Karachi has once again solidified its position as Pakistan’s leading taxpaying city, contributing an impressive Rs2,522 billion in taxes for the fiscal year 2023-24, according to data released by the Federal Board of Revenue (FBR).
The report, which breaks down tax contributions by region, ranks Lahore as the second-highest tax contributor, followed by Islamabad in third place.
Karachi’s tax contributions include Rs1.36 trillion in income tax, Rs136.3 billion in federal excise duty, and over Rs1 trillion in sales tax, outperforming other major cities and reinforcing its role as a crucial financial hub.
Lahore’s Large Taxpayers Organization (LTO) came in second, contributing over Rs1.402 trillion in tax revenues, while Islamabad’s LTO ranked third, with Rs1.164 trillion in contributions for the same period.
Meanwhile, The Federal Board of Revenue has missed its revenue collection target by nearly Rs386 billion in the first half of the current fiscal year, as a decline in imports and lower-than-expected inflation impacted tax receipts.
According to provisional figures released on Tuesday, FBR collected Rs5.623 trillion between July and December against the target of Rs6.009tr. However, the collection is 26pc higher compared to the year-ago figure of Rs4.466tr.
