Analysis of income tax reforms: Implementation and results

Abstract

The government of Pakistan has always faced the problem of generating adequate revenues to meets its administrative management requirements, and have some funds for economic development. One of the major sources or revenues in Pakistan is the Income Tax. The present study has been undertaken to study and analyze the reforms introduced by the Government and the Central Board of Revenue to overcome the above mentioned problem. This study will also determine the outcomes of these reforms and recommend other measures to further strengthen the Income Tax Department and Tax collection. The study is descriptive in nature using quantitative data where needed. It is based on secondary data collected from the Central Board of Revenue, Annual Reports of The State Bank of Pakistan, Economic Survey of Pakistan, and various newspaper articles.