LTU Karachi’s tax collection increased by 15% to Rs 665 bln in the first half of FY20

The LTU unit is the main collecting source of the Federal Board of Revenue (FBR).

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  • The Large Taxpayers Unit (LTU) Karachi has collected taxes worth Rs 665 billion during the first half of the current fiscal year.
  • However, during the first half of the last fiscal year, the unit collected Rs 582 billion.

LTU

The Large Taxpayers Unit (LTU) Karachi has collected taxes worth Rs 665 billion during the first half of the current fiscal year. The unit is the main collecting source of the Federal Board of Revenue (FBR).

However, during the first half of the last fiscal year, the unit collected Rs 582 billion.

Many factors have contributed to the massive growth of 15% in tax collections.

  • Removal of sales tax zero-rated regime
  • Pressing 100% retention tax on people not appearing on the Active Taxpayers List (ATL)
  • Constant rates of sales tax on petroleum products

According to officials, the growth in income tax collection remained stagnant due to the payment of refunds.

During the first half of the current fiscal year, the income tax unit collected Rs 116 billion as compared to Rs 116.5 billion during the same time last year.

Contribution of Main factors

Removal of sales tax zero
Growth in First half of FY 2019/20 18%
Pressing 100% retention tax on people not appearing on the ALT list
Growth in First half of FY 2019/20 18%
Tax collection in First half of FY 2019/20 Rs 513 billion
Tax collection in First half of FY 2019/20 Rs 433.6 billion
Tax collection at the import stage
Growth in First half of FY 2019/20 20%
Tax collection in First half of FY 2019/20 Rs 400 billion
Tax collection in First half of FY 2019/20 Rs 333.7 billion
Tax collection on domestic sources
Growth in First half of FY 2019/20 16%
Tax collection in First half of FY 2019/20 Rs 118.45 billion
Tax collection in First half of FY 2019/20 Rs 102 billion

 

Stagnant income tax collection

Sales tax refunds
Growth in First half of FY 2019/20 187%
Tax collection in First half of FY 2019/20 Rs 5.4 billion
Tax collection in First half of FY 2019/20  Rs 1.89 billion

Also See:

Sales Tax Collection On Imports Increases By 21% To Rs400 Billion During The First Half Of FY20

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