LTO Karachi posts 41% collection growth in 10 months

LTO Karachi posts 41% collection growth in 10 months

KARACHI: Large Taxpayers Office (LTO) Karachi has posted an unprecedented growth in revenue collection of 41 per cent during first 10 months (July – April) of the current fiscal year.

The LTO Karachi is the largest revenue collecting arm of the Federal Board of Revenue (FBR).

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The collection of the tax office sharply increased to Rs1.26 trillion during first ten months of the current fiscal year as compared with Rs900 billion in the corresponding period of the last fiscal year, registering an increase of 41 per cent.

The LTO Karachi also surpassed the 10-month revenue collection target of Rs1.154 billion. However, its collection exceeded by Rs111 billion to Rs1.26 trillion.

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During the month of April 2022, Large Taxpayers Office, Karachi has also surpassed budgetary target fixed at Rs. 112.59 billion by collecting gigantic Rs120.18 billion (all taxes) against the target fixed by the government.