Revenue Growth In Karachi

Khyber pakhtunkhwa revenue authority has recorded thirty three percent growth in revenue collection in the 1st quarter of the current fiscal year.

Revenue growth in karachi. The regional tax office i karachi has posted 60 percent growth in revenue collection to rs11 05 billion during the month of september despite transfer of revenue yielding cases to other. The karachi generates about 25 of the national gdp. Karachi is the financial and industrial capital of pakistan as of 2019 karachi had an estimated gdp nominal of 64 billion. It also has its share of 65 in generating the national revenue that includes federal and provincial taxes customs and surcharges.

Large taxpayers unit ltu karachi the prime field formation of federal board of revenue has been successful to record half yearly growth at 15. Karachi produces about 30 percent of value added in large scale manufacturing 25 of the gdp the world. According to a press release issued in peshawar on friday the authority collected 4 33 billion rupees revenue during the first three months of the fiscal year 2020 21. According to him pakistan generates 95 of its total federal tax revenue from its ten major cities and karachi contributes 55 islamabad 16 per cent and lahore 15.

Ltu karachi has collected rs 688 billion for the period from july to december 2019 against rs 598 billion for the corresponding period of last year recording substantial growth of 15. Revenue collected from the country includes three large tax units ltus in karachi lahore and islamabad 18 regional tax offices rtos including karachi rto i ii iii lahore peshawar. Ltu karachi has collected rs 796 billion for the period from july 2019 to january 2020 against rs 690 billion for the corresponding period of last year recording growth of 15. Large taxpayers office karachi saw revenue collection increase 10 percent year on year to rs444 billion during the first four months of the current fiscal year as economic activities.

The collection of income tax increased to rs75 3 billion during july october 2020 compared with rs61 4 billion in the corresponding period of the last fiscal year. Large taxpayers unit ltu karachi has been able to record growth at 15 in the seven months of current fiscal year july january 2019 20.