Karachi Tops as Pakistan’s No. 1 Tax Contributor in FY24

Karachi has emerged as the top contributor to national tax revenues for the fiscal year 2023-24, according to the Federal Board of Revenue’s (FBR) annual report. The city’s Large Tax Office (LTO) collected a total of Rs. 2.522 trillion in taxes, highlighting Karachi's significant role in Pakistan’s economy.

Breakdown of Tax Contributions

The impressive tax collection from Karachi includes:

• Income Tax: Rs. 1.36 trillion

• Federal Excise Duty: Rs. 136.3 million

• Sales Tax: Over Rs. 1 trillion
  
  

  Karachi’s Economic Significance

  Karachi's substantial tax contributions underscore its critical role in national revenue generation and economic stability. As Pakistan's economic powerhouse, Karachi continues to lead in various sectors, significantly impacting the country's overall financial health.
  
  

  Key Highlights

  • Top Contributor: Karachi emerges as the leading tax contributor for FY24.

  • Total Collection: Rs. 2.522 trillion collected by Karachi’s Large Tax Office.

  • Breakdown: Significant contributions in income tax, federal excise duty, and sales tax.

  • Economic Importance: Karachi's role in bolstering Pakistan’s economy and tax revenue generation.