Revenue collection up by 8.92pc during July-February period

The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Tk 1.96 trillion.

The revenue collection by the NBR during the same period of the last fiscal year (FY22) was Tk 1.79 trillion, reports BSS.

Revenue board officials said out of the overall revenue collection of Tk 1.96 trillion during this eight-month period, Tk 591.98 billion will come from customs, Tk 764.01 billion from VAT and Tk 604.37 billion from income tax and travel tax.

This overall revenue collection is, however, lower than the revenue collection target of Tk 2.19 trillion during this eight-month period.

The NBR officials said that the revenue collection during the July-February period of the last fiscal year (FY22) from customs or import and export duty was Tk 567.26 billion which increased to Tk 591.98 billion during this period having a growth of 4.36 per cent.

On the other hand, the revenue collection from income tax and travel tax during this eight month period witnessed a growth of 6.29 per cent while the revenue collection from VAT during this July-February period experienced a healthy growth of 15.07 per cent.

The revenue collection from income tax and travel tax during July-February period of last fiscal year (FY22) was Tk 568.61 billion while the revenue collection from VAT during the same period of the last fiscal year was Tk 663.96 billion.

The NBR has a target of collecting Tk 3.7 trillion in the current fiscal year.