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BSS
  27 Jun 2022, 18:48

Revenue collection witnesses 14.93pc growth in 11 months

DHAKA, June 27, 2022 (BSS) - The overall revenue collection by the National 
Board of Revenue (NBR) during the first 11 months (July-May) of the current 
fiscal year (FY22) witnessed a healthy growth of 14.93 percent totaling Taka 
2,52,920.76 crore.

During the first 11 months of the last fiscal year (FY21), the revenue 
collection totaled Taka 2,20,072 crore.

Analyzing the sector-wise revenue collection scenario of this July-May 
period, it was found that Taka 80,048.79 crore came from the customs duty, 
Taka 95,014.66 crore came from the VAT while Taka 77,028.61 crore came from 
the income tax and travel tax. 

The revenue collection of the NBR is, however, lower than the 11-month target 
of Taka 2,86,091.55 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.

Mannan said since tax at source is being deposited through electronic method, 
so, it has been playing a special role in revenue collection.

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

According to NBR, the revenue collection from customs during the first 11 
months of the last fiscal year (FY21) totaled Taka 68,010.54 crore which has 
increased by 18.18 percent to reach Taka 80,048.79 crore.

The revenue collection from income tax during the first 11 months of the 
current fiscal year totaled Taka 77,028.61 crore with a 17.62 percent growth. 

The revenue collection from income tax during the first 11 months of the last 
fiscal year (FY21) was Taka 65,070.67 crore.

The revenue collection from VAT witnessed a healthy 10.30 percent growth 
during this 11-month period fetching Taka 95,014.66 crore compared to Taka 
62,026 crore bagged during the same period of the last fiscal year.
 

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