Imports have increased due to lower infection rates of COVID-19 and rising local demand, which has played a major role in revenue earnings. According to the National Board of Revenue, in the first half of the current fiscal year 2021-22, July to December, the revenue earnings increased by 14.22% or about Tk 16,000 crore compared to the same period of the previous fiscal year. There has been more growth in customs revenue. During the period under review, the growth in the customs duty revenue alone was about 20%. According to the Bangladesh Bank, imports have increased by 54% in the first five months of the current fiscal year.
According to the preliminary data prepared by the NBR, the offices under the NBR have collected 1 lakh 26 thousand and 209 crore taka in the last six months. Apart from customs duty, VAT and income tax collection have increased by 9.54% and 14.83% respectively.
In the first six months of last year, revenue growth was less than 4%. During the period under review, the growth in customs duty, VAT, and income tax collection was 6.77%, 1.16%, and 4.8% respectively. Despite the growth, the collection has been less than the target of 17 thousand crore taka.
Most of the customs duty collected in the country comes through Chittagong Customs House and Benapole Customs House. The recent rise in prices of several commercial commodities and raw materials, including fuel oil, in the international market, and the increase in ship rents, have also contributed to the increase in customs revenue
