November 22, 2023 – The Large Taxpayers Office (LTO) Karachi, a crucial revenue collection arm of the Federal Board of Revenue (FBR), has intensified its investigation into sales tax fraud, summoning sugar millers to appear before an inquiry regarding the issuance of fake and flying invoices.
(more…)Tag: LTO Karachi
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FBR Confirms Freezing PIA Bank Accounts, Denies Embezzlement Allegations
The Large Taxpayers Office (LTO) Karachi, a revenue collection arm of the Federal Board of Revenue (FBR), released a statement on Thursday vehemently denying allegations of embezzlement against Pakistan International Airlines (PIA) management.
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LTO Karachi Surpasses FY23 Target, Collects Nearly Rs2 Trillion Amid Economic Challenges
Karachi, July 5, 2023 – The Large Taxpayers Office (LTO) Karachi has exceeded its revenue collection target for the fiscal year 2022-23, amassing approximately Rs2 trillion, according to officials on Wednesday.
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LTO Karachi Surpasses Landmark Tax Collection of Rs2 Trillion
Karachi, June 26, 2023: The Large Taxpayers Office (LTO) Karachi on Monday achieved a significant milestone by surpassing the landmark gross revenue collection of Rs2 trillion during the fiscal year 2022-2023.
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LTO Karachi posts 24% growth in tax collection for July – April 2022-2023
The Large Taxpayers Office (LTO) Karachi has reported a significant increase in tax collection, recording a remarkable 24% growth during the period of July to April 2022-2023 compared to the previous fiscal year.
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LTO Karachi hopes to achieve revenue collection target for 2022-2023
The Federal Board of Revenue (FBR) has recently appointed Sajidullah Siddiqui, a senior BS-21 officer, as the Chief Commissioner Inland Revenue of Large Taxpayers Office (LTO) Karachi.
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LTO Karachi collects PKR 456 billion in 1QFY23
The Large Taxpayers Office (LTO) Karachi, the flagship revenue collection arm of the Federal Board of Revenue (FBR), has demonstrated exceptional performance by collecting a staggering PKR 456.4 billion during the first quarter of the fiscal year 2022/2023 (July – September).
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LTO Karachi surpasses FY22 collection target
KARACHI: Large Taxpayers’ Office (LTO) Karachi surpasses the target of revenue collection of Rs.1,595 billion during the fiscal year 2021-2022.
The LTO, Karachi has collected Rs.146 billion excess amount, as it was assigned the target of Rs.1,449 billion for the fiscal year 2021-2022.
READ MORE: LTO Karachi collects Rs1.4 trillion July – May
The LTO Karachi has also surpassed the budgetary target fixed at Rs.170 billion during the month June 2022, by collecting a massive amount of Rs.196 billion in all taxes.
Large Taxpayers Office, Karachi has shown remarkable achievement by collecting Revenue at Rs.1,595 billion in all taxes during the period July 2021 – June 2022 as against Rs.1,124 billion collected previous year showing an overall growth of 42 percent vis-à-vis overall collection made during the same period last year.
READ MORE: LTO Karachi posts 41% collection growth in 10 months
Overall budget target assigned to LTO Karachi by the Federal Government for the period July 2021 to July 2022 was Rs.1,449 billion against which LTO Karachi has achieved Rs.1,595 billion which is Rs.146 billion in excess of the assigned target.
During the month of June 2022, Large Taxpayers Office, Karachi (Federal Board of Revenue) has also surpassed budgetary target fixed at Rs.170 billion by collecting gigantic Rs.196 billion (all taxes) against the target fixed by the Government.
READ MORE: LTO Karachi surpasses Rs1 trillion mark in 8MFY22
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LTO Karachi collects Rs1.4 trillion July – May
KARACHI: Large Taxpayers Office (LTO) Karachi has collected Rs1.4 trillion during first 11 months (July – May) of fiscal year 2021/2022, showing a 41 per cent growth over the corresponding period last year.
According to a statement issued on Tuesday, the LTO Karachi collected Rs1.4 trillion during first 11 months of the current fiscal year as compared with Rs992 billion in the corresponding months of the last fiscal year, showing a sharp increase of 41 per cent.
READ MORE: LTO Karachi posts 41% collection growth in 10 months
The LTO Karachi is the largest revenue collection arm of the Federal Board of Revenue (FBR). It collects around 35 per cent of the revenue collection collected at national level.
The LTO Karachi also surpassed the assigned target of revenue collection for the period of July – May 2021/2022.
READ MORE: LTO Karachi surpasses Rs1 trillion mark in 8MFY22
The tax office has been assigned Rs1.28 trillion as collection target for the period under review. It collected Rs1.4 trillion to surpass the target by Rs117 billion.
The LTO Karachi also surpassed the monthly target for May 2022. The tax office collected a huge amount of Rs130 billion in the month of May 2022 as against the assigned target of Rs125 billion.
READ MORE: LTO Karachi facilitates Tier-1 retailers in POS integration
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LTO Karachi surpasses Rs1 trillion mark in 8MFY22
The Large Taxpayers Office (LTO) Karachi, the leading revenue collection arm of the Federal Board of Revenue (FBR), has achieved a monumental milestone by surpassing the ambitious tax collection target of Rs1 trillion in just eight months of the current fiscal year 2021/2022 (8MFY22).
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