Economic Reporter :
The revenue collection target by the National Board of Revenue (NBR) has been set at Tk370,000 crore for the fiscal year 2022-23.
According to a NBR letter to field offices, the next fiscal year Tk1,22,100 crore will be collected as income tax, which is 33% of total revenue collection target.
TK1,36,900 crore will be collected as Value Added Tax (VAT) duty and Tk1.11 lakh crore as customs duty those are 37% and 30% of total revenue targets respectively.
The target is 12% higher than the current fiscal’s target, which is Tk330,000 crore.
However, NBR managed to achieve 53% of the target till February this year.
The NBR posted 16.09% year-on-year growth in revenue collection, which amounted to Tk1.53 lakh crore in the first seven months of the fiscal 2021-22, thanks to a surge in imports with pandemic easing slowly.
Of the three types of revenues, the growth in customs was the highest 22.45% in the July 2021- January 2022 period, while value-added tax saw a 12.68% and income tax 14.20% increase compared to those of the previous fiscal (FY2020-21).
The concerned sub-divisions have been directed to inform the research and statistics division and field level departments about the possibilities, challenges and rationale of revenue collection by Tuesday.
