Revenue collection witnesses 14.93pc growth in 11 months
Mannan also said that increase of revenue collection in income tax and VAT indicates the improvement of good governance in the country
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 totaling Tk 252,920.76 crore.
During the first 11 months of the last fiscal year (FY21), the revenue collection totaled Tk 220,072 crore.
Analysing the sector-wise revenue collection scenario of this July-May period, it was found that Tk 80,048.79 crore came from the customs duty, Tk 95,014.66 crore came from the VAT while Tk 77,028.61 crore came from the income tax and travel tax.
The revenue collection of the NBR was, however, lower than the 11-month target of Tk 286,091.55 crore.
Talking to news agency BSS, NBR member 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 said 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 hoped 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) 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 per cent 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 collection from VAT witnessed a healthy 10.30 per cent 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.