LTU Islamabad shows 45 percent growth in 5 months

Large Taxpayers Unit (LTU), Islamabad, has shown remarkable growth of 45 percent in revenue collection during first five months of current financial year as compared to the collection made during last corresponding period.

According to details, LTU, Islamabad has collected Rs 152.67 billion from July to November 2019 as compared to Rs 105.34 billion collection made during corresponding period of 2018.

The department has collected Rs 65.71 billion as Income Tax, Rs 48.70 billion as sales tax and Rs 38.20 billion under the head of Federal Excise Duty (FED). The LTU, Islamabad has collected Rs 47.28 billion more than last year's collection, depicting 45 percent growth.

During the month of November, 2019, LTU, Islamabad has posted an increase of 28% growth with Rs 31.18 billion revenue collection as compared to last November when the department collected Rs 24.27 billion. The LTU, Islamabad has collected Rs 6.75 billion as Income Tax and Rs 10.58 billion as sales tax and Rs 13.85 billion as FED in November, 2019.

Talking to Business Recorder, Zulfikhar Ahmad, Commissioner LTU, Islamabad said that all major corporate sectors including Telecom, Petroleum, Cement, Fertilizers, and Tobacco are fallen in the jurisdiction of LTU, Islamabad and the overall 45% growth in revenue collection is made possible by substantial growth in petroleum, and cement sections and substantial revenue was also generated from telecom sector after restoration of section 236 by Supreme Court of Pakistan.