KARACHI: Large Taxpayers Office (LTO) Karachi has collected Rs1.4 trillion during first 11 months (July – May) of fiscal year 2021/2022, showing a 41 per cent growth over the corresponding period last year.
According to a statement issued on Tuesday, the LTO Karachi collected Rs1.4 trillion during first 11 months of the current fiscal year as compared with Rs992 billion in the corresponding months of the last fiscal year, showing a sharp increase of 41 per cent.
The LTO Karachi is the largest revenue collection arm of the Federal Board of Revenue (FBR). It collects around 35 per cent of the revenue collection collected at national level.
The LTO Karachi also surpassed the assigned target of revenue collection for the period of July – May 2021/2022.
The tax office has been assigned Rs1.28 trillion as collection target for the period under review. It collected Rs1.4 trillion to surpass the target by Rs117 billion.
The LTO Karachi also surpassed the monthly target for May 2022. The tax office collected a huge amount of Rs130 billion in the month of May 2022 as against the assigned target of Rs125 billion.