July 2021-May 2022: Karachi LTO collects record Rs1,396bn revenue

KARACHI: Large Taxpayers Office (LTO) Karachi has shown remarkable achievement by collecting revenue of Rs1,396,189 million in all taxes during the period July 2021-May 2022 against Rs. 991,783 million collected last year, showing an overall growth of 41 percent.

Overall budget target assigned to LTO Karachi by the Federal Government for the period July 2021 to May 2022 was Rs. 1,279,205 (M) against which LTO Karachi has achieved Rs. 1,396,189 (M) which is Rs. 116,984 (M) in excess of the assigned target.

During the month of May 2022, Large Taxpayers Office, Karachi (Federal Board of Revenue) has also surpassed budgetary target fixed at Rs. 125,000 (M) by collecting gigantic Rs. 130,135 (M) (all taxes) against the target fixed by the Government.

Copyright Business Recorder, 2022