Study on Tax Expenditures in Pakistan

The problems of high fiscal deficit, high current account deficit, and high inflation faced by the government of Pakistan are linked to Pakistan's weak tax revenue effort. There are concerns that revenue in Pakistan is raised in an inefficient way by favoring certain sectors and economic activities over others. The assessment of tax expenditures is often complicated because reporting and accounting practices fall far short of what is used for official government expenditures, which makes it difficult, if not impossible, to evaluate the cost, efficiency and distributional impact of tax expenditures. The purpose of the study is to undertake a detailed assessment of tax expenditure in Pakistan, including an appropriate definition and methodologies for measuring tax expenditures. Considerable effort is required to develop and establish a suitable framework to identify, measure and critically assess the merits of tax expenditures on an annual basis. Pakistan is committed to increasing the transparency of tax policy by providing detailed estimates of tax expenditures. This paper provides a detailed assessment of tax expenditures in Pakistan, framework, and a methodology for measuring tax expenditures.

Bibliographic Details

Main Authors:	Ahmed, Ather Maqsood, Ather, Robina
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING, ACCOUNTING STANDARD, ACCOUNTING STANDARDS, ADDED TAX, AIR, AIR FREIGHT, AIR TRANSPORT, AIRWAYS, ALCOHOLIC BEVERAGES, AMORTIZATION, ARREARS, AUCTION, AUTOMOTIVE SECTOR, BANKING SERVICES, BENEFICIARIES, BROKERAGE, BUSES, BUSINESS CYCLE, CAPITAL GAINS, CAPITAL LOSSES, CARS, CASH WITHDRAWAL, CASH WITHDRAWALS, CD, CELLULAR PHONE, CELLULAR PHONES, CHARITABLE CONTRIBUTIONS, COMMODITIES, COMPANY TAX, CONCESSIONARY RATE, CONCESSIONARY RATES, CONSUMER LOANS, CORPORATE INCOME TAX, CORPORATE TAX, CREDIT COEFFICIENT, CURRENCY, CURRENT ACCOUNT DEFICIT, DEBT, DEBTS, DEDUCTIONS, DEVELOPING COUNTRIES, DIESEL, DISPOSABLE INCOMES, DIVIDENDS, DOUBLE TAXATION, DOUBLE TAXATION TREATIES, ECONOMIC DEVELOPMENT, ENFORCEMENT MECHANISM, EPZ, EQUIPMENT, EXCISE DUTY, EXCISE TAX, EXCLUSION, EXPORT, EXPORT PROCESSING ZONES, EXPORTER, EXPORTS, FEDERAL TAX, FINANCE CORPORATION, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FISCAL DEFICIT, FISCAL DEFICITS, FIXED ASSETS, FLAT TAX, FOREIGN EXCHANGE, FOREIGN INVESTMENT, FREE TRADE, FREE TRADE AGREEMENT, GOVERNMENT EXPENDITURES, GOVERNMENT SPENDING, GROWTH RATE, HIGHWAY, HOLDING, HOME MORTGAGE, INCOME GROUPS, INCOME TAX EXEMPTION, INCOME TAXES, INCOMES, INFLATION, INPUT TAX, INSURANCE, INTANGIBLE, INTANGIBLE ASSETS, INTANGIBLES, INTEREST EXPENSES, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL STANDARD, INTERNATIONAL STANDARDS, INVENTORY, INVESTMENT TAX CREDIT, JUDGMENT, LACK OF TRANSPARENCY, LEVY, LOAN, LOCAL GOVERNMENT, MACROECONOMIC DATA, MARKET ACCESS, MOBILE PHONE, MOBILE PHONES, MORTGAGE, MORTGAGE INTEREST, MOTOR CAR, MOTOR VEHICLES, MUTUAL FUNDS, NATURAL DISASTER, NEGATIVE SHOCK, OUTPUT, PASSENGER TRANSPORT, PENSION, PENSION CONTRIBUTION, PENSION CONTRIBUTIONS, PENSION FUND, PENSIONS, PETROLEUM PRODUCTS, POLITICAL ECONOMY, PRICE DIFFERENTIAL, PRIZE BOND, PROGRESSIVE TAX, PUBLIC FINANCE, PUBLIC POLICY, PUBLIC SPENDING, RAILWAY, RAPID GROWTH, REAL ESTATE, REBATES, REFORM PROGRAM, REMITTANCES, RENEWABLE ENERGY, RESERVE, RIDER, ROAD, ROYALTIES, ROYALTY, SALE OF GOODS, SALES TAX, SALES TAX RATE, SALES TAX RATES, SECURITIES, SHIPPING CONTAINERS, SHOCK TO INCOME, SINGLE TAX, STATE BANK, STOCK EXCHANGE, STOCK MARKET, STRUCTURAL PROBLEMS, SUNSET CLAUSE, TAX, TAX ADMINISTRATION, TAX BASE, TAX BASES, TAX COLLECTION, TAX COLLECTIONS, TAX COMPLIANCE, TAX CONCESSIONS, TAX CREDIT, TAX CREDITS, TAX DEDUCTIBLE, TAX DEFERRAL, TAX EVASION, TAX EXEMPTION, TAX EXEMPTIONS, TAX EXPENDITURE, TAX EXPENDITURES, TAX FREE, TAX LAW, TAX LAWS, TAX LIABILITIES, TAX LIABILITY, TAX MEASURES, TAX PAYERS, TAX POLICIES, TAX POLICY, TAX PREFERENCES, TAX PROVISION, TAX PROVISIONS, TAX RATE, TAX RATES, TAX RECEIPTS, TAX REFORM, TAX REGIME, TAX RETURN, TAX RETURNS, TAX REVENUE, TAX REVENUES, TAX SALES, TAX STRUCTURE, TAX SYSTEM, TAX TREATMENT, TAXABLE INCOME, TAXATION, TAXPAYER, TAXPAYERS, TOLL, TRADE DEFICITS, TRADE FINANCE, TRADING, TRANSPARENCY, TRANSPORT, TRANSPORT SERVICES, TRANSPORTATION, TRUCKS, TRUSTS, TURNOVER, VEHICLE, VEHICLES, VENTURE CAPITAL, VENTURE CAPITALS, WITHDRAWAL, WITHHOLDING TAX, WITHHOLDING TAXES, WORLD ECONOMY,
Online Access:	http://documents.worldbank.org/curated/en/2014/01/19407058/study-tax-expenditures-pakistan https://hdl.handle.net/10986/18671
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