SYLHET, Aug 25: Revenue collection from customs and VAT (Value added tax) fell Tk 3.06 billion (Tk 306.58 crore) short of the target in Sylhet region in the fiscal year (FY) 2019-2020 due to the Covid-19 pandemic.
The total customs and VAT collection in the last FY was less than the previous fiscal's revenue earning.
Official sources said Tk 1411.02 crore revenue was earned in the FY 2019-2020 against the target of Tk1717.6 crore.
The revenue collection target could not be achieved due to suspension of export-import activities and other reasons amid the Covid-19 pandemic.
However, as the overall situation seems to be returning to normal, efforts are underway to recover from the losses, an official said.
The authorities had earlier set a target to earn Tk 2906.2 crore revenue through the 15 LC stations and corridors in the region in the FY 2019-2020 while the revenue earning stood at Tk 2583.2 crore.
However, the Airport & Airfreight Division's earning had been a satisfactory one with Tk297 crore against the targeted Tk 294.6 crore.
The revenue income from VAT stood at Tk 11.23 crore against the target of Tk 13.97 crore.
Import of goods through the border corridors and Tamabil, Sheola, Barchhara, Zakiganj, Chhatak, Chela, Ichhamoti and Bholaganj LC stations had fallen while it had increased through the Juri and Chatlaore LC stations.
Imports stood at 3794,320 toones amid decline by 1180,496 tonnes in the FY 2019-2020. However, it was 4974,816 toones in the preceding FY 2018-2019.
On the other hand, exports marked a rise during the FY with 72,104 toones against the previous FY's 29,841.87 tonnes.
Most of the exports were through the Sheola, Juri and Chatlapore LC stations.
This is why these stations got increased revenue.
President of Sylhet Chamber of Commerce & Industry (SCCI) ATM Shoeb said border trade and internal tourism are the areas of business in Sylhet region.
Only Tamabil Land Port and Shewola LC stations have just resumed operation last week at a limited scale after months of shutdown while Bholaganj Land Port resumed activities on Monday.
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