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.
(more…)Tag: LTO Karachi
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LTO Karachi takes over tax assessment of Facebook
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.
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LTO Karachi poised to smash Rs3 trillion barrier first-time
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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LTO Karachi amass record Rs2.56 trillion tax revenue in 10MFY25
Karachi, May 21, 2025 – The Large Taxpayers Office (LTO) Karachi has once again demonstrated its exceptional prowess in revenue mobilization by amassing an unprecedented Rs2.56 trillion in tax collections during the first ten months (July to April) of the fiscal year 2024-25.
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LTO Karachi signals possible salary tax relief in budget 2025–26
Karachi, May 19, 2025 – The Large Taxpayers Office (LTO) Karachi has indicated that the salaried class may receive some much-needed relief in the forthcoming federal budget 2025–26.
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LTO Karachi posts impressive 27% tax collection growth in 9MFY25
KARACHI, April 23, 2025 – The Large Taxpayers Office (LTO) Karachi has posted a remarkable 27% increase in revenue collection during the first nine months (July–March) of the fiscal year 2024–25, underscoring its critical role in Pakistan’s tax administration system.
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LTO Karachi Seals Collectibles Outlets Over Sales Tax Fraud
Karachi, March 25, 2025 – The Large Taxpayers Office (LTO) Karachi has taken decisive action against M/s. Collectibles, a well-known luxury watch retailer, by sealing four of its registered outlets over alleged sales tax fraud.
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LTO Karachi Collects Rs3.60B CVT on Vehicles, Foreign Assets
Karachi, March 23, 2025 – The Large Taxpayers Office (LTO) Karachi has successfully collected Rs 3.60 billion as Capital Value Tax (CVT) on motor vehicles and foreign assets during the first eight months (July to February) of the fiscal year 2024-25.
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LTO Karachi Seals Zelbury Outlet for Issuing Unverified Invoices
Karachi, February 11, 2025 – The Large Taxpayers Office (LTO) Karachi has taken decisive action by sealing an outlet of Zelbury, a well-known online fashion shopping platform, for issuing unverified sales tax invoices.
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LTO Karachi Launches Squad to Tackle Tax Evasion
Karachi, January 12, 2025 – The Large Taxpayers Office (LTO) Karachi has established the Inland Revenue Enforcement Network (IREN) to address tax evasion within its jurisdiction. This initiative aligns with directives issued by the Federal Board of Revenue (FBR), which outlined the scope and functions of the IREN network and the enforcement units within field formations possessing legal territorial or tax jurisdiction over specific cases.
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