LTO Collected PKR 1 Trillion Tax from Karachi in 8 Months
In the first eight months of the fiscal year (FY) 2021-22, the Large Taxpayer Office (LTO) in Karachi collected over PKR 1,003,400,000 in taxes.
According to news sources, the government set a total tax collection target of PKR 920 billion for the first eight months of FY 2021-22, which LTO exceeded by PKR 83 billion. Last year, the LTO only collected PKR 692.680 billion in the same period, which was 45% less than this year’s total.
The FBR reportedly had the first fully automated Point of Sale (PoS) control room in Karachi. This control center will enhance compliance, monitor daily tax collections, and handle complaints regarding non-POS tier-1 merchants inside the city.
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