Saturday, April 26, 2025
-Advertisement-

Karachi Tops Pakistan’s Tax Revenue Contributors for FY24

- Advertisement -

Karachi has been recognized as Pakistan’s leading tax revenue contributor for the fiscal year 2024, significantly bolstering the country’s economy, the Federal Board of Revenue (FBR) reported.

The city contributed an impressive Rs1.36 trillion in income tax, Rs136.3 million in federal excise duty, and over Rs1 trillion in sales tax, outpacing other major cities and reaffirming its status as a key financial hub.

- Advertisement -

Following Karachi, Lahore’s Large Taxpayers Organization (LTO) ranked second, contributing over Rs1.402 trillion, while Islamabad’s LTO secured third place with Rs1.164 trillion in tax revenues.

Despite Karachi’s strong performance, the FBR faces hurdles in FY25, reporting a shortfall of Rs386 billion in the first half. The board collected Rs5,623 billion against a target of Rs6,009 billion, raising concerns about meeting annual revenue goals.

- Advertisement -

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Latest stories

-Advertisement-

Highlights of the Week
Related

JI Chief Monem Zafar Calls for ‘Full Strike’ on April 26 to Protest Gaza Crisis

Jamaat-e-Islami Karachi chief Monem Zafar has announced a complete...

Magnitude 5.9 Earthquake Shakes Punjab, KP Cities

A magnitude 5.9 earthquake struck parts of Punjab and...

Justice Mansoor Ali Shah Sworn In as Acting Chief Justice of Pakistan

Justice Mansoor Ali Shah, the most senior judge of...

Network Outages Threaten Business Continuity and Customers’ Trust: Kaspersky

Network outages pose significant challenges for businesses, disrupting productivity,...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!