Bangladesh
5 years ago

Govt eyes Tk 377b non-tax revenue in next budget

Picture used for illustrative purpose only
Picture used for illustrative purpose only

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The government is set to fix the target for non-tax revenue (NTR) at Tk 377 billion in the forthcoming budget.

The amount is up by Tk 43 billion from current fiscal's original target and by Tk 107 billion from the revised target.

For the current fiscal year, the original target of such revenue was Tk 333 billion, which was slashed to Tk 270 billion during the recent revision.

The source of non-tax revenue of the government includes: dividends and profits, interest, fines, penalties and forfeiture, service fees, rents and lease, tolls, non-commercial sales, and capital receipts.

Sector wise, the railway department, postal department, Bangladesh Telecommunications Regulatory Commission (BTRC), Pertrobangla, Bangladesh Petroleum Corporation (BPC), the Department of Immigration and Passports, and Bangladesh Road Transport Authority (BRTA) are the major sources of non-tax revenue.

In the current budget, total revenue earnings target has been set at Tk 3.39 trillion, of which Tk 2.96 trillion is supposed to come from the National Board of Revenue (NBR).

The rest will be collected as non-NBR tax and non-tax revenue.

The narcotics and liquor duty, motor vehicle taxes, land development tax, sale of non-judicial stamps and surcharges are considered to be non-NBR tax.

According to a senior official involved in budget preparation, moves are underway to raise various charges and fees of government services and identify new avenues to collect non-tax revenue in increased volume.

He said the target for non-tax income has been raised considering the potentially increased fees and charges.

The official said a decision has been made to search for new avenues to impose fees.

"The non-tax revenue collection against different services provided by various state entities is meagre. We can identify more avenues and items from which such revenue will be collected," he said.

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