NBR may trim tax revenue collection target by Tk 300b

FE Report | Published: April 17, 2018 09:31:26 | Updated: April 20, 2018 11:34:18

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The aggregate tax revenue collection target may be trimmed by up to Tk 300 billion in the current fiscal year (FY) following a large amount of shortfall of the ambitious target, said the revenue board chief Monday.

The National Board of Revenue (NBR) chairman Md Mosharraf Hossain Bhuiyan made the comment at Haalkhata Utsob in the LTU (income tax) arranged on occasion of celebrating beginning of the Bangla New Year 1425.

The NBR faced a shortfall worth Tk 230 billion until March, 2018 for the FY.

The aggregate target for tax revenue collection has been set at Tk 2.48 trillion for the FY 2017-18.

Mr Bhuiyan said the revenue collection needs more than 40 per cent growth over the corresponding year's collection to achieve the target.

He said the NBR collected Tk 4.03 billion income tax in the Halkhata festival.

It may get another Tk 3.0 billion as VAT during the festival, he said.

The LTU income tax wing collected Tk 649 million as arrear and advance tax on the Halkhata Utsob.

State minister for health and family welfare Dr Zahed Maleque attended the programme at LTU.

Speaking at the programme, he urged the tax authority to bring the transport owners under tax net.

The NBR chairman said the taxmen will make sure that taxpayers can get the tax certificate without hassle or paying bribe.

He also vowed to make tax refund process simple so that taxpayers get refund of the surplus tax without hassle.

The LTU under the income tax wing has collected Tk 104.40 billion taxes in the first three quarters of the current FY achieving 15.04 per cent growth over the corresponding period of last year, official data said.

The target of the LTU income tax wing has been set at Tk 182 billion for FY 2017-18 projecting 31.65 per cent growth over the corresponding period.


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