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FBR’s LTU Karachi collects Rs 725b in 5 years

FBR’s LTU Karachi collects Rs 725b in 5 years

 

ISLAMABAD: The regional office, Large Taxpayer Unit Karachi (LTU) of Federal Board of Revenue (FBR) at Karachi has shown consistent upward trend of volume of revenue collection in last five year, showed official documents available with Customs Today.

LTU collected revenue of Rs 725 billion in 2009-10, Rs 855 billion in 2010-11, Rs 1027 billion in 2011-12, Rs 1,068 billion and Rs 1,198 in 2013-14. The document revealed that this share of revenue remained as Customs Rs128 billion, Rs147 billion, Rs 174 billion, Rs 184 billion and Rs 193 billion in last five years from 2009 to 2014, Sales Tax remained as Rs 300 billion, Rs 377 billion, Rs 478 billion, Rs 491 billion and Rs 570 billion during same years.

“Moreover, Federal Excise remained as Rs 58 billion, Rs 64 billion, Rs 51 billion, Rs 45 billion and Rs 52 billion in last five years as well as Direct Taxes was Rs 239 billion, Rs 267 billion, Rs 324 billion, Rs 348 billion and Rs 383 billion,” the document stated.

When asked about the reason for this consistent performance a well placed source at FBR told this scribe here that it was impossible to determine the exact amount of taxes generated from a particular collection point or city because FBR collected all federal taxes through across the country. “However, revenue collection has been higher from Karachi because of taxation at import stage and location of head offices of many companies in Karachi, Therefore, these may, or may not, pertain to taxes generated at Karachi,” the source said adding that

The source observed that economic activities were carried out all over the country therefore it was not possible to determine the exact amount of taxes generated at a particular collection point or city.