July-Oct tax revenue up 16pc

The government's tax revenue collection grew by nearly 16 per cent in the first four months of the current fiscal year, mainly riding on hefty growth in VAT collection.

However, tax revenue collection lagged behind its target by Tk 172.19 billion in this period.

Until October, the National Board of Revenue (NBR) collected Tk 1.19 trillion in taxes, against Tk 1.03 trillion in the corresponding period last year.

Officials said the revenue collection growth of 15.54 per cent, though it is moderate, does not reflect the actual scenario as the data is being compared with a period when the country was recovering from post-uprising.

VAT collection grew 24.78 per cent, income tax collection 16.11 per cent and customs 4.53 per cent.

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