2 days ago
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- Business Recorder
LTO Karachi posts record Rs2.807trn collection
KARACHI: The Large Taxpayers Office (LTO) Karachi has displayed a robust performance in revenue collection during the period from July 24 to May 25, achieving a record collection of Rs 2.807 trillion with an impressive 11.6 percent growth.
According to the details, the department has made Rs 2.807 trillion in revenue collection as compared to Rs 2.515 trillion in the previous year, depicting an impressive 11.6 percent growth.
Income tax emerged as the primary driver of revenue growth, contributing Rs 1.510 trillion in FY2024-25, a substantial increase of 28.1 percent from the previous year's Rs 1.179 trillion. This significant jump in tax collection reflects improved compliance and enhanced tax recovery measures.
FBR tax collection: Contribution of LTO Karachi highest
Similarly, the sales tax collection also showed positive momentum, reaching Rs 1.185 trillion in FY2024-25, representing a 19.2 percent increase from Rs 994.52 billion collected in FY2023-24.
The Federal Excise Duty (FED) has recorded the most dramatic growth among all revenue streams, jumping by 58 percent from Rs 121.85 billion in FY2023-24 to Rs 192.49 billion in FY2024-25.
The monthly comparison for May shows continued strong performance, with total revenue collection of Rs 248.63 billion in May 2024-25 compared to Rs 199.43 billion in May 2023-24 – an increase of 24.7 percent.
Income tax collection for May grew by 22.1 percent, while sales tax increased by 17.6 percent. The federal excise duty collection in May 2024-25 reached Rs 20.83 billion, significantly higher than Rs 11.06 billion in the corresponding period, representing an 88.3 percent growth.
Tax refunds decreased marginally from Rs 82.51 billion in FY2023-24 to Rs 81.17 billion in FY2024-25, indicating efficient refund management, while the monthly refunds for the month of May 2025 showed a 13 percent decline to Rs 4.72 billion from Rs 5.37 billion in the previous year.
During the period from July 2024 to May 2025, the income tax constituted 53.8 percent of total LTO revenue collection, followed by sales tax at 42.2 percent and federal excise duty at 6.9 percent.
Copyright Business Recorder, 2025
