Revenue collection witnesses 14.93pc growth in 11 months
Tuesday, 28 June 2022
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 per cent totalling Tk 2.52 trillion (2,52,920.76 crore), reports BSS.
During the first 11 months of the last fiscal year (FY21), the revenue collection totalled Tk 2.20 trillion.
Analyzing the sector-wise revenue collection scenario of this July-May period, it was found that Tk 800.48 billion came from the customs duty, Tk 950.46 billion came from the VAT while Tk 770.28 billion came from
the income tax and travel tax. The revenue collection of the NBR is, however, lower than the target of Tk 2.86 trillion.
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) totalled Tk 680.1 billion which has increased by 18.18 per cent to reach Tk 800.48 billion.