Large Taxpayers Office Karachi dominates FBR’s tax collection for FY24

The Large Taxpayers Office (LTO) Karachi has maintained its status as the top tax-collecting office within the Federal Board of Revenue (FBR), contributing 31% to the total inland tax collection for fiscal year 2023-24 (FY24).

LTO Karachi collected PKR 2.522 trillion, including PKR 1.361 trillion in income tax, PKR 1.026 trillion in sales tax, and PKR 136.318 billion in federal excise duty (FED). This achievement places it ahead of other regional offices, with LTO Lahore and LTO Islamabad following.

The FBR report highlights a strong performance in various tax areas, with direct taxes surpassing targets by 121.8%, income tax collections reaching 121.2% of the target, and collection of wealth tax (CVT) at 125.2%.

Despite shortfalls in sales tax and customs duty, these categories still contributed significantly to the overall revenue.

The number of registered taxpayers also saw significant growth, with income tax registrations increasing by 36.2% and sales tax registrations by 8.3%.

Regional Tax Office (RTO) Multan and RTO Sahiwal led these increases, demonstrating the FBR's success in enhancing tax compliance across Pakistan.