FBR taxpayer unit records 15 pc growth in revenue collection

KARACHI: The Federal Board of Revenue’s (FBR) Large Taxpayer Unit (LTU) Karachi has released its half-yearly performance report that showed growth in revenue collection up to 15 per cent as compared to the previous year, a press release said on Tuesday.

The press release read that the Large Taxpayer Unit Karachi (the prime field formation of FBR) has been successful to record half-yearly growth at 15 per cent after revenue collections up to Rs688 billion in July-December 2019 against Rs598 billion for the corresponding period of last year.

The unit collected Rs160 billion against Rs144 billion for the corresponding month of last year. According to the statistics, LTU collected additional revenue up to Rs90 billion between July-December 2019.

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It added that the unit has also introduced various tax facilitation and enforcement projects during the period. Registering the growth of 128 per cent in Income Tax and Sales Tax refund, the issuance amount stood at Rs17.8 billion which was recorded up to Rs7.8 billion during the first six months of last fiscal year.

“Pursuing FBR’s proactive policy, various steps were taken for the purpose of early disposal of ligitation cases pending with Honorable Courts. On this account, senior officers have been specifically deployed for assistance of Honorable High Court of Sindh for early disposal of cases.”

The unit maintains the stance that the growth was recorded after exercising strong enforcement of site monitoring of production, especially in sugar and cement sectors.