KARACHI: The Large Taxpayers Office (LTO) Karachi has initiated the assessment and monitoring of foreign assets belonging to several high net-worth individuals, following directives issued by the Federal Board of Revenue (FBR).
This move is part of the FBR’s ongoing efforts to enhance transparency and compliance among affluent taxpayers with offshore holdings.
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An official memo revealed that the LTO Karachi has assigned jurisdiction over three high net-worth individuals to the Automatic Exchange of Information (AEOI) Zone for detailed assessment and audit of their offshore assets. This initiative is in line with the FBR’s policy to track and regulate overseas financial interests of taxpayers in accordance with global standards.
The FBR previously transferred the case of taxpayer Talib Hussain Halai from the AEOI zone at LTO Lahore to LTO Karachi on November 14, 2025.
Similarly, on November 21, 2025, the cases of Agha Jan Akhtar and Sakina Junaid were shifted from Regional Tax Office (RTO) II Karachi to LTO Karachi for assessment and monitoring.
LTO Karachi, recognized as the largest tax collecting unit of the FBR, plays a critical role in enforcing tax compliance among high-income individuals and corporate entities. The FBR had earlier established AEOI zones across the country to monitor, assess, and verify the offshore assets of high net-worth individuals and multinational corporations. These zones aim to curb tax evasion, ensure accurate reporting of overseas holdings, and align Pakistan’s tax framework with international best practices.
With these measures, the FBR intends to strengthen fiscal governance, enhance revenue collection, and promote greater transparency in the financial activities of high net-worth taxpayers in Pakistan.
