Karachi, January 7, 2025 – The Large Taxpayers Office (LTO) Karachi has retained its position as the highest tax-collecting office within the Federal Board of Revenue (FBR), contributing a significant 31% to the total inland tax collection for the fiscal year 2023-24.
According to the FBR’s performance report for the tax year, LTO Karachi collected an impressive Rs. 2.52 trillion out of the total Rs. 8.21 trillion in inland taxes. This achievement underscores the pivotal role Karachi plays in the country’s tax ecosystem.
The top five contributors to the FBR’s inland revenue collection are LTO Karachi, LTO Lahore, LTO Islamabad, RTO Lahore, and LTO Multan. LTO Karachi leads the pack with its 31% share, followed by LTO Lahore at 17.09% and LTO Islamabad at 14.18%. RTO Lahore and LTO Multan contributed 4.7% and 4.1%, respectively. Collectively, these five offices accounted for 71% of the total inland revenue, highlighting their critical importance to Pakistan’s fiscal stability. The remaining tax offices contributed 29.3% to the overall collection.
Performance Across Tax Instruments
The FBR report also shed light on its overall performance for FY 2023-24, showcasing remarkable achievements in several tax areas. Direct taxes emerged as the top-performing category, exceeding the revised target by 121.8%. Income Tax collections reached 121.2% of the target, while the Collection of Wealth Tax (CVT) surpassed expectations with a performance of 125.2%.
The Workers Welfare Fund (WWF) and Workers Profit Participation Fund (WPPF) collections were particularly noteworthy, achieving a remarkable 196.8% of the target. This reflects the FBR’s enhanced efficiency in tapping into diverse revenue streams.
Despite some shortfalls in Sales Tax (85.6%) and Customs Duty (83.4%), these categories still made significant contributions to the overall revenue pool. Additionally, Federal Excise Duty (FED) collections performed steadily, reaching 96.2% of the target, showcasing resilience in challenging economic conditions.
These results highlight the FBR’s strong commitment to strengthening Pakistan’s revenue base, ensuring fiscal sustainability, and driving economic growth. LTO Karachi’s outstanding contribution remains a cornerstone of this success.