NBR's Jul-Mar revenue rises, still 20pc short of revised target

Although the National Board of Revenue (NBR)'s revenue collection surged a bit during the Jul-March period of the current fiscal year compared to the corresponding period of last fiscal, it still fell some 20 per cent short of the total target, official data showed on Saturday.

The NBR collected Tk 2.56 trillion in tax and revenue during the Jul-March period of the fiscal year (FY) 2024-25, about Tk 656.66 billion or 20 per cent lower than the revised target of Tk 3.22 trillion for period under review, the revenue board data showed.

The state-run tax collector during the Jul-Mar period of FY2024 earned Tk 2.495 trillion in revenue, the official data showed.

The NBR has revised down its total revenue collection target to Tk 4.635 trillion for the current FY2025 to support the national budget. With the Jul-March period over, the NBR now will have to collect 44.66 per cent more revenue in the last quarter (April-June) of the current FY2025, the official statistics showed.

According to the NBR data, local value-added tax (VAT) collection during the Jul-Mar period of FY2025 was recorded at Tk 953.11 billion, 2.09 percentage points higher than that of the same period of FY2024.

The VAT collection is 17 percentage points lower than the revised target for the first nine months of this fiscal.

Additionally, tax collections in the area of import and export trade was Tk 742.55 billion during the last Jul-Mar period, 0.38 percentage points higher than that for the corresponding period of the last fiscal while 18 percentage points lower than the revised target for the stipulated time, the NBR data showed.

The revenue collection in the forms of income and travel taxes during the last Jul-Mar period was recorded at Tk 869.21 billion, 5.67 percentage points higher than that of the same period of FY2024 while 25.50 percentage points lower that the revised target for the nine months of this fiscal, the revenue board data showed.

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