Staff Reporter :
The National Board of Revenue (NBR) will have to collect more Tk 77,000 crore in one month to meet its annual revenue collection target, which is quite impossible.
The overall revenue collection during first 11 months (July-May) of the current fiscal year witnessed a healthy growth of 14.93 percent totaling Tk 2,52,920.76 crore against target of Tk 3,30,000 crore, according to a provisional data.
The revenue collection was Tk 2,20,072 crore during the aforesaid period of last fiscal year, the data showed.
The revenue board earned Tk 80,048.79 crore from the customs duty, Tk 95,014.66 crore from the VAT while Tk 77,028.61 crore came from the income tax and travel tax.
The revenue collection of the NBR is also lower than the 11-month target of Tk 2,86,091.55 crore.
The revenue collection from customs during the first 11 months of the last fiscal year (FY21) totaled Tk 68,010.54 crore which has increased by 18.18 per cent to reach Tk 80,048.79 crore.
The revenue collection from income tax during the first 11 months of the current fiscal year totaled Tk 77,028.61 crore with a 17.62 percent growth.
The revenue collection from income tax during the first 11 months of the last fiscal year (FY21) was Tk 65,070.67 crore.
The revenue collection from VAT witnessed a healthy 10.30 percent growth during this 11-month period fetching Tk 95,014.66 crore compared to Tk 62,026 crore bagged during the same period of the last fiscal year.
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.
