Karachi, January 6, 2024 – In a remarkable achievement, the Large Taxpayers Office (LTO) Karachi has secured the top position in tax collection among the offices of the Federal Board of Revenue (FBR) in Pakistan.
According to the recently released data for the fiscal year 2022-23, LTO Karachi has successfully collected an impressive Rs 1.98 trillion, constituting a substantial 31.78 percent of the total land taxes collected by the FBR.
The comprehensive breakdown of tax collections across various offices sheds light on the exceptional performance of LTO Karachi. Out of the total Rs 6.23 trillion land taxes collected by the FBR, LTO Karachi’s share stands out significantly. This accomplishment underscores the economic significance and robust financial activities within the jurisdiction of LTO Karachi.
The detailed figures reveal that LTO Karachi’s tax collection comprised Rs 955.67 billion in income tax, Rs 926.14 billion in sales tax, and Rs 97.25 billion in Federal Excise Duty (FED). The cumulative total of Rs 1.98 trillion underscores the efficiency and effectiveness of LTO Karachi in revenue generation.
Comparatively, other tax offices across the country also contributed to the overall tax collection effort. The data, compiled for Income Tax, Sales Tax, and Federal Excise Duty, indicates the diverse contributions of various offices. CTO Islamabad, with a total collection of Rs 67.15 billion, ranks second in overall tax collection, whereas CTO Lahore follows closely with a total collection of Rs 152.91 billion.
Furthermore, the data highlights the crucial role played by LTO Islamabad, which collected a total of Rs 937.49 billion, making it a substantial contributor to the overall revenue collected by the FBR. Other regional tax offices also played their part in revenue generation, with notable contributions from RTO Lahore, RTO Peshawar, and RTO Rawalpindi, among others.
The achievement of LTO Karachi in surpassing other tax offices in tax collection is indicative of the city’s economic vitality and the effectiveness of the tax collection mechanisms implemented by the office. The success of LTO Karachi in meeting revenue targets is not only a testament to its administrative prowess but also reflects positively on the business environment and economic activities within its jurisdiction.
This outstanding performance by LTO Karachi bodes well for the economic development of the region and the country at large. As the FBR continues its efforts to enhance revenue collection and streamline tax processes, the exemplary performance of LTO Karachi serves as a model for other tax offices to emulate.
