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Despite its potential, Pakistan's taxation system faces several significant challenges: Low tax-to-GDP ratio: Pakistan’s tax-to-GDP ratio remains lower than the global average. In recent years, the ratio has been approximately 9.5%, far below that of neighboring countries like India (16%) and Bangladesh (12%). This indicates inefficiencies in ...
Pakistan has experienced an economic crisis as part of the 2022 political unrest. It has caused severe economic challenges for months due to which food, gas and oil prices have risen. As of 1 February 2025 Pakistan inflation rate recorded 2.4% lowest in 9 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
Taxation, which includes income tax, sales tax, and customs duties, constitutes a substantial portion of revenues, bolstering both federal and provincial government finances. Non-tax revenue sources, such as mark-up from state enterprises, surplus profits from the State Bank of Pakistan , and royalties on oil and gas, further contribute ...
In economics, a leakage is a diversion of funds from some iterative process. For example, in the Keynesian depiction of the circular flow of income and expenditure, leakages are the non-consumption uses of income, including saving, taxes, and imports. In this model, leakages are equal in quantity to injections of spending from outside the flow ...
Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back ...
Relations between Pakistan and Nigeria are friendly, affable and strong. In January 2009, Nigeria's then Minister of Defence, Shittima Musa, announced that "Nigeria and Pakistan would continue to maintain closer relations" and stated that the two countries have also declared to forge closer military ties, especially in the areas of military training and transfer of technology.
After the leak, more than 30 Members of the European Parliament issued an open letter criticizing the British government for failing to take action against the offshore tax industry. [150] Gavin St Pier, an elected Deputy of the tax haven Guernsey, stated that the "coverage was part of a well-orchestrated, ongoing campaign". [151]
The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the sixth largest in Africa and the 27th-largest in terms of ...