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FBR establishes first LTU in Multan to expand tax net

FBR establishes first LTU in Multan to expand tax net

MULTAN: The Federal Board of Revenue (FBR) has established its first Large Taxpayer Unit (LTU) office in Multan as part of its on-going tax reforms program to facilitate and improve revenue collection.

Tax Administration Reform Program (TARP) recommended Federal Board of Revenue to establish new LTUs in the country. Under this program a large taxpayer unit was set up at Regional Tax Office Multan tax building initially to facilitate taxpayers. However, for unknown reasons this office was set temporarily in the Regional Tax Office Multan.

The Federal Board of Revenue has allocated a jurisdiction to Large Taxpayer Unit and chief commissioner will assigned task for the LTU Office. Newly established LTU will enhance tax revenue.

It will also ensure enforcing compliance of statutory provisions regarding the filing returns, statements, furnishing of information, maintenance   and monitoring of tax collection from corporate sector. Large Taxpayer Unit will also deal with high net-worth individual’s cases in the jurisdiction.