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BSS
  23 May 2022, 19:00

Revenue collection witnesses 15.21pc growth in 10 months

DHAKA, May 23, 2022 (BSS) - The overall revenue collection by the National

Board of Revenue (NBR) during the first 10 months (July-April) of the current
fiscal year (FY22) witnessed a healthy growth of 15.21 percent totaling Taka
2,27,641.24 crore.

During the first 10 months of the last fiscal year, the revenue collection
(FY21) totaled at Taka 1,97,583.52 crore.

Analyzing the sector-wise revenue collection scenario of this July-April
period, it was found that Taka 73,060.26 crore came from the customs duty,
Taka 84,895.21 crore came from the VAT while Taka 69,685.77 crore came from
the income tax and travel tax.

The revenue collection of the NBR is, however, lower than the 10-month target
of Taka 2,60,031.75 crore.

Talking to BSS, NBR member Dr Abdul Mannan Shikder said that positive changes
have been evident into the mindset of the businessmen and individual
taxpayers compared to the past as they are becoming compliant every now and
then.

"Side by side, the field-level tax officials are strengthening their
monitoring system. Considering all these things, there has been a positive
growth in revenue collection," he added.

Mannan also opined that increase of revenue collection in income tax and VAT
indicates the improvement of good governance in the country.

The NBR has been giving due importance in checking tax evasion in the customs
system side by side the businessmen are now much more compliant since they
have taken VAT registration through online and thus paying VAT, he mentioned.

On the other hand, it has been possible to bring the maximum number of people
under the tax net in case of direct tax.

The senior NBR member also opined that the revenue collection would be much
better at the end of this month and the next month.

According to NBR, the revenue collection from customs during the first 10
months of the last fiscal year (FY21) totaled Taka 61,131.63 crore which has
increased by 19.51 percent to reach Taka 73,060.26 crore.

The revenue collection from income tax during the first 10 months of the
current fiscal year totaled Taka 69,685.77 crore with a 16.78 percent growth.
The revenue collection from income tax during the first 10 months of the last
fiscal year (FY21) was Taka 59,670.21 crore.

The revenue collection from VAT witnessed a healthy 10.57 percent growth
during this 10-month period fetching Taka 84,895.21 crore compared to Taka
76,781.68 crore bagged during the same period of the last fiscal year.

 

 

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