LTO Karachi crosses Rs1 trillion collection

KARACHI: The Large Taxpayers Office (LTO) Karachi has crossed the tax collection mark of Rs1 trillion in just eight months (July–February) of the fiscal year 2021/22.

The LTO Karachi made history by showing a remarkable achievement of collecting unprecedented Rs1,003.45 billion in all taxes during the period of July 2021 to February 2022, as against Rs.692.70 billion collected previous year showing an overall growth of 45 per cent compare with the overall collection made during the same period last year.

The overall budget target assigned to the LTO Karachi for the period of July 2021 to February 2022 was Rs920.19 billion against which LTO Karachi has collected Rs1,003.45 billion, which is Rs83 billion in excess of the assigned target.

During the month of February 2022, LTO Karachi has also surpassed the budgetary target fixed at Rs105.5 billion by collecting Rs107 billion (all taxes) against the target fixed by the government.