LTO Karachi Archives - Page 2 of 6

LTO Karachi rakes in Rs757 million tax from lavish weddings and grand functions

October 24, 2025October 24, 2025Shahnawaz Akhter

Karachi, October 24, 2025 – The glitter and glamour of Karachi’s extravagant wedding season have turned into gold for the tax authorities, as the Large Taxpayers Unit (LTO) Karachi reported a whopping Rs757 million collection in withholding tax on marriages and social functions during the tax year 2025.

Abbasi assumes charge as commissioner of AEOI Zone Karachi

August 12, 2025August 12, 2025Shahnawaz Akhter

Karachi, August 12, 2025 – Abdul Qadeer Abbasi, a BS-19 officer of the Inland Revenue Service (IRS), has officially assumed charge as the Commissioner of the Automatic Exchange of Information (AEOI) Zone in Karachi.

LTO Karachi recovers Rs4 billion CVT from foreign assets

August 8, 2025August 8, 2025Shahnawaz Akhter

KARACHI, August 8, 2025 — In a stunning fiscal triumph, the Large Taxpayers Office (LTO) Karachi has unleashed its enforcement might, recovering a jaw-dropping Rs4 billion in Capital Value Tax (CVT) from foreign assets during the 2024-25 fiscal year.

LTO Karachi promises swift action on FPCCI tax woes

July 7, 2025July 7, 2025Shahnawaz Akhter

Karachi, July 7, 2025 – The Large Taxpayers Office (LTO) Karachi has assured the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) of its full cooperation in resolving the pressing tax and technical issues raised by the business community, particularly those arising from the newly introduced provisions of the Federal Budget 2025–26.

LTO Karachi shatters all records with Rs3.27 trillion tax collection

July 1, 2025July 1, 2025Shahnawaz Akhter

KARACHI, July 1, 2025 — In a groundbreaking fiscal triumph, the Large Taxpayers Office (LTO) Karachi has shattered all previous records by amassing an unprecedented Rs3.27 trillion in tax collection during the financial year 2024–25 — a feat that is being hailed as a watershed moment in Pakistan’s taxation history.

LTO Karachi smashes Rs3tr barrier, poised to rewrite tax history

June 29, 2025June 29, 2025Shahnawaz Akhter

Karachi, June 29, 2025 – The Large Taxpayers Office (LTO) Karachi has shattered expectations by crossing the monumental Rs3 trillion mark in tax collection — and it’s not done yet. With just two days remaining in the fiscal year 2024–25, LTO Karachi is charging ahead with a fierce determination to breach Rs3.25 trillion, turning heads […]

LTO Karachi recovers Rs31 billion by freezing bank accounts

June 28, 2025June 28, 2025Shahnawaz Akhter

Karachi, June 27, 2025 – In an aggressive and highly effective move, the Large Taxpayers Office (LTO) Karachi has recovered a record-breaking Rs31 billion in outstanding taxes by freezing the bank accounts of major defaulters.

LTO Karachi assigned jurisdiction over OICCI for tax oversight

June 23, 2025June 23, 2025Shahnawaz Akhter

Karachi, June 23, 2025 – In a significant administrative development, the Federal Board of Revenue (FBR) has issued an official notification transferring the tax jurisdiction of the Overseas Investors Chamber of Commerce and Industry (OICCI) from the Corporate Tax Office (CTO) Karachi to Zone-I of the Large Taxpayers Office (LTO) Karachi.

LTO Karachi takes over tax assessment of Facebook

June 12, 2025June 12, 2025Shahnawaz Akhter

Karachi, June 12, 2025 – In a significant move, the Large Taxpayers Office (LTO) Karachi has been entrusted with the responsibility to evaluate and oversee the tax affairs of Facebook, the globally recognized social media and networking platform owned by the American tech giant Meta.

LTO Karachi poised to smash Rs3 trillion barrier first-time

June 6, 2025June 6, 2025Shahnawaz Akhter

KARACHI – June 6, 2025: In a historic and electrifying milestone, the Large Taxpayers Office (LTO) Karachi is poised to smash through the Rs3 trillion barrier in revenue collection for the very first time in Pakistan’s tax history.

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