2022-05-24 13:28:36 BdST
NBR misses revenue collection target in 10 months of FY22
The National Board of Revenue (NBR) has missed the revenue collection target in the first 10 months (July-April) of the current fiscal year (FY22).
The National Board of Revenue (NBR) has collected Tk 2.28 trillion during the period. The target for the period was Tk 2.60 trillion.
However, the overall revenue collection witnessed a growth of 15.21 percent during the July-April period of the current fiscal. The revenue authority collected Tk 1.97 trillion in the July-April period of FY21.
Analysing the sector-wise revenue collection scenario of this July-April period, it was found that Tk 730.60 billion came from the customs duty, Tk 848.95 billion came from the VAT while Tk 696.86 billion came from the income tax and travel tax.
NBR member Dr Abdul Mannan Shikder said that positive changes have been evident in the mindset of the businessmen and individual taxpayers compared to the past as they are becoming compliant now and then.
"Side by side, the field-level tax officials are strengthening their monitoring system. Considering all these things, there has been positive growth in revenue collection," he added.
Mannan also opined that an increase in revenue collection in income tax and VAT indicates the improvement of good governance in the country.
The NBR has been giving due importance to checking tax evasion in the customs system side by side the businessmen are now much more compliant since they have taken VAT registration 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.
The senior NBR member also opined that the revenue collection would be much better at the end of this month and the next month.
Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.