VAT collection under LTU marks 30pc rise in Feb

Published: March 12, 2018 20:09:29 | Updated: March 13, 2018 10:22:09

Revenue collection under the Large Taxpayer Unit (LTU) of Value Added Tax (VAT) witnessed a 30 per cent growth in February of the current fiscal (FY18).

LTU collection in February of FY18 was Tk 35.63 billion, which is Tk 8.23 billion more from February of previous fiscal year (FY17).

During the first eight months (July-February) of fiscal year 2017-18 (FY18), LTU collected a total of Tk 182.73 billion, up by 19 per cent from the same period of FY17, reports BSS.

VAT LTU commissioner Md Matiur Rahman said higher growth in revenue collection was possible  because it has taken a time-befitting strategy and intensified supervision, VAT auditing and recovery of arrears.

He said the LTU realised a significant amount of outstanding VAT from Petrobangla, mobile-phone operators and other establishments.

Share if you like