Revenue collection witnesses healthy 15.40% growth in FY24

Revenue collection by the National Board of Revenue (NBR) witnessed a healthy 15.40 percent growth in the last fiscal year (FY24) bagging Tk3,82,562 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 lakh crore, according to the latest data of the revenue board. NBR's revenue collection in FY23 was Tk 3,31,502 crore.

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, reports BSS.

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 Tk1,50,717 crore came from VAT with a 20.17 percent growth, the 2nd highest Tk1,31,025 crore came from income tax and travel tax having 15.60 percent growth while the 3rd highest Tk1,00,819 crore came from customs duty with a 8.72 percent growth.