Economic Reporter :
The National Board of Revenue (NBR) has surpassed its target in tax-revenue collection by Tk 880 million in the first month of the current 2016-2017fiscal year (FY).
Three wings of the board–income tax, customs and Value Added Tax (VAT)–netted Tk 95.97 billion in taxes in July against the target set at Tk 95.09 billion, said a news release.
NBR Chairman Md Nojibur Rahman said the board has realised Tk 9597 crore against the target of collecting Tk 9509 crore revenue from income tax, duty and VAT.
The ratio of collection was 100.92 percent of its target which is 10 percent higher than the amount fetched in the same period of the previous fiscal.
The government has set Tk 2.03 trillion revenue collection target for the NBR for the fiscal year 2016-17, expecting above 30 percent growth over last year’s collection of Tk 1.55 trillion.
It had reduced the original revenue collection target from Tk 1.76 trillion to Tk 1.50 trillion last fiscal following the slow growth of tax collection.
The NBR chairman and senior secretary of internal resources division Md. Nojibur Rahman said, the higher revenue mobilisation was possible with the participation of all concerned.
He said the board also deployed right men at the right positions, and as a result it had realised an additional Tk 88 crore from the estimated amount set for the first month of the current fiscal year with additional efforts of att the officials.
A satisfactory progress in resolving pending cases and in collection of pending revenue has led to the success, according to the NBR chief.
Nojibur Rahman thanked Prime Minister Sheikh Hasina and Finance Minister AMA Muhith for their guidance and supervision and acknowledged the role of his colleagues, stakeholders and ministries and departments in the revenue collection.
Later, the NBR issued a media statement on the revenue mobilisation.
Earlier, on Tuesday Finance Minister AMA Muhith at a programme said the National Board of Revenue (NBR) is on the right track and performing its job satisfactorily.
“I am pleased to see that the revenue board is on the right path in performing its job to achieve the tax collection target for the current year,” he said.
The government has set Tk 2.03 trillion tax-revenue-collection target for FY 2016-17. Last year, the board crossed its revised revenue target by Tk 55.28 billion.
The National Board of Revenue (NBR) has surpassed its target in tax-revenue collection by Tk 880 million in the first month of the current 2016-2017fiscal year (FY).
Three wings of the board–income tax, customs and Value Added Tax (VAT)–netted Tk 95.97 billion in taxes in July against the target set at Tk 95.09 billion, said a news release.
NBR Chairman Md Nojibur Rahman said the board has realised Tk 9597 crore against the target of collecting Tk 9509 crore revenue from income tax, duty and VAT.
The ratio of collection was 100.92 percent of its target which is 10 percent higher than the amount fetched in the same period of the previous fiscal.
The government has set Tk 2.03 trillion revenue collection target for the NBR for the fiscal year 2016-17, expecting above 30 percent growth over last year’s collection of Tk 1.55 trillion.
It had reduced the original revenue collection target from Tk 1.76 trillion to Tk 1.50 trillion last fiscal following the slow growth of tax collection.
The NBR chairman and senior secretary of internal resources division Md. Nojibur Rahman said, the higher revenue mobilisation was possible with the participation of all concerned.
He said the board also deployed right men at the right positions, and as a result it had realised an additional Tk 88 crore from the estimated amount set for the first month of the current fiscal year with additional efforts of att the officials.
A satisfactory progress in resolving pending cases and in collection of pending revenue has led to the success, according to the NBR chief.
Nojibur Rahman thanked Prime Minister Sheikh Hasina and Finance Minister AMA Muhith for their guidance and supervision and acknowledged the role of his colleagues, stakeholders and ministries and departments in the revenue collection.
Later, the NBR issued a media statement on the revenue mobilisation.
Earlier, on Tuesday Finance Minister AMA Muhith at a programme said the National Board of Revenue (NBR) is on the right track and performing its job satisfactorily.
“I am pleased to see that the revenue board is on the right path in performing its job to achieve the tax collection target for the current year,” he said.
The government has set Tk 2.03 trillion tax-revenue-collection target for FY 2016-17. Last year, the board crossed its revised revenue target by Tk 55.28 billion.
