KARACHI: The Federal Board of Revenue (FBR) has issued an official notification transferring the tax jurisdiction of the Overseas Investors Chamber of Commerce and Industry (OICCI) from the Corporate Tax Office (CTO) Karachi to Zone-I of the Large Taxpayers Office (LTO) Karachi.
This strategic move brings the OICCI, a key institution representing foreign investors in Pakistan, under the tax domain of LTO Karachi, the premier revenue-collecting body of the FBR. The LTO Karachi is responsible for the oversight of the country’s highest-turnover businesses, including leading multinational corporations and large-scale taxpayers.
The OICCI, based in Karachi, is Pakistan’s oldest and most prominent chamber representing foreign investors. Its over 200 member companies hail from 31 countries and operate across 14 vital sectors. With its extensive influence, the OICCI plays an integral role in fostering economic dialogue between the government and international investors.
The transition to LTO Karachi aims to streamline tax administration for OICCI member companies while improving compliance and service delivery. According to the OICCI, the Chamber consistently engages with federal authorities by submitting budget proposals and advocating for a more conducive fiscal environment for foreign investment.
The LTO Karachi’s takeover of OICCI jurisdiction also reinforces its mandate to facilitate high-stakes taxpayers and address complex financial matters. LTO Karachi officials are expected to work closely with OICCI members to resolve any tax-related anomalies and enhance coordination in policy interpretation and enforcement.
OICCI, headquartered in Karachi, plays a pivotal advisory role to the government in financial, commercial, and industrial policymaking—particularly on issues impacting foreign direct investment. It actively gathers and presents statistics, investment data, and market trends to support prospective investors and engage visiting trade delegations.
With the OICCI now under the LTO Karachi’s supervision, this move marks a step toward more specialized and responsive tax governance for one of the country’s most strategically significant business chambers. The collaboration between LTO Karachi and OICCI is expected to improve transparency and foster trust in Pakistan’s tax regime.
