ISLAMABAD: The Large Taxpayer Office (LTO) Karachi emerged as the top contributor to the Federal Board of Revenue’s (FBR) overall tax collection for 2023-24, accounting for 30.74% of the total revenue from income tax, sales tax, and federal excise duty (FED).

According to the FBR’s annual performance report for 2023-24, LTO Karachi led the contributions, followed by LTO Lahore with 17.09% and LTO Islamabad with 14.18%. RTO Lahore and LTO Multan also played significant roles, contributing 4.7% and 4.1%, respectively. Together, these five offices accounted for 70.7% of the total tax collection, while the remaining offices contributed 29.3%.

LTO Karachi collected Rs 2,522 billion, comprising Rs 1,360 billion in income tax, over Rs 1,000 billion in sales tax, and Rs 136.3 million in federal excise duty. LTO Lahore followed with collections exceeding Rs 1,402 billion, and LTO Islamabad secured the third position with Rs 1,164 billion in tax revenue during the fiscal year.

The report also highlighted a significant 36.2% increase in income tax registrations nationwide, with an addition of 3.574 million taxpayers. RTO Multan led this surge with a remarkable 59.21% growth, followed closely by RTO Bahawalpur and RTO Sahiwal.

Each of the four provinces featured prominently in the top 10 regions for percentage growth in income tax registrations. However, some offices recorded less than a 10% increase. In sales tax, there was an 8.3% rise in registered taxpayers, with 30,297 new registrations across the country.

These figures reflect the FBR’s ongoing efforts to enhance tax compliance and expand its taxpayer base, demonstrating its commitment to improving revenue collection across multiple tax domains.