The Karachi Large Taxpayers Unit (LTU) achieved 24 percent growth in revenue collection during fiscal 2007-08 as Rs 162 billion was collected against Rs 131 billion of last year. According to provisional data, the LTU collected Rs 91.160 billion on account of direct taxes against Rs 82.116 billion of last year.
In collection of Rs 91.160 billion, many 'landmarks' were achieved by different divisions of the LTU. The Income Tax Audit Division (ITAD) achieved creation of demand through audit of Rs 26 billion as against Rs 5 billion of last year. Rs 17 billion was recovered out of undisputed current and arrears demand, against Rs 4 billion of last year, showing significant and sincere efforts by the Enforcement Division.
Collection of advance tax of Rs 65 billion, against Rs 56 billion of last year, reflected dedicated collective efforts of the officers of the Enforcement and Audit Divisions, supplemented by positive response of the taxpayers. The Sales Tax Division achieved FED and sales tax revenue of Rs 7l billion, against Rs 49 billion of last year, showing an increase of 44 percent.
In recognition of the efforts of the staff of LTU Karachi, Member Direct Taxes, FBR Usman Khalid Mirza distributed appreciation certificates and rewards. These achievements were made possible under the able guidance of Usman Khalid Mirza, FBR Member Direct Taxes and Bashir Ahmed, Karachi LTU Director-General.-PR
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