{"id":60069,"date":"2020-01-18T10:10:40","date_gmt":"2020-01-18T10:10:40","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60069"},"modified":"2020-01-20T06:11:34","modified_gmt":"2020-01-20T06:11:34","slug":"rto-ii-karachi-registers-24-rise-in-tax-collection","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/rto-ii-karachi-registers-24-rise-in-tax-collection.html","title":{"rendered":"RTO-II Karachi registers 24% increase in revenue collection"},"content":{"rendered":"\n<p>Karachi: The Regional Tax Office (RTO) \u2013 II of the Federal Board of Revenue (FBR) has reported a 24% increase in the revenue collected during the first half of the current fiscal year (FY2019-20), according to news sources.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-divides-karachi-into-two-zones-broaden-tax-net.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR divides Karachi into two zones to broaden tax net (opens in a new tab)\">FBR divides Karachi into two zones to broaden tax net<\/a><\/p>\n\n\n\n<p>The office collected PKR 51.17 billion in revenue in the said six-month period (July-December 2019) as compared to the PKR 41.34 billion collected in the last year\u2019s corresponding period. \u00a0<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-karachi-warns-non-tax-filing-citizens-penal-action.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR Karachi warns non-tax-filing citizens of penal action (opens in a new tab)\">FBR Karachi warns non-tax-filing citizens of penal action<\/a><\/p>\n\n\n\n<p>According to reports, the tax office witnessed 62% decline in its revenue collected under the heads of cash withdrawal from the banks. Through the Finance Act 2019, the withholding tax on cash withdrawal was limited to people who were not registered on the Active Taxpayers List (ATL).<\/p>\n\n\n\n<p>Another element that impacted the revenue collection was the decline in the sales of locally assembled cars.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-notifies-13000-property-buyers-karachi-file-tax-returns.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR notifies 13,000 property buyers in Karachi to file tax returns (opens in a new tab)\">FBR notifies 13,000 property buyers in Karachi to file tax returns<\/a><\/p>\n\n\n\n<p>Further,\nRTO-II Karachi\u2019s efforts to broaden the tax base yielded 44% increase in tax\nreturn filings for the year 2019. The office received 121,300 returns so far,\nas compared to the 84,100 income tax returns collected during the year 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Regional Tax Office (RTO) \u2013 II of the Federal Board of Revenue (FBR) has reported a 24% increase in the revenue collected during the first half of the current fiscal year (FY2019-20), according to news sources. Read: FBR divides Karachi into two zones to broaden tax net The office collected PKR 51.17 billion in revenue in the said six-month period (July-December 2019) as compared to the PKR 41.34 billion collected in the last year\u2019s corresponding period. \u00a0 Read: FBR Karachi warns non-tax-filing citizens of penal action According to reports, the tax office witnessed 62% decline in its revenue collected under the heads of cash withdrawal from the banks. Through the Finance Act 2019, the withholding tax on cash withdrawal was limited to people who were not registered on the Active Taxpayers List (ATL). Another element that impacted the revenue collection was the decline in the sales of locally assembled cars. Read: FBR notifies 13,000 property buyers in Karachi to file tax returns Further, RTO-II Karachi\u2019s efforts to broaden the tax base yielded 44% increase in tax return filings for the year 2019. The office received 121,300 returns so far, as compared to the 84,100 income tax returns collected&hellip;<\/p>\n","protected":false},"author":75,"featured_media":59990,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[15098,15097],"persona":[],"class_list":{"0":"post-60069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-taxes-karachi","9":"tag-tax-collection-in-karachi","10":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RTO-II Karachi registers 24% rise in tax collection - Zameen News<\/title>\n<meta name=\"description\" content=\"The Regional Tax Office (RTO) \u2013 II of the Federal Board of Revenue (FBR) has reported a 24% increase in the revenue collected during the first half\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/rto-ii-karachi-registers-24-rise-in-tax-collection.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RTO-II Karachi registers 24% rise in tax collection - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Regional Tax Office (RTO) \u2013 II of the Federal Board of Revenue (FBR) has reported a 24% increase in the revenue collected during the first half\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/rto-ii-karachi-registers-24-rise-in-tax-collection.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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