Karachi RTO posts 42 percent growth in revenue collection

Regional Tax Office (RTO-I), Karachi is reported to have witnessed a 42 percent growth in revenue collection during the ongoing fiscal month. According to provisional statistics, RTO-I collected Rs 10.18 billion on account of direct taxes in May against Rs 7.91 billion in the corresponding period last month, depicting a growth of 36 percent.
Similarly, revenue collection on account of sales tax showed 193 per cent growth against the corresponding period last month when the collection stood at Rs 335.63 million. However, a negative growth of 15 per cent was witnessed in Federal Excise Duty collection, mainly because of FED withdrawal on major items in the last budget.