In a major move to facilitate around 1,500 to 2,000 big corporate taxpayers/multinational companies, the Federal Board of Revenue (FBR) has decided to establish second Large Taxpayer Unit (LTU) at Karachi.
Sources told Business Recorder here on Friday that the concept of LTU-II Karachi has been duly approved by the FBR. The objective of starting the second LTU at Karachi is to provide quality services to the big corporate entities and multinationals. The FBR would be able to conduct focused monitoring of the units which are expected to be covered under the jurisdiction of new LTU at Karachi.
According to sources, the FBR will issue the jurisdiction order of the new LTU in due course of time. It is expected that the new LTU-II Karachi may become functional from February 1, 2015. The FBR is examining lists of taxpayers falling under the jurisdiction of three Regional Tax Offices of Karachi. The jurisdiction of these units would be transferred to the new LTU Karachi.
The new LTU-II Karachi is expected to be stationed at existing Tax House on Atta Turk Avenue Karachi.
The FBR may appoint one of the Chief Commissioners of RTOs in Karachi as new Chief Commissioner of the LTU Karachi. In this regard, the FBR is examining the name of Chief Commissioner RTO-II Karachi in this regard, sources added.
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