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Angelina Jolie is sure to get treated like a queen by her six adorable children on Mother’s Day

ISLAMABAD: The Federal Board of Revenue (FBR) has drafted tax proposals for Budget 2020-21 mainly focusing on “simplification of laws and removing tax anomalies,” Dawn has learnt from knowledgeable sources.

Unconfirmed reports are that the government is likely to announce a ‘tax-free budget’, an official in the FBR told Dawn, adding a final decision will be taken after consulting with the International Monetary Fund (IMF) after Eidul Fitr.

Also read: Govt, IMF agree to put on hold $6bn programme

Meanwhile, Finance Adviser Abdul Hafeez Shaikh has already termed the next year budget a ‘corona-budget’.

It will depend on the IMF whether it considers Pakistan’s proposal to lower tax target for TY21. The Fund had proposed a tax target of Rs5.1 trillion for the next year, which is higher by 30pc from the FY20’s proposed collection.

Consultation with IMF after Eidul Fitr

For the current year, the IMF has lowered the FBR tax target to Rs3.9tr, from Rs4.8tr to subside the impact of Covid-19 on businesses. However, achieving this benchmark also depends on the revival of activity before and after Eid and the entire June, the official added.

Another senior tax official told Dawn that the Fund officials meeting with Pakistani economic team will determine the direction of the next budget whether it will be tax-free or have some taxation to achieve the following year’s target.

The official said the FBR has already completed its homework on budget proposals for the next year and is currently working on identifying anomalies that should be removed.

“We are also working on simplification of tax laws to facilitate taxpayers,” the official said.

At the same time, the FBR is also engaging all stakeholders to identify problems related to taxation for redressal. “We will also consider tax incentives in the next budget for some sectors to help them revive their business,” they added.

Some of the proposals on the table from stakeholders are the revival of zero-rating for the five export-oriented sectors, allowing lower rates of sales tax on domestic sales of textile, clothing, waiver of CNIC conditions for traders and reducing the sales tax rate to 5pc from 17pc. “These are the demands of the stakeholders,” the official said.

Tax officials privy to budget-making said the FBR will try to avoid the introduction of new tax measures but will defend the continuation of those already in place. “It will be best to preserve our existing tax measures for now and see onward in the year how it progresses,” the officials commented.

At the moment, the focus is on the ease of doing business and facilitating taxpayers through information technology support. As the economy will revive, the FBR will support any new taxation proposals, they continued.

However, a senior tax official said the FBR cannot do away with maximum existing tax measures. “We need money for running the government machinery,” he said, adding other measures like printing of notes will add to inflationary pressure in the country.

The FBR has already worked out the impact of ongoing lockdown and closing down of businesses on the country’s revenue collection. The IMF has approved the incentive package for the construction sector on the request of Prime Minister Imran Khan to create employment.

“We are under an IMF programme so all budget proposals will be discussed with them,” the official said.

The FBR estimates a revenue loss of Rs450 billion in the first quarter (July-September) of next fiscal year in case the partial lockdown remains. It further projects that in case the partial lockdown extends, the tax body will see another shortfall in revenue realisation to the tune of Rs350bn.

According to the official, the FBR will try to recover some portion of the shortfall in the second half of the year. However, the government will have no other options but to seek a loan to bridge revenue shortfall. “You cannot bridge such a huge gap with new tax measures,” the source said.

Moreover, the FBR estimates also show that imports will remain on the lower side in the first half-year and so is the case of exports until orders revive. The domestic economy will revive to some extent while revenue collection from the services sector will be much lower from last year’s level.

Published in Dawn, May 10th, 2020

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Modest changes expected to include relaxing exercise rules and reopening garden centres

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Boris Johnson’s plans to ease the UK lockdown are likely to be in line with Wales, which would result in only modest changes such as the reopening of garden centres and libraries, and a relaxation of exercise rules, the Welsh first minister, Mark Drakeford, said on Saturday.

Drakeford said the prime minister’s announcement for England would be in line with the very smallest easing granted in Wales.

Kajol and Ajay Devgn completed 21 years of marital bliss. The couple has always set some serious goals with their polar opposite mannerisms. Ajay's calm demeanour perfectly blends in with Kajol's outgoing personality. The power couple also engages in fun banter on social media.

This time, we are talking about Ajay's throwback picture with Kajol comparing their 22 years of marriage to the lockdown. The black-and-white picture is from one of their films together. Sharing the picture, he wrote, Feels like it's been twenty two years since the lockdown began. #FridayFlashback @kajol (sic)".

 

 

 

View this post on Instagram

Feels like it’s been twenty two years since the lockdown began. #FridayFlashback @kajol

A post shared by Ajay Devgn (@ajaydevgn) onMay 8, 2020 at 6:19am PDT

Aren't they the cutest couple? Their playful social media banter surely has always given us couple goals!

Recently, Kajol took to Instagram and wondered what day of the week it was. The star captioned it, "When Sunday and Monday are just the same. Wayback Wednesday."

 

 

 

View this post on Instagram

When Sunday and Monday are just the same... #lockdownstories #WaybackWednesday

A post shared by Kajol Devgan (@kajol) onMay 6, 2020 at 12:47am PDT

The duo has worked together in films like Gundaraj, Hulchul, Pyaar To Hona Hi Tha, Dil Kya Kare, Raju Chacha, and U Me Aur Hum. The couple is blessed with two children, Yug and Nysa. The couple were last seen together in Tanhaji: The Unsung Warrior. It has turned out to be the biggest hit of Devgn and Kajol's career, with staggering collections of over Rs. 275 crores.

Kajol was recently seen in the short film Devi, which received wide acclaim from the audience and critics alike. Devi also starred Neha Dhupia, Neena Kulkarni, Mukta Barve, Shivani Raghuvanshi, Yashaswini Dayama, Sandhya Mhatre and Rama Joshi. It can be viewed on YouTube.

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Looking – literally – at how teachers around the world teach can be a game changer to improve education. The evidence is clear that teachers are what makes the greatest difference to learning, outside students’ own backgrounds. It is widely recognised that the quality of an education system is only as good as the quality of its teachers. Yet we know relatively little about what makes a good and effective teacher.

While teachers can make a great difference to student outcomes, we know little about how they teach and what makes “good” teaching. The TALIS Video Study is a new OECD project that aims at understanding what teaching practices are used, how they are interrelated, and which ones are most related to students’ cognitive and non-cognitive outcomes.

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On the evidence of their respective performances in the trust vote, it must be said that the young Abdullah appears to be better qualified for the post he seeks than the young Gandhi is for the job some think should be his by right of birth, writes Ramachandra Guha.

Court narrates a compelling story and evolves into a hard-hitting realistic portrayal of the Indian legal system. Shoma Chatterji reviews the film with a deep exploration of all that sets it apart from a regular courtroom drama.

According to University of Oxford, Men who do household chores are more likely to marry a girl of their choice.

Six-year-old Yunosuke and four-year-old Koujirou can be seen training on the Swedish and Serbian legends in a viral video.