Revenue collection grows by 8.92pc but fails to reach target in July-February period

The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Taka 196,037.51 crore (over 1.96 trillion), reports news agency BSS.

The revenue collection during the same period of the last fiscal year (FY22) was Taka 179,984 crore.

NBR officials said out of the overall revenue collection of Taka 1,96,037.51 crore during this eight-month period, Taka 59,198.07 crore came from the customs, Taka 76,401.46 crore from VAT and Taka 60,437.98 crore from income tax and travel tax.

This overall revenue collection, however, is lower than the revenue collection target of Taka 219,015 crore during this eight-month period.

The NBR officials said that the revenue collection during the July-February period of the last fiscal year (FY22) from customs or import and export duty was Taka 56,726 crore which increased to Taka 59,198.07 crore during this period having a growth of 4.36 per cent.

On the other hand, the revenue collection from income tax and travel tax during this eight month period witnessed a growth of 6.29 per cent while the revenue collection from VAT experienced a healthy growth of 15.07 per cent during this period.

The revenue collection from income tax and travel tax during July-February period of last fiscal year (FY22) was Taka 56,861.56 crore while the revenue collection from VAT during the same period of the last fiscal year was Taka 66,396.43 crore.

The NBR has a target of collecting Taka 3.70 trillion in the current fiscal year.