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ISLAMABAD: Taxpayers from all across the country have whitened as many as Rs.150 billion black money under government’s Investment Tax Scheme (ITS) so far, an official in the Federal Board of Revenue said. “The Federal Board of Revenue has collected Rs.3.037 billion tax revenue, which is two percent of the total amount whitened so far,” Member Facilitation and Taxpayers Education (FATE) and FBR Spokesman, Mehmood Alam told newsmen here on Monday.

He said that as many as 21,734 people have regulated their businesses and black money by paying tax at the rate of 2 per cent under the scheme. Mehmood Alam said that out of those, 2 cases were received by Large Taxpayers Unit (LTU) Karachi, three by LTU Lahore, and one by LTU Islamabad.

The other cases received under the ITS included 5,393 from Regional Taxpayers Officer (RTO) Karachi, 5,666 from RTO Lahore, 1850 from RTO Rawalpindi, 694 from RTO Islamabad, 1399 from RTO Multan, 1908 from RTO Faisalabad, 708 cases from RTO Peshawar, 522 from RTO Sialkot, 1037 from RTO Hyderabad, 61 from RTO Quetta, 1857 from RTO Gujranwala, 495 from RTO Sukkur while 138 cases were received from RTO Abbottabad.

Giving details of 2 percent FBR revenues collected from all the cases, Mehmood Alam said that FBR collected revenues of Rs.25 million from LTU Karachi, 4 million from LTU Lahore and Rs.1.3 million from LTU Islamabad.

FBR collected Rs. 823 million from RTO Karachi, Rs.948 million from RTO Lahore, Rs.215 million from RTO Rawalpindi and Rs.251 million from RTO Islamabad he said.

Alam added that similarly, Rs.126 million were received from RTO Multan, 184 million from RTO Faisalabad, Rs.127 million from RTO Peshawar, Rs.47 million from RTO Sialkot, Rs.66 million from RTO Hyderabad, Rs.13 million from RTO Quetta, Rs.169 million from RTO Gujranwala, Rs.23 million from RTO Sukkur and Rs.15 million from RTO Abbotabad.

In Regional Taxpayers Offices, maximum 5393 cases were received in Karachi RTO while minimum 15 cases were received in Abbotabad.

In terms of revenue generation from the black money, Rs. 948 million were collected from Lahore RTO which was the highest amount while Rs 13 million were received from Quetta which is the lowest amount collected at RTOs.