive revenue shortfall of close to Rs 684 billion during the first 10 months of the current financial year, raising concerns over the country’s fragile economy, according to a report in Maldives Insight.“As Pakistan struggles with inflation, debt obligations and repeated International Monetary Fund scrutiny, the revenue crisis has become far more than a bureaucratic failure. It now sits at the centre of t…
Latest Tax Reform News & Updates
Washington, May 2 (IANS) US President Donald Trump on told a crowd of seniors in Florida that his administration has effectively delivered “no tax on Social Security,” framing it as a central pillar of his economic and political pitch ahead of midterm elections.Addressing residents at The Villages, one of the largest retirement communities in the United States, Trump said, “we’re here to celebrate a policy that benefits every American senior all across this land, and it’s called no tax on …
New Delhi, April 26 (IANS) The Pakistan government and its military chief, Field Marshal Asim Munir, have, as part of their propaganda campaign to woo the US, been presenting the country’s mineral wealth as a source of unlimited riches ready to be reaped at short notice, but the ground realities are far more complex.The official yearbook of Pakistan’s Ministry of Energy has long catalogued copper, gold, coal, iron ore, chromite, limestone, marble, gypsum, and gemstones as part of the country…
New Delhi, March 1 (IANS) Pakistan will either confront deep structural weaknesses such as tax narrowness, energy inefficiency, and elite capture of its government or face a brittle economy and thinner social cohesion by 2031, a new report has said.The report from Business Recorder said half‑hearted reforms could leave average annual GDP growth hovering around 2–3 per cent over the next five years, barely above population growth, amounting to stagnation, the report said.”Stagnation, in a you…