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Under the inspiring
leadership of Mr. Abdullah Yousuf, Secretary
General Revenue Division and Chairman FBR,
and owing to the able guidance of Mr. Usman
Khalid Mirza, Member (Direct Taxes), the
Regional Tax Office Karachi has posted a
remarkable achievement in registering a
21.83 percent growth in revenue collection
in both the direct and indirect taxes during
the fiscal year 2007-08. Overall collection
of Rs. 104.9 billion (Provisional) as
compared to last year’s figure of Rs. 86.1
billion is a proof of the untiring efforts
put in by the officers and staff of the unit
throughout the year. The RTO, Karachi has
surpassed this years’ allocated budgetary
target of Direct Taxes of 89 billion by
collecting 89.2 billion. Effective planning
and strategic management helped pave the way
for budgetary target achievement as the
collection of advance tax during the year
was down by 26.4 percent and tax with return
also registered a 58.8 percent decline from
the last fiscal year figures. The focus was
therefore shifted towards intensive
monitoring of withholding taxes and
mobilization of audit and recovery efforts
in addition to tapping the potential from
capital market. Withholding taxes show an
impressive 40 percent increase as compared
to last year figure of Rs. 37.9 billion.
Similarly audit and recovery boast of a
massive 123 percent increase over previous
year figures. Capital market revenue
collection registered an 18.42 percent
increase this year due to strict monitoring
efforts.
The indirect taxes also depict a 25 percent
growth in sales tax collection over the
previous year figure of Rs. 12 billion
whereas collection from federal excise duty
show a 40 percent increase with this year
collection totalling to Rs. 0.7 billion.
This is indeed an occasion to celebrate and
offer thanks to Almighty Allah for enabling
the Regional Tax office Karachi in leading
from the front in terms of its overall
performance at the close of yet another
successful fiscal year. The Director General
RTO Mr. Asrar Raouf hosted a Bara Khana on
the 3rd of July to mark the occasion. The
entire RTO population joined the
celebrations. Lunch was served for the staff
as well as the officers on several floors of
the Income Tax complex. The officers’ lunch
was preceded by a small ceremony wherein
brand new Cultus vehicles were handed over
to the Additional Commissioners serving in
RTO. Certificate of appreciation were also
distributed amongst officers and staff for
outstanding performance. Mr. Asrar Raouf
praised the efforts put in by all the
employees of RTO, Karachi including the
officers and staff in order to achieve the
budgetary target for the year. He urged them
to continue with the same zeal in the coming
year as well.
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