RTO Karachi surpasses its monthly tax collection target
KARACHI: The Regional Tax Office-1 Karachi has surpassed its monthly tax collection target, allocated by the Federal Board of Revenue (FBR) headquarters, during the month of January 2025.
The RTO-1 was required to amass Rs. 26 billion through tax collection under its administrative domain; nevertheless the regional office climaxed at Rs. 28.6 billion on the closing date thereby contributing 10% more than the assigned 100% tax collection target.
An efficient tax collection, exceeding the monthly target, from a regional office signifies remarkably well for the Federal Board of Revenue that has already been pinpointing its focus on achieving the annual tax collection target for the ongoing FY 2024-25 keeping in view the slim economic state of the country.
The Regional Tax Office-1 has adopted a proactive enforcement strategy to enhance the share of domestic tax in the overall collection. Noteworthy in this regard are actions against tax evaders through on-spot stock takings and penalties on violation of PoS protocols.
Owing to these enforcement measures the voluntary tax compliance has shown visible signs of improvement climbing up from a meagre Rs. 300-400 million on an average to over a billion in December and January while the RTO-1 eyes a Rs. 3-4 billion mark in February and March 2025.
.Chief Commissioner RTO-1 Dr. Faheem Muhammad appreciated the efforts of his officers and staff in achieving landmark tax collection figures and imparting awareness amongst the trading community regarding PoS violations.
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He also called upon tax payers to improve tax compliance voluntarily in the best interest of the country and discourage tax evasion and fraud.