DHAKA, June 11, 2018 (BSS)-Revenue collection is expected to witness a 20 percent growth in the current fiscal year (2017-18), said National board of Revenue (NBR) chairman Md Mosharraf Hossain Bhuiyan.
“We expect 20 percent growth in revenue collection in the current fiscal compared to that of the last fiscal year (FY17),” he said while speaking at a inaugural ceremony of a VAT related documentary and LTU VAT mobile Apps at IDEB here today.
He said VAT is the major part of revenue and the VAT collection system will be automated with the next one year. Electronic Fiscal Device (EFD) will be introduced and NBR is planning to go for inviting tender in this regard soon, he added.
Terming the revenue collection target of Taka 3.0 lakh crore in the proposed budget for fiscal year 2018-19 as challenging, he said the NBR will try best to attain this target in cooperation of the people.
Md. Abul Kalam Azad, Chief Coordinator for Sustainable Development Goals (SDG) Affairs in the Prime Minister’s Office, attended the ceremony as chief guest. Commissioner of LTU VAT Md Matiur Rahman delivered welcome speech.
Md. Abul Kalam Azad appreciated the NBR for introducing apps for VAT collection said it is a positive move as it helps plug bribe and save time and cost.