Top ten large taxpayers paid 78.45 per cent or Tk 288.24 billion in value-added tax (VAT) last fiscal while huge potential remained untapped, officials said.
And nearly half of the amount realised by the large taxpayers unit (LTU) in FY2016-17 came from a tobacco multinational alone.
Aggregate collection of VAT from the taxpayers under the LTU, having a total of 157 large companies under its jurisdiction, amounted to Tk 367.42 billion in the last fiscal.
The unit achieved 20 per cent growth in the revenue collection although the number of companies decreased over the years, instead of a potential increase.
Of the major ten contributors, multinational tobacco company British American Tobacco Bangladesh (BATB) alone paid Tk 136.50 billion in VAT in the FY2016-17.
Another local tobacco company, Dhaka Tobacco Industries Ltd (DTI), paid Tk 33.09 billion worth of VAT under the LTU.
Petrobangla, a state-owned oil-and-gas company, paid Tk 45.04 billion, while Titas Gas Field Tk 18.80 billion, Habiganj Gas Field Tk 6.81 billion.
Among the top ten companies, three telecom operators also paid significant amounts.
Of them, Grameenphone paid Tk 22.96 billion, Robi Axiata Limited Tk 9.82 billion and Banglalink Digital Communications Limited Tk 8.53 billion.
Bangladesh Power Development Board (PDB) paid Tk 3.49 billion in VAT under the unit last year.
Among the top ten companies, Akij Food and Beverage Ltd paid Tk 3.15 billion.
VAT commissioner at the LTU Matiur Rahman said there is huge potential of increasing VAT collection from the existing registered taxpayers.
"Only 20 companies pay 84.37 per cent or Tk 367. 42 billion in tax under the unit while the rest is paid by the 120 others," he said.
Islami Bank Bangladesh Limited, Kailashtila Gas Field, Dhaka Power Distribution Company Limited, Incepta Pharmaceuticals Limited, Sonali Bank, Unilever Bangladesh Ltd (ctg), Rupantarita Prakritik Gas Co. Ltd, Rashidpur Gas Ltd, Transcom Beverage Ltd and Dhaka WASA are the next ten companies that paid VAT under the unit.
The unit collected a surplus amount of revenue worth Tk 63.25 billion last year compared to that of the previous year.
Intelligence activity of LTU officials detected some Tk 16.97 billion worth of unpaid revenue in 35 cases. Of the amount, LTU realised Tk 910 million in the last FY.
The unit also resolved 12 cases realising Tk 180 million through Alternative Dispute Resolution (ADR).
It achieved the highest growth last year in revenue collection from its existing clientele.
Revenue-collection growth was 5.0 per cent, 9.89 per cent, 7.46 per cent, 19.51 per cent in FY 2012-13, 2013-14, 2014-15 and 2015-16 respectively.
The LTU commissioner said the aggregate revenue collection had been reconciled up to April 17 with the Comptroller General of Accounts (CGA) office.
A large gap between revenue-collection data of the NBR and the LTU confused economists and policymakers every year on actual collection of internal revenue by the board.
Although the NBR (National Board of Revenue) took steps to reconcile the data, it has never been resolved on aggregate collection of tax revenue.
"The unit has reconciled its aggregate VAT collection with the CGA office. There is no difference in revenue-collection figure of the unit with the IBAS," he added.
Until April 17, the unit had collected Tk 297.45 billion while CGA data showed Tk 3.94 billion less in revenue.
Some Tk 4.89 billion was deposited in the treasury chalan by Petrobangla in May last that was tax for the month of April. The CGA reconciled the revenue data sans that amount.
LTU's collection would have been Tk 950 million higher if it had been reconciled that month.
The government had originally handed the revenue board a target of collecting Tk 2.03 trillion as tax revenue in the last budget. The figure was revised down to Tk 1.85 trillion.
doulot_akter@yahoo.com
