Revenue collection witnesses healthy 15.40pc growth in FY24

Revenue collection by the National Board of Revenue (NBR) witnessed a healthy 15.40 per cent growth in the last fiscal year (FY24) bagging over Tk 3.82 trillion (Tk 3,82,562 crore).

Although the revenue collection witnessed growth in the last fiscal, it still fell behind the revised fiscal revenue collection target of Tk 4.10 trillion, according to the latest data from the revenue board. NBR’s revenue collection in FY23 was over Tk 3.31 trillion (Tk 3,31,502 crore), reports BSS.

Talking to BSS, a senior NBR official preferring anonymity said that the overall revenue collection in the last fiscal year was satisfactory despite the restrictions on the import of some products.

He also attributed this revenue collection performance as a result of some pragmatic steps by the government to prevent tax evasion.

The NBR data showed that in the last fiscal year, the highest amount of over Tk 1.51 trillion (Tk 1,50,717 crore) came from VAT with a 20.17 per cent growth, the 2nd highest over Tk 1.31 trillion (Tk 1,31,025 crore) came from income tax and travel tax having 15.60 per cent growth while the 3rd highest over Tk 1.008 trillion (Tk 1,00,819 crore) came from customs duty with a 8.72 per cent growth.