Revenue collection witnesses 8.92% growth in 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 percent growth from income tax, VAT and customs with a collection of Tk 1,96,037.51 crore.

BSS adds: The revenue collection by the revenue board during the same period of the last fiscal year (FY22) were Tk 1,79,984 crore.

NBR officials said out of the overall revenue collection of Taka 1,96,037.51 crore during this eight-month period, Tk 59,198.07 crore will come from customs, Tk 76,401.46 crore from VAT and Tk 60,437.98 crore from income tax and travel tax.

This overall revenue collection is, however, lower than the revenue collection target of Tk 2,19,015 crore 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 56,726 crore which increased to Tk 9,198.07 crore during this period having a growth of 4.36 percent.

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

The revenue collection from income tax and travel tax during July-February period of last fiscal year (FY22) was Tk 56,861.56 crore while the revenue collection from VAT during the same period of the last fiscal year was Tk 66,396.43 crore.

The NBR has a target of collecting Tk 3.70 lakh crore in the current fiscal year.