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pakpolicy2

pakpolicy2

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July 2009Document of the World BankReport No. 50078-PK
PakistanTax Policy Report
Tapping Tax Bases for Development
(In Two Volumes) Volume II: Full Report
The World Bank The Government of Pakistan Federal Board of Revenue Georgia State University
   P  u   b   l   i  c   D   i  s  c   l  o  s  u  r  e   A  u   t   h  o  r   i  z  e   d   P  u   b   l   i  c   D   i  s  c   l  o  s  u  r  e   A  u   t   h  o  r   i  z  e   d   P  u   b   l   i  c   D   i  s  c   l  o  s  u  r  e   A  u   t   h  o  r   i  z  e   d   P  u   b   l   i  c   D   i  s  c   l  o  s  u  r  e   A  u   t   h  o  r   i  z  e   d
 
 i 
T
ABLE OF
C
ONTENTS
 
Chapter 1: Tapping Tax Bases for Development ................................................................................................... 1
 1.1 Introduction ..................................................................................................................................................... 11.2 Spending for Results ....................................................................................................................................... 21.3 Unsustainable Fiscal Deficits and Unreliable Non-Tax Revenues ................................................................. 31.4 Tapping Tax Bases .......................................................................................................................................... 51.5 Scope ............................................................................................................................................................... 71.6 Process ............................................................................................................................................................ 8
Chapter 2: National Tax Policy Reform ................................................................................................................. 9
 2.1 Introduction ..................................................................................................................................................... 92.2 General Sales Tax ......................................................................................................................................... 112.3 Corporate Income Tax ................................................................................................................................... 132.4 Individual Income Tax .................................................................................................................................. 152.5 Federal Excise Duties ................................................................................................................................... 192.6 Customs Duties ............................................................................................................................................. 202.7 Provincial Taxation ....................................................................................................................................... 212.8 Way Forward ................................................................................................................................................. 222.9 What Next? ................................................................................................................................................... 29
Chapter 3: Structural Properties ........................................................................................................................... 30
 3.1 Introduction ................................................................................................................................................... 303.2 Adequacy ...................................................................................................................................................... 323.3 Efficiency ...................................................................................................................................................... 403.4 Equity ............................................................................................................................................................ 433.5 Compliance ................................................................................................................................................... 493.6 Policy Reform ............................................................................................................................................... 52
Chapter 4: General Sales Tax ................................................................................................................................ 53
 4.1 Introduction ................................................................................................................................................... 534.2 Non-Neutrality .............................................................................................................................................. 554.3 Weak Legal Vessel ........................................................................................................................................ 614.4 Equity ............................................................................................................................................................ 624.5 Compliance ................................................................................................................................................... 634.6 Policy Options ............................................................................................................................................... 67
Chapter 5: Corporate Income Tax ........................................................................................................................ 68
 5.1 Introduction ................................................................................................................................................... 685.2 Tax Design and Revenue Trends .................................................................................................................. 705.3 Tax Incentives ............................................................................................................................................... 735.4 Withholding Taxes ........................................................................................................................................ 765.5 Small Companies .......................................................................................................................................... 805.6 International Tax Provisions ......................................................................................................................... 815.7 Equity ............................................................................................................................................................ 835.8 Compliance ................................................................................................................................................... 845.9 Policy Options ............................................................................................................................................... 87
Chapter 6: Individual Income Tax ........................................................................................................................ 89
 6.1 Introduction ................................................................................................................................................... 896.2 Towards a Global Income Tax ...................................................................................................................... 926.3 Capital Gains ................................................................................................................................................. 93

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