NBR surpasses tax collection target by Tk 1. 73b in Jul-Mar
Wednesday, 28 April 2010
FE Report
The National Board of Revenue (NBR) has surpassed tax collection target by Tk 1. 73 billion with 18.31 per cent growth in the three quarters of the current fiscal compared to the corresponding period of the previous fiscal.
The outstanding performance of the revenue board can be attributed to the Value Added Tax (VAT) and income tax, said NBR chief Dr Nasiruddin Ahmed.
The NBR has collected Tk 416.48 billion in the three quarters against Tk 352.03 billion in the same period last year.
The VAT wing has achieved the highest 25.66 per cent while income tax 20.10 per cent growth in July-March period, he said at a press briefing Tuesday.
Customs revenue collection also achieved double-digit growth in the three quarters despite steep fall in product prices in the international market, he said.
The NBR has collected Tk 163.42 billion revenue on import stage but failed to achieve target, he added.
Revenue collection from domestic VAT was Tk 152.01 billion while from income tax it was Tk 98.20 billion.
Travel tax collection fell short of target by 20 per cent as the revenue board has stuck up taxes with airline companies.
"We are trying to collect those taxes by next two months," the NBR chairman said.
Tax exemption and appeal member Aminul Karim said: "The NBR has arrears tax worth Tk 300 million with the airline companies. Of the amount, Biman owes Tk 130 million."
Travel tax collection fell short of target as overall travel declined to one-third for global recession, he said.
VAT member Abdul Mannan Patowary said: "Efforts of VAT officials, support from stakeholders and effective budget measures have contributed to the impressive growth of VAT department."
Cement and Bidi sector performed better in the current fiscal, he said.
On installation of electronic cash register (ECR) in big and medium businesses, the VAT member pointed out non-cooperation and unwillingness of businesses as a major reason of slow pace of implementation.
"We have asked all commissionerates to take legal action against the businesses for not abiding revenue board's order," he said.
Income tax administration member Bashir Uddin Ahmed said income tax collection will surpass its target in the current fiscal.
On search and freeze of bank accounts, NBR member Aminur Rahman said: "We are only taking actions against tax evaders not under political consideration or war-criminals."
The NBR chairman said the revenue board has laid emphasis on two aspects - tax base expansion and checking tax evasion.
The National Board of Revenue (NBR) has surpassed tax collection target by Tk 1. 73 billion with 18.31 per cent growth in the three quarters of the current fiscal compared to the corresponding period of the previous fiscal.
The outstanding performance of the revenue board can be attributed to the Value Added Tax (VAT) and income tax, said NBR chief Dr Nasiruddin Ahmed.
The NBR has collected Tk 416.48 billion in the three quarters against Tk 352.03 billion in the same period last year.
The VAT wing has achieved the highest 25.66 per cent while income tax 20.10 per cent growth in July-March period, he said at a press briefing Tuesday.
Customs revenue collection also achieved double-digit growth in the three quarters despite steep fall in product prices in the international market, he said.
The NBR has collected Tk 163.42 billion revenue on import stage but failed to achieve target, he added.
Revenue collection from domestic VAT was Tk 152.01 billion while from income tax it was Tk 98.20 billion.
Travel tax collection fell short of target by 20 per cent as the revenue board has stuck up taxes with airline companies.
"We are trying to collect those taxes by next two months," the NBR chairman said.
Tax exemption and appeal member Aminul Karim said: "The NBR has arrears tax worth Tk 300 million with the airline companies. Of the amount, Biman owes Tk 130 million."
Travel tax collection fell short of target as overall travel declined to one-third for global recession, he said.
VAT member Abdul Mannan Patowary said: "Efforts of VAT officials, support from stakeholders and effective budget measures have contributed to the impressive growth of VAT department."
Cement and Bidi sector performed better in the current fiscal, he said.
On installation of electronic cash register (ECR) in big and medium businesses, the VAT member pointed out non-cooperation and unwillingness of businesses as a major reason of slow pace of implementation.
"We have asked all commissionerates to take legal action against the businesses for not abiding revenue board's order," he said.
Income tax administration member Bashir Uddin Ahmed said income tax collection will surpass its target in the current fiscal.
On search and freeze of bank accounts, NBR member Aminur Rahman said: "We are only taking actions against tax evaders not under political consideration or war-criminals."
The NBR chairman said the revenue board has laid emphasis on two aspects - tax base expansion and checking tax evasion.