Karachi Leads as Top Tax Contributor in FY 2023-24

The Federal Board of Revenue (FBR) has unveiled its annual report for fiscal year 2023-24, spotlighting Karachi as the top contributor to Pakistan’s tax revenues, according to Express News.

Karachi’s Large Tax Office (LTO) led with Rs2,522 billion in taxes, comprising Rs1,360 billion in income tax, Rs136.3 million in federal excise duty, and over Rs1,000 billion in sales tax.

Lahore’s LTO ranked second with Rs1,402 billion in tax collections, while Islamabad’s LTO claimed third place, contributing Rs1,164 billion during the same period.

The report highlights the indispensable role of these cities in sustaining Pakistan’s tax revenue foundation.