July 2021-June 2022: Karachi LTO collects record tax worth Rs1595 billion
Large Taxpayers Office (LTO) Karachi has shown remarkable achievement by collecting revenue of Rs1595 billion in all taxes during the period July 2021-June 2022 against Rs992 million collected last year.
The previous record of tax collection from Karachi from July 2021 to June 2022 was broken, Large Taxpayers Office (LTO) Karachi has surpassed the target of the federal government of tax collection.
According to the Federal Board of Revenue (FBR), Rs1595 billion was collected from Karachi in 11 months. This year, 42% more tax has been collected as compared to last year.
According to the FBR, the tax collection target set by the federal government was Rs1449 billion, but LTO Karachi surpassed the federal government’s target and collected Rs1595 billion in taxes from Karachi in 11 months of the financial year.